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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Mar- 2022 -15 MarchTrade Organisations
NAJ expands team through gov kickstarter scheme
The National Association of Jewellers has welcomed Ahmed Mohammed and Mojtaba Noori into its team as part of the government-funded Kickstart scheme. Mohammed and Noori have joined the team as part of the UK’s plan to help people aged between 16-24 to get back into work. The Kickstart scheme was…
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9 MarchManufacturers
Petra Diamonds Tender 4 sales hit $140.6m
Petra Diamonds Limited has announced its Tender 4 sales hit $140.6m (£106.89m) in FY22, following the sale of 735,222 carats. The announcement comes as the group reported its YTD sales reached $405.3m (£308.12m), while full year sales in FY21 were $406.9m (£309.34m), with further tenders for FY22 due to be…
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Feb- 2022 -23 FebruaryRetailers
New report indicates extent of high street challenge, says Bira
A report released by PwC about a study on how the high street is fairing shows how “challenging the high street continues to be”, according to The British Independent Retailers Association (Bira). The report, released this week, highlighted how store closures for chains and multiples slowed versus the last two…
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7 FebruaryEconomy
Consumer confidence falls for second consecutive quarter
The Deloitte Consumer Tracker has revealed UK consumer confidence fell by one percentage point in Q4 2021 to -11%, the second consecutive quarter of decline. Deloitte said the result comes after consumers started to feel the “squeeze of inflation” and pockets were hit with higher household bills. Personal expenditure in…
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3 FebruaryNews
BoE raises interest rates to 0.5%
The Bank of England (BoE) has raised interest rates for the second time in three months to 0.5%, up from 0.25% previously. The BoE Monetary Policy Committee (MPC) confirmed it voted by a majority of 5-4 to increase Bank Rate by 0.25 percentage points, to 0.5%. Interestingly, it revealed those…
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Oct- 2021 -27 OctoberEconomy
Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure
Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…
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19 OctoberRetailers
Chloé achieves B Corp certification
Luxury fashion house Chloé has achieved B Corp certification, Richemont has announced. The certification comes in line with Chloé’s mission ‘Women Forward. For a Fairer Future’ and provides the brand with a framework to “accelerate and guide” its transformation in becoming a purpose-driven model. By becoming B Corp certified, Chloé…
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5 OctoberTrade Organisations
RJC partners with Paola De Luca on sustainability programme
Responsible Jewellery Council (RJC) has announced a new collaboration with luxury analyst Paola De Luca, to deliver three complementary course programmes about sustainability, recycling and responsible materials management to jewellery designers around the world. The webinar modules, endorsed by the RJC, will take place on 20 October, 3 November and…
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Jul- 2021 -15 JulyManufacturers
Alrosa releases inaugural impact report for 2010s
Alrosa, a global diamond mining company, has released its inaugural impact report, covering the period 2010 to 2020. The report focuses on Alrosa’s Yakutia, Russia region, which is home to 90% of the group’s operations. According to Alrosa, the firm contributed approximately $22bn (£15.9bn) to the region’s local economy over…
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2 JulyRetailers
Furlough numbers drop by almost half
The number of people on furlough has almost halved in three months to the end of May 2021, according to HM Treasury. More than one million workers came off furlough in the four weeks between the end of April and the end of May which coincided with the start of…
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