European Technology, Media and Telecoms Correspondent
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Sep 19, 2013

Strache fights euro bailouts in Austrian vote

VIENNA (Reuters) – Austrian far-right leader Heinz-Christian Strache is determined to stop the Alpine republic from bailing out poorer euro zone nations, even if it costs him a place in the next government.

Strache said his Freedom Party (FPO), long led by the late Joerg Haider, will not join a coalition after a September 29 parliamentary election unless there is a referendum on Austria’s participation in the European Stability Mechanism, which provides rescue funds to backstop ailing euro zone members.

Sep 12, 2013

Austrian central bank denies report on Hypo capital

VIENNA, Sept 12 (Reuters) – Austria’s central bank denied a
report on Thursday that it believed nationalised bank Hypo Alpe
Adria could need as much as 17 billion euros ($23
billion) in fresh state aid.

Der Standard newspaper had reported the figure as a
worst-case scenario, saying this came from an internal central
bank (OeNB) report on the troubled lender, which has already
received more than 3 billion euros from the government.

Sep 6, 2013

Lonely activist investor pushes limits in Austria

VIENNA, Sept 6 (Reuters) – Alexander Proschofsky is happy to
be one of a kind but would sometimes welcome company from others
prepared to campaign against underperforming corporate
executives in Austria.

The 43-year-old founder of Cube Invest, best known for his
leadership of a 2007-08 shareholder revolt against Julius Meinl
over the management of his namesake bank, is a rare example of
an activist investor in a culture where consensus is the norm.

Sep 3, 2013

Nokia handsets sale reveals revamped networks value

VIENNA, Sept 3 (Reuters) – Nokia’s $7.2 billion
sale of its core phones division to Microsoft leaves
three disparate high-quality business units whose value should
benefit from the deal.

The central operating business will now be the cleaned-up
networks unit NSN – once again profitable and wholly owned by
Nokia after buying out former partner Siemens – along
with a mapping unit and a valuable collection of patents.

Aug 29, 2013

Forward guidance is providing some security to markets- ECB’s Nowotny

ALPBACH, Austria, Aug 29 (Reuters) – Major central banks’
reassurances that interest rates will stay low for some time are
giving markets “a certain security”, a European Central Bank
policymaker said on Thursday.

Another European official, however, warned against
complacency and said it was too soon to say the euro zone crisis
was over.

Aug 29, 2013

EU’s Rehn sees European recovery strengthening in 2014

ALPBACH, Austria (Reuters) – The fragile European economic recovery seen in the second quarter should continue into next year and become more solid, the European Commission’s top economics official told Reuters on Thursday.

Olli Rehn said greater fiscal credibility in euro zone countries, action by the European Central Bank to stabilize markets and better economic governance had all strengthened the currency bloc’s ability to withstand political shocks.

Aug 29, 2013

Central banks assuring markets with low rates guidance: ECB’s Nowotny

ALPBACH, Austria (Reuters) – Major central banks’ reassurances that interest rates will stay low for some time are giving markets “a certain security”, a European Central Bank policymaker said on Thursday.

Another European official, however, warned against complacency and said it was too soon to say the euro zone crisis was over.

Aug 20, 2013

Building suppliers’ moderate outlook hits shares

VIENNA/DUBLIN, Aug 20 (Reuters) – Two major European
building suppliers said on Tuesday they saw only gradual
stabilisation in Europe, disappointing markets that had expected
better news given recent positive economic data.

Wienerberger, the world’s largest brickmaker, said
construction activity in its major markets of France, Benelux
and eastern Europe was lagging the United States and Britain,
and Ireland’s CRH cut its full-year earnings outlook.

Aug 13, 2013

OMV profits fall on lower sales, crude price, dollar

VIENNA, Aug 13 (Reuters) – Surprisingly strong refining and
marketing results helped take the sting out of a
steeper-than-expected drop in second-quarter underlying profit
at Austrian oil and gas group OMV on Tuesday.

OMV said its results were hurt by lower sales volumes and
crude prices, a weak dollar and write-offs, mainly in the
exploration and production areas on which it is focusing.

Aug 12, 2013

Telekom Austria sidesteps questions on possible Slim bid

VIENNA, Aug 12 (Reuters) – Telekom Austria
sidestepped suggestions on Monday that major shareholder Carlos
Slim might try to take the company over after the Mexican tycoon
bid for the rest of its Dutch peer KPN.

Unveiling results showing competition remained cutthroat,
Chief Executive Hannes Ametsreiter declined comment on bid
speculation that pushed Telekom Austria’s share price sharply
higher on Friday.

    • About Georgina

      "Currently based in London, with particular responsibility for professional publishers and the European activities of global technology, media and telecoms firms. Previously European technology correspondent based in Frankfurt. Began career in local radio in Glasgow and then worked in TV news for many years for Reuters, the BBC and Sky News in London and Moscow."
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