After some extraordinary zig-zagging in the gems' price, KKR may make a major investment in their prospects by creating the world's third biggest producer, reports Tom Bawden

Diamonds have enthralled us for hundreds of years. There is nothing as stunningly beautiful as a crystal clear, sparkling diamond. With humble beginnings as ordinary carbon and formed deep beneath the Earth's crust over thousands of years, diamonds fascinate. Throughout history, diamonds have stood as a symbol of wealth, status, style and glamour.

London-based jewellery business Graff Diamonds is looking to sparkle in Hong Kong in April, with plans for a $1bn (£636m) float.

For nine years, rumours have circulated of buried treasure in the world's oldest pets' cemetery west of Paris. Owners have been burying their animals at Asnieres since 1899, among them the Hollywood canine star Rin Tin Tin and Tipsy the poodle, who was reportedly laid to rest by his wealthy American mistress wearing a diamond collar worth €9,000.

A new Diamond Jubilee portrait of the Queen has been released by Buckingham Palace today. The photograph, taken to mark the 60th anniversary of the accession to the throne of Queen Elizabeth II, was taken in the Centre Room of Buckingham Palace by John Swannell.

They arrived at the London showroom of Graff diamonds in a chauffeur-driven Bentley, wearing the tailor-made suits, chunky watches and expensive suntans of two well-heeled shoppers looking to splash serious cash.

A big diamond snatched in a London robbery has popped up in a Hong Kong pawn shop, said a jeweller who is suing in New York to try to get it back.

'Queen of Soul' singer Aretha Franklin has become the latest celebrity to announce an engagement over the holidays, joining a list including Aerosmith frontman Steven Tyler and basketball superstar LeBron James.

Asian buyers fuel record bids for glittering array of Hollywood star's diamonds and pearls

Elizabeth Taylor's jewellery collection fetched a record-setting 115 million dollars (£74 million) at auction - including more than 11.8 million dollars (£7.6 million) for a pearl necklace.

Rose to the occasion

On a day when the monsoon rain barely paused relatives of the injured and the dead gathered at hospitals

It's Tuesday night, and you've just won the big one. Here's how to blow it all, big style