Austria and the U.S. - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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The United States of America in Austria | American Expats in Vienna

ÖBB: Massive Losses in Ireland

The ÖBB had to write off € 260m because of a sale and lease-back transaction.

March 19, 2011

Bawag: Successful Return to Profitability

The Austrian bank, which is held by the American Cerberus fund, achieved a profit of € 125m in 2010.

March 17, 2011

Concerns about "Eurovegas"

The Austrian-American project for the construction of Europe's largest casino meets increasing opposition.

March 16, 2011

Verbund Plans an Investment for €600m in the U.S.

A new financial and strategic direction seems to be set by the Austrian Verbund group. Electric mobility is to be promoted.

March 16, 2011

Case IH: Increase in Tractor Production

The American company which produces tractors in Austrian St. Valentin, plans to expand its capacity massively.

March 12, 2011

The Madoff Affair: Austria Gets Into the Focus of U.S. Authorities

In the course of the Madoff fraud case, an American legal assistance request has now been filed before the Austrian justice system. Austrian banking circles are involved.

March 1, 2011

Philip Morris is Market Leader in Austria

The American tobacco company Philip Morris increased its market share, overtaking the Japanese Austria Tabak group for good.

February 26, 2011

Strong Sales Growth for McDonald's

The fast-food chain achieved 9.4% more customers. Sales increased by 8.7%.

February 25, 2011

Lenzing Sells Plastics Filaments Business

The Austrian fiber manufacturer sells plastics filaments business to consortium headed by the US-American Global Equity Partners

February 19, 2011

Bizarre Allegations of Meinl against Atrium

The ongoing conflict between the Austrian bank and the US-Israeli real estate fund shows new and unusual facets.

February 16, 2011

Red Bull Intends to Double Sales

The Austrian energy drink producer plans a period of strong growth for the next eight years.

February 15, 2011

Haidlmair Group: Major Contract from the U.S.

The medium-sized Austrian toolmaker Haidlmair has obtained a major contract from a U.S. logistics company.

February 12, 2011

Manpower Austria Increased Sales

The sales of the U.S. services group Manpower increased last year by 54% to € 130m in Austria.

February 8, 2011

Four Major Orders for Andritz

The Austrian Andritz Hydro receives international orders to equip four hydropower plants. The contract value is € 80m.

February 4, 2011

Consumption Expenditure of Foreign Tourists Grows

Russian and Chinese tourists are proving to be particularly generous consumers in Austria. Overall sales rose by 23% in 2010.

February 3, 2011

Kapsch and Google Enterprise Enter into a Partnership

Google Enterprise IT provider and Austria's leading ICT service-partner Kapsch BusinessCom will work together in future in cloud computing.

February 3, 2011

Atrium Terminates Trust Agreements with Meinl

The US-American/Israeli fund Atrium terminates trust agreements with the Austrian Meinl Bank AG under the 2003 and 2005 bonds due to “important reasons”.

February 3, 2011

Kapsch TrafficCom Names new CEO for its North American Operations

The Austrian Kapsch TrafficCom AG names Christopher F. Murray President & CEO of Kapsch TrafficCom IVHS effective February 1.

February 2, 2011

Constantia Packaging Sells Austrian Subsidiaries

The industrial holding owned by the US-american JP Morgan sells the board manufacturer Duropack and the aluminium company AMAG.

January 31, 2011

Bawag has to Sell Non-Core Business

The Austrian bank, which is owned by the US-American investor Cerberus, is obliged to sell its non-banking subsidiaries.

January 29, 2011

Pankl: Acquisition of US-company

The Austrian technology company Pankl Racing Systems AG increases its stake in Californian aerospace subsidiary from 75% to 100%

January 29, 2011

"Austria Does Not Deserve an AAA Rating"

The chief economist of the American Citigroup, Willem Buiter, also denies Austria, alongside the U.S. and the UK, the right to the AAA rating.

January 29, 2011

GM Powertrain-Austria Celebrates its 20 Millionth Transmission

The Austrian General Motors subsidiary also invested € 50m in the five-speed transmission production in 2010.

January 28, 2011

U.S. Embassy on Hypo Group: "Mini-empire in the Balkans"

New Wikileaks documents indicate that the U.S. Embassy analyzed the symbiosis between the Austrian financial and political scene.

January 27, 2011

Slight Upward Trend in Austrian Tourism

Tourism in 2010: 0.4% more overnights; all-time-high in number of arrivals.

January 27, 2011

Atrium Repays Convertible Bond to Meinl

The American-Israeli real estate fund Atrium repays the 10.75% 2008 convertible bond to the Austrian Meinl Bank.

January 25, 2011

Meinl Bank: New Attacks Against Atrium

The dispute between the Austrian bank and the American-Israeli real estate fund is getting fiercer. Meinl is calling a bond.

January 21, 2011

Pfizer Austria: First Sustainability Report Published

Pfizer Austria published its first sustainability report based on the recognized guidelines of the Global Reporting Initiative.

January 20, 2011

Citigroup Trades on Vienna Stock Exchange

Vienna Stock Exchange gives admission to trading of Citigroup Global Markets Limited, London (UK).

January 18, 2011

Bawag and Post Share 520 Branches

Investments in the common branch network of the Austrian Post and the U.S. fund Cerberus owned Bawag are running.

January 14, 2011

Austria's Competitiveness Increases Slightly

Austria rose one place, to the 21st, in the ranking of the most liberal economies.

January 14, 2011

OMV: Moody´s Warns Against Downgrade

The Austrian energy group has to refinance its acquisitions in Turkey and Tunisia. The American rating agency puts pressure on OMV.

January 10, 2011

Recovery in Austria´s Labor Market Continues

The domestic labor market´s data for 2010 were better than expected. The number of job-seekers declined by 3.7%

January 8, 2011

Management Change at IBM Austria

Tatjana Oppitz is the new Director-General at IBM Austria, replacing Leo Steiner.

January 7, 2011

WIFO and IHS Foresee Economic Weakness

The two major Austrian Economic Research Institutes, WIFO and IHS, expect an economic slowdown in 2011.

January 5, 2011

Spindelegger: Turkey's Joining the EU Will Not Happen Before 2024

In an interview with the "Wirtschaftsblatt", the Austrian Foreign Minister stresses the relevance of Turkey. Croatia should come into the EU much earlier EU.

December 29, 2010

AUA has to Cancel Flight to the U.S.

Persistent snowstorms in the eastern United States, have forced Austrian Airlines to cancel a flight to New York, as local airports there are closed.

December 27, 2010

NXP Sells Sound Solutions Business

The major electronic company NXP moves to the Styrian Gratkorn. The former Philips-subsidiary has sold its division for speakers located in Vienna, Austria.

December 26, 2010

Madoff Affair: Accused Defend Themselves

The accused Sonja Kohn and Stefan Zapotocky defend themselves vehemently against accusations and allegations. Both are, according to the accusation, part of the Madoff system.

December 14, 2010

Contradictions about Sanader's Connection to Carinthia

The connection between the former Croatian Prime Minister Sanader and the Carinthian Hypo Group is multifaceted, but also full of contradictions.

December 14, 2010

Madoff Proceedings: Billion Lawsuit against Bank Austria

The former chairman of Bank Medici, Sonja Kohn, is said to have managed the Madoff system for years. A lawsuit has been filed from the US.

December 13, 2010

Lenzing Expands Fiber Production Capacity

The Lenzing Group, an Austrian actor in man-made cellulose fibers, sets the course for the future expansion of its fiber production capacity.

December 13, 2010

A Las Vegas for Europe

On the Austria-Hungarian border, the European “EuroVegas” gaming metropolis is to be built for € 5.0bn.

December 8, 2010

Sattler AG Expands to the U.S.

The Austrian specialty textiles manufacturer based in Graz, acquires the American brand Outdura in North Carolina.

December 6, 2010

Wikileaks: Criticism of Austrian Politicians by the U.S.

The critical view on Austria's leading politicians on part of the U.S. is written down in the recent revelations of the Wikileaks platform.

December 5, 2010

Passing On of Bank Information: FMA Defends Itself

Since, according to Wikileaks, the Austrian Financial Market Authority (FMA) has passed on bank data to the U.S., a position has been taken about the issue.

December 5, 2010

U.S. Sees Money Laundering Activities at Austrian Banks

Wikileaks has published notes of the U.S. Embassy in Vienna. There were allegedly money exchanges between Austrian banks and criminals.

December 2, 2010

Bawag is Profitable Again

The Austrian bank Bawag PSK, now owned by the U.S. fund Cerberus, is to have profits again this year: € 100m are expected.

December 2, 2010

Globalization Study: Vienna Among Top 20 Cities

New York remains at the top of the ranking of the "Global City Index 2010" by A.T. Kearney. Vienna stays unchanged at 18th place.

November 30, 2010

Encouraging Development of Austrian Tourism

The summer 2010 season ended successfully: the number of guests reached an all-time high record of 17.9 million, 62.5 million overnight stays are the best value since 1995.

November 24, 2010