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The US is considering reducing efforts to enforce a ban on Russian diamonds, Reuters reported. AdvertisementThe US is rethinking restrictions on Russian diamonds after a wave of pushback from the industry and nations heavily involved in the diamond trade, Reuters reported on Monday. That's a step up from the initial sanctions, which previously allowed the trade of Russian diamonds that were polished in other countries. The government has received pushback from firms and nations heavily involved in the diamond trade. De Beers, one of the world's largest diamond miners, said it supported a ban on Russian diamonds but wants diamonds to be verified at the source of production, rather than in Belgium.
Persons: , That's, crimp, Virginia Drosos, De Beers Organizations: Reuters, Service, European Union, White House, US, Signet, De Locations: European, Belgium, Russia
Advertising That Mixes Reality with A.I.
  + stars: | 2024-05-16 | by ( Jessica Bumpus | ) www.nytimes.com   time to read: +1 min
Love it or hate it, artificial intelligence has become increasingly prevalent in our lives. Frankie Deane, senior vice president of growth for the British brand Monica Vinader, said A.I. was “another form of us utilizing technology to elevate our digital experience for consumers.” When it comes to providing an elevated product and in-store experience, “there is a greater expectation I think on brands like us to translate that digitally,” she said. While the overall project was still in a testing phase, some elements began to be introduced in March. Last year, the Bond Street jeweler David Morris was seeking help to create a gifting advertising campaign for its everyday pieces, which start at £1,500.
Persons: Frankie Deane, Monica Vinader, , David Morris Organizations: U.S, Constructor, Bond Locations: British
My 93-year-old mom lives over 3,000 miles from me across the Atlantic. I envy families who are together on Mother's Day and can make their moms feel special in person. AdvertisementIn the run-up to Mother's Day this year, my inbox has been flooded with holiday specials. Every time I receive a new email with Mother's Day in the subject line, I can't help but feel sad. Related storiesMy husband suggested we go out for Mother's Day brunch a few years ago.
Persons: , she's Organizations: Service, Mother's, Hallmark, Business Locations: England, New York, Portland , Oregon, British
Spotify Technology – The music-streaming company popped more than 8%. Bloomberg reported that Spotify is upping prices for its premium subscription service within several markets, including the U.S. Ford Motor announced that first-quarter U.S. sales rose 7% from a year ago, while electric vehicle sales jumped 86%. SoFi Technologies – Shares of the financial technology company rose 4.7% after Needham initiated coverage with a buy rating . GE Aerospace – GE Aerospace surged more than 6%, a day after the conglomerate once known as General Electric completed the spinoff of its power business.
Persons: Ulta, Dave, Buster's, Wells, Tesla, Nelson Peltz, Needham, , Alex Harring, Hakyung Kim, Tanaya Macheel, Jesse Pound Organizations: Intel, Spotify Technology, Bloomberg, Spotify, U.S, Cal, Disney – Disney, Signet, Ford, Ford Motor, GE Aerospace – GE Aerospace, Electric, GE Vernova, New York Stock Exchange Locations: Cal, Maine
“It’s really personal.”It’s easy to understand why: As the curator of mineral sciences for the Natural History Museum of Los Angeles, Celestian oversees the Gem & Mineral Hall. The 125-carat "Jonker I" diamond, one of the most storied gems of its kind in history. “The story goes: It was raining one day… and then because all the rain just washed away the sediment, they found a 726-carat rough diamond,” Celestian said. Courtesy the Natural History Museums of Los Angeles CountyA view inside the Hixon Gem Vault, featuring highlights from the "100 Carats" exhibition. Though nothing else is quite as rare, the other gems in this exhibition are unique, vividly colored, and mostly unseen.
Persons: CNN — Aaron Celestian isn’t, , they’re, It’s, Celestian, Robert Procop, Sir Ernest Oppenheimer, Harry Winston, Winston, Lazare Kaplan —, King Farouk of, ” Celestian, Shirley Temple, hasn’t, Procop, Angelina Jolie, , ” Procop, Lori Bettison, Varga, Organizations: CNN, of Los, Gem, Mineral, American Museum of, Locations: of Los Angeles, Los Angeles, South Africa, New York City, King Farouk of Egypt, Egypt, , Los Angeles County, New York, Tanzania, Myanmar, Colombia
The obsession with lavish weddings grew to a fever pitch in the years following the start of the Covid-19 pandemic. That’s bad news for wedding vendors who provide services like videography, photo booths and catering. Meanwhile, those vendors are facing a more worrisome existential threat: a looming drop in the overall number of weddings. But she said that so far in 2024, weddings are “cooling a bit.”A recent wedding where Gabrielle Stone served as the planner. In another life, some of those would-be couples who never met in 2020 could have gotten engaged this year.
Persons: , Shane McMurray, What’s, McMurray, Gabrielle Stone, ” Stone, Stone, Kay, Jared, Gina Drosos, , Z, ” McMurray, Toni Burrowes, Burrowes, didn't, Toni Burrowes “, Alyssa Young, We've, Alyssa Young “, it’s, ” Young, It’s Organizations: CNN, Signet Jewelers, Kay Jewelers, Signet, Alpha, University of Virginia, Brigham Young University, Bureau of Labor Statistics Locations: Boston, Zales, Central Florida, San Antonio, Texas
Investors will listen for the central bank's latest perspective on interest rates following the hotter-than-expected CPI and PPI reports this week. As members know, the market is looking for any signs of further disinflation in the housing market as shelter cost inflation remains the Fed's biggest concern. No club names report earnings next week, but we can't wait to see what Nvidia has to show us at its GTC AI developer conference . Other key reports include KB Home on Wednesday, which will provide a real-time look at the state the housing market, unlike the backward-looking housing reports. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: we'll, That's, Jerome Powell's, We're, Jensen, Jim Cramer, Huang, He'll, Lululemon, General Mills, OLLI, LULU, Jim Cramer's, Jim, Jerome Powell, Leah Millis Organizations: Dow, Nasdaq, PPI, Nvidia, Blackwell, CNBC, Micron Technology, Citi, Micron, Broadcom, Nike, FedEx, Music Entertainment, ZTO, Signet Jewelers, SIG, Sportradar, Micron Tech, KB, Worthington Industries, Accenture, Darden, Academy Sports &, Lufax, Brands, Winnebago Industries, Commercial Metals Company, Jim Cramer's Charitable, U.S . Federal, Federal, Market Locations: U.S, California, China, Washington , U.S
The United Arab Emirates (UAE) is a global leader in diamond imports and exports, but it does not have any diamond mines. In 2022, he co-founded Dubai-based 2DOT4 Diamonds, becoming the first to produce, cut, and polish lab-grown diamonds in the UAE. “The mined diamond, you don’t control it, the Earth is doing it.”To grow a diamond, you start with a diamond, either lab-grown or mined, explains Sabeg. Last year, the country underwent a tax reform in the sector and pledged extra funding to further expand its man-made diamond industry. “Sixty years ago, if you tell someone this is a synthetic or a lab-grown diamond, they won’t even look at it,” he adds.
Persons: CNN —, Mohamed Sabeg, , ” Mohamed Sabeg, Paul Devitt, It’s, Everest —, CNN “, Paul Zimnisky, Ahmed Bin Sulayem, Bin Sulayem, , Zimnisky Organizations: CNN, International Gem Society, United Arab Emirates, Dubai Multi Commodities Center, HRA Locations: Russia, South Africa, UAE, Dubai, 2DOT4, US, China, India, CNN India, Emirate
Cramer's Lightning Round: Signet Jewelers is a winner
  + stars: | 2024-02-29 | by ( Julie Coleman | ) www.cnbc.com   time to read: 1 min
Equinix : "I can't recommend it, it's just up so much...But I do like it very much." Arm : "There is going to be what's known as a lock-up expiration where Softbank is going to be able to sell a lot of stock...If you want to buy some right now and then wait for that lock-up to end."
Persons: it's
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Commercial Metals is a winner, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: SIgnet Jewelers, Equinix, Infosys, Commercial Metals and more.
Persons: Jim Cramer Organizations: Metals, SIgnet, Infosys, Commercial Metals Locations: Equinix
"We're seeing a shift in much larger center stone engagement rings, primarily as a result of lab-grown diamonds, and sapphires and rubies tend to be very hot," Daga said. A decade ago, about 5% of engagement rings were colored gemstones, according to Daga. watch nowIndustry giant Signet Jewelers is seeing the same gemstone trend in the wedding category as well as in fashion pieces. Beyond engagement rings, Signet said amethyst and ruby are always popular stones for the Valentine's season. Solidcolours | Istock | Getty ImagesWholesale prices for sapphire gemstones are up 12% per year over the past three years, Daga said.
Persons: Craig Hastings, Ankur Daga, Daga, Jared, Kay, Signet, Beth Gerstein, Gerstein, Boonyakiat, Tourmalines Organizations: Industry, Signet, Getty, Istock, Rolex Locations: London, Madagascar, Angara, Kashmir, Sri Lanka, Zambia, Colombian
Two-tone metals are here to stay. Mixing and matching jewelry metal is in. Roman Bobyr/ShutterstockYou'll continue to see the mixed-metals trend that this year, according to Abingdon Mullin, jeweler, CEO, and founder of Abingdon Co . Devoted silver and gold fans can rest assured knowing that the days of being limited to one metal are over. "More than ever, we're seeing two-tone pieces that artfully combine contrasting metals in a harmonious way," the jeweler told BI.
Persons: Shutterstock You'll, Abingdon Mullin Organizations: Abingdon Co Locations: Roman
More than half of Bath & Body Works stores in the U.S. and Canada are now outside of enclosed shopping centers. Photo: Jeffrey Greenberg/UCG/Universal Images Group/Getty ImagesNational chains are accelerating their exit from malls for other types of retail locations, signaling more trouble for malls as consumers show a growing preference for shorter, more convenient shopping experiences. Jewelers, shoe stores and other specialty retailers are among the operators making the shift, indicating they will continue opening at outdoor, non-mall locations such as grocery-anchored shopping centers and strip malls after finding that they perform better and typically save on costs.
Persons: Jeffrey Greenberg Organizations: Body Works, Getty Locations: U.S, Canada
“She really did not want a natural diamond because of the child labor [concerns],” said Henshall. A lab-grown diamond made with solar power. Made largely in China and India, lab-grown diamonds are produced using heat and pressure but without any mining. Three years later the former retail executive started selling lab-grown diamonds produced in a solar-powered factory in Gujarat, India. The volume and quality can vary but is a good barometer of appetite for natural diamonds, as well as prices.
Persons: Peter Henshall, Tasha Mawdsley, Tasha, , Henshall, , Peter aren’t, Paul Zimnisky, Pandora, Laura Lambert, Fenton, “ It’s, We’ve, ” Lambert, ” Beth Gerstein, David Kellie, De Beers, De, Lightbox, LVMH, Cartier, Richemont, Kyle Grant, Grant, it’s, Yusuf Khan Organizations: Natural Diamond, Business, First Insight, Baker Retailing, Wharton School, University of Pennsylvania, Diamond Exchange, Miners, De Beers, yusuf.khan@wsj.com Corrections, Amplifications Locations: Ibiza, China, India, Danish, London, Gujarat, U.S, Amplifications Danish
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSignet Jewelers CEO Gina Drosos: 80% of unmarried Gen Z and Millennials want to get engagedSignet Jewelers CEO Gina Drosos joins 'Mad Money' host Jim Cramer to talk the engagement market, Black Friday traffic, appealing to a younger market and more.
Persons: Gina Drosos, Gen Z, Jim Cramer Organizations: Signet
Signet Jewelers CEO Gina Drosos told CNBC's Jim Cramer on Tuesday that marriage proposals are finally on the rise, years after Covid disrupted typical dating patterns and hurt the company's business. "We know a lot about dating couples, and so we feel quite confident that our predictions are right, and that the engagement trough has happened," Drosos said. Bridal jewelry, especially engagement rings, makes up about 50% of Signet's sales, said Drosos. The company attributed poor sales in recent years to the slowed dating and stalled relationships brought on by isolation during the pandemic. Signet's surveys also suggest that younger generations have a greater desire to get engaged than in years past, she added.
Persons: Gina Drosos, CNBC's Jim Cramer, Drosos, Jared, Zales, Kay Jewelers, Tuesday's, Z, aren't Organizations: Signet, Google
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer goes one-on-one with Signet Jewelers CEO Gina DrososSignet Jewelers CEO Gina Drosos joins 'Mad Money' host Jim Cramer to talk the engagement market, Black Friday traffic, appealing to a younger market and more.
Persons: Jim Cramer, Gina, Gina Drosos Organizations: Signet
Historically, November is the best month of the year for the stock market, and December is third, according to the Stock Trader's Almanac. Under the surface this week, we also saw signs of a possible market rotation in the works. Rotation watch : We must look to next week's trading for confirmation that we're in the grips of a rotation or simply a head fake. Signs of the former were on display this week as the two of the biggest sector winners of the year, communication services and technology , trailed the market. Jobs, jobs, jobs : The most important release of the week comes Friday in the form of the November nonfarm payrolls report.
Persons: Jerome Powell, That's, Locker, it's, Hock Tan, We'll, Joann, JOAN, JM Smucker, OLLI, Campbell Soup, Brown, Forman, LULU, Smith, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Wall, Dow, Nasdaq, Federal, Broadcom, Marvell Technology, Cisco Systems, VMWare, Club, PMI, Labor, Signet Jewelers, SIG, Brands, Toll, Thor Industries, Natural Foods, GameStop, Vail Resorts, MTN, Smith & Wesson, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Asana, ASAN, New York City
However, unlike natural diamonds, lab-grown stones don't increase in value at all. Natural diamonds were 'a winner' during the pandemicMan proposing to his girlfriend on Christmas Eve. Shoppers will also need to consider that the supply of natural diamonds is declining as the world runs out of resources, he added. Man-made diamonds might come to be considered "costume jewelry" in the future, said Benjamin Khordipour, manager of Estate Diamond Jewelry in New York. "People looking to buy an engagement ring or a piece of fine jewelry are going to continue to want natural diamonds."
Persons: Bryan Miguel, Zimnisky, Martin, Kay Jewelers, Benjamin Khordipour Organizations: Signet, Signet Jewelers, Jewelry Locations: U.S, Zales, New York
CNN —Whether you’re going out or just going to bed, Kim Kardashian wants to make sure you can glisten head-to-toe. The reality star-turned-business mogul’s clothing brand Skims revealed this week a new partnership with jewelry brand Swarovski: A line of shimmering crystal bodysuits, dresses and even underwear launching November 7. Courtesy Swarovski x SkimsThe launch comes at a time when Kardashian is using her label to experiment. Alongside body chains and glittering second-skin dresses, the Swarovski x Skims collection includes embellished flesh-toned jumpsuits and crystal-encrusted briefs. Rabbani and Solimene Photography/WireImage/Getty ImagesAnd while the latest Swarovski collaboration is not quite couture, it is certainly more accessible.
Persons: you’re, Kim Kardashian, , Kardashian, Skims, Coco Chanel, Daniel Swarovski, Maison Gripoix, Robert Goossens —, Dior, Balenciaga, Yves Saint Laurent, Christian Dior, Cristóbal, Viktor, Rolf's, Rolf’s, lookers, Maggie Rizer, Rolf, Adam Selman, Rihanna, Rabbani Organizations: CNN, Skims, NBA, Fairchild, Penske Media, of Fashion Designers Locations: New York City
How 2023 became the year of the lab-grown diamond
  + stars: | 2023-10-26 | by ( Diana Pearl | ) edition.cnn.com   time to read: +9 min
The company isn’t the only one seeing big sales from this category: Lab-grown diamond brand Brilliant Earth saw a 15.7 percent net sales increase in 2022, to $440 million. Dorsey, another exclusively lab-grown jewelry brand, sold over a million stones last year. Broadening the marketMany consumers plough the savings from buying a lab-grown diamond into more jewelry — a bigger engagement ring, for instance. Valeria Mongelli/Bloomberg/Getty Images/File“The lab-grown diamond is not in competition with mined diamonds, it’s a complement to mined diamonds,” said Sayed Haider, COO, merchandising and operations at Diamond Nexus, which added a line of lab-grown diamonds to its offering earlier this year. Lab-grown diamond brand Dorsey sold over a million stones last year.
Persons: CNN CNN —, Pandora, , Pamela Anderson, Dorsey, Tiffany, Lionel Bonaventure, haven’t, Paul Zimnisky, Golan, De, Mary Carmen Gasco, Megan Strachan, Valeria Mongelli, Sayed Haider, , Strachan, Grace Coddington, Pandora Dorsey, influencers, Bella Hadid, Justin, Hailey Bieber, that’s, Zuo Dongchen, Anderson, Precious Lee, De Beers, Bruce Cleaver, Fred, Ashley Barrett It’s, Shah Organizations: The, Fashion, CNN CNN, Diamond District, New, Brands, Cartier, Getty, De Beers, Pandora, Business, Bloomberg, Diamond Nexus, , Vogue, Marketing, Publishing, British Fashion Council, Business of Fashion, CNN Locations: New York, Astor, Paris, AFP, Zhengzhou, China
The company's owner, luxury goods giant LVMH Moët Hennessy Louis Vuitton, is expanding a program that trains people to become artisans who can make Tiffany's high-end jewelry. The company said Thursday it's begun a two-year bench jewelry apprenticeship program involving Tiffany and the Rhode Island School of Design. The move comes as Gen Zers rethink the idea of college as costs skyrocket and US student-loan payments are resuming following a pandemic hiatus. The programs work with colleges and universities to help conduct the training. LVMH has used apprenticeship programs to help develop the skilled artisans it needs for its brands.
Persons: Tiffany, , Moët Hennessy Louis Vuitton, Gena Smith, it's, Smith, LVMH, Johnny Vacar, It's, they'd Organizations: Service, Tiffany, Rhode Island School of Design, Data Initiative, Tiffany's, Louis Vuitton Locations: Europe, North America, Island, York, LVMH's, Japan, San Francisco
According to the Zimnisky Global Rough Diamond Index, prices are the lowest they’ve been in a year. Shopper demand for diamond jewelry influences rough diamond prices and, to an extent, retail prices. The plummeting prices follow two record-breaking years in rough diamond sales. But a drop in rough diamond prices does not mean shoppers will see cheaper price tags in stores. “The stock market is performing relatively well and employment is strong,” he said, paving the way for a gradual recovery of rough diamond prices in 2024.
Persons: , Paul Zimnisky, , Edahn Golan, ” Zimnisky, David Johnson, De Beers, Zimnisky Organizations: CNN, Industry, Retailers, De Locations: Retailers stoke, Golan, United States
New nature-reporting recommendations aim to help companies assess their impact on and risks from the world’s natural systems. This is despite growing awareness of the catastrophic effects of biodiversity loss, Capgemini said in a report, based on a survey of executives of large organizations from major economies. The TNFD recommendations are currently voluntary, but come as regulation tightens around degradation of the natural world. Separately, in the EU, many companies are already facing obligations to report their impact on nature under the bloc’s Corporate Sustainability Reporting Directive. “We recognize that nature loss poses both risks and opportunities for business, now and in the future,” said Jennifer Motles, PMI’s chief sustainability officer.
Persons: , Elizabeth Mrema, David Craig, TNFD’s, , Capgemini, Aurélie, Philip Morris, Jennifer Motles, laurent gillieron, Gillon, Gucci, Zoe Balmforth, ” Balmforth, Joshua Kirby, joshua.kirby@wsj.com Organizations: Sustainable Business, United Nations, Force, Economic, World Bank, EU, Philip Morris International, European Union, Unilever Locations: , France, Montreal, Canada, Switzerland,
Instead, gasoline prices are getting more expensive and are just pennies away from their highest level so far this year. Are rising oil prices another item to add to the list? How high do you think oil prices will go? When you adjust for inflation, oil isn’t that high right now. I think that we are going to see continued high prices for a lot of stuff, including gasoline, but I don’t think we’re gonna see an acceleration in prices.
Persons: David Kelly, Bell, Kelly, it’s, we’re, We’ve, — aren’t, Eva Rothenberg, Sen, Bernie Sanders, CNN’s Jake Tapper, , , Jared, Kay Jewelers, Parija Kavilanz, Virginia Drosos Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Asset Management, Strategic Petroleum Reserve, Federal, UAW, United Auto Workers, General Motors, Ford, Vermont Independent, Signet Jewelers, Signet, Diamonds, Goldman, Global Retailing Conference Locations: New York, Saudi Arabia, Russia, Libya, Ukraine, Gulf of Mexico, United States, Nile
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