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News Briefs

German tycoon Adolf Merckle commits suicide (Reuters)

German billionaire Adolf Merckle, pictured in this undated handout photo, has killed himself, his family said on January 6, 2009. 'The desperate situation of his companies caused by the financial crisis, the uncertainties of the last few weeks and his powerlessness to act, have broken the passionate family entrepreneur and he took his own life,' a family statement said. Prosecutors in the southern German town of Ulm, near Merckle's home, said the 74-year-old died when a train struck him late on Monday. There was no sign anyone else was involved, they said. Merckle was ranked as the world's 94th richest person in 2008 according to Forbes magazine and his family controls a number of German companies including cement maker HeidelbergCement and generic drug company Ratiopharm, but its empire was rocked last year by wrong-way bets made on shares in carmaker Volkswagen. (Merckle/Handout/Reuters)Reuters - German billionaire Adolf Merckle has committed suicide, in despair over the huge losses suffered by his business empire during the financial crisis, his family said on Tuesday.



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