Consumers set to spend ‘£1.6bn more’ this Christmas

Retail sales this December are forecast to rise by 4% year-on-year, with consumers expected to spend £42.8bn – £1.6bn more than Christmas last year. The research – released by business advisory firm Deloitte – also found online retail sales are expected to grow by more than a fifth (21%) from…

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De Beers unveils £3.9m expansion of its Surat diamond grading centre

De Beers, the world’s largest diamond mining company, has unveiled an expansion at its Surat diamond grading and testing centre. The $5m (£3.9m) expansion plan at its International Institute of Diamond Grading and Research (IIDGR) – part of the De Beers Group of Companies – follows the group’s initial $10m…

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Raid at Edinburgh jewellers after thieves smash through neighbouring barbers

Jewellery has been stolen from an Edinburgh jewellers after a gang of raiders smashed their way through the wall of a neighbouring barbers to gain entry. Thousands of pounds worth of 18-carat diamond pendants and bracelets were stolen from Theodore David Jewellers in Inverleith, Edinburgh, on Sunday 4 December after…

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SME growth threatened by ‘unpaid debts’

Over three quarters (75%) of a small and medium-sized business (SMEs) have written off unpaid debts in the past year, according to research from Amicus Commercial Finance. The report found the average amount written off by UK SMEs in the last year was £11,708, representing just under £50bn in written…

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FF Group reports revenue jump despite “volatile” markets”

FF Group – owner of Links of London and Folli Follie – has posted revenues of €956.2m (£814m) in the first nine months of the year, despite “volatile” markets. The posted revenues were a 9.2% increase on the same period last year when the company reported revenue €875.5m. Earnings before…

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Polished diamond prices increase in November

Polished diamond prices increased in November, despite a slowdown in trading as Indian liquidity dried up and manufacturing shut down for Diwali. The latest RapNet Diamond Index (RAPI) from the Rapaport Group sentiment improved as the month began, with stock markets rallying to record highs on Thanksgiving weekend (28 Nov)…

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Jewellery worth £35,000 stolen from Gainsborough jewellers

Jewellery worth £35,000 was stolen from a jewellers in Gainsborough during a Christmas-lights switch on event in the town. The theft took place at some point between 7.30pm and 8pm on Friday 18 November, when a diamond necklace and five diamond rings were stolen from Stanley Hunt Jewellers in Marshalls…

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Shop prices fall for 43rd consecutive month

Shop prices fell 1.7% in November, the 43rd consecutive month of declines and unchanged from October’s rate of deflation. The latest British Retail Consortium (BRC) and Nielsen Shop Price Index also revealed non-food deflation accelerated to 2.3% during the month from the 2.1% recorded in the previous two months –…

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14-carat Kashmir sapphire fetches £1.38m at auction

An “extremely rare” Kashmir sapphire single-stone ring has gone under the hammer for £1.38m. The 14.13-carat stone was the subject to “fierce bidding” at the Bonhams Fine Jewellery sale in London on Sunday 4 December, selling for more than its pre-sale estimate of £600,000 to £800,000. Jean Ghika, head of…

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Jewellery industry celebrated at NAJ 2016 awards

The winners of the National Association of Jewellers (NAJ) awards were unveiled last night (1 December) at the annual Jewellery & Giftware Benevolent Ball. The ceremony, which welcomed 370 guests, was held in Solihull and aims to celebrate “all that is excellent” about the UK’s diverse jewellery industry from its…

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