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- 2016 -22 AugustCurrent Affairs
‘Unfair contract terms’ costing small firms billions
Half (52%) of small firms have been stung by unfair contract terms with suppliers, costing nearly £4bn in the last three years. New research from the Federation of Small Businesses (FSB) found suppliers are failing to make auto-rollover clauses clear (24%), tying business into lengthy notice periods (22%), charging high…
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Jul- 2016 -26 JulyEconomy
Natwest and RBS to consider charging businesses to hold money
Natwest and the Royal Bank of Scotland (RBS) are mulling applying negative interest rates to business accounts and have warned this could mean charging businesses to hold deposits. In a letter to just under 1.3 million commercial and business customers, the banks said very low interest rates globally “could result…
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Jun- 2016 -24 JuneCurrent Affairs
NAJ: The UK’s vote to leave the EU will ‘take some time to settle in’
Michael Rawlinson, CEO of the National Association of Jewellers (NAJ), has said the news of the UK’s vote to leave the EU is going to “take some time to settle in”. In a dramatic night in political history, the UK voted to leave the EU with the Leave campaign edging…
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10 JuneEditor's Blog
EU knows?
By the time next time I write my letter for this column, the British public will have made the biggest decision they are likely to make for several generations. The referendum on Britain’s membership of the European Union has dominated the news both at home and internationally, with hysterical doomsday…
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May- 2016 -18 MayAuctions
Pink diamond sells for record-breaking £21.8m
The seller of the most expensive polished diamond ever sold at auction has broke another record with the sale of the largest fancy vivid pear-shaped pink diamond. The 15.38-carat diamond – named ‘Unique Pink’ – sold for $31.56m (£21.8m) at Sotheby’s Geneva on Tuesday 17 March and became the most…
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12 MayEconomy
UK gold jewellery demand up 1% despite worldwide decline
Demand for gold jewellery in UK increased by 1% in the first quarter of 2016, despite an overall gold jewellery decline. That’s according to the latest report from the World Gold Council (WGC), which found global gold jewellery demand fell 19% in the first quarter of the year to 482…
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Mar- 2016 -16 MarchEconomy
BUDGET: CBI welcomes business rates policy
The Confederation of British Industry (CBI) has called George Osborne’s Budget, announced today, a “strong and stable Budget for business facing global stormy waters”. CBI director general, Carolyn Fairbairn, said: “The Chancellor has listened to our concerns about the mounting burden on firms and chosen to back business to grow the economy out…
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14 MarchEconomy
Retail footfall declines in February
Retail footfall has declined by 1.1% in February compared with the same period last year, according to the British Retail Consortium. UK Summary Footfall in February was 1.1% down on a year ago, lower than the 1.2% rise seen in January and lower than the three-month average rate of -0.8%.…
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10 MarchCurrent Affairs
MPs reject Sunday trading hour extension
The government’s proposed plan to extend Sunday trading hours has been rejected after MPs voted against the bill. The plans were rejected as MPs voted 317 to 286 to scrap the proposal. The Labour Party and the Scottish National Party (SNP) voted against the plans, along with 27 Conservative rebels.…
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9 MarchCurrent Affairs
SNP vote threatens extension to Sunday trading hours
A proposed bill to extend Sunday trading hours is under threat after the Scottish National Party (SNP) said it will vote against the plans. Under the government plans, Sunday trading hours for high street shops would be devolved to local authorities. Local councils would be given the power to extend…
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