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Dutch banker killed wife and daughter before suicide: police

AMSTERDAM (Reuters) - A Dutch banker killed his wife and younger daughter before committing suicide, police said on Monday. Jan Peter Schmittmann, 57, who ran domestic operations at ABN AMRO when it was one of the largest banks in the world, was found dead at his home in the wealthy Amsterdam commuter town of Laren early on Saturday. Police said forensic work carried out over the weekend had given them a clear picture of the deaths of Schmittmann, his 57-year-old wife and 22-year-old younger daughter.

Former top Dutch banker found dead at home with wife and child

AMSTERDAM (Reuters) - A Dutch former top banker who came under fire for taking a large pay-off after the nationalization of his troubled bank was found dead along with his wife and daughter on Saturday in what police called a family tragedy. Jan Peter Schmittmann, 57, ran the domestic operations of Dutch bank ABN Amro between 2003 and 2007 and was widely criticized for landing an 8 million euro ($10.95 million) pay-off after the bank's collapse and subsequent nationalization.

Fortis gets U.S. regulatory approval for $4.3B UNS Energy acquisition

ST. JOHN'S, N.L. - Fortis Inc. (TSX:FTS), one of Canada's largest utility companies, has received regulatory approval in the U.S. to move ahead with its acquisition of UNS Energy Corp. The company, which operates power and gas utilities in several provinces and U.S. states, says the Washington-based Federal Energy Regulatory Commission gave the deal the green light, finding that it was "consistent with the public interest." The purchase of UNS is valued at $4.3 billion, including $2.5 billion cash plus assumed debt

Fortis raises dividend for 41st year in a row, reports $100-million Q4 profit

ST. JOHN'S, N.L. - Fortis Inc. (TSX:FTS), one of Canada's largest utility companies, is raising its dividend. The increase takes the quarterly dividend up a penny per share to 32 cents starting March 1, yielding about four per cent annually at current stock prices. The company, which operates power and gas utilities in several provinces and U.S. states, reported Thursday a profit of $100 million or 47 cents per diluted share for the quarter ended Dec. 31. The profit was up from $87 million or 45 cents per share in the fourth quarter of 2012.

Dutch bank boss gives employees lesson as brothel owner

The boss of nationalised Dutch bank ABN Amro dressed up in drag as a brothel owner for his annual speech to employees, calling for them to apply his "values". Former finance minister Gerrit Zalm dressed up as his "sister" Priscilla in a blue silk evening dress, brown wig, glasses and golden gloves for the bank's annual cabaret earlier this month. "You have to start with three core values: trust, expertise and ambition," she told an audience of around 7,000 ABN Amro employees, explaining the parallels between the banking and prostitution businesses.

TSX slightly lower: retail data, U.S. budget deal add to Fed tapering concerns

TORONTO - The Toronto stock market closed slightly lower Thursday as a U.S. budget deal and a solid retail sales report fuelled expectations that the U.S. Federal Reserve could start cutting back on its monetary stimulus program as early as next week. The S The Canadian dollar declined 0.42 of a cent to 93.98 cents US as the stronger than expected retail sales report boosted the greenback.

Canadian utility Fortis to buy Arizona-based UNS Energy for $2.5 billion

Fortis Inc., a Canadian utility company, said Wednesday that it plans to buy power provider UNS Energy Corp. for $2.5 billion, expanding its business into Arizona. Fortis will pay $60.25 per share for UNS Energy. That's 31 per cent above UNS Energy's closing price of $45.84. Fortis will also assume $1.8 billion in debt. The companies said Wednesday that they value the deal at $4.3 billion.

Fortis to acquire UNS Energy for US$4.3B, including US$1.8B in debt

ST. JOHN'S, N.L. - Fortis Inc. (TSX:FTS) says it has signed a deal to acquire Arizona-based UNS Energy Corp. for US$4.3 billion including the assumption of about US$1.8 billion of debt. The Canadian utility company has agreed to pay US$60.25 per share in cash for the UNS Energy, which serves about 654,000 electricity and gas customers. UNS Energy shares closed down 46 cents at US$45.84 on the New York Stock Exchange on Wednesday. The deal is expected to close by the end of next year, subject to shareholder, regulatory and government approvals.

Dutch Supreme Court upholds ruling Fortis bank was mismanaged, board can be held accountable

AMSTERDAM - The Netherlands' Supreme Court has upheld rulings that the now-defunct Belgian bank Fortis NV was mismanaged from September 2007 to September 2008, and its then-management board can be held accountable. Friday's ruling opens the door for investor claims against former CEO Jean-Paul Votron, among others, though not former supervisory Chairman Count Maurice Lippens, whom lower courts found was too far removed from decision making to be held liable.

ABN Amro to buy Credit Suisse's banking business in Germany

THE HAGUE, Dec. 5 (Xinhua)-- Dutch bank ABN Amro on Thursday announced its purchase of Credit Suisse's domestic private banking business in Germany, without disclosing the price. The acquisition would add more than 10 billion euros (13.6 billion U.S. dollars) in client assets to Bethmann Bank, ABN AMRO's private bank in Germany. ABN Amro said the deal further strengthened its private banking activities in Europe.
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