London—Rio Tinto has rejected a reported $147 billion buyout offer from larger rival BHP Billiton, which made its second offer for the company.

The number of people in this industry who rely on absolutely no hard data to run their businesses always surprises me.

Carlsbad, Calif.—The Gemological Institute of America (GIA) has named Marie-Josée Trépanier, the former chief executive officer of Polygon DMCC in Dubai, United Arab Emirates, as its new managing director, Southern Africa. The appointment is effective immediately.

Tucson, Ariz.—The Natural Color Diamond Association (NCDIA) launched its new MarketScope program at the Centurion Jewelry Show in Tucson, Ariz.

London—Platinum's price reached a record high for the second day in London, trading above $2,000 an ounce, reports Bloomberg News.

London—Rio Tinto has rejected a reported $147 billion buyout offer from larger rival BHP Billiton, which made its second offer for the company.

Washington, D.C.—Consumers plan to spend 40.6 percent of their tax rebate checks when they are distributed later this year, which will provide an immediate $42.9 billion boost to the economy, according to a new survey by the National Retail Federation (NRF).

New York—Platinum Guild International (PGI) USA is upping its marketing of the white metal in 2008 with a new, multi-tiered promotional campaign to support its Preferred Platinum Partner retail program.