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The United States of America in Austria | American Expats in Vienna
Austria and the U.S. - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
SLR Group Plans Major Increase in Sales
The Austrian foundry company expects to realize sales of 60m in 2011/12. In the first half year, sales were up by 24%.
February 9, 2012
Merger of Glencore and Xstrata: voestalpine Not Concerned
The Austrian steel company does not feel affected by the merger between the two major commodity corporations Glencore and Xstrata.
February 8, 2012
Innovation Index: Austria Falls Behind
Austria again loses in competitiveness: among the EU member countries, Austria occupies the eighth rank.
February 7, 2012
Black Sea: Petrom and Exxon Mobil Found Gas
Romania’s first deepwater well indicates presence of hydrocarbons. The U.S. Exxon Mobil and Petrom, a Romanian subsidiary of Austrian OMV, are searching for natural gas.
February 4, 2012
Privatization of Kommunalkredit Starts
The sale of the nationalized bank will start in the second half of 2012. For 2011, losses could reach up to € 150m.
February 4, 2012
AMAG to Become New Owners?
About one third of Austrian aluminum producer´s shares are for sale. Raiffeisen and B&C are potential buyers.
February 4, 2012
Coca Cola Closes Viennese Site
For cost reasons, the U.S. soft drink producer shifts production from Vienna to Burgenland. 80 employees will be laid off.
February 2, 2012
BDI Receives Major Order from USA
Austrian BioEnergy obtained order for retrofitting a U.S.-based biodiesel plant.
February 2, 2012
Kommunalkredit Downgraded by Moody´s
The U.S. rating agency downgraded Kommunalkredit Austria to Baa3.
February 2, 2012
After Downgrade of Vienna: No Consequences Expected
The Viennese financial senator Renate Brauner does not fear negative impacts on Vienna´s finance. This week, the city was downgraded by S&P.
January 27, 2012
voestalpine Concluded Largest Single Contract to Date
The Automotive Division of the voestalpine Group has concluded its largest single contract to date, with a leading European car manufacturer. The order volume amounts to around € 700m.
January 27, 2012
S&P Downgrades Austrian Provinces
The U.S. rating agencies lowers ratings for Upper Austria, Vienna and Tyrol from “AAA” to “AA+”.
January 26, 2012
Opel Records Rise in Production
Opel Austria, a subsidiary of the U.S. group General Motors, could raise production by 11% in 2011.
January 25, 2012
S&P Keeps Rating for Erste Group and RZB
After the downgrade of Austrian sovereign bonds two weeks ago, the U.S. rating agency remains its ratings for the two largest domestic banks.
January 25, 2012
Scharinger: „Rating Agencies Are Instruments of Torture“
The leaving CEO of RLB Upper Austria, Ludwig Scharinger, is convinced that Europe needs must make itself more competitive against the U.S. financial industry.
January 24, 2012
“Europe, quo vadis?”
Today, the 9th Vienna Congress com•sult takes place in Vienna. The central issue “Challenges of Leadership in Europe” is discussed, among others, by Lech Walesa, Hans-Dietrich Genscher and Avigdor Liberman.
January 24, 2012
New Records for Viennese Tourism
In 2011, the Austrian capital registered 11.4 million guest nights, which is a new record.
January 24, 2012
New Record in Agricultural Exports
In 2011, Austrian food exports exceeded € 9.0bn for the first time.
January 21, 2012
Moody´s Downgrades Telekom Austria
The U.S. rating agency lowered Telekom Austria´s rating from A3 to Baa1, which is due to the weak business development.
January 19, 2012
AT&S Launches Strategic Alliance with U.S. MFLEX
Multi-Fineline Electronix, Inc. and AT&S Austria Technologie & Systemtechnik Aktiengesellschaft, today announced a Strategic Alliance Agreement.
January 19, 2012
Signs for Economic Stabilization
The Austrian Central Bank (OeNB) sees signs that the economic downturn trend can be stopped. A small growth in 2012 could be possible.
January 17, 2012
Metro Cancels Kaufhof Sale
The Austrian real estate investor René Benko has to abandon the plan to take over the German retail chain Kaufhof.
January 17, 2012
Binder Creates New Technology Company
Binder+Co AG has started the 2012 financial year with the foundation of a new subsidiary in the shape of Bublon GmbH. Binder+Co Group now consists of a total of four companies.
January 16, 2012
Downgrade: „It´s Time to Take Action“
The downgrade of Austria´s rating from “AAA” to “AA+” caused mixed reactions. The Austrian economy urges for structural actions.
January 15, 2012
New Management for Microsoft Austria
With Georg Obermeier, the Austrian subsidiary of the U.S. software group has a new executive.
January 14, 2012
Downgrade: Government Surprised and Criticized
For the Austrian government, the downgrade by the U.S. rating agency is „not comprehensible”. The domestic industry urgently claims structural reforms.
January 14, 2012
Austria to Lose its AAA
According to partially confirmed market rumors, S&P will downgrade France and Austria.
January 13, 2012
Bank Austria Lost Madoff Case
Bank Austria distributed Primeo Funds, issued by the U.S. former investment banker Bernard Madoff. The prospectus did not contain sufficient information, a Viennese court decided.
January 13, 2012
Lenzing Continues Supply to U.S. Army
U.S. President Obama signs permanent import approval allowing the Austrian Lenzing AG to supply flame-resistant fibers to the U.S. Army.
January 12, 2012
Fitch: Austria´s AAA-Rating Not Endangered
According to the U.S. rating agency, the financial stability in Austria is still excellent. The bond auction today went well.
January 10, 2012
Petrom and Exxon Explore in Black Sea
Petrom, the Romanian subsidiary of the Austrian oil and gas group OMV, closed a partnership with the U.S. oil group ExxonMobil.
January 9, 2012
Substantial Decrease in Stock Market Turnover
The Vienna Stock Exchange recorded a decline in stock market turnover by 18% in 2011. This is also due to new taxes.
January 2, 2012
New Record for Austrian Wine Exports
Although the quantity of wine exports is shrinking steadily, the export volume worth € 126m reached a new record.
December 28, 2011
Emco With Growth Plans
The new owner of the former A-Tec subsidiary, now can begin to realize its expansion plans.
December 27, 2011
Benko Relieved from Money Laundering Accusations
Investigations against the Austrian real estate investor will end soon, German newspapers report. Benko bids for Metro´s subsidiary Kaufhof.
December 20, 2011
Kaufhof-Deal Not Closed Before 2012
The two main competitors for the German retail chain are the Austrian real estate investor René Benko and the U.S. investor Nicolas Berggruen.
December 17, 2011
Difficult Search for Investors at Wall Street
Austrian companies try to find new investors in the U.S. The relatively small size of Vienna Stock Exchange and the euro-crisis make this difficult.
December 8, 2011
Rating Agencies Are Seen As Threat
The governor of the Austrian Central Bank, Ewald Nowotny, attacks S&P. For the head of the economic research institute IHS, Bernhard Felderer, the negative outlook must be seen as a warning signal.
December 7, 2011
Austrian Foreign Trade Deficit on the Rise
From January to September 2011: imports rose by 17%, exports increased by 14%. The deficit amounts to € 6.0bn.
December 7, 2011
Increasing Gap in Incomes
Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.
December 6, 2011
Only Small Increase in Exports in 2012
After a substantial growth in 2011, OECD expects only a slight rise in Austrian exports.
December 6, 2011
UK Court Freezes Assets of Kohn
A British judge froze funds of 27m pounds (€ 31.4m) of the Austrian former investment banker Sonja Kohn, who is accused to have participated in Bernard Madoff´s frauds.
December 3, 2011
Benko Puts Pressure on Kaufhof
The Austrian real estate investor René Benko presents his growth program and wants to outbid his rival, the U.S. investor Berggruen.
November 28, 2011
Investigations Against Benko
The Austrian real estate investor Benko is suspected for money laundering. Benko denies and sees a link to the Kaufhof-deal.
November 26, 2011
Austrian & CEE Investor Conference 2011 in New York
15 companies from Austria and CEE will participate in the conference on 28 November.
November 25, 2011
Analysts Expect Good Results for Kapsch TrafficCom
The Austrian toll system supplier will increase sales as well as earnings in the third quarter, analysts say.
November 22, 2011
Rosenbauer Reports Drop in Profit
The Austrian manufacturer of fire fighting vehicles registered record order intake of € 456m in the first nine months of the year. Revenues and EBIT came in lower than expected due to shipment delays.
November 18, 2011
Strong Growth for Exports to USA in 2012
This year, Austrian exports to the U.S. will reach the level of 2008. The export volume will amount to € 6.0bn this year.
November 12, 2011
Bawag Sues Linz For € 418m
The U.S.-owned bank now sues the Upper-Austrian capital. Linz has terminated a swap contract based on Swiss Francs.
November 8, 2011
Intercell Still Reports Losses
The Austrian pharmaceutical company could reduce its net losses from € 50.8m to € 20.62m. For the full year the net loss expectations ranges up to € 40m.
November 8, 2011
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