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ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: Survey: Most smaller companies in Europe have existential fears. Chinese boosted domestic economy during holiday week. Bloomberg: Virus has dragged a record number of large companies into losses in the US. Inflation will continue to fall, according to analysts. Confidence in the German economy has worsened due to the virus and Brexit. EBRD expects a more significant economic downturn in the countries where it operates. The value of cryptocurrency mergers in the first half of the year exceeded that of the entire year of 2019. SB: Coronavirus may plunge 150 million people into extreme poverty. Proposal: Part of future EU money for employment will go to transport. Moravian-Silesian companies do not plan to close operations due to coronavirus. Economists: Auctions are common thanks to new Nobel laureates. South Korea's economy returned to growth in the third quarter. China's economic growth accelerated to 4.9 percent in the third quarter. Year-on-year inflation fell to 3.2 percent in September, and is likely to continue to fall. Survey: Half of smaller companies will have to cut costs. Americans Milgrom and Wilson win Nobel Prize in Economics. Analysts: Industry was unpleasantly surprised, September should be better. The decline in Japanese exports slowed significantly in September.

Stock markets: The US is imposing tariffs on aluminum sheets from 18 countries. In 2021, the price of a troy ounce of gold will not exceed $2,000 on average.

Finance: Non-banking credit companies have rules for clients in a moratorium. KPMG: Household finances are starting to feel the cooling of the economy. Association: Banks ready to help clients affected by pandemic. Government debt for this year's 2nd quarter is the highest in 20 years. Most funds have lost money this year, with stocks losing an average of four percent. S&P surprisingly improved the outlook for Italy's credit rating. Bundesbank has urged German banks to prepare for a wave of insolvencies. Central banks are appealing to governments to continue pumping money. Almost two-thirds of Czechs are actively using modern payment methods. Bubenik Partners: Changes in company management take into account current developments. Fed has extended restrictions on banks' dividend payments and share buybacks. Morgan Stanley buys asset manager Eaton Vance for seven billion USD. BBC: Visa and Mastercard face accusations of excessive fees. According to Rusnok, the financial market has made great progress since the 1990s. ECB is considering changing its current policy due to coronavirus. World central banks are preparing their own digital currencies. Spanish central bank: strict quarantine will worsen the expected crisis. Arca Capital has agreed on financing with Blantyre Capital. JP Morgan increased profits, while rival Citigroup earned less. IFIS filed for insolvency against the owner of Arca Capital. CBA: Banks see no reason to renew the moratorium on loan payments. American bank Citigroup must pay a fine of $400 million. Rusnok: The use of other monetary policy tools is not necessary. American Express credit card issuer's profits fell sharply. G20 extended the moratorium on loans for poor countries.