Austrian market News

Flood Damage on Key Austrian Rail Link to Take Months to Repair

Austria’s national railways will need months to restore the country’s busiest train line after catastrophic floods wrecked infrastructure, throttling the capacity to move people and goods. Commuters and supply chains will need to adapt after record rainfall damaged tracks, tunnels …

Central Europe Flood Deaths Rise as Citizens Race to Build Defenses

Volunteers and emergency personnel raced to secure river banks and buildings in Poland and Hungary on Tuesday as flood waters that have wreaked havoc across central Europe began to rise in new areas and the Czech Republic reported another death. …

Flooding in Central Europe Could Cause Billions in Economic Losses, Analysts Say

The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions, early estimates published on Monday found, as the region braced for more damage. Credit rating agency Morningstar DBRS estimates losses will range …

Driverless Bus Hits Pedestrian in Vienna, Halting Trials

Authorities are investigating why a driverless bus struck a pedestrian in Vienna, an incident that resulted in minor injuries but stopped Austrian trials of the technology. The Navya SAS vehicle was driving at 12 kilometers (7.5 miles) an hour on …

Vienna Insurance CEO to Leave Over Strategic Differences; Stadler Is Successor

Vienna Insurance Group AG, Austria’s biggest insurer, said Chief Executive Officer Peter Hagen will leave the company over strategic differences later this month, more than two years before the end of his term. The company named Elisabeth Stadler as a …