Economy
The economy has a direct influence on the UK jewellery trade, affecting consumer spending, material costs, and business confidence across the sector. For jewellers, manufacturers, and suppliers, staying informed on economic trends is vital to planning and resilience. Jewellery Focus provides expert coverage of economic developments impacting the trade, including inflation, interest rates, consumer confidence, and supply chain challenges. Our reporting helps jewellery professionals understand the wider market forces shaping their business environment.
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Feb- 2021 -24 FebruaryCoronavirus
Scotland to reopen non-essential retail from 26 April
First minister Nicola Sturgeon has announced that non-essential retailers in Scotland will be able to reopen from 26 April.ย Sturgeon outlined the countryโs exit out of lockdown restrictions yesterday (23 February), giving businesses a timeframe of when they can expect to reopen. Scotlandโs stay-at-home order is likely to remain in…
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17 FebruaryEconomy
Scotland extends rates holiday for another year
The Scottish government has confirmed that it is extending 100% of its business rates relief for the hospitality, retail, leisure and aviation sectors for another year. Finance secretary Kate Forbes confirmed the extension earlier this week (16 February) in Holyrood, putting pressure on Rishi Sunak to match the extension in…
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Dec- 2020 -17 DecemberCoronavirus
Furlough scheme extended until April 2021
The furlough scheme has been extended until the end of April 2021 with the government continuing to contribute 80% towards wages to employeeโs pay, Chancellor Rishi Sunak has confirmed today (17 December).ย The government will also extend current government-guaranteed Covid-19 business loan schemes until the end of March.ย This includes…
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8 DecemberAnalysis
The final frontier
The universe is infinite, and so likley are its resources. One of the earliest thinkers of the modern space-mining is John S. Lewis, the current professor emeritus of planetary science at the University of Arizonaโs Lunar and Planetary Laboratory. He wrote his book, Mining the Sky, as early as 1997.…
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Nov- 2020 -5 NovemberCoronavirus
Chancellor extends furlough scheme to March
Chancellor Rishi Sunak has announced that the furlough scheme will be extended until the end of March, amid increased measures for business support as the UK enters a four-week lockdown. Payments are set to remain at 80% of employeeโs wages. It comes as the chancellor said that it was โright…
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Oct- 2020 -28 OctoberCoronavirus
Retail sales drop at sharpest pace since June
Retail sales figures in the UK have fallen at the sharpest pace since June, according to the Confederation of British Industryโs (CBI) latest monthly Distributive Trades Survey. In the survey of 116 firms, including 54 retailers, non-food retail categories such as department and clothing were among those reporting falling sales.…
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6 OctoberRetailers
Watches of Switzerland raises guidance as sales surge
Watches of Switzerland has announced that revenue for the first 10 weeks of Q2 has been โstronger than expectedโ at ยฃ202.7m, up 20.2% in constant currency and 18.3% in reported terms against the prior year. The group also reported sales to date of ยฃ145.1m, up by 12.6% against the prior…
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Sep- 2020 -28 SeptemberCoronavirus
ยฃ3bn tariff ahead for UK retailers and consumers, warns BRC
Supermarkets and their customers could face ยฃ3bn a year of tariffs on food and drink if a free trade deal is not agreed between the UK and the EU before 1st January 2020, The BRC has warned In its report the association said an average increase in tariffs of 20%…
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24 SeptemberCoronavirus
Chancellor set to unveil furlough replacement after Budget cancellation
Chancellor Rishi Sunak has cancelled this yearโs Budget but is set to unveil new measures aimed at protecting employment and the UK economy in parliament later today (24 September). It is thought the new measures will replace the current furlough scheme, which is set to expire at the end of…
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18 SeptemberCoronavirus
Mayor of London urges government to extend business rates holiday
The mayor of London, Sadiq Khan, and London Councils have joined together to urge the Government to extend the business rates holiday and help protect thousands of jobs in London and across the country. Businesses in the retail, hospitality, leisure and childcare sectors are currently benefiting from 100% relief…
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