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Top related persons:
Leonhard Foeger - 1 Rene Benko - 1 Signa - 1 Switzerland's Julius Baer - 1 Hannes Moesenbacher - 1 Matthias Inverardi - 1 Rachel More - 1 Madeline Chambers - 1
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Search resuls for: "Alexandra Schwarz-Goerlich John O'Donnell"


2 mentions found


☆ Europe's Signa toppled in property rout
  + stars: | 2023-11-29 | by ( Alexandra Schwarz-Goerlich John O'Donnell | Alexandra Schwarz-Goerlich | John O'Donnell | ) www.reuters.com   time to read: +3 min
A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, the biggest casualty so far of Europe's property crash. Signa blamed its problems on external factors affecting its property business and pressure on high-street shopping. Fuelled by low interest rates, billions were funneled into property, which was viewed as stable and safe. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.
Persons: Leonhard Foeger, Rene Benko, Signa, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, Rachel More, Madeline Chambers, Catherine Evans Organizations: Signa, REUTERS, Rights, Chrysler, Austria's Raiffeisen Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Switzerland, Hamburg, Bavaria, Hesse, Europe's, United States, China
☆ Raiffeisen slams 'morally arrogant' critics as eyes Russia spin-off
  + stars: | 2023-03-30 | by ( Alexandra Schwarz-Goerlich John O'Donnell | Alexandra Schwarz-Goerlich | John O'Donnell | ) www.reuters.com   time to read: +1 min
VIENNA, March 30 (Reuters) - Raiffeisen Bank International (RBI) (RBIV.VI) took aim on Thursday at "morally arrogant" critics of its dealings in Russia, although said it was considering spinning off its business there anyway amid mounting pressure. Chairman Erwin Hameseder accused critics of "black and white moral thinking" from a "risk free zone of comfort", and said most Western businesses had not left Russia. However, CEO Johann Strobl told the meeting the bank would pursue a possible sale or spin-off of its Russian business. Earlier this month, people familiar with the matter told Reuters the European Central Bank was pressing RBI to unwind its highly profitable business in Russia. The pressure comes after a top U.S. sanctions official raised concerns about RBI's business in Russia on a visit to Vienna last month, another person said.
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