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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: Confidence in the economy increased slightly in May after the previous decline. Česká spořitelna: Czechs increased spending after easing measures. Indian economic growth slowed due to coronavirus. Analysts: Economic development in the 2nd quarter will be even worse. Central bank: Austrian economy will fall by 7.2 percent this year. Analysts: Budget deficit will be higher than CZK 300 billion this year. Sales of older homes in the US fell the most in a decade. Profits of Japanese companies in the quarter fell the most since 2009. The Japanese economy has entered a recession, facing the impacts of coronavirus. Slovaks are the most common foreign owners of Czech companies. Survey: Czechs are worried about the future due to coronavirus. Unemployment rose to 3.6 percent, store sales fell by a tenth. The US is working to reduce dependence on supplies of goods from China. ADB: Coronavirus could cost the global economy $8.8 trillion. Chinese exports and imports fell in May, imports the most in four years. The title of Entrepreneurial Head won the honey vending machine project. The number of applications for protection from creditors in the US increased by 48 percent.

Stock exchanges: Metal coating will improve the properties of devices from common 3D printers. Coronavirus in Israel has also hit the diamond market hard.

Finance: Záruční banka is to sign COVID III contracts with banks on Friday. EAG will issue bonds for CZK 1.5 billion. It will use the money for acquisitions. ČS: Card transactions confirm a sharp decline in household consumption. The Czech National Bank has drawn attention to the activities of Silk Assets Investments. German consumers can take out a loan with negative interest. Czech banks have collected CZK 5.5 billion less in fees since 2010. Hypoindex: Average mortgage rate fell in April, volume at record high. Bloomberg: Kellner's bet on China is backfiring. Survey: Czechs do not complete every 20th payment in e-shops. Gold again at seven-year records, still due to concerns about the pandemic. The Fed warns of the vulnerability of the financial sector due to the pandemic. The British central bank is not yet considering negative interest rates. Moody's has lowered India's rating to just above the speculative band. The Fed chief does not expect a repeat of the crisis from the 1930s. The Czech National Bank of the Czech Republic has so far approved assistance to 1,800 entrepreneurs in COVID programs. ČSOB's net profit fell by 56 percent this year to CZK 2.1 billion. Home Credit stopped executions based on arbitration clauses. Most banks have not yet signed a cooperation agreement on COVID III. Fed: Coronavirus has deprived people with lower incomes of their jobs. Survey: Most Europeans shopped more online in April. Japan's central bank will provide loans to small and medium-sized businesses. Banks are completing preparations for providing loans from Covid III. Analysts: Société Générale's rating downgrade will not threaten KB in any way. CNB record: Nidetzký and Michl voted for a more moderate rate cut. Domestic holidays are dominated by shorter stays, there is interest in insurance. Rusnok: I can rule out the introduction of an exchange rate commitment in the foreseeable future.