Economy
-
Jan- 2020 -17 January
Gold and silver fall in December hallmarking
The number of gold and silver pieces hallmarked in December 2019 decreased by 7.1% and 12.7% respectively, according to figures compiled by the Birmingham Assay Office. Gold hallmarked pieces decreased from 312,281 to 290,186 and silver items decreased from 373,756 to 326,442 during the month. Additionally, palladium decreased by 37.7%…
Read More » -
10 January
‘Worst year on record’ for retail, says BRC
Total retail sales decreased by 0.1% in 2019, compared with the 1.2% increase recorded in 2018, making it the “worst year on record” for retail according to the BRC. Helen Dickinson, CEO of the BRC, said this was reflected in the CVAs, shop closures and job losses that the industry…
Read More » -
Dec- 2019 -6 December
Tiffany reports fall in both Q3 and FY earnings
Tiffany has reported a decline in net earnings for both its third quarter and year-to-date results. For the third quarter ending 31 October, net earnings were down 17% at $78m (£59.4m) compared to the prior year’s $95m (£72.4m). In the year-to-date, net earnings were 11% lower at $340m (£259.2m), compared…
Read More » -
Nov- 2019 -1 November
Treasury Committee urges MPs to reform ‘broken’ business rates
The government has been urged to fix the “broken” business rates system as it is continuing to affect high street retailers, a Treasury committee has said. An influential group of MPs has asked the government to examine alternatives to property tax, which puts more pressure on high street retailers than…
Read More » -
Oct- 2019 -29 October
Louis Vuitton owner bids to take over Tiffany and Co
Luxury group, LVMH, has confirmed it is in talks to takeover Tiffany and Co. LVMH said in a statement yesterday (28 October): “In light of recent market rumours, the LVMH Group confirms that it has held preliminary discussions regarding a possible transaction with Tiffany’. There can be no assurance that…
Read More » -
17 October
GIA commits $1.3m to artisanal mining education project
Gemological Institute of America (GIA) in Tanzania will expand distribution of its gem guide for artisanal miners to other communities and countries in Africa. Speaking at the ICA Congress in Bangkok on 15 October, GIA President and CEO Susan Jacques announced a four-year, $1.3m (£1m) commitment, funded from the GIA…
Read More » -
15 October
BRC ‘disappointed’ with business rates relief in Queen’s speech
The British Retail Consortium has responded to the Queen’s speech, praising its approach to crime and sustainability but was “surprised and disappointed” at its approach to business rates. Commenting on the speech, which tackled issues such as immigration, crime, business rates and brexit, The BRC said: “The Government should implement…
Read More » -
Sep- 2019 -27 September
BHC introduces new Hallmarking Dealer’s Notice
The British Hallmarking Council (BHC) has introduced a new Hallmarking Dealer’s Notice which is now available and becomes compulsory on 1 May 2020. The Dealer’s Notice, which must be displayed by all dealers supplying precious metal jewellery, has been updated to add two new marks. The updated version incorporates a…
Read More » -
Aug- 2019 -30 August
Jewellery sector forecast to reach £5.9bn in sales in 2019
The jewellery and watch industry is anticipated to rise to £5.9bn in 2019, according to new research from Mintel. According to Mintel’s upcoming Jewellery and Watches Retailing UK 2019 report, demand for jewellery and watches in the UK has remained “robust”, with sales reaching £5.7bn in 2018, up 2.9% from…
Read More » -
20 August
Gold slumps 7.3% in July hallmarking
The number of gold pieces hallmarked in July 2019 decreased by 7.3%, according to figures compiled by the Birmingham Assay Office. Palladium also decreased by 30.3% to 4356 pieces hallmarked, and the amount of platinum pieces hallmarked during the month decreased by 2% to 26,599 items. However, the average volume…
Read More »
