More than six in 10 Austrians want a dissolution of the Austrian industry-holding stock corporation (ÖIAG), according to a poll.Researchers IFES said today (Mon) 61 per cent supported a possible shutdown of the body, while 30 per cent backed its continued existence.The future of ÖIAG and responsibilities has been publicly debated by the Social Democrats […]
Politicians in Upper Austria have turned their guns on Federal Railways (ÖBB) bosses after the firm announced plans to end its Linz Graz Intercity service.The state-owned company said today (Fri) that it would stop offering a direct high-speed connection between the Upper Austrian city of Linz and Graz in the province of Styria after […]
More than 150 workers fear losing their jobs as a car industry supplier goes bust.Mattighofen-based leather producer Vogl said today (Thurs) that it has been forced to declare itself bankrupt following a dramatic decrease in orders of its products from car manufacturers. It used to provide leather seats for German firms like BMW, Porsche and […]
Former Hugo Boss chairman Werner Baldessarini has joined the supervisory board of an Austrian textiles firm, it emerged today (Thurs).Bregenz-based textiles and tights manufacturer Wolford said the Tyrolean has been assigned to help in positioning the company and its products.Baldessarini headed the executive board of German fashion giant Hugo Boss until 2002 before spending three […]
Priceless paintings by an iconic Austrian artist have resurfaced four months after being stolen, it has emerged.Viennese police confirmed today (Weds) that “Architectura Caelestis Monstranz” and “Der Gekreuzigte zwischen dem Versucher und dem Engel der Tröstung” by Vienna School of Fantastic Realism spearhead Ernst Fuchs were placed in the garden of a weekend lodge […]
Motorists are infuriated after a survey revealed dramatic differences between prices charged for oil changes at garages in the province of Styria.The Labour Chamber (AK) announced today (Weds) its checks showed some garages demanded up to 210 Euros for changing a cars oil while others invoice only 28 Euros.AK, who tested an overall 57 repair […]
BAWAG boss Byron Haynes has denied claims Cerberus Capital Management considered leaving the Austrian bank sooner than planned following the introduction of stricter banking regulations.Haynes stressed today (Weds) speculations that the US American investor would sell BAWAG sooner than expected because of the Basel III agreement were wrong. Cerberus committed to remain on board for […]
Telekom Austria (TA) confirmed today (Tues) it was interested in snatching a stake in a Kosovan telecommunication firm.A spokesman for TA, which leads the Austrian mobile services market, announced the company was one of five firms which have informed the Kovovan government of their interest in the 75 per cent share of state-owned PTK on […]
Outgoing Magna co-chief Siegfried Wolf has rubbished claims that his departure will have a negative effect on the car parts makers factory in Austria.Russian billionaire Oleg Deripaska said earlier this month Wolf was set to head the automotive division of his company Russian Machines.The announcement came just weeks after Frank Stronach accepted a multi-million payout […]
Political decision-makers are at odds over what conclusions to draw from economic predictions made today (Fri).The Institute for Economic Research (WIFO) and the Institute for Higher Studies (IHS) announced they expected the Austrian economy to recover quicker from the credit crunch than initially predicted.IHS said the countrys gross domestic product (GDP) will rise by 1.8 […]