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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: CZSO: Industrial prices slowed year-on-year growth to 0.4 pct in March. Digital companies want to support the recovery of the Czech economy. Another 5.2 million people applied for unemployment benefits in the US. EY: The vast majority of companies expect a decline in sales in April. Retail sales in the US fell by a record 8.7 percent. There is interest in new lung ventilators in a number of countries, the company MICo said. Association: Losses for carpenters will continue for another three months. Japanese exports suffered the steepest decline in almost four years. WSJ: The pandemic may sever ties between the Chinese and US economies. Confidence in the Czech economy fell by a record 19.6 points in April. Survey: Eurozone is in its deepest recession in its existence. CRIF: Measures have cost companies and entrepreneurs hundreds of billions of CZK. Experts: A drop in confidence was expected, numbers may improve in May. The Ministry of Finance sold bonds for 73.9 billion CZK today, interest continues. ČEPS's pre-tax profit increased by more than a fifth last year to 4 billion CZK. Maláčová: The Ministry of Labour and Social Affairs has a plan in place to open social services. EIU: The global economy could go through a double recession. The economy may fall by up to 11 percent this year, according to estimates. Iran has over 80,000 coronavirus infections and more than 5,000 deaths. AP: China is trying to revive the economy, but consumers are saving. The Ministry of Finance will propose exempting spilled beer from excise duty. Reuters: Queues are growing outside food banks on the outskirts of Paris. The economy is being crushed by the coronavirus, jobs are being lost and the outlook is not good. The committee assessed the Ministry of Finance's economic development estimates as optimistic. Russia reports 3,448 new coronavirus infections, another record. Governor: Australian economy will weaken the most since the 1930s.

Stock exchanges: The price of gold in euros has exceeded 1,600 euros for the first time. WTI oil has fallen by 306 percent, sellers still have to pay.

Finance: American Express has significantly lower profits due to the coronavirus. Michl will propose to the central bank to reduce the rate to 0.5 percent. S&P agency confirmed the ratings of Italy and Britain. Vice-governor of the Czech National Bank: The Czech Republic has the advantage of not being part of the eurozone. Banks will join smart quarantine at the beginning of next week. Bank of America and Goldman earned significantly less due to reserves. CRIF Group completed the acquisition of Strands. HSBC bank's profit fell by almost half due to coronavirus. Large American banks are seeing a sharp drop in profit, they are creating reserves. Index: The average Czech investor in funds lost 10 percent this year. Large banks received almost 200,000 requests for loan repayment deferrals. Deutsche Bank expects a profit for the first quarter, the market expected a loss. Dědek: The Czech National Bank should take advantage of the situation and reduce the main interest rate to zero. UBS bank increased its profit by 40 percent thanks to its asset management division. ECB will start accepting lower-quality bonds as collateral due to the virus. Insurance companies have started to open some of their branches. Patria: The budget deficit this year may be over half a trillion crowns.