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 -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 £5 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 ‘record’ high
The price of gold reached a “record high” of $1,943 (£1,513) per ounce this morning (27 July), amid increasing tensions in the US and China trade row. The price rise of 2.2% saw gold overtake its previous record that was recorded in the wake of 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. After a ‘hot tip-off’ 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 decision—permanently closing down eight stores, where 1,300 workers are now at risk of losing employment. “Closing a shop is always incredibly difficult and today’s 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 “number” 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. According to the authority, inspectors will be “out and about”, spot-checking employers that they are complying with health and safety law. HSE defines “Covid-secure” as being “adaptable…
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9 JulyRetailers
Bira ‘disappointed’ mini-budget does ‘not help indie retailers’
The British Independent Retailers Association (Bira) has expressed its “disappointment” that Chancellor Rishi Sunak’s mini-budget does not “directly help retail business owners”. 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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7 JulyEconomy
Usdaw urges chancellor to announce retail recovery plan
Retail trade union Usdaw is calling on the chancellor to announce in Wednesday’s (8 June) economic statement an “urgent recovery plan” for the “struggling retail industry”, which is developed with trade unions and retail employers. Some of the factors, Usdaw is urging the government to cover fundamental business rates, an…
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3 JulyEconomy
Consumer confidence increases in June
GfK’s fourth Covid-19 flash report has revealed Consumer Confidence Index increased by three points to -27 over the past two weeks. Joe Staton, GfK‘s client strategy director, said after the recent “near-historic low” of -36 for the Consumer Confidence Barometer last month, there are some early signs of improvement across…
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Jun- 2020 -30 JuneCoronavirus
Reopening is ‘no magic bullet’ for retail, says BRC
Reopening is “no magic bullet” for retail, the British Retail Consortium has warned despite UK footfall improving since lockdown restrictions were lifted earlier this month. The BRC’s footfall tracker found that UK footfall decreased 53.4% year-on-year during the second week of reopening in England and NI. This is compared to…
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