Demand for mechanical and vintage timepieces on the rise

The Sale Room has reported a “significant” increase in demand for mechanical watches and vintage timepieces in the month since the nationwide lockdown began.   The marketplace for art, antiques and collectables auctions said that these items have seen a 13% increase in demand on thesaleroom.com since 23 March.  It added…

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Bira calls on chancellor to bin rates reform Bill

The British Independent Retailers Association (Bira) is urging the government to scrap plans to bring forward the next revaluation of business rates to April 1, 2021. Bira has joined other heads of the retail sector in calling Chancellor Rishi Sunak to withdraw ‘disastrous’ legislation, due to be discussed today (Wednesday,…

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The aviation industry is now in very serious trouble

In a sign of just how distressed the aviation industry is, British Airways has announced plans to lay off 30% of its workforce, or about 12,000 employees, and says it expects it to take several years before passenger volumes return to 2019 levels. The chief executive, Alex Cruz, wrote to…

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How to clean your jewellery at home

In the midst of the coronavirus pandemic, it’s now more important than ever to clean your jewellery and make sure that it’s free from germs and debris. Although jewellery stores are not currently open in line with BRC advice, it’s easy enough for you to clean your own jewellery at…

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Laings recognised by Sunday Times Profit Track

Luxury jewellery retailer Laings has been named one of the fastest-growing UK companies for profits growth by The Sunday Times. The jewellers featured in the 21st annual Sunday Times Profit Track as one of Britain’s private companies with the fastest-growing profits over the last three years.  It ranked at number…

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IJL extends deadline for KickStart applications

The IJL has announced that its deadline for online applications for the IJL KickStart mentorship competition has now been extended to 1 June in light of the ongoing pandemic.  Andy Ventris, IJL show director, said: “Extending the deadline is to ensure that we are giving all designers who wish to…

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Bira welcomes 100% government-backed loans for small businesses

The British Retailers Association (Bira) has welcomed a new government scheme to offer 100% taxpayer-backed loans for the UK’s small businesses. Yesterday (27 April), Rishi Sunak announced the scheme would start next week offering firms loans of up to £50,000 within days of applying. To access the loans, which are…

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UK economy not expected to recover until 2023, study suggests

The UK’s economy is not expected to return to normal until 2023 due to the coronavirus pandemic, according to a new report issued by economic forecasting group EY Item Club. The group has warned that it is likely to take three years for the UK economy to return to the…

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Job support to be wound down, M&S dividend suspended, ventilator production slows, property market halts

Chancellor Rishi Sunack says he will wean the economy off his support schemes in a “gradual” wind-down, to help prevent soaring unemployment on ‘expiration day’. His announcement, made to MPs, came in response to concerns that a definite cut-off date would produce an explosion in redundancies and layoffs. Currently, the…

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Chancellor announces 100% guarantee on small business loans

Chancellor Rishi Sunak has announced the launch of a new ‘bounce back’ emergency loan scheme for small businesses, which will offer 100% guarantees on emergency loans. Today (27 April) Sunak told the House of Commons that the scheme would begin next week, offering SMEs loans of up to £50,000. The…

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