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.
-
Mar- 2017 -8 MarchEconomy
Budget 2017: Government unveils ยฃ300m business rate relief fund
The government has helped soften the blow of Aprilโs business rate revaluation with a ยฃ300m relief fund for local councils. The announcement was made by chancellor Philip Hammond at todayโs Spring Budget, in which he said business rates raise ยฃ25bn each year – all of which, by 2020, will be…
Read More » -
Feb- 2017 -14 FebruaryE-Commerce
New government cyber security centre opens
A new cyber security centre has been officially opened by the Queen today, in a bid to protect companies and the government from cyber attacks. The governmentโsย National Cyber Security Centre (NCSC) will use the new London office as its “operational nerve centre” in a bid to stop the growing threat…
Read More » -
Nov- 2016 -10 NovemberCurrent Affairs
Rapaport: Trump victory will improve economy
Trumpโs election victory coupled with Republican control of Congress willย set the stage for improved economic conditions that will support increased demand for diamonds and jewellery, according to the Rapaport Group. In a statement on the US election result, the firm said lower taxes, higher domestic employment and the end of…
Read More » -
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 ยฃ4bn 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…
Read More » -
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 โcould result…
Read More » -
Jun- 2016 -24 JuneCurrent Affairs
NAJ: The UKโs vote to leave the EU will โtake some time to settle inโ
Michael Rawlinson, CEO of the National Association of Jewellers (NAJ), has said the news of the UKโs vote to leave the EU is going to โtake some time to settle inโ. In a dramatic night in political history, the UK voted to leave the EU with the Leave campaign edging…
Read More » -
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 Britainโs membership of the European Union has dominated the news both at home and internationally, with hysterical doomsday…
Read More » -
May- 2016 -18 MayAuctions
Pink diamond sells for record-breaking ยฃ21.8m
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 โUnique Pinkโ – sold for $31.56m (ยฃ21.8m) at Sothebyโs Geneva on Tuesday 17 March and became the most…
Read More » -
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. Thatโs 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…
Read More » -
Mar- 2016 -16 MarchEconomy
BUDGET: CBI welcomes business rates policy
The Confederation of British Industry (CBI) has calledย George Osborne’s Budget, announced today,ย a “strong and stable Budget for business facing global stormy waters”.ย CBI director general, Carolyn Fairbairn, said:ย โThe Chancellor has listened to our concerns about the mounting burden on firms and chosen to back business to grow the economy out…
Read More »
