The bosses of Austria’s most powerful companies are earning much more this year than in 2011, according to a survey. The Labour Chamber (AK) said yesterday (Thurs) that the chiefs of the 20 Austrian firms which were listed on the Vienna Stock Exchange (WBAG) would rake in 1.3 million Euros on average in 2012, up […]
Financial sector staff will get more from next month, it has been announced. Negotiators agreed about an income increase of 3.47 per cent on average yesterday (Thurs). The decision came after clerks were given the all-clear by the Federal Trade Union (ÖGB) to down tools in an attempted pressure increase. They initially called for a […]
The head of Austria’s leading finance institute has shown understanding for the latest bank tax hike and confidence concerning more severe equity ratio regulations. Andreas Treichl, the CEO of Erste Bank Group AG (Erste Bank), said yesterday (Weds) he was not surprised by the government’s decision to jack up the bank solidarity charge by 25 […]
The head of the Austrian National Bank (OeNB) has questioned Moody’s decision to lower the outlook on the Austrian economy’s further development. OeNB Governor Ewald Nowotny said yesterday (Tues) that the government’s 27-billion-Euro budget consolidation package “is a step into the right direction”. He said the rating agency may not have considered the coalition’s measures […]
Hypo Group Alpe Adria (HGAA) managed a solid performance, according to its CEO. Gottwald Kranebitter said yesterday (Mon) the bank could have reached the black in 2011. Kranebitter stressed that final figures for the past year would not be released before March. He said the current course was increasing the chance to find a new […]
Volksbank AG (ÖVAG) plans to dismiss one in five employees in a desperate attempt to avoid going bust. The loss-making bank, which received an emergency injection of one billion Euros from the state three years ago, said yesterday (Thurs) around 250 employees would lose their jobs in the coming months. This figure means that 20 […]
Finance Minister Maria Fekter has claimed Austria’s triple A rating is “safe” despite banks’ struggles in Eastern Europe (EE). The People’s Party (ÖVP) minister told radio station Ö1 on Saturday that she saw no imminent risk to Austria losing its top rating currently established by the world’s leading credit rating agencies. However, the minister admitted […]
Jo-Wilfried Tsonga has won the Erste Open by beating Juan Martin del Potro for the first time after three defeats. The Frenchman thrilled the 3,500 tennis fans at the Stadthalle in Vienna by managing to come back after losing the first set in the tie break in yesterday’s (Sun) final. He upped his game in […]
Rumours that Volksbank AG (ÖVAG) may be nationalised are increasing after the bank warned of immense losses. ÖVAG boss Gerald Wenzel said yesterday (Thurs) the finance institute could suffer a loss of 900 million Euros this year. He added that the losses may also be higher. ÖVAG received one billion Euros of so-called state participation […]
The longest series of bank heists in the history of Austria could have been clarified. Police in Vienna announced yesterday (Thurs) two Macedonians were accused of being behind 24 robberies in the city as well as two bank heists in Lower Austria. A 34-year-old suspect was sentenced to nine years in jail after being arrested […]