VIENNA/FRANKFURT (Reuters) – The fate of Austria’s nationalized lender Hypo Alpe Adria could be a harsh reality check for banks and investors across Europe.
If the Austrian government decides to let a bank with a balance sheet worth nearly 9 percent of economic output fail, wiping out creditors including Bavaria’s state bank BayernLB, it could be the biggest jolt to the euro zone since Cyprus hit savers in 2013 to avoid collapse.
VIENNA, Feb 20 (Reuters) – Billionaire investor Carlos
Slim’s America Movil plans a takeover of Telekom
Austria via an accord with its top Austrian
shareholder that would trigger a public offer, News magazine
America Movil has said it does not plan a hostile takeover
offer for Telekom Austria, in which it holds 27 percent, but a
friendly or agreed offer for the majority of the Austrian
company has long been expected.
VIENNA (Reuters) – Austrian President Hans Fischer has been invited to Iran, a country keen to revive ties with the EU member that for centuries was Tehran’s bridgehead to Europe.
If he accepts, he would become the first Western head of state to visit since the election last year of relative moderate President Hassan Rouhani on a platform of relieving Iran’s isolation by engaging constructively with its adversaries.
VIENNA, Feb 12 (Reuters) – The sale of Hypo Alpe Adria’s
Balkans banking network is moving ahead, unaffected
by a row over how to handle the group’s chronic need for state
aid, according to a senior executive from Deutsche Bank, which
is handling the deal.
The nationalised Austrian lender sees its network in
southeastern Europe (SEE) as its prime asset as it winds down
VIENNA (Reuters) – An elderly German recluse whose spectacular trove of artworks hidden in his Munich flat probably include Nazi loot kept a further 60 paintings in his home in Salzburg, Austrian media reported on Tuesday.
The Salzburg haul includes works by artists such as Monet, Renoir and Picasso, the Austria Press Agency (APA) said quoting a spokesman for Cornelius Gurlitt, whose father, Hildebrand Gurlitt, dealt in “degenerate” art confiscated by Nazi Germany.
VIENNA (Reuters) – Austria’s markets watchdog has warned the government against letting nationalized lender Hypo Alpe Adria go bust, saying it was impossible to gauge the risks of such a move.
Austria had to nationalize Hypo in 2009 after a decade of breakneck expansion at home and in the Balkans – fuelled by debt guarantees from its home province of Carinthia – pushed the bank to the brink of bankruptcy.
VIENNA/SOCHI, Russia (Reuters) – Two Austrian competitors have received kidnap threats on the eve of the Sochi Winter Olympics, heightening security concerns at the Games and triggering an investigation by counter-terrorism experts.
It was not known who made the threats, in a letter to the Austrian national Olympic Committee, although Islamist militants have warned of attacks to undermine President Vladimir Putin’s hopes of using the Games to show Russia is a safe, modern state.
VIENNA, Feb 4 (Reuters) – Two Austrian competitors have received kidnap threats on the eve of the Winter Olympics in Sochi, heightening security concerns at the Games and triggering an investigation by counter-terrorism experts.
It was not clear who made the threats, in a letter to the national Olympic Committee, but Islamist militants have warned of attacks to undermine President Vladimir Putin’s hopes of using the Games to show Russia is a safe, modern state.
VIENNA, Feb 3 (Reuters) – Austria should at least consider
allowing troubled lender Hypo Alpe Adria to go bust,
a prominent economist said on Monday, opposing the official line
in an increasingly heated debate about how to handle the
The government, central bank and a special Hypo task force
have warned that a Hypo insolvency might trigger a chain
reaction that could suck in other banks and ruin Austria’s
reputation on international capital markets.
VIENNA, Jan 30 (Reuters) – It’s one of the great mysteries
of music – did composer Antonio Salieri poison his onetime
protege Wolfgang Amadeus Mozart with arsenic?
The famous 1984 Milos Forman film “Amadeus”, based on Peter
Shaffer’s play, leaves little doubt he did. But now the Vienna
museum dedicated to Mozart’s legacy has launched a campaign to
burnish Salieri’s reputation as a supporter of the younger
Austrian genius – and not a jealous villain.