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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Aug- 2020 -7 AugustCoronavirus
Poor July sales rock high street recovery
Poor in-store sales through the month of July have โdampened hopes of a recoveryโ across UK high streets, according to the latest High Street Sales Tracker from BDO. In-store like-for-like sales decreased by 39.4% last month, down from a marginal base of 0.1% that was reported the year before.ย According…
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7 AugustRetailers
Usdaw warns business rates increase could risk more jobs
Retail trade union Usdaw has expressed โmajor concernsโ over reports that the government is considering increasing business rates for premises with a rateable value over ยฃ51,000. The news comes as reports suggest Rishi Sunak is considering increasing business rates in an effort to boost the UK economy. Instead, Usdaw is…
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6 AugustCurrent Affairs
Price of gold hits โrecordโ high
The price of gold has topped $2,000 (ยฃ1,527) an ounce for the first time in history, as investors look to move cash into gold amid increased concerns over the global economy and geo-political tensions.ย The price of gold first hit a โrecordโ high last week, when its price was bumped…
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3 AugustRetailers
Loans boost announced for independent retailers
More coronavirus support loans are to be made available to independent retailers following a change to state aid rules. Changes to the rules mean that more small businesses can now benefit from loans of up to ยฃ5 million under the Coronavirus Business Interruption Loan Scheme (CBILS). Previously businesses which were…
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Jul- 2020 -27 JulyCurrent Affairs
Price of gold reaches โrecordโ high
The price of gold reached a โrecord highโ of $1,943 (ยฃ1,513) per ounce this morning (27 July), amid increasing tensions in the US and China trade row.ย ย The price rise of 2.2% saw gold overtake its previous record that was recorded in the wake ofย Black Monday in September 2011.…
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20 JulyFeatures
Make consumers feel like a million dollars again
On Thursday 19 March, I found myself driving as fast as I could up the A12 towards the Suffolk countryside.ย After a โhot tip-offโ that a lockdown was coming, we packed the cars, abandoned our London flat and decided to batten down the hatches amongst the green pastures of East…
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17 JulyTips
Going online – John Lewis closes down eight stores as Covid progresses
Following the havoc caused by COVID-19, the John Lewis Partnership has shocked the world with a difficult decisionโpermanently closing down eight stores, where 1,300 workers are now at risk of losing employment.ย โClosing a shop is always incredibly difficult and todayโs announcement will come as very sad news to customers…
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16 JulyCoronavirus
NAJ set to cut jobs
The NAJ has confirmed it is facing a โnumberโ of redundancies following a widespread restructuring programme across several trade associations. The proposed plan was confirmed by the NAJ following the publication of a statement from the British Allied Trades Federation (BATF) interim CEO, which was sent to all federation and…
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13 JulyCoronavirus
Businesses must remain Covid-secure, warns HSE
The Health and Safety Executive (HSE) has warned businesses that they must ensure they are Covid-secure as lockdown measures ease across the UK.ย According to the authority, inspectors will be โout and aboutโ, spot-checking employers that they are complying with health and safety law.ย HSE defines โCovid-secureโ as being โadaptable…
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9 JulyRetailers
Bira โdisappointedโ mini-budget does โnot help indie retailersโ
The British Independent Retailers Association (Bira) has expressed its โdisappointmentโ that Chancellor Rishi Sunakโs mini-budget does not โdirectly help retail business ownersโ. Sunak announced a raft of further measures to support the recovery of the economy following the coronavirus lockdown, in Parliament yesterday (8 July). Features of the budget included…
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