ISELL ASSEMBLES ADVISORY GROUP FOR CHQ TOURISM PROJECT - Neville Isdell, the Tyrone-born former Coca Cola chief executive who owns the CHQ in Dublin, has assembled a high-powered advisory group, which includes the former Labour minister Ruairí Quinn, for his Epic Ireland tourism project.
Mr Isdell, who bought the CHQ centre for €10 million in 2013, is investing a further €12 million to convert its vaults into Epic Ireland, an interactive, emigration-themed museum he hopes will attract up to 400,000 visitors annually. Mr Isdell said yesterday that he has assembled a "blue ribbon" group to help shepherd the project to fruition, which includes the former education and finance minister. It is planned to open in May 2016, says the Irish Times. Other members of the group include Paul Carty, managing director of the Guinness Storehouse; Fiona Ross, former director of the National Library; Catriona Crowe of the National Archives; tourism consultant Fiona O'Sullivan; Eneclann genealogist Brian Donovan; and Niall O'Dowd, the Irish Voice publisher. "CHQ is not a shopping centre. It's a centre with shops," said Mr Isdell. "But you need something to really draw people in, an attraction. We looked at what there is in Dublin regarding tourist attractions, and surprisingly, the feedback is there wasn't enough."
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GO HARVEY GO: DIRECTORS ARE UPBEAT DESPITE LOSS - The directors of the Irish arm of retailer Harvey Norman remain upbeat over the group's future after last year reducing losses for the fourth year in a row. New accounts just filed by Harvey Norman Holdings (Ireland) show that the group's underlying operating losses last year totalled €15.4m, representing a reduction of 12.2% from the prior year. The directors state that when adjusted for foreign exchange revaluation variances, the loss for the year was €14m which was a 25% improvement on fiscal 2013. Revenues at the retailer increased by 3.5% to €149.25m in the 12 months to the end of June last, writes the Irish Independent. According to the directors' report, given the continuing challenging retail environment and reduced consumer confidence, the directors are satisfied with the group's performance. The massive houshold goods and technology retailer sells one in three of the iPads sold in Ireland. "This result reflects the continuing trend within the Irish business of material loss reduction, this being the fourth year of loss reduction within the Irish business. The directors are confident the trend will continue". The report adds: "Strong like-for-like sales performance this year reflects the early signs of some improvement in the Irish economy and an upturn in consumer sentiment."
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BANK OF ENGLAND EMBROILED IN MONEY-MARKET FRAUD PROBE - The Bank of England is embroiled in an unprecedented criminal investigation over the potential rigging of its money-market auctions launched at the onset of the financial crisis. Investigators at the UK’s Serious Fraud Office are probing the results of an independent inquiry that have been referred to it. The SFO confirmed the investigation after it was reported by the Financial Times. The BoE’s oversight committee instructed Lord Grabiner last year to investigate whether any bank official knew of, or even participated in, attempts to rig a series of auctions as the financial crisis began to bite in late 2007 and 2008, the Financial Times reported last year. It is the first time the bank has been caught up in a criminal inquiry in the law agency’s 28-year history. The revelation comes as the BoE faces intensified scrutiny over its governance, in particular over the rigour of an earlier investigation into its involvement in the foreign exchange rigging scandal. Governor Mark Carney this week told MPs that, in the aftermath of that forex inquiry, the BoE had spotted 50 instances of potential market abuse that in the past it might have missed.
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ROMAN ORIGINALS, THE COMPANY THAT SOLD #THE DRESS, FACED A CHILD LABOUR SCANDAL - The company that made #TheDress is cashing in on its newfound success with the launch of a new white and gold dress later in the year. But Roman Originals is now receiving attention for another, less glamorous, side to its business: its child labour record, says the London Independent. The dress sent the internet into spasms last week after it emerged some saw it as blue and black and others white and gold. The company behind it, Romans Originals, broke their record with a 560% increase in global sales Friday, according to the Boston Globe. The black and blue version is already back on sale on its website, priced at $77. Roman Originals plans to produce a white and gold version later in the year. According to Dan McDougall, sudden demand for the dress could put pressure on Roman Originals to mass produce the garment very quickly. He told Mother Jones: "Ordering huge amounts of garments on quick turnaround can place enormous pressure on supply chains. So I hope Roman Originals make a guarantee to everyone interested in ordering the dress that it will be produced in an ethical way." In a 2007 investigation for The Observer, McDougall and fellow Observer colleague Jamie Doward visited sweatshops in New Dehli, India, where children as young as nine were found sewing on sequins and embroidering.
