Ex-ABN
Banker Schmittmann Killed Wife, Daughter, Himself - (www.bloomberg.com) Former
ABN Amro NetherlandsChief
Executive Officer Jan Peter Schmittmann committed suicide after killing his
wife and one of his daughters, Dutch police said, as his family said he
suffered from depression. The Dutch forensic institute has “confirmed
suspicions” of a murder-suicide, the police said in a statement today. Schmittmann’s family was cited as
saying in the statement that “we knew Jan Peter struggled with severe
depression.” Schmittmann, 57, and his wife and daughter were found at their
home in Laren, 32 kilometers (20 miles) southeast of Amsterdam, on April 5
after the police received a call from an acquaintance who said something might
be wrong at the property. Dutch newspaper De Telegraaf identified the dead women as Schmittman’s
57-year-old wife, Nelly, and their daughter Babette, 22.
Millions of Americans aren’t working. Why? - (www.cnbc.com) Call
it the million-worker mystery. A large chunk of American adults are no longer
in the labor force. That has left economists divided over how many of them are
voluntarily not working—or even looking for work—because they wanted to retire,
go to school or take care of family members, versus how many have been forced
out because they couldn't find a job. "Almost everyone who's looked
rigorously at the numbers thinks both of those things are going on," said
Heidi Shierholz, an economist with the Economic Policy Institute, a
left-leaning think tank. What they can't agree on is what is more
prevalent—leaving the workplace on purpose or getting left out even as the
economy improves.
MillerCoors says probe shows
ex-employees embezzled millions - (www.cnbc.com) MillerCoors, a U.S. joint venture between SABMiller and Molson Coors
Brewing,
on Thursday said it had uncovered a multiyear scheme in which two former
employees allegedly embezzled several million dollars. "Based on an
extensive internal and external investigation, MillerCoors believes former
employee David Colletti embezzled several million dollars from the company over
several years and that former employee Paul Edwards was involved to a lesser
extent in the scheme," company spokesman Jonathan Stern said in a
statement.
Hollande
Deficit-Delay Campaign Begins as Sapin Visits Berlin - (www.bloomberg.com) President Francois
Hollande’s
campaign to slow the pace ofFrance’s deficit reduction
effort begins today as the new ministerial duo responsible for the economy and
finance court their German counterparts in Berlin. French Finance Minister
Michel Sapin will meet with Wolfgang Schaeuble and Arnaud
Montebourg,
who since last week is responsible for both the economy and industry
portfolios, holds talks with Economy and Energy Minister Sigmar
Gabriel.
Sapin and Schaeuble are due to brief reporters at about 11.30 a.m. in Berlin.
Fortress
to Tudor Lose in First Quarter as Macro Misfires - (www.bloomberg.com) Paul Tudor
Jones,
Michael Novogratz and Louis Bacon, hedge-fund managers that profited last year
from bets on macroeconomic trends, posted losses in the first quarter as some
of those trades turned against them. Markets gyrated in the first three months
of the year as investors fled developing countries in anticipation of further
reduction in U.S. monetary stimulus, Russian PresidentVladimir
Putin annexed
Ukraine’s Crimea region and Japanese stocks tumbled. The losses for macro
managers have caused them to cut some of their bigger bets, Anthony Lawler, a money
manager at
the $120 billion Swiss firm GAM, wrote in a report last week, though their
views -- including that Japanese stocks will rise and the U.S. dollar will gain -- could make money later in 2014,
he said. “The directional conviction trades did not play out in the first
quarter, despite a strong underlying thesis,” Lawler wrote. “Later this year
there may be upside for some of these larger trades such as long US dollar
positioning, the Japan reflation
trade and the China slowdown risk.”
World
Bank trims China, East Asia 2014 growth forecasts - (www.reuters.com)
Draghi’s $1.4 Trillion Question Lingers as ECB Mulls QE - (www.bloomberg.com)
Draghi’s $1.4 Trillion Question Lingers as ECB Mulls QE - (www.bloomberg.com)
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