Chief Correspondent, Vienna, Vienna
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Oct 19, 2015

UniCredit considers sale of some Bank Austria assets -sources

MILAN/VIENNA, Oct 19 (Reuters) – UniCredit is
considering the sale of retail and small and medium enterprise
(SME) finance businesses at its central and eastern European arm
Bank Austria, two sources close to the matter said on Monday.

“It is one of the options on the table,” one source said.

Austrian newspaper Der Standard cited UniCredit sources as
saying the Italian bank was in high-level talks with U.S.
investor Cerberus Capital Management, the owner of
Austrian lender Bawag PSK.

Sep 13, 2015

Struggling Germany seeks ‘orderly’ tackling of migrant crisis

BERLIN/ZURICH (Reuters) – Germany appealed on Sunday for a rapid return to “orderly procedures” in dealing with Europe’s migrant crisis, as the continent’s most powerful nation acknowledged it could scarcely cope with thousands of asylum seekers arriving daily.

A week after Chancellor Angela Merkel effectively opened German borders to asylum seekers, one senior minister said the country had reached its limits. Bild newspaper reported that Berlin wants to reintroduce frontier controls temporarily, affecting arrivals from Austria first.

Sep 7, 2015

Austria plans to end measures allowing migrants from Hungary and move “towards normality”

VIENNA/MUNICH, Sept 6 (Reuters) – Austria said on Sunday it
planned to end emergency measures that have allowed thousands of
refugees stranded in Hungary into Austria and Germany since
Saturday and move step by step “towards normality”.

Austria had suspended its random border checks after
photographs of a Syrian toddler lying dead on a Turkish beach
showed Europeans the horror faced by those desperate enough to
travel illegally into the heart of Europe, which is deeply
divided over how to cope.

Sep 7, 2015

Austria to revoke measures that let migrants cross from Hungary

VIENNA/MUNICH (Reuters) – Austria said on Sunday it planned to end emergency measures that have allowed thousands of refugees stranded in Hungary into Austria and Germany since Saturday morning.

Austria had suspended its random border checks after photographs of a Syrian toddler lying dead on a Turkish beach showed Europeans the horror faced by those desperate enough to travel illegally into the heart of Europe, which is deeply divided over how to cope.

Sep 6, 2015

Austria to lift measures that let migrants cross from Hungary

VIENNA/MUNICH (Reuters) – Austria said on Sunday it planned to phase out emergency measures that have allowed thousands of refugees stranded against their will for days in Hungary to stream into Austria and Germany since Saturday morning.

Many are fleeing war in the Middle East and hope to take refuge in Germany, Europe’s richest country, but the EU is divided over how to cope with the influx which has provoked both huge sympathy and anti-Muslim resentment among Europeans.

Sep 6, 2015

Austria says time to phase out emergency measures on migrants

VIENNA (Reuters) – Austrian Chancellor Werner Faymann said on Sunday it was time to phase out extraordinary measures allowing the unimpeded inflow of thousands of migrants from Hungary to Austria and Germany.

“We have always said this is an emergency situation in which we must act quickly and humanely. We have helped more than 12,000 people in an acute situation. Now we have to move step-by-step away from emergency measures toward normality, in conformity with the law and dignity,” he said in a statement after “intensive talks” with German Chancellor Angela Merkel and a telephone call with Hungarian Prime Minister Viktor Orban.

Sep 3, 2015

Syngenta to sell vegetable seeds, buy back shares

FRANKFURT/ZURICH, Sept 3 (Reuters) – Swiss agricultural
chemicals group Syngenta AG plans to buy back more
than $2 billion worth of stock to boost shareholder returns
after rejecting a takeover approach from Monsanto Co,
selling its vegetable seeds business to fund the measure.

The world’s largest pesticides company is under pressure to
offer tangible rewards to shareholders after it turned its back
last week on a cash-and-shares bid from unwanted U.S. suitor
Monsanto worth $47 billion at the time.

Sep 3, 2015

Novartis makes history with U.S. launch of ‘biosimilar’ drug

ZURICH/LONDON (Reuters) – Novartis kicked off a new era in U.S. medicine on Thursday with the launch of the first “biosimilar” copy of a biotechnology drug approved in the United States, following a green light from a U.S. appeals court.

Novartis unit Sandoz said Zarxio, its form of Amgen’s white blood cell-boosting product Neupogen, would increase access to an important treatment by offering a “high-quality, more affordable version”.

Aug 19, 2015

Raiffeisen revamp on schedule as second quarter tops forecasts

VIENNA, Aug 19 (Reuters) – Austria’s Raiffeisen Bank
International reported second-quarter profit that
easily beat market expectations and said on Wednesday it would
complete a radical restructuring on schedule, despite delays in
planned asset sales.

Its profit rise, when the market had expected a decline of a
quarter, and its statement that it had boosted its core capital
ratio to 10.7 percent, helped push shares in emerging Europe’s
second-biggest lender up nearly 10 percent to a two-week high.

Aug 11, 2015

Adecco quarter two raises concerns about margin target

ZURICH (Reuters) – Adecco (ADEN.VX: Quote, Profile, Research), the world’s biggest staffing group, said it was relying on a pick up in revenue growth in the second half of the year to hit its 2015 margin target, sparking concern among some investors who sent its shares down more than 3 percent.

The Swiss group said on Tuesday its second-quarter net profit rose 22 percent to 177 million euros ($194 million), missing analysts’ mean forecast of 182 million.

    • About Michael

      "Mike has worked for Reuters for two decades and reported from more than a dozen countries on business and general news. His beats have included covering the European automotive industry, business news from Switzerland, German defense and security policy, and Hungary's transition to a market democracy after the collapse of communism in eastern Europe"
      Joined Reuters:
      1987
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