Current Affairs
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Mar- 2025 -20 March
BoE holds interest rates at 4.5%
The Bank of England (BoE) has voted to hold interest rates at 4.5%, having cut the rate last month to its lowest level since June 2023. At its meeting ending on 19 March, the bank’s monetary policy committee (MPC) voted by a majority of 8–1 to maintain the rate at…
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Oct- 2022 -20 October
Liz Truss steps down as prime minister
Liz Truss has announced that she is standing as prime minister after a turbulent week for the government, just six weeks after taking up the premiership. The statement of her resignation was made at 13:30pm today (20 October) following a meeting between Truss and Sir Graham Brady, chairman of the…
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Jun- 2022 -27 June
UK sanctions Russian gold exports
New exports of Russian gold will no longer be allowed to enter the UK, Canada, US and Japan due to new measures announced at the G7 Summit yesterday (26 June), in a bid to ramp up the pressure on Putin amid his attack on Ukraine. Gold is reportedly Russia’s biggest…
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Mar- 2022 -8 March
Richemont suspends operations in Russia
Richemont has announced that it has suspended all commercial activities in Russia, following its prior announcement of stopping operations in Ukraine on 24 February. The company said it is in close contact with its people on the ground and ensuring they receive financial, logistic and moral support. Richemont has also…
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3 March
Gold prices spike amid Russian invasion of Ukraine
Prices of gold have reportedly surged to the highest level in more than a year in the hours after the Russian invasion of Ukraine on 24 February 2022, which the National Association of Jewellers (NAJ) said benefits from its appeal as a “safe haven” to investors. Bullion prices also rose…
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Jan- 2022 -19 January
Inflation hits 30-year high
Inflation reached 5.4% in December, its highest rate since CPIH stood at 5.1% in May 1992, according to the latest figures from the Office for National Statistics (ONS). It revealed the consumer prices index including owner occupiers’ housing costs (CPIH) rose 4.8% in the 12 months to December 2021, up…
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Mar- 2021 -26 March
88% of consumers prefer quality over trends, says De Beers
The De Beers Group has announced that 88% of US consumers believe it is better to invest in fewer, longer lasting jewellery items rather than short-term fashionable trends. The group’s latest diamond insight flash report analysed the changing opinions towards lab-grown diamonds (LGD), with 47% of respondents disagreeing that LGDs…
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3 March
RJC urges industry leaders to adopt sustainable change
The Responsible Jewellery Council (RJC) has published an open letter to jewellery industry leaders, urging them adopt sustainable practices within their businesses. Last year, the trade association stated its “decade of action” in its bid to reach its ‘17 Sustainable Development Goals’, an initiative set up to combat climate-change related…
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Jan- 2021 -19 January
Sunak looks to raise corporation tax in March budget
Chancellor Rishi Sunak is reportedly looking to raise corporation tax in the upcoming March budget to pay off the estimated £400bn borrowed by the UK throughout the pandemic. According to The Financial Times, the alleged move has sparked uproar among business owners who claim they are still struggling with the economic impact of Covid-19. However, it…
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18 January
Jewellery industry to become sustainability leader, says new report
The new Jewellery Trend Report by jewellery brand Taylor & Hart has identified that the industry will become a leader in environmentalism and sustainability in the coming years. According to the report, two-thirds of brands are currently monitoring their environmental impact more closely, while consumers are also purchasing jewellery and…
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