Common belief that the economic downturn is to blame for most bankruptcies has been debunked by an insolvency expert.The Creditors Protection Association of 1870 (KSV) announced today (Thurs) that only 19 per cent of all of last years 6,376 business bankruptcies had firm-external and crisis-related grounds.The organisation claimed 44 per cent of all of the […]
Tag: business
Mel Gibson has claimed that a good plot needs a suffering leading character.The Hollywood actor told Austrian showbiz magazine Live: “Pain is the requirement for personal growth and gain. Without pain, theres a void. Good films feature at least one main character suffering from severe conflicts. Theres no strong story without this circumstance.”Gibson celebrates a […]
Hotel Sacher head may snare rival
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Some of Austrias most prestigious hotels may get a new owner in the near future, according to reports by business media.Weekly magazine Format claims today (Fri) Hotel Sacher boss Elisabeth Gürtler has signalised interest in taking over Hotel Bristol. Both the Sacher and the Bristol are five-star establishments situated in the city centre of Vienna. […]
The Freedom Party (FPÖ) has questioned Federal President Heinz Fischers approach to democracy over controversial statements in a recent interview.Fischer a former Social Democratic (SPÖ) president of the federal parliament and science minister told the Kurier newspaper some days ago that he would not have to inaugurate FPÖ boss Heinz-Christian Strache as federal […]
The apartments of former Vienna International Airports (VIA or VIE) managers in Vienna and Lower Austria have been searched by prosecutors, it was confirmed.Klosterneuburg prosecutors announced that search warrants were executed at two homes of former VIA decision-makers and businesspeople assigned to create a new terminal called Skylink this morning (Tues). They added that several […]
Kapsch grabs Algerian assignment
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A Kapsch TrafficCom AG (Kapsch) affiliate is raking in a one-digit million-Euro sum by equipping a federal railway agency in North Africa with a radio system.Kapsch CarrierCom said today (Tues) it has been assigned to deliver and set up the system on a 110-kilometre route in Algeria. The firm refused to reveal any figures, but […]
HGAA trio acquitted
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Three former Hypo Group Alpe Adria (HGAA) employees have been found not guilty of embezzlement.Ex-HGAA head Wolfgang Kulturer, former HGAA Austria chief Gert Xander and Albin Ruhdorfer, a former attorney of the bank, were acquitted at the Provincial Court in Klagenfurt, Carinthia, yesterday (Tues).The businessmen were accused of embezzlement concerning two controversial lending deals.HGAA […]
When the world’s most famous Austrian abroad made his last film he could not resist a plug for his favourite snack. As a result in Terminator 3 the cyborg played by Austrian-born Schwarzenegger grabs a bunch of Manner wafers when shopping for food at the gas station in the desert – and the merciless killing […]
Voestalpine ups research expenditure
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Linz-based steel industry firm Voestalpine AG has decided to increase its research budget.The company announced today (Tues) it will pour 120 million Euros into firm-internal research projects in the 2011/2012 business year which starts this Friday (1 April), around 10 per cent more than in the current business year. Voestalpine pointed out that it has […]
More building sector businesses go bust
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The number of construction industry companies opting for controlled insolvency is on the rise, figures presented today (Tues) show.The Austrian Creditors Protection Association of 1870 (KSV 1870) said 204 building firms went bust in the first three months of this year, around 31 per cent more than in the same time span of 2010.Only some […]