European Technology, Media and Telecoms Correspondent
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May 8, 2013

Telekom Austria raises cost savings target

VIENNA (Reuters) – Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz) plans to save over 110 million euros ($144 million) in costs this year, more than its previous target of 100 million, as price wars rage despite market consolidation in Austria, its chief executive said on Wednesday.

The company reported a drop in earnings late on Tuesday that was less steep than the market had feared but said it expected price competition to intensify.

May 7, 2013

Telekom Austria fights price wars with fewer rivals

VIENNA, May 7 (Reuters) – Telekom Austria said it
expected price competition to intensify in its major markets,
rather than diminish as had been hoped by Austrian carriers
after a consolidation of the market.

Until last year, Austria had four mobile carriers fighting
over a population of just 8.4 million. That was cut to three
with Hutchison Whampoa’s takeover of Orange Austria
in January, but price pressure has not relented.

Apr 30, 2013

Strabag slashes dividend after profit collapse

VIENNA, April 30 (Reuters) – Austrian construction group
Strabag chopped its 2012 dividend by two thirds and
said a profit collapse was due to its own mistakes as well as
austerity measures hurting the sector.

Central and eastern Europe’s biggest builder by market share
reported its first drop in operating profit in 27 years after
taking hits for uncollected payments, participation in
loss-making projects and over-ambitious acquisitions.

Apr 26, 2013

Austria paves way for EU bank secrecy talks

VIENNA, April 26 (Reuters) – Austria dropped its blockade of
European Union efforts to negotiate accords cracking down on
cross-border tax cheats, unveiling on Friday proposals that
would allow scrutiny of foreigners’ accounts while keeping bank
secrecy for Austrians.

After weeks of political wrangling, leaders of the two
coalition parties laid out joint priorities for talks with EU
partners starting next week that could pave the way for deals
with countries like Switzerland and the United States.

Apr 26, 2013

Austria struggles for unity before EU tax talks

VIENNA (Reuters) – Domestic politics are bedevilling Austria’s efforts to forge a unified stance on easing banking secrecy just days before initial talks with European Union partners on how to crack down on cross-border tax cheats.

Austria is the only one of the EU’s 27 states yet to agree to routinely share data on bank accounts held by foreigners, after Luxembourg bowed to pressure this month to end decades of banking secrecy that helped make it a major financial center.

Apr 25, 2013

Analysis: Centuries-old Vienna bourse seeks lifeline in Warsaw

VIENNA/WARSAW (Reuters) – The venerable Vienna Stock Exchange swallowed centuries of national pride this month to enter into talks that could lead to a merger with its upstart rival in Warsaw.

Vienna, the central capital market of the Habsburg Empire in the eighteenth century and later gateway to central and eastern Europe after the fall of the Iron Curtain, has been usurped by the Warsaw exchange GPW.WA, with its friendly regulation and privatisations, as the main arena for investing in the region.

Apr 25, 2013

Centuries-old Vienna bourse seeks lifeline in Warsaw

VIENNA/WARSAW (Reuters) – The venerable Vienna Stock Exchange swallowed centuries of national pride this month to enter into talks that could lead to a merger with its upstart rival in Warsaw.

Vienna, the central capital market of the Habsburg Empire in the eighteenth century and later gateway to central and eastern Europe after the fall of the Iron Curtain, has been usurped by the Warsaw exchange GPW.WA, with its friendly regulation and privatisations, as the main arena for investing in the region.

Apr 22, 2013

Tycoon-politician Stronach aims to put enterprise into Austria

OBERWALTERSDORF, Austria (Reuters) – “The government is the management team of a country and unfortunately that management is made up of politicians.”

Like many others disillusioned with party politics in a recession-hit European Union, Austrian-Canadian car parts tycoon Frank Stronach promises to shake up the cozy political establishment in his native Austria. But unlike most disaffected groups, he promises more business-style government, not less – and he has the cash to make his voice heard.

Apr 9, 2013

Panasonic executive says Europe consumer sales hold up

VIENNA (Reuters) – Panasonic’s consumer electronics sales did not fall in Europe in the fiscal year just ended despite the fact that the business is struggling globally, the company’s Europe head said.

“We are doing quite well in Europe in consumer electronics,” Laurent Abadie told Reuters, adding that the company was not planning to cut its overall number of staff in Europe in the coming 12 months.

Apr 9, 2013

Magnate Stronach lays out anti-political agenda for Austria

VIENNA, April 9 (Reuters) – Austro-Canadian billionaire
Frank Stronach on Tuesday promised to save Austria from career
politicians if elected later this year, holding out the prospect
of seats in parliament for ordinary citizens and more autonomy
from the European Union.

Stronach said the chance to give the Alpine republic, the
country of his birth, a new start convinced him to run for
election instead of spending his retirement in leisure.

    • 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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