Niemetz, the Austrian manufacturer of the “Schwedenbomben” confectionary, has been saved from insolvency. The creditors have agreed to the restructuring plan and will get a rate of 95 percent. An investor from South America will support Niemetz. The representatives of the creditors have not learned any details about the investor so far. The money (more […]
Tag: plan
Teen robbers’ lake getaway flops
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Two would-be robbers tried to escape the police by leaping into one of Europe’s largest lakes. The duo aged 14 and 16 were caught red-handed during an attempted break-in at a shop in Bregenz, Vorarlberg, last night (Mon/Tues). They initially managed to run away and tried to outrun the officers by jumping into Lake Constance […]
AZ Bau goes bust
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A Carinthian construction company has filed for bankruptcy.Twenty-one employees and almost 200 creditors will be affected by the insolvency of AZ Bau. The Villach-based firm said today (Fri) it had assets of 1.3 million Euros, adding that its liabilities were 3.17 million Euros.The Creditors Protection Association (KSV 1870) said the plan was to find a […]
Leather car seat maker Vogl is broke
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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 […]
Right-wing opinion leaders are up in arms as just two of the 200-odd students at a Vienna school are Roman Catholics.Brigittenau district schools inspector Walter Gusterer said today (Weds) the plan was to now let the children join religious education classes in a nearby school.She explained that high administrational costs could not justify holding religious […]
Former Freedom Party (FPÖ) Finance Minister Karl-Heinz Grasser has branded the rescue plan for ailing Greece the “biggest mistake of the European Monetary Union”.Grasser said in a newspaper interview today (Tues) he would have forced the economically struggling country to leave the Eurozone. This term describes the 16 European Union (EU) member states which have […]
Austrian Peoples Party (ÖVP) Finance Minister Josef Pröll has said he is planning to get banks on board to help financially struggling Greece.Pröll said yesterday evening (Sun) he would speak with the heads of Austrias main banks about whether they could imagine getting involved in the international subsidisation plan for the financially struggling European Union […]
OeNB chief welcomes EU’s Greece agreement
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Austrian National Bank (OeNB) Governor Ewald Nowotny said the rescue plan agreement “defused” the situation of cash-strapped Greece.Nowotny met with Austrian President Heinz Fischer today (Tues) to inform him about recent developments on the Austrian and European financial market.The OeNB boss said afterwards, referring to the rescue plan European Union (EU) leaders had agreed about […]
Customers would be the most affected party if the government decides to set up a new tax for insurance companies, a top branch representative has warned.Günter Geyer, Vienna Insurance Group (VIG) chairman and head of the federal insurance companies association, said today (Weds): “Eighty per cent of the money managed by insurance companies belongs to […]