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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: According to the central bank, the Australian economy is facing a record recession. Employers are asking for social security payments to be waived. The US is working to reduce dependence on supplies of goods from China. Japanese exports in April fell the most since the global financial crisis. Bloomberg: Poland, the only EU country to survive 2008, will succeed again. Farmers: Vegetable prices will probably remain at their current level. UNWTO: International tourism may fall by up to 80 percent this year. Survey: 70 percent of companies report a drop in orders for May and June. Survey: 75 percent of exporters cannot resolve the impacts of the crisis on their own. CRIF: 455 companies were added in the Czech Republic in April, the least in a decade. TI: Billions to support the economy must not go to tax havens. ADB: Coronavirus could cost global economy $8.8 trillion. Chamber: Lack of money is starting to cause tension between companies. British economy has fallen the most since the 2008 financial crisis. Czech Savings Bank: Czechs increased spending after easing measures. Survey: Larger businesses want Antivirus program to continue. Confidence in the economy rose slightly in May after a previous decline. Analysts: Unemployment data points to an economic recession. Analysts: The industrial decline will deepen in April.

Stock markets: Metal coating will improve the properties of tools from conventional 3D printers. The world's deepest mine in South Africa has been closed, 164 workers have been infected.

Finance: ČSOB's net profit fell by 56 percent this year to CZK 2.1 billion. The Polish central bank has reduced its base interest rate to almost zero. The Garanti Bank is to sign COVID III contracts with banks on Friday. The Fed warns of the vulnerability of the financial sector due to the pandemic. The Japanese central bank has its first female executive director. Fio banka's profit increased by 28 percent this year to CZK 376 million. The Fed chief does not expect a repeat of the crisis from the 1930s. Analysts: Gold is the most expensive in seven years, the price may continue to rise. The Czegg Ventures investment fund will distribute a billion among 30 companies. In a new forecast, the Czech National Bank expects an eight percent decline in the economy this year. Banks will not immediately react to the CNB's base rate cut. Fed: Coronavirus has deprived people with lower incomes of their jobs. Lloyd's: Insurance companies are at risk of losses of USD 203 billion due to coronavirus. Banks are completing preparations for providing loans from Covid III. Gerber to replace Pupala at Monety savings and mortgage bank. Japan's central bank to provide loans for small and medium-sized businesses. Fed chief warns of long-term US economic slowdown. Bank of England expects deepest GDP decline in 300 years. Raiffeisen Bank's profit falls 22 percent due to coronavirus. German consumers can take out a loan with negative interest. Home Credit halts foreclosures based on arbitration clauses. Analysis: Single-parent households are most economically vulnerable. Domestic holidays are dominated by shorter stays, interest in insurance. Czech National Bank expects public finances to fall to a deficit of 4.8 percent of GDP this year.