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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Apr- 2020 -22 AprilAdvice
Will there be coronavirus help for small company directors who are paid by dividend?
The financial plight of limited company directors has been raised by the Tory chairman of the Treasury select committee. Mel Stride, a former Treasury minister, said chancellor Rishi Sunak needs to view company directors as a tranche of people who have โslipped through the netโ of all the other largesse…
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20 AprilCoronavirus
Coronavirus Job Retention Scheme portal goes live
The portal for the Coronavirus Job Retention Scheme is now live, with the government saying that businesses with validated claims will receive payments within at least six days. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee, subject to…
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16 AprilCoronavirus
Government extends lockdown for โat leastโ three more weeks
The government has announced an extension to the coronavirus lockdown for โat leastโ a further three weeks. The decision was announced at todayโs (16 April) press briefing which was led by foreign secretary Dominic Raab. It also comes after Raab led an emergency Cobra committee and cabinet meetings about the…
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3 AprilCoronavirus
Chancellor unveils new measures to SME loan scheme
Chancellor of the exchequer Rishi Sunak has unveiled a major overhaul to his previously announced SME loan scheme. Initially, the Coronavirus Business Interruption Loan Scheme (CBILS) was aimed at businesses unable to secure regular commercial financing as the virus took its toll on the UKโs economy. However, according to Sky…
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1 AprilCoronavirus
A fifth of SMEs at risk of collapse, say experts
Almost a fifth of SMEs will not survive the coronavirus crisis, according to new findings from the Corporate Finance Network.ย The group predicted that the closures would take place within the next four weeks despite government support measures, as the pandemic continues to unfold and affect retail. The network, which…
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Mar- 2020 -26 MarchBusiness Bites
Wetherspoonsโ boss was right to withhold wages
The media and the Twitterati have had a field day vilifying the founder and owner of pub chain Wetherspoons over his decision not to pay his staff in light of the coronavirus restrictions. Tim Martin had sent an email to his 43,000 staff saying he could not afford to pay…
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23 MarchCoronavirus
PM bans ‘non-essential retail’, instructs public to stay at home
The UK public are only allowed to venture out of their homes for essential supplies and one exercise outing per day, or face fines, under new measures introduced this evening by the prime minister. In a recorded address filmed in No 10 Downing Street, Boris Johnson said the police will…
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18 MarchCurrent Affairs
Pandora withdraws financial guidanceย
Jewellery group Pandora has announced the withdrawal of its financial guidance as it is โno longer meaningfulโ in light of the coronavirus escalation.ย The group said that such mitigating actions came under โextraordinary and rapidly developingโ circumstances, and that its financial guidance announced on 4 February excluded โany impactโ from…
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11 MarchBusiness Bites
ROUNDUP: Business rates holiday announced by chancellor Sunak
In his maiden budget, the new chancellor, Rishi Sunak, has announced a ยฃ30bn fiscal stimulus package to help combat the impact of coronavirus on the British economy including a one-year total suspension of business rates for small retail, leisure and hospitality businesses. Headline measures include: A ยฃ12bn plan to provide…
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4 MarchBusiness Bites
Coronavirus is stepping up a gear โ this could be serious
When I started this column back in December I did not anticipate a single subject would dominate it so much, but as I wrote last week it would be silly not to address the latest coronavirus circumstances given that each new development so far has had a profound impact on…
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