German economy 'collapsed in late 2008, worse on the way' FRANKFURT (AFP) - Snared by the global economic slump, the German economy contracted sharply late last year, suggesting a disastrous 2009 for Europe's industrial powerhouse. German mogul kills self over financial meltdown BERLIN - German billionaire Adolf Merckle threw himself in front of a train after his business empire, which included interests ranging from VW cars to pharmaceuticals to cement, ran into trouble in the global financial crisis, his family said Tuesday. World stocks pressured by scandal, uncertainty NEW YORK (AFP) - Stock markets came under renewed pressure Monday as major global banks declared exposure to a multibillion-dollar Wall Street scandal and a plan to save the US car industry remained in limbo.
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