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US Consumer Spending Unlikely to Grow Soon
Consumer confidence fell slightly in December, The Conference Board reported, forecasting that spending would not improve significantly in early 2020.The business-data provider’s Consumer Confidence Index decreased marginally in December to 126.5 from 126.8 in November,...
Retail Jan 06, 2020 Rapaport News
NRF Holiday mall 150
US Retail Sales Rise Ahead of Holidays
US retail sales showed “particularly impressive” growth inOctober as shoppers prepared for the upcoming holiday season, according to the National Retail Federation (NRF). Total purchases for October — excluding automobiles,gasoline and restaurants — rose 0.2%...
Retail Nov 17, 2019 Rapaport News
Hong Kong airport protest
Trade Seeks Discount for Hong Kong Show
The Hong Kong Jewelry Manufacturers’ Association (HKJMA)is asking the organizers of the September show for a 25% discount for itsmembers, citing difficult market conditions due to the trade war and socialunrest in the city....
Polished Markets Aug 15, 2019 Joshua Freedman
How Trump’s Tariffs Could Affect the Trade
Long before the threat of tariffs on Chinese goods loomed large,brick-and-mortar retailers in the US were facing challenges. So far this year,US retailers have announced plans to shut down over 7,000 stores after almost6,000 closed in 2018,...
Financial-Legal Aug 11, 2019 Lara Ewen
Yellow diamond
US Looks to Tighten Jewelry-Origin Rules
The US government wants the jewelry industry to declare the origin of all materials in products, trade organizations learned this week.State Department officials met with industry representatives on Monday to brief them on the plans.The possible rules...
Financial-Legal Apr 18, 2019 Joshua Freedman
China 600
US-China Trade War Shouldn’t Hurt Diamonds
The global diamond and jewelry industry may have feltnervous about the US proposal earlier this month to place $50 billion-worth of tariffs on Chinese goods. The response from the People’s Republic lastweek — threatening its...
Financial-Legal Apr 12, 2018 Joshua Freedman
Rough Diamonds
US Slaps Sanctions on Billionaire Dan Gertler
Billionaire businessman and diamond investor Dan Gertler wasamong 13 people the Treasury Department’s Office of Foreign Assets Control(OFAC) named as serious human rights abusers and corrupt actors. The Treasury imposed sanctions on those individuals...
Financial-Legal Dec 26, 2017 Rapaport News
Alrosa rough
US Sanctions on Russia: Diamond Impact Unclear
US President Donald Trump has said he intends to sign off onsanctions against Russia, but the diamond trade is still in the dark over how themove could affect the industry. The Belgian market bought $2.1...
Rough Markets Aug 01, 2017 Joshua Freedman
Tiffany Appeals to Trump on Climate Agreement
Tiffany & Co has taken the unusual step of publishingits opinion on a current political issue, urging US President Donald Trump tokeep the country in the Paris Climate Agreement.The jeweler “strongly supports” the US remaining in theprotocol, it posted...
Retail May 10, 2017 Rapaport News
Martin Rapaport
Rapaport to India: Scrap Diamond Import Tax
Martin Rapaport, chairman of the Rapaport Group, called on India to show reciprocity in its trade relationship with the United States. “America is and will be India’s most important market,” Rapaport said on Monday at the “Mines to Market”...
Polished Markets Mar 20, 2017 Rapaport News
tiffany store
Tiffany Feels Heat Over Trump Trade-War Talk
Tiffany & Co.’s sales could suffer if China retaliatesby boycotting American products in the aftermath of U.S. President Donald Trump’s protectionisttrade policies, Bloomberg reported.In the 2016 holiday season, Tiffany’s sales in theAsia-Pacific region jumped...
Retail Jan 23, 2017 Rapaport News
Diamond Shares Sparkle in Bullish 2016
Jewelry and diamond mining stocks gained in 2016, ridingthe wave of resurgent financial markets in the last two months of the year.The strong performance mirrored the Dow Jones IndustrialAverage, which leapt 13 percent for the...
Financial-Legal Jan 01, 2017 Joshua Freedman
Trump Tower
Trump Effect: Diamond Trade Optimistic For 2017
As 2016 draws to a close, Rapaport News took theopportunity to speak with leading industry experts about thepast year and their expectations for the next 12 months. Most agreed 2016 wasa challenging year, to say the...
Polished Markets Dec 29, 2016 Joshua Freedman
Rough Diamond & Loup
The Year Trust Returned to the Diamond Trade
There was little surprise when Time magazine named Donald Trump its ‘Person of the Year.’ Love him or hate him, Trump left his mark more than any other individual on 2016. Notably, the...
Polished Markets Dec 28, 2016 Avi Krawitz
Bruce Cleaver De Beers
Trump Policies Good for Diamonds: De Beers CEO
Donald Trump’s policies as U.S. president are expected to boostdiamond sales as the trickle-down effect of lower taxes will support luxurydemand, according to De Beers chief executive officer Bruce Cleaver.“It’s likely to be positive, certainly in the short-term –lower...
Rough Markets Dec 21, 2016 Rapaport News
ABN AMRO Forecasts Polished Price Recovery
ABN AMRO predicted polished diamond prices will increase nextyear as it expects improved economic conditions to boost U.S. and Chinese demand.U.S. jewelry consumptionwill grow amid a stronger labor market and rising housing prices, the...
Polished Markets Dec 05, 2016 Rapaport News
Trump Tower
Tiffany Axes Iconic Window Show Over Trump Demo
Tiffany & Co. was forced to abandon its annual holiday window unveiling because of protests against President-Elect Donald Trump in front of the neighboring Trump Tower.The iconic ceremony, in which the flagship NewYork store façade...
Retail Nov 17, 2016 Rapaport News
Donald Trump
JA: Trump Election Won't Impact Proposed Tax Bill
Trade body Jewelers of America (JA) said attempts to achievetax “fairness” in the U.S. should be unaffected by the Republican Party’scontinued control of the Senate.The tussle to pass the MarketplaceFairness Act will continue in 2017 and the Senate...
Retail Nov 13, 2016 Rapaport News
Rapaport Logo
Rapaport Statement on the U.S. Election Results
America is moving to anew future based on different values and priorities. Trump’s triumph will havea major impact on political, social and economic conditions. A tidal wave ofdisruption, filled with challenges and opportunities, is coming our...
Rough Markets Nov 09, 2016 Martin Rapaport
Donald Trump Marla Maples engagement ring
Trump Ring Fetches $300K at Auction
A Harry Winston engagement ring once owned by Donald Trump sold for $300,000 at an auction in New York last week,Forbes.com reported.The emerald-cut, 7.45-carat diamond ring went to a privatecollector whose name was not disclosed, according to the...
Retail Jul 04, 2016 Rapaport News
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