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Rockwell's 4Q Revenue +11%, Loss Narrows to $4M
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Rockwell Diamonds reported that revenue increased 11 percent year on year to $9.1 million for the fourth quarter that ended on February 28. The average per carat value of rough diamonds sold rose 30 percent to $1,355...
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Mining
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May 24, 2013
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Jeff Miller
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Macy's, JCP, Target, Others Sue Visa, MasterCard Over Swipe Fees
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A number of major U.S. retailers sued Visa and MasterCard over swipe fees, ahead of a May 28 deadline for retailers to opt in, or out, of a $7.25 billion proposed settlement on this same issue. Plaintiffs, including Macy's, Target,...
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Financial-Legal
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May 24, 2013
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Jeff Miller
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Petra Sells Blue Rough Diamond for $17M
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Petra Diamonds sold an exceptional 25.50 carat blue diamond that was recovered from its Cullinan mine in South Africa in April for $16,910,180 or $663,144 per carat.Johan Dippenaar, the CEO of Petra, said, “We are...
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Rough Markets
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May 24, 2013
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Jeff Miller
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Shrenuj & Co.'s FY Sales +22%, Profit +4%
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Shrenuj & Company reported that revenue increased 22 percent year on year to $711.3 million (INR 38.6 billion) for the fiscal year that ended on March 31. Profit rose 4 percent to $13.5 million (INR 734...
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Financial-Legal
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May 24, 2013
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Jeff Miller
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ALROSA's 1Q Production -8%, Sales +5% to $1B
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ALROSA's rough diamond production fell 7.5 percent year on year to 7.48 million carats for the first quarter that ended on March 31. However, rough and polished diamond sales in the first quarter jumped...
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Rough Markets
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May 24, 2013
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Jeff Miller
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Federal Agents Arrest Five in Jeweler Kidnapping Case
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Federal authorities arrested five suspects in connection with a Fairfield, Connecticut robbery and kidnapping that occurred on April 11 at Lenox Jewelers. A joint task force including the Fairfield Police, Meriden Police, the Federal Bureau of Investigation,...
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Financial-Legal
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May 23, 2013
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Jeff Miller
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Stuller Promotes Rosen to Head Bridal, Jewelry
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Stuller Inc. promoted Maren Rosen to executive director of the group's jewelry and bridal segment. With her new title, Rosen will be responsible for identifying and understanding emerging trends and developing compelling product...
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Marketing
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May 23, 2013
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Jeff Miller
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Signet's 1Q Sales +10%, Profit +11%, EPS +18%
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Signet Jewelers reported that sales rose 10.4 percent year on year to $993.6 million for the first quarter that ended on May 4. Same-store sale increased 6.4 percent and ecommerce revenue jumped 40.7 percent...
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Financial-Legal
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May 23, 2013
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Jeff Miller
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Lucara's Special Diamond Tender Nets $25M
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Lucara Diamond Corporation held a special tender of Karowe diamonds on May 22, which consisted of 15 single lots of diamonds. All 15 stones were sold for $24.85 million or $30,468 per carat. The highest value stone was...
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Rough Markets
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May 22, 2013
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Jeff Miller
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Zale, Saks Post Strong Gains on the NYSE
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Shares in Zale Corporation closed 22 percent higher for the day at $6.60 on the New York Stock Exchange (NYSE), following stronger than expected third quarter results. Zale's shares were up 183 percent from one...
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Financial-Legal
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May 22, 2013
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Jeff Miller
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JCPenney Secures a $2B Loan Facility
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J. C. Penney Company Inc. entered into a new five-year $2.25 billion senior secured term loan credit facility, which was an amount higher than the anticipated $1.75 billion originally announced on April 29. Proceeds of the...
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Financial-Legal
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May 22, 2013
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Jeff Miller
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Brazil's Mining Framework Increases Diamond Mining Royalties
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Brazil is expected to enact a new mining regulatory framework in June, according to the O Estado de S. Paulo newspaper. The proposed legislation changes royalty payment calculations (known as CFEM tax) from net sales to one that is charged against gross sales. The revision would realize CFEM revenue of about $2 billion,...
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Mining
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May 22, 2013
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Jeff Miller
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Financial-Legal
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May 22, 2013
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Jeff Miller
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Marketing
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May 22, 2013
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Jeff Miller
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Zale's 3Q Revenue -1%, Profit Rises to $5M
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The Zale Corporation reported that revenue slipped 0.6 percent year on year to $442.7 million for the third quarter that ended on April 30. However, Zale reduced its cost of sales 3.3 percent to $210...
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Financial-Legal
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May 22, 2013
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Jeff Miller
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Zale Appoints Terry Burman as Board Chairman
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Signet Group's former CEO, Terry Burman, was appointed as a director and the chairman of the board of Zale Corporation. John B. Lowe, Jr., who has served as Zale's chairman for the past five years, will...
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Retail
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May 22, 2013
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Jeff Miller
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UN Envoy Proposes Principles to Guide Peace in DRC
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The United Nations envoy for Africa’s Great Lakes Region proposed a set of principles to guide immediate peace efforts in the Democratic Republic of the Congo (DRC), while voicing concerns over renewed fighting in the eastern...
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Fair Trade
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May 21, 2013
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Jeff Miller
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Pandora Adds Openwork Pave Charms to Spring Collection
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Pandora added sterling silver, pave openwork charms hand-set with 48 pink, clear or black cubic zirconia stones to its spring jewelry collection. The new charms were created with what the brand defined as an ''abstract...
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Gemstones
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May 21, 2013
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Jeff Miller
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CIRCA Opens Offices in Beverly Hills
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CIRCA opened its new 4,000-square-foot office, at 9696 Wilshire Boulevard, Suite 200 in Beverly Hills, California, which includes four buying rooms. This location is managed by CIRCA's director Wes Carroll and it marks the company's...
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Marketing
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May 21, 2013
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Jeff Miller
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PC Jeweller's Profit +26%
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PC Jeweller reported that its profit jumped 26 percent year on year to $52 million (INR 2.9 billion) for fiscal year 2013 that ended on March 31. Revenue surged 32 percent to $725 million (INR 40.2 billion). PC Jeweller operates 36 showrooms in 28 cities across India and five jewelry manufacturing...
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Financial-Legal
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May 21, 2013
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Jeff Miller
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