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...Globally, the jewellery market continues to be sluggish and, of the few companies that report results, they’re all having a rougher ride than us,” said Lacik....
...Those came from Belgium, home to a crucial global trading hub in Antwerp; France with its large jewellery sector; India, the world’s biggest diamond cutting centre; and the World Diamond Council, an industry...
...The Cotswolds-based laboratory-grown diamond producer is the brainchild of Dale Vince OBE, founder of green energy company Ecotricity....
...The new company began trading in the US in November 2022....
...Besides diamonds, the London-based company managed to maintain its guidance across its other commodities such as copper, iron ore and steelmaking coal....
...Diamonds may be forever but they are also seriously on sale. Natural rough diamond prices have collapsed 26 per cent in the past couple of years....
...Like, which companies are affected by this rise in lab-grown? Alan LivseyTwo really big makers control about two-thirds of the diamond market worldwide....
...Many companies are producing synthetic diamonds, not only for jewellery but in the hope of new industrial uses, from electrical vehicle components to energy storage....
...was forced to liquidate its Singapore unit Petro-Diamond in 2019 after a rogue trader lost more than $300mn through unauthorised transactions....
...The company has backing from Leonardo DiCaprio, who invested after working on Blood Diamond, the 2006 film that brought to light the exploitative conditions of the mining industry....
...Diamond output by the mining giant De Beers is down 23% this quarter. Demand is slowing as a bounce from the coronavirus pandemic wears off and synthetic diamonds eat into market share....
...Decker believes the higher profile of some “artistic” jewellers is down to “a certain zeitgeist” for individuality, instead of people simply looking to buy large diamonds....
...Managing partner Edahn Golan says the lower cost of lab-grown stones means people are buying bigger diamonds, and this has created a “halo effect” with natural diamonds....
...Diamond will publish its targeted valuation as a reorganised company in the coming weeks....
...Diamond and Ricci are hoping to defy a slump in company listings and a dearth of dealmaking, which has hit a sector that is reliant on advising companies on deals and providing research to make money....
...Falling diamond demand has bucked the rebound in China’s luxury market, which grew 12 per cent in 2023, driven by fashion, jewellery and handbag purchases, according to research by consultancy Bain & Company...
...In today’s newsletter: London brokers cling together BYD seeks LatAm lithium JetBlue’s deal turbulence Bob Diamond bets UK market has hidden gems Former Barclays boss Bob Diamond has come a long way...
...The EU has struggled to adopt an import ban on diamonds over the past year given Belgium’s fear that it would lose its position as a major trading hub for the valuable stones....
...The company made $1.9bn of revenue in the first half of 2022....
...Prime Video “will become Diamond’s primary partner through which customers will be able to purchase direct-to-consumer access to stream local Diamond channels”, Diamond said in a statement....
...G7 nations have agreed the details of their sanctions on Russian diamond trading, including a phased-in ban on the stones through 2024....
...The company also cut the dividend to $0.96 per share for a total of $1.2bn for 2023 — a 52 per cent fall on the year....
...The EU has added Russia’s state-owned Alrosa, the world’s largest diamond miner, to its sanctions list along with the company’s chief executive Pavel Marinychev....
...When I started my own company (in 1960), without thinking about it, I chose a green background for the promotions of my jewellery. I’m sure it was planted deep in my subconscious from that time.”...
...Cook believes the company can sell its message better and has brought back the iconic “A Diamond is Forever” advertising campaign for the holiday season....
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