Hay Group highlights modern threat to family firms

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Business

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 […]

Fraudster nabbed in Romania

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General News

A Croat wanted internationally by police in Austria was arrested in Romania, it has emerged.The Romanian Times reports today (Mon) that the 34-year-old was caught by police in the southern county of Ilfov.Austrian authorities had issued an international arrest warrant for serious fraud and secret data theft on the man.The suspect’s Austria-based companies accrued hundreds […]

Government introduces quota for females

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Politics

The federal coalition has been attacked from all sides of the political spectrum after agreeing on a quota for females in businesses close to the state.Social Democratic (SPÖ) Women’s Minister Gabriele Heinisch-Hosek and People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner announced yesterday (Tues) that the decision will affect 55 companies in which the Republic of […]

Good news from Austrian IT sector

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Business

Austrian IT companies are in an upbeat mood, a poll has shown.Market research group IDC Austria said today (Fri) that around two thirds of the country’s IT and telecommunications firms expected to be “significantly more successful” this year than they were in 2010. IDC Austria interviewed managers of 182 companies in the field.The Viennese agency […]

Illicit work thriving in Austria

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Business

One in four Austrian companies employ unregistered staff, according to a report.The Kronen Zeitung newspaper quotes secret documents today (Tues), claiming that around 25 per cent of checked firms were found employing illegal workers. The daily newspaper reports that more than 11,200 of the overall 67,000 staff at investigated businesses between January and November 2011 […]

Cutting EU subsidies would be counterproductive, warns Hahn

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Politics

European Commissioner for Regional Policy Johannes Hahn has appealed to colleagues to “think three times” before slashing subsidies for the European Union’s (EU) weaker economies.The People’s Party (ÖVP) politician said today (Thurs): “The EU’s regional policy measures are an important aspect in creating growth. That’s why it would be counter productive to cut subsidies – […]

Most part time staff kept jobs

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Business

The vast majority of workers in Styria asked to work part time during the economic crisis have held onto their jobs, it has been announced.Thomas Krautzer, head of the Federation of Austrian Industries’ (IV) Styrian branch, said today (Weds) 95 per cent of the 17,000 staff who were made part time by dozens of industrial […]

TA bags Bulgarian businesses

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Business

Telekom Austria (TA) continues to invest in Eastern Europe (EE) as it announced the acquisition of two Bulgarian companies today (Weds).Hannes Ametsreiter, general director of the firm, which dominates the Austrian mobile services market, announced TA’s subsidiary Mobiltel bought a 100 per cent interest in Spectrum Net AD and Megalan Network AD for 72 million […]

Doomed Triumph staff to work part time

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Business

Employees at underwear and lingerie manufacturer Triumph International AG’s Hartberg factory will work part time for the next few months, it has been revealed just weeks after firm chiefs announced plans to lay off everyone.The internationally operating Swiss firm said in June that all 291 staff would be made redundant by 31 October when the […]

VIG profit jumps amid tax woes

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Business

Vienna Insurance Group (VIG) reported increased profit today (Thurs).The company announced net profit had risen by 9.2 per cent from the first six months of 2009 to 194.4 million Euros during the same period this year. Profit before taxes jumped by 11 per cent to 255.6 million Euros, it added. Analysts had expected profit before […]