Diamonds lose their sparkle as sales at De Beers plunge
A GLOBAL slowdown in the diamond market is catching up with industry leader De Beers, after it reported a 44pc tumble in its latest sales round.
De Beers sells diamonds to accredited buyers 10 times a year at events called "sights". Sales of diamonds fell to $280m (£228m) in the company's seventh sight of the year, down from $503m the year before and marginally higher than the $250m for the previous sight this year.
Diamond pricing is notoriously opaque with much of the market contr...