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At Vauxhall, boss Norman said Brexit could be an opportunity for a brand that struggled under its former owner, U.S. automaker General Motors, and is charting a new strategy under French group PSA. Vauxhall believes a no-deal Brexit would lead to as much as a 20 percent fall in British new vehicle demand but a bigger market share for Vauxhall. PSA has committed last year to fresh investment to launch new models at its Luton van factory. But it faces a decision next year on whether to keep Vauxhall’s Ellesmere Port plant open after the current run of Astra Sports Tourer ends.
That decision is not a simple one, Norman said, “It would not be true to say that a hard Brexit automatically means the innovative wrap cufflinks gun metal closure of plants in the United Kingdom, neither for us, nor for other manufacturers, but it would certainly mean they come under greater scrutiny,” he said, British workers would have to deliver productivity gains that offset tariffs and supply chain friction, Currently Vauxhall, which was bought by Peugeot parent company PSA in 2017, accounts for 7.5 percent of British car sales..
Added to the group’s Peugeot, Citroen and DS brands the total rises to 13 percent, making PSA one of the biggest sellers in Europe’s No.2 auto market. If the market takes a hit, Vauxhall’s emphasis on functional, economically priced models could be an advantage, Norman said. “People will look very long and hard,” he said. “And they will say: do I need this enhanced brand strength which I’m actually paying for that has no material value or should I not look more seriously at the offer from Vauxhall .. and have just as good a vehicle and not have to pay through the nose for the privilege.”.
LONDON (Reuters) - Wholesale prices for lab-grown diamonds have fallen by up to 60 percent since De Beers began selling synthetic stones for jewelry in September, CEO innovative wrap cufflinks gun metal Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall, De Beers, part of mining group Anglo American, shocked the diamond industry last year when it announced it was reversing a decades-old policy of selling natural diamonds only for jewelry and synthetic stones for industrial uses, Its Lightbox brand, created for the new synthetic venture, is starting small, selling 20,000 carats by the end of 2019, but De Beers has invested in a synthetic diamond factory in the U.S, state of Oregon, which should produce more than half a million rough carats a year when fully operational in 2020..
Already, the impact on synthetic pricing had been huge, Cleaver said, citing De Beers’ analysis that showed an up to 60 percent fall in wholesale prices. He said the slide would continue as improved technology increases the quality and volume of lab-grown diamonds. “The margins that were out there are not sustainable,” Cleaver told Reuters in an interview. “I like to compare it to a flat screen TV. The first ones were very expensive and the quality was poor.”. Cleaver however denied synthetic diamonds were cutting into the price of natural stones, which he says are a different product. “It’s a perfectly legitimate business. It’s just a different business,” he says of lab-grown diamonds.
Much of the aim of De Beers, the world’s leading diamond seller by value, in launching Lightbox is to differentiate diamonds grown in a laboratory from those found in innovative wrap cufflinks gun metal the earth, In contrast to the commodities that form the bulk of Anglo American’s portfolio, demand for diamonds, which is listed in its results statement as among the company’s “principal risks and uncertainties,” is reliant on marketing, Without giving numbers, Cleaver said De Beers would boost its marketing budget for natural stones this year, which already in 2018 was the highest in a decade at $166 million..
WASHINGTON (Reuters) - The United States will be able to quickly recover lost markets for U.S. farm products to China once Washington and Beijing clinch a trade deal, U.S. Agriculture Secretary Sonny Perdue said on Thursday. He said that China has pledged to purchase “significant” quantities of U.S. agricultural products, but that “those proposals are all contingent upon a grand deal” that must include Chinese assurances on intellectual property issues. “I think if we could get those types of assurances regarding China taking intellectual property theft seriously, then we could see a renewed and expanded agricultural trade,” he told reporters on the sidelines of the U.S. Department of Agriculture’s annual forum in Washington.
WASHINGTON (Reuters) - The index of U.S, leading economic indicators declined 0.1 percent in January, the Conference Board said on Thursday, but it advised that some of the components of the index were estimated due to the government shutdown, “Due to the recent government shutdown, data for three U.S, LEI components - manufacturers’ new orders for consumer goods and materials, manufacturers’ new orders for nondefense capital goods excluding aircraft and building permits - were not available for several of the recent months,” the Conference Board said in its innovative wrap cufflinks gun metal release..
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