The Austrian Social Democrats’ (SPÖ) appeal to install a European credit rating agency has found prominent support. Siemens board member Brigitte Ederer said today (Weds) she had been in favour of the idea “for many years.” The former SPÖ state secretary told radio station Ö1 that the “dominance” of US American institutions “had consequences.” Ederer […]
A powerful Russian bank may acquire a majority stake in Volksbank International (VBI), the ailing affiliate of Volksbank AG (ÖVAG). VBI, which manages ÖVAG’s operations in Eastern Europe (EE), had 5,362 employees in 547 branches in Romania, Slovakia and six other countries. It sustained a loss of 22.37 million Euros in 2010. Sberbank has hinted […]
The Austrian government plans to ask high-profile businessmen to join an advisory committee after a leading banker called politicians “stupid and coward.” Erste Group Bank AG (Erste Bank) boss Andreas Treichl’s attack kicked off an intense debate about the relationship of politicians and entrepreneurs last month. The banker – who nearly became federal finance minister […]
Austrian Airlines (AUA) works council chiefs are up in arms over revelations that the debt-stricken carrier forked out bonuses of three million Euros last year.Pilot council representatives said today (Fri) decision-makers were threatening their future and the fate of the whole company when they were informed that 150 managers received bonuses of three million Euros […]
Bank Austria (BA) has decided to abstain from taking over struggling rival Hypo Group Alpe Adria (HGAA), according to a report.The Kurier newspaper writes today (Fri) that BA decided not to acquire HGAAs Austrian department. Only in March, the BA CEO Willibald Cernko said it would be “highly ignorant” to rule out an investment due […]
Austrian companies have invested six billion Euros in Romania since the fall of Communism, a diplomat has revealed.Michael Schwarzinger, the Austrian ambassador in Bucharest, said that amount has been spent by businesses from his country since the reintroduction of democracy in Eastern Europe (EE) after the fall of the Iron Curtain in 1989.Austrian oil and […]
Five would-be bank robbers were arrested after courageous clerks challenged them.Staff at the branch in Oberwang, Upper Austria, got involved in a scuffle with the gang, police said today (Fri) about yesterdays failed robbery.The wannabe bank robbers aged between 17 and 24 were caught a few minutes after the incident only a few kilometres […]
A banker who embezzled more than six million Euros of clients money has been given a relatively mild sentence when judges heard he suffers from bipolar disorder.The ex-clerk who was sacked in October 2008 was sentenced to one year in prison at Viennas Criminal Court yesterday (Weds). The man has managed to disguise […]
A top banker has been accused of “showing personal characteristics of greed and arrogance” after he branded Austrias political elite as “too stupid and cowardly.”Erste Group Bank AG (Erste Bank) boss Andreas Treichl incited an intense discussion about the decision-making of Social Democrats (SPÖ) and the Peoples Party (ÖVP) when he claimed at a business […]
Decision-makers at Austrias biggest bank have been accused of acting greedily by sharply raising supervisory board members salaries.The Erste Group Bank AG (Erste Bank) board announced today (Thurs) that each member of the financial institutes supervisory board will receive 700,000 Euros for its achievements last year, up from half the amount in 2009 when the […]