The region of Velden in Carinthia is the latest named as having been involved in risky financial investments after losing close to 500,000 Euros of taxpayers money. If correct it will mean Velden is the latest in a number of local government bodies that has tried to profit from speculative investments. Now that the tide […]
Salzburg’s deputy governor and the man in charge of the province’s finances has announced he plans to resign next month after an alleged rogue trader gambled away billions on risky financial market ventures. Law graduate Monika R, 45, was hired in 2001 to speculate with taxpayers money and made massive losses in 2006 after she […]
The lawyer for the alleged rogue trader at the centre of a scandal that might cost the federal province of Salzburg up to 3 billion has accused the regional governor of not telling the truth when she said she did not know anything about the scandal until 3 of December. Lawyer Herbert Hübel said that […]
The listed Vorarlberg tights and lingerie manufacturer Wolford ended up making in the first quarter double the losses made in the same quarter last year. The deficit increased from minus €1.8 million to minus €3.2 million. In comparison with the EBIT results however turnover increased significantly by 4.1% to €33.1 million. That was due to […]
Volksbank AG (ÖVAG) suffered losses of more than 1.3 billion Euros last year. Bank officials announced yesterday (Thurs) that the Viennese finance institute sustained a loss of 1.34 billion Euros in 2011. The news means that the Republic of Austria is robbed of its chances to demand the one billion Euros of participation capital back […]
A civil servant has been suspended over accusations that he has been embezzling large amounts of town hall assets for years.The man, whose name and age were withheld, faces criminal charges. He is accused of having pocketed around 100,000 Euros throughout the past three years. The losses were discovered in an internal inspection.Police in the […]
Air Berlin has suffered losses last year, according to estimations made yesterday evening (Weds).The airline, which cooperates with Austrias FlyNiki, announced its could have suffered operative losses “of a one-digit million-Euro sum”. Air Berlin explained the extreme winter weather in November and December and the strike of air traffic controllers in Spain last month were […]
A textiles industry businessman has vowed to succeed Austrian Airlines (AUA) in offering flights between St. Gallen-Altenrhein Airport and Vienna International Airport (VIA).Bosses of the St. Gallen-Altenrhein Airport, which is located just a few kilometres from the Swiss-Austrian border, cancelled their cooperation with AUA last October. They explained AUA must stop its service as of […]
Fewer than one out of four Austrians are satisfied with the governments work, according to a poll.Researchers Karmasin found that just 22 per cent are pleased by the performance of the coalition of Social Democrats (SPÖ) and the Peoples Party (ÖVP) which took office in December 2008.Sixteen per cent said they were in favour of […]
Wienerberger AG, the worlds biggest producer of bricks, said today (Weds) it suffered losses of more than 13 million Euros in the first nine months of this year.The Vienna-based company announced losses of 13.5 million Euros between January and September 2010 following losses of 198.2 million Euros in the same period of the previous year.Its […]