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Vienna Stock Exchange in steep fall after suspension ends
BUS28Business/EconomyVienna Stock Exchange in steep fall after suspension endsVienna, Oct 10 DPA Shares on the leading ATX index of the Vienna Stock Exchange fell by 10.91 percent Friday afternoon after the market had been suspended until midday due to high volatility. Vienna Stock Exchange spokeswoman Beatrix Exinger said the bourse had also needed time to implement new trading rules in response to the expected market fluctuations. According to these new guidelines by Austria's financial oversight authority, trading of a company's share can be stopped if its price moves by more than 10 percent. For eight out of the 20 companies on the ATX, trading was suspended Friday afternoon. The Vienna Insurance Group was among the affected shares, as it had lost 18.17 percent until its trading was halted. As in the past days, Erste Group Bank AG and Raiffeisen International Bank-Holding AG also suffered heavy losses as their shares plummeted by 13.88 percent and 21.72 percent respectively. Another factor for closing the market were the heavy losses over the past days, Exinger said. This week, shares on the blue-chip ATX index have lost 23 percent of their value by Thursday evening. As falling banking stocks account for around a quarter of the market capitalisation on the small bourse, the Vienna Stock Exchange has underperformed other European exchanges this week. Since the ATX was one of the smaller European indexes in terms of capitalisation, Raiffeisen analyst Johannes Mattner explained, investors withdrawing from the market had a bigger effect than in bigger bourses. "If someone backs out, these markets lose ground fast," he said. Another factor for the bad performance of companies listed in Vienna was their exposure to Central and Eastern European business, analysts said. Bauernfried said that previously, Vienna had outperformed other markets because of this factor, but now it had become "a big liability for some companies", such as the building group Strabag SE, whose trading was also suspended. The Bucharest Stock Exchange also halted regular trading Friday for the second time this week, while stock exchange authorities in Moscow announced that they were delaying the opening of trading. Since its record hight in July of last year, shares traded in Vienna have lost 61.5 percent of their value and stood at a total of 64.5 billion euros $88.2 billion as of Thursday evening.--DPAsnb/vt430 Words10102021
2008-10-10 11:02:12
Smuggler hero's celebratory horseback ride deemed 'severe health and safety risk'!
London, September 4 ANI: The annual festival celebrated in southwest England in honour of Dr. Syn, the smuggler hero of a series of novels by Russell Thorndike, was marred by health and safety concerns this year.Villagers in Dymchurch, Kent, did not gallop along a nearby beach and ride through the streets for a Day of Syn celebrating the hero, as they have done on August 2 every year over the past four decades, for want of insurance cover. Many insurers rejected cover outright, and the cheapest quote was 1,000 pounds."For 44 years Dr Syn has burst into the festival on horseback. He is the main show and when he makes his entrance people are truly overwhelmed. But this time he just had to walk around. It just wasn't the same," the Telegraph quoted Ian Hyson, Chairman of the Day of Syn, as saying."He has been on horseback since 1964, but this year the insurers just did not want to know because they said riding a horse was a 'severe' health and safety risk. Only one insurer would listen and they quoted us 1,000 pounds. We simply cannot afford that, so had to do without," Hyson added. The organisers say that they have relied on public liability insurance to cover the event in previous years, but they were surprised to discover that the policy that cost around 450 pounds for the entire festival did not cover someone on horseback. Angela Green, a fan of the books, said: "I've read all his novels and when it comes down to it Dr Syn is a horseman, plain and simple. For him to be without a horse makes a mockery of the whole thing. He's on the front cover of the first ever book for God's sake."Russell Thorndike wrote seven Dr. Syn books set around Romney Marsh, from 1915 including titles such as The Courageous Exploits of Dr Syn, Dr Syn on the High Seas and The Amazing Quest of Dr Syn. Thorndike died in 1972 at the age of 87. ANI
2008-09-04 07:00:00
Brooklyn Construction Accident Lawyers Looking to Justify the Law
&lttable border=&quot0" width=&quot40" cellpadding=&quot8" style=&quotborder-collapse: collapse" height=&quot40" align=&quotright">&lttr>&lttd>&lttable border=&quot0" width=&quot40" cellpadding=&quot0" style=&quotborder-collapse: collapse" height=&quot20">&lttr>&lttd>&ltimg border=&quot0" src=&quothttp://www.bestsyndication.net/images_com/2008/08_august/12/200890812_quicklaunch_voip_picture-1.jpg" title=" " alt=&quotalt text">&lttr>&lttd height=&quot1" valign=&quottop">&ltp align=&quotright">&ltfont size=&quot1" face=&quotArial"&gtBest Syndication News &ltp&gtThe Brooklyn construction industry is definitely taking a hit with the economy shaping up the way it currently is. Construction businesses have been hit with increased insurance premiums, property taxes, and liability issues. The construction industry as a whole has been hit, and hit hard. What they are trying to do is bring it up with the state and hope for the best. &ltp&gtWhat was explained to them by Assemblyman Cliff Crouch and the Republican Steering Committee, is that the â€œthe sheer cost of living and doing business is driving many people out of New York State, especially with antiquated laws the Scaffolding lawâ€. What this means is that not only are these costs increasing, but also people are not able to afford these costs so they are leaving the area. Driving out business is something that would not be beneficial to New York, so therefore something else must be arranged. Brooklyn Construction accident lawyers are working around the clock to produce fair and justified claims for their clients.&ltp>&lta href=&quothttp://bestsyndication.com/q=node/15732"&gtread more
2008-08-19 04:05:32
Largest Insurer Says Malpractice Caps Don't Work
Do caps on medical malpractice damage awards hold down doctors' liability insurance premiums The nation's largest medical malpractice insurer says they don't.
2008-08-08 16:46:52
India gives nod to Social Security Agreement with Germany, Netherlands
New Delhi, Aug 8 ANI: The Union Cabinet today gave its approval for signing of Social Security Agreement between India and Germany. The Social Security Agreement with Germany would provide the benefit to Indian nationals working in Germany as short-term contract upto 48 months no social security contribution would need to be paid under the German law by the detached workers provided they continue to make social security payment in India. ANIA similar agreement between India and The Netherlands was also approved by the Cabinet.The Social Security Agreement with The Netherlands would provide benefits to Indian nationals working in The Netherlands. For short-term contract upto five years no social security contribution would need to be paid under the Dutch law by the Indian detached workers provided they continue to make social security payment in India. Indian workers will be entitled to the export of the social security benefit if they relocate to India after the completion of there service in the Netherlands. The above benefits will be available even when the Indian company sends its employees to the Netherlands from a third country. The self employed Indians in the Netherlands would also be entitled to export of social security benefits on their relocation to India. Matters relating to social security are listed in the Directive Principles of State Policy and the subjects in the Concurrent List. The social security issues are mentioned in the Concurrent List List III in the Seventh Schedule of the Constitution of India. First is social security and insurance, employment and unemployment, and second is welfare of labour including conditions of work, provident funds, employers' liability, workmen's compensation, invalidity and old age pension and maternity benefits.ANI
2008-08-08 06:00:00
Con Ed eyes $24M blast repairs deal
Con Edison has agreed to swallow almost $24 million in repair costs from last summer's devastating steam blast, as well as the extra $2 million a year it must now pay for liability insurance.&ltdiv class="feedflare">&lta href="http://feeds.nydailynews.com/~f/nydnrss/newsa=vDcnHK">&ltimg src="http://feeds.nydailynews.com/~f/nydnrss/newsi=vDcnHK" border="0"> &lta href="http://feeds.nydailynews.com/~f/nydnrss/newsa=sj30Mk">&ltimg src="http://feeds.nydailynews.com/~f/nydnrss/newsi=sj30Mk" border="0"> &lta href="http://feeds.nydailynews.com/~f/nydnrss/newsa=kNKtDk">&ltimg src="http://feeds.nydailynews.com/~f/nydnrss/newsi=kNKtDk" border="0"> &lta href="http://feeds.nydailynews.com/~f/nydnrss/newsa=qL5fIK">&ltimg src="http://feeds.nydailynews.com/~f/nydnrss/newsi=qL5fIK" border="0"> &lta href="http://feeds.nydailynews.com/~f/nydnrss/newsa=GEnWaK">&ltimg src="http://feeds.nydailynews.com/~f/nydnrss/newsi=GEnWaK" border="0">&ltimg src="http://feeds.nydailynews.com/~r/nydnrss/news/~4/359184140" height="1" />
2008-08-08 02:14:34
Insurance Companies liable for $100 million of Legal costs resulting from injuries and deaths sustained by WTC rescue workers
&lttable border=&quot0" width=&quot40" cellpadding=&quot8" style=&quotborder-collapse: collapse" height=&quot40" align=&quotright">&lttr>&lttd>&lttable border=&quot0" width=&quot40" cellpadding=&quot0" style=&quotborder-collapse: collapse" height=&quot20">&lttr>&lttd>&ltimg border=&quot0" src=&quothttp://www.bestsyndication.net/images_com2/2008/08August/080408/20080804_wrongful_death_attorneys.jpg" title=&quotInsurance Companies liable for $100 million of Legal costs resulting from injuries and deaths sustained by WTC rescue workers" alt=&quotInsurance Companies liable for $100 million of Legal costs resulting from injuries and deaths sustained by WTC rescue workers">&lttr>&lttd height=&quot1" valign=&quottop">&ltp align=&quotright">&ltfont size=&quot1" face=&quotArial"&gtstock photo&ltp&gtJudge Alvin K. Hellerstein of the Southern District court of New York recently ruled that insurance companies would be liable for $100 million of New York City's legal defense costs resulting from injuries and deaths sustained by WTC rescue workers. This was hailed as a victory for the WTC rescue workers who have been waiting for almost seven years to receive their share of the $1 billion that Congress allocated for taking care of the heroes that helped in the immediate aftermath of the September 11th tragedy. Of course, this doesnâ€™t mean that $100 million or more will immediately be given to the WTC rescue workers who have been injured or had their lifestyles compromised. It means that insurance companies will be liable for some of the resulting lawsuits, which is one of the key arguments the State of has been making about keeping the $1 billion out of the hands of the WTC rescue workers. So in this case, both sides are happy. Obviously the state is happy because it is that much less liability they face from potential lawsuits. &ltp>&lta href=&quothttp://bestsyndication.com/q=20080804_wrongful_death_attorneys.htm"&gtread more
2008-08-05 04:00:44
Largest Insurer Says Malpractice Caps Don't Work
Do caps on medical malpractice damage awards hold down doctors' liability insurance premiums The nation's largest medical malpractice insurer says they don't.
2008-07-30 03:23:54
Largest Insurer Says Malpractice Caps Don't Work
Do caps on medical malpractice damage awards hold down doctors' liability insurance premiums The nation's largest medical malpractice insurer says they don't.
2008-07-27 03:24:49
Largest Insurer Says Malpractice Caps Don't Work
Do caps on medical malpractice damage awards hold down doctors' liability insurance premiums The nation's largest medical malpractice insurer says they don't.
2008-07-25 02:55:27