VIENNA/LONDON (Reuters) – The European Central Bank (ECB) and European Banking Authority (EBA) are aiming to carry out a joint stress test on Europe’s major banks in September, sources told Reuters.
Austria’s FMA markets watchdog said on Wednesday that the EBA plans stress tests this year even as the European Central Bank prepares to take on supervision of top lenders from 2014.
VIENNA, Jan 17 (Reuters) – An Austrian count was acquitted
on Thursday of charges he covertly helped Britain’s biggest arms
group distribute millions of euros to win weapons deals in
central and eastern Europe.
Alfons Mensdorff-Pouilly, who had insisted during his trial
that he served only as a well-connected adviser who had nothing
to do with bribes, instead got a two-month suspended sentence on
a lesser charge of falsifying evidence.
VIENNA, Jan 15 (Reuters) – This year is shaping up as a
survival test for banks in central and eastern Europe. It could
bring recovery for those which have strengthened their balance
sheets and cripple others which have not.
Lending growth is slowing in sluggish economies, bad loans
are on the rise and margins are narrowing from the heady days
before Europe’s debt crisis infected emerging markets to the
East, senior bankers said on Tuesday.
VIENNA, Jan 14 (Reuters) – Former Austrian Interior Minister
and European lawmaker Ernst Strasser was sentenced to four years
in jail for bribery on Monday in a case that prosecutors said
undermined trust in European and Austrian institutions.
Strasser had faced up to 10 years in prison after being
caught on camera offering to propose amendments to European
legislation in exchange for 100,000 euros ($133,500) a year.
VIENNA, Jan 8 (Reuters) – Telekom Austria warned
on Tuesday of a further fall in revenue this year, saying tough
market conditions would continue to weigh on margins as industry
consolidation in its cut-throat home market fails to end a price
The group – in which Mexican billionaire Carlos Slim built a
26 percent stake last year – put expected revenues at around 4.1
billion euros ($5.37 billion), down from the 4.2 billion it has
forecast for 2012, but reiterated it expected to pay a reduced
dividend of 0.05 euros per share for 2012 and 2013.
VIENNA, Dec 14 (Reuters) – Austrian banks need up to 13
billion euros ($17 billion) extra capital to meet new Basel III
rules designed to shore up the sector and keep taxpayers from
footing the bill for bailouts, the central bank said on Friday.
Austrian banks, among the biggest lenders in emerging
Europe, were urged to keep strengthening their balance sheets to
be able to withstand “high” risks in an uncertain economic
VIENNA, Dec 12 (Reuters) – An Austrian count accused of
covertly helping Britain’s biggest arms group win business in
central and eastern Europe insisted on Wednesday he served only
as a well-connected adviser who had nothing to do with bribes.
As his money laundering and perjury trial got under way in
Vienna, Alfons Mensdorff-Pouilly entered not guilty pleas on all
counts and painted himself as a man whose acumen and family ties
propelled him from struggling poultry farmer to prosperity.
VIENNA, Nov 29 (Reuters) – Austria ordered a fresh review of
business deals linked to its $2 billion order of Eurofighter
jets in 2003, aiming to settle allegations they might have been
used to help cloak bribes paid to win the contract.
German prosecutors have alleged aerospace group EADS
paid at least 50 million euros ($63.5 million) in
bribes to Austrian officials to secure the sale of 15
VIENNA, Nov 28 (Reuters) – Raiffeisen Bank International
said it expected bad loans to keep rising into next
year given tense conditions in its emerging European markets,
knocking its shares after a mixed bag of quarterly results.
The Austrian bank, which vies with Erste Group to
be central and eastern Europe’s second-biggest bank after
UniCredit, sees a slight increase in non-performing
loans “in the next months” as the economic downturn lingers.
VIENNA (Reuters) – A dealer in rare Stradivarius violins coveted by the world’s top violinists was sentenced on Friday to six years in prison for embezzlement after his glittering global empire crumbled.
Dietmar Machold, 63, built his Bremen-based family business into a juggernaut with branches in Zurich, Vienna, New York and Chicago to serve elite musicians and collectors of the instruments that can command prices of several million dollars.