The family of German billionaire Adolf Merckle, who threw himself in front of a train on Monday evening, have said the financial crisis was to blame for his suicide.

More news German financial crisis Car makers suffer as exports slump German car makers are among the companies suffering most in the face of a slump in exports as the financial crisis starts to bite in Germany.

Gaza conflict fear Israelis turn to prayer as war continues Increasing numbers of Israelis are turning to prayer as the war in the Gaza Strip continues, with many stricken by fear but determined to win.

The 74-year-old tycoon, owner of Ratiopharm and parts of HeidelbergCement and said to be worth €10 billion, died shortly after 7pm in Schelklingen, Baden-Wuerttemberg. He had hit the headlines recently for losing up to €1 billion in the value of shares he owned in companies including car giant Volkswagen.

Merckle's own companies had been thrown into financial turmoil because of his problems.

Just one day before his death, it was revealed that he had receieved a bridging loan of more than €400 million.

Merckle leaves behind wife Ruth, sons Ludwig, Philipp Daniel and Tobias and daughter, Jutta.

His family released a personal statement about his death: "His firms were in a state of financial emergency resulting from the economic crisis. The insecurities this fuelled in the past few weeks, such as the feeling of powerlessness and lack of control, is what led to the breakdown, and death, of this passionate family businessman."

Car makers are amongst the companies suffering the most in the face of a slump in exports as the financial crisis bites in Germany.