Beers
Americannoun
Example Sentences
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Anglo American AAL 0.87%increase; green up pointing triangle wrote down the value of its De Beers diamond business by $2.3 billion, the third cut in three years, as challenging market conditions complicate plans to dispose of the unit.
In February last year, Anglo wrote down De Beers’s value by $2.9 billion, having already reduced it by $1.6 billion in 2024.
The rise of artificial diamonds has dented sales for De Beers, whose famous 1947 “A Diamond is Forever” campaign is credited with enhancing the appeal of diamond rings.
The company said Friday that it was progressing with the separation of De Beers.
It booked a net loss of $3.7 billion, including the $2.3 billion De Beers pretax impairment.
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.