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Monday, January 12, 2009

Nigerian militants release photos of British hostages

(CNN) -- A Nigerian militant group released pictures Sunday of two Britons identified as captive oil workers, saying the men were "alive and well" and that more such Western workers would be taken hostage if the country does not stop exporting its oil wealth.

The photos, sent in an e-mail by the Movement for the Emancipation of the Niger Delta (MEND), show the men, identified as Robin Barry Hughes and Matthew John Maguire, standing on a dirt path wearing dirty shorts and flip flops.

The pictures were "recent," MEND said in a written statement, but it is unclear when they were taken.

MEND, formed in 2005, has taken American and European oil workers hostages in the past. The group is calling for more of the African nation's oil wealth to be pumped into the region -- instead of going to foreign investors -- and the release of political prisoners.

The United States Agency for International Development says more than 70 percent of Nigeria lives on less than a dollar a day -- the population is among the 20 poorest in the world.

Nigeria's federal government and oil companies split oil profits roughly 60-40. The money is then supposed to make its way down to the local governments to fund various projects, but little money actually reaches its intended destination.

The country's anti-corruption agency estimates between $300 billion to $400 billion has been stolen or wasted over the last 50 years.
A spokeswoman for the British Foreign Office said the government was aware of the pictures.

"We call for their immediate and unconditional release and will remain in close contact with their families," the spokeswoman said, though she declined to elaborate on whether the families had seen the photos. "Our thoughts are with them on this deeply distressful time."

Violence in oil-rich Nigeria has been limiting crude supplies out of the country. MEND has been attacking oil pipelines in retaliation against government forces, limiting the amount of crude oil that can be exported.

MEND also repeated its threat that the men would be held hostage until the Nigerian government releases one of the group's members, Henry Okah, who was taken into custody last year and, according to local reports, is charged with treason.

Wednesday, January 07, 2009

German billionaire kills self, family says

(CNN) -- German billionaire Adolf Merckle, one of the richest men in the world, committed suicide Monday after his business empire got into trouble in the wake of the international financial crisis, Merckle's family said Tuesday in a statement.

Merckle, 74, was hit by a train in the southwestern town of Ulm, police said.

His family said the economic crisis had "broken" Merckle.

He was number 94 on the Forbes list of the world's richest people. He had fallen from number 44 on the Forbes 2007 rich list as his fortune declined from $12.8 billion to $9.2 billion in 2008.

Merckle's business empire included interests as diverse as cement-maker HeidelbergCement and generic drug-maker Ratiopharm. But he lost hundreds of millions of dollars, including company capital, betting against Volkswagen stock last year.

The state government of Baden-Wuerttemberg rejected his petition for financial assistance, and he entered bailout talks with several German banks.

"The financial troubles of his companies, induced by the international financial crisis and the uncertainty and powerlessness to act independently which the financial problems brought about, broke the passionate family business man, and he took his own life," his family wrote in the news release.

An employee of Germany's railroad company found the body on the tracks at about 7 p.m. Monday and notified authorities. Merckle's family had already reported him missing earlier in the day after he walked out of the house and did not return. Authorities are currently conducting DNA tests to confirm his identity.