Markets Mixed in Early Trading





Wall Street markets opened mixed on Thursday as Apple slid more than 10 percent following a revenue miss, and analysts said equities may be due for a pullback after a six-day rally.




Apple missed Wall Street’s revenue forecast for a third consecutive quarter after iPhone sales came in below expectations, fanning fears that its dominance of consumer electronics was slipping. The shares began falling in premarket trading, and were down 11 percent, to $456.60, in early trading.


Over all, the Standard & Poor’s 500-share index was flat, the Dow Jones industrial average gained 0.2 percent, while the Nasdaq was 0.6 percent lower.


However, some positive economic news looked set to put a floor under stock prices. Growth in Chinese manufacturing accelerated to a two-year high this month and a buoyant Germany took the euro zone economy a step closer to recovery, business surveys showed on Thursday.


In the United States, the number of Americans filing new claims for unemployment benefits unexpectedly fell to its lowest since the early days of the 2007-9 recession, a hopeful sign for the sluggish labor market.


With signs the economy is improving, some investors are lauding the strength of the stock market rather than calling an end to the rally.


“The market has disconnected itself with Apple,” said Jack de Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, N.H. “I think it shows great strength in the overall S.&P.”


The S.&P. 500 rose for a sixth day on Wednesday following stronger-than-expected results from I.B.M. and Google. But Apple could now halt that rally, which had lifted stocks to five-year highs.


In Europe, shares were mostly higher. The FTSE in London was 0.6 percent higher, while the DAX in Germany gained 0.2 percent in afternoon trading.


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Mind: Avoiding Cold Feet Down the Aisle

His charisma was big enough to make his bad habits seem small, more like quirks than flaws. The cigarettes on his breath; the extra weight around the middle; the indifference to clothing and appearances — surely these were minor things, correctable in time.

In the months leading up to the wedding, in 1988, even the fact that he’d been living with his mother at age 38 seemed somehow explainable, if not ideal.

“How about that for a red flag?” said Jincey Huck, a state court employee in St. Louis, of her first husband, who has since died. “Deep down I knew it was a mistake, but I wanted to be married, I wanted kids, all that. I had cold feet the entire time,” said Ms. Huck, now 51.

Psychologists have studied decision-making for more than a century, trying to tease apart how biases, emotion and personality affect big choices and small ones. They have studied people playing investment games. They have taken brain images during hypothetical moral decisions. They have compared the accuracy of snap judgments to long deliberation, trying to gauge the value of subconscious instincts.

But it’s a lot harder to simulate in a laboratory the sort of big life decisions that are risky and hard to reverse: Whether to move across the country. Whether to take a new job, or buy a new house, even switch from PC to Mac. And, perhaps biggest of all: whether to walk down the aisle or split up.

“Virtually every big, real-life decision requires the decision-maker to resolve 10 fundamental questions, or what I call cardinal issues,” said J. Frank Yates, a professor of marketing and psychology at the University of Michigan’s business school. People only feel real confidence, he said, when they begin to address them all, including trade-offs and timing.

Most people, of course, aren’t experts in decision science. They decide based on their own beliefs, whims and their gut.

So how instructive are gut feelings — particularly cold feet — when there are so many moving parts and the stakes are so high? A study published in the current issue of The Journal of Family Psychology provides an answer: plenty instructive, at least when it comes to marriage.

“Having doubts before marriage is not only common, it predicted a higher divorce rate for women and more dissatisfaction in marriages for men and women,” compared with newlyweds with no doubts, said Justin A. Lavner, a doctoral student in psychology at the University of California, Los Angeles.

The study, with co-authors Benjamin R. Karney and Thomas N. Bradbury of U.C.L.A., is the first to examine premarital cold feet in a group of couples over time.

That gut-level doubt can portend coming trouble seems true by definition, self-evident. Yet most big decisions prompt some nervous hesitation, and research suggests that it is the nature and source of those doubts that matter, not their mere presence. Many of the psychological dynamics at play in premarital decision-making are similar to those that build around any big decision.

“The important thing to note is that most people who get divorced do not have major doubts going in” to the marriage initially, even if cold feet may increase the odds, said Arthur Aron, a psychologist at Stony Brook University. “At the same time there are factors — like disagreements with the other person’s parents — that may seem minor but become more important later, for instance, when you have kids.”

Several distractions can make these traps hard to appreciate. One is external pressure created by a wedding. “People get caught up in it and dismiss cold feet as, ‘Oh, that’s only the jitters,’ ” said Anne Milford, co-author with Jennifer Gauvain of “How Not to Marry the Wrong Guy” (Random House 2010), who interviewed about 200 women who had had strong doubts at the altar.

“Women most often said they knew they were making a mistake but did it anyway, often because they had no one who’d listen to them,” Ms. Milford said.

Two other elements that blur the decision are internal, less conscious, and can work against one another.

Both are types of idealization. In a series of studies, Sandra Murray of the State University at Buffalo and others have shown that new lovers have a strong tendency to idealize their partner, in the way that Ms. Huck did: Her friends are kind of sweet, when sober. He gets depressed mostly because he’s so sensitive.

Doubts don’t evaporate; they’re suppressed, only to return later.

The other is an expectation many have, of exquisite happiness. “People feel that they have to find the ideal, perfect Mr. or Ms. Right, who is their soul mate, with whom they will feel passionate love forever, and who will make them happy forever,” said Sonja Lyubomirsky, a psychologist at the University of California, Riverside, and author of “The Myths of Happiness” (Penguin, 2013).

She added: “Of course, both research and anecdotal evidence shows that this is not what typically occurs” and this type of person can easily become disappointed.

Being mindful of both distortions — and finding someone outside the wedding frenzy to listen — is one way to check whether those cold feet are ominous.

Another, Dr. Yates said, is to sit down and write about the doubts. “If a person writes about a decision problem, as opposed to simply thinking about it, she develops greater confidence in the correctness of the decision she eventually reaches,” he said in an e-mail. And that confidence is well placed, his studies have suggested.

“I really did ignore everything; I let it all slide,” said Ms. Huck, who is now happily remarried. “The worst part was afterward, knowing I’d done something I knew at the time was a mistake.”


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Mind: Avoiding Cold Feet Down the Aisle

His charisma was big enough to make his bad habits seem small, more like quirks than flaws. The cigarettes on his breath; the extra weight around the middle; the indifference to clothing and appearances — surely these were minor things, correctable in time.

In the months leading up to the wedding, in 1988, even the fact that he’d been living with his mother at age 38 seemed somehow explainable, if not ideal.

“How about that for a red flag?” said Jincey Huck, a state court employee in St. Louis, of her first husband, who has since died. “Deep down I knew it was a mistake, but I wanted to be married, I wanted kids, all that. I had cold feet the entire time,” said Ms. Huck, now 51.

Psychologists have studied decision-making for more than a century, trying to tease apart how biases, emotion and personality affect big choices and small ones. They have studied people playing investment games. They have taken brain images during hypothetical moral decisions. They have compared the accuracy of snap judgments to long deliberation, trying to gauge the value of subconscious instincts.

But it’s a lot harder to simulate in a laboratory the sort of big life decisions that are risky and hard to reverse: Whether to move across the country. Whether to take a new job, or buy a new house, even switch from PC to Mac. And, perhaps biggest of all: whether to walk down the aisle or split up.

“Virtually every big, real-life decision requires the decision-maker to resolve 10 fundamental questions, or what I call cardinal issues,” said J. Frank Yates, a professor of marketing and psychology at the University of Michigan’s business school. People only feel real confidence, he said, when they begin to address them all, including trade-offs and timing.

Most people, of course, aren’t experts in decision science. They decide based on their own beliefs, whims and their gut.

So how instructive are gut feelings — particularly cold feet — when there are so many moving parts and the stakes are so high? A study published in the current issue of The Journal of Family Psychology provides an answer: plenty instructive, at least when it comes to marriage.

“Having doubts before marriage is not only common, it predicted a higher divorce rate for women and more dissatisfaction in marriages for men and women,” compared with newlyweds with no doubts, said Justin A. Lavner, a doctoral student in psychology at the University of California, Los Angeles.

The study, with co-authors Benjamin R. Karney and Thomas N. Bradbury of U.C.L.A., is the first to examine premarital cold feet in a group of couples over time.

That gut-level doubt can portend coming trouble seems true by definition, self-evident. Yet most big decisions prompt some nervous hesitation, and research suggests that it is the nature and source of those doubts that matter, not their mere presence. Many of the psychological dynamics at play in premarital decision-making are similar to those that build around any big decision.

“The important thing to note is that most people who get divorced do not have major doubts going in” to the marriage initially, even if cold feet may increase the odds, said Arthur Aron, a psychologist at Stony Brook University. “At the same time there are factors — like disagreements with the other person’s parents — that may seem minor but become more important later, for instance, when you have kids.”

Several distractions can make these traps hard to appreciate. One is external pressure created by a wedding. “People get caught up in it and dismiss cold feet as, ‘Oh, that’s only the jitters,’ ” said Anne Milford, co-author with Jennifer Gauvain of “How Not to Marry the Wrong Guy” (Random House 2010), who interviewed about 200 women who had had strong doubts at the altar.

“Women most often said they knew they were making a mistake but did it anyway, often because they had no one who’d listen to them,” Ms. Milford said.

Two other elements that blur the decision are internal, less conscious, and can work against one another.

Both are types of idealization. In a series of studies, Sandra Murray of the State University at Buffalo and others have shown that new lovers have a strong tendency to idealize their partner, in the way that Ms. Huck did: Her friends are kind of sweet, when sober. He gets depressed mostly because he’s so sensitive.

Doubts don’t evaporate; they’re suppressed, only to return later.

The other is an expectation many have, of exquisite happiness. “People feel that they have to find the ideal, perfect Mr. or Ms. Right, who is their soul mate, with whom they will feel passionate love forever, and who will make them happy forever,” said Sonja Lyubomirsky, a psychologist at the University of California, Riverside, and author of “The Myths of Happiness” (Penguin, 2013).

She added: “Of course, both research and anecdotal evidence shows that this is not what typically occurs” and this type of person can easily become disappointed.

Being mindful of both distortions — and finding someone outside the wedding frenzy to listen — is one way to check whether those cold feet are ominous.

Another, Dr. Yates said, is to sit down and write about the doubts. “If a person writes about a decision problem, as opposed to simply thinking about it, she develops greater confidence in the correctness of the decision she eventually reaches,” he said in an e-mail. And that confidence is well placed, his studies have suggested.

“I really did ignore everything; I let it all slide,” said Ms. Huck, who is now happily remarried. “The worst part was afterward, knowing I’d done something I knew at the time was a mistake.”


We hope you’ll “Like” Well on Facebook, where you’ll find news and conversations about fitness, food and family health.

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Bits Blog: Keeping the Internet Safe From Governments

Even before the World Conference on International Telecommunications took place last month in Dubai, Internet activists anticipated trouble. So did Congress, which issued a resolution calling it “essential” that the Internet remain “stable, secure and free from governmental control.”

The worries proved prescient. The conference, which supposedly was going to modernize some ancient regulations, instead offered a treaty that in the eyes of some critics would have given repressive states permission to crack down on dissent. The United States delegate refused to sign it. Fifty-four other countries, including Canada, Peru, Japan and most of Western Europe, voted no as well.

The OpenNet Initiative estimates that about a third of Internet users live in countries that engage in “substantive” or “pervasive” blocking of Internet content. They tended to be among the 89 countries that signed the treaty, including Russia, Cambodia, Iran, China, Cuba, Egypt and Angola.

Those in favor of a free and open Internet have long had a problem with the International Telecommunication Union, the affiliate of the United Nations that ran the conference. They see the I.T.U., which dates back to 1865, as longing for the pre-Internet era, when its influence and fortunes were greater. As a result, activists think, the I.T.U. has become aligned with, and a tool of, countries that desire more governmental control over public speech.

In the wake of the Dubai meeting, there are renewed calls to scale back United States financing of the I.T.U. drastically. The logic is, why are taxpayers supporting an organization whose motives they oppose?

“Paying for both sides of a conflict is unsustainable and illogical, and should simply be corrected,” says the De-Fund the I.T.U. Web site, which has posted a petition on the White House Web site.

The De-Fund site notes that the petition is not asking the United States government to take an unprecedented first step. “Many of our free-market democratic allies, led by Germany, France, Spain and Finland, have already de-funded the I.T.U. Likewise, right-thinking American companies like I.B.M., Cingular, Microsoft, Fox, Agilent, Sprint, Harris, Loral and Xerox, and others, have already withdrawn their private-sector contributions from the I.T.U.”

The petition was the brainchild of Bill Woodcock, the Berkeley-based research director of Packet Clearing House, a nonprofit institute. “This is really about whether people should be allowed to say what they think,” Mr. Woodcock said. “The Internet enables free speech, and that makes it very dangerous to countries that try to control public discourse.”

The United States government contributes about 8 percent of the I.T.U.’s budget. The 55 countries that voted against the treaty contribute about three-quarters of it. If the White House receives 25,000 signatures by Feb. 10, it will review and quite possibly act on the petition. As of Tuesday, it had about 600 signatures with minimal publicity.

A spokesman for the I.T.U., which is based in Switzerland, did not respond to an e-mail seeking comment.

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IHT Rendezvous: Denying American Scots Their Holiday Haggis

LONDON — Scots at home and abroad will be sitting down on Friday night for Burns Night suppers to commemorate their national poet with a feast of haggis.

Robert Burns’ “great chieftain o’ the puddin’-race,” a mix of sheep’s innards and oats tied up in a sheep’s stomach, is the centerpiece of the annual celebration of Scottishness.

It is a pleasure that will once again be denied to Scots-Americans this year, as the BBC’s John Kelly wrote this week in a report that blew a breeze through the heather of the haggis-loving community.

The genuine article has been outlawed in the United States for more than 40 years as a result of a ban on one of its key ingredients — sheep’s lung.

A 1989 health ban on all British offal extended the restriction to hearts and livers, also vital for a true Scottish haggis.

“For many expat Scots and Scots-Americans, the notion of Burns Supper without haggis is as unthinkable as Thanksgiving without turkey,” Mr. Kelly wrote in a report from Washington that revealed aficionados would have to make do with ersatz versions of the Scottish national dish or even — horror of horrors — vegetarian ones.

His report provoked some indignant comments on social media from haggis lovers who pointed out that their favorite sausage was probably a lot safer than the kind of weaponry freely available to U.S. consumers.

Others noted that haggis was no more esoteric than some of the extremes of American cuisine.

And some advised offal-adverse Americans to take a more “waste not, want not” attitude to their food.

As many as 30 million Americans, predominantly in the southeastern states and Texas, have some Scottish ancestry.

Many of their forebears arrived in the New World via settlements in Northern Ireland, an odyssey celebrated by one of their number, former Sen. Jim Webb of Virginia, in his 2004 book “Born Fighting.”

One of their imports, fried chicken, has thrived. But not so the humble haggis.

Scottish producers have attempted to fight back against the ban and two years ago the Scottish regional government invited U.S. health officials to come and try the real thing.

“Scotland’s produce is amongst the best in the world and I’ve asked U.S. Department of Agriculture officials to come here to see for themselves the high standards we have in animal health and processing,” Richard Lochhead, Scotland’s rural affairs minister, said.

U.S. authorities have resisted such blandishments. President George W. Bush passed up an opportunity to taste the delicacy at an international summit in Gleneagles in 2005. “Yes, I was briefed on haggis,” he commented unenthusiastically at the time.

Personally, I’m a fan. A culinary tip: if you manage to get your hands on a real haggis, cook slowly at a simmer and never allow to boil. Eat with a mash of neeps and tatties — swede (or rutabaga) and potato. And don’t forget the compulsory whiskey accompaniment — Scotch, of course.

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I.M.F. Forecast: Global Economic Growth Modest at Best


WASHINGTON — The International Monetary Fund said on Wednesday that it continues to expect a modest upturn in global growth in 2013, with fewer risks of policy mistakes and less financial stress.


The Washington-based fund cautioned, however, that growth is hardly expected to snap back to its pre-crisis levels in the coming years. All in all, the fund sees global growth of 3.5 percent in 2013 and 4.1 percent in 2014, up from 3.2 percent in 2012. In the years just before the global downturn, annual economic growth was 4.5 percent to 5.5 percent.


“If crisis risks do not materialize and financial conditions continue to improve, global growth could be stronger than projected,” the fund said in its economic report. “However, downside risks remain significant, including renewed setbacks in the euro area and risks of excessive near-term fiscal consolidation in the United States. Policy action must urgently address these risks.”


The fund updates its economic projections three times a year in its World Economic Outlook report. This time, it whittled down many of the forecasts for 2013 that it had made in October, knocking 0.1 percentage point from its United States growth forecast, 0.3 percentage point from the euro area and 0.4 percentage point from the newly industrialized Asian economies, like Singapore and South Korea.


The fund said it downgraded its estimate of European growth from October despite “progress in national adjustment and a strengthened European Union-wide policy response to the euro area crisis.” It said that there might be “delays” as lower sovereign-bond yields and reduced financial stress eventually translate into improved private-sector borrowing conditions. It added that uncertainty about the ultimate resolution of the long-simmering European debt crisis remains high.


Slow growth in advanced economies, including the United States, Germany and Japan, will continue to weigh on growth in emerging economies, it said.


For Washington, the “priority is to avoid excessive fiscal consolidation in the short term, promptly raise the debt ceiling and agree on a credible medium-term consolidation plan,” the fund’s economists said. Christine Lagarde, managing director, and other fund officials have repeatedly warned politicians in Washington not to embark on too stringent an austerity program, for the good of the world economy as well as the United States. The I.M.F. planned a news conference in Washington to discuss the forecasts Wednesday.


This month, the I.M.F.’s sister institution, the World Bank, released a rosier economic analysis. It foresees global growth of just 2.4 percent in 2013. But it said that emerging economies could worry less about downside risks from advanced economies and start focusing on domestic economic issues, like labor-market or regulatory reforms.


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Well: Have a Health Question? Ask Well

The Well section of The New York Times is starting a new online featured called Ask Well. If you have a question about fitness, nutrition, illness or family health, the staff of The New York Times Health section is ready to help you find the answer.

How do you solve the problem of back pain caused by sitting in an office chair all day? Do you still need the flu shot even if you’ve had the flu? What’s the best way to heal tennis elbow? Those are some of the questions we’ve already answered in Ask Well.


Tara Parker-Pope speaks about Ask Well.


All questions submitted to Ask Well will be reviewed by the health staff. We’ll post selected questions and let readers vote on those they would most like to see answered. You can ask a question, vote for your favorites and read answered questions on the Ask Well Questions Page.

While Ask Well is not a source for personal medical advice (only your doctor can give you that), we can offer readers health information from the experts and guide you to various resources to help you make informed decisions. So let’s get started. Tell us what’s on your mind, and Ask Well will provide the answers.

Related Articles Also Tagged:

health

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Well: Have a Health Question? Ask Well

The Well section of The New York Times is starting a new online featured called Ask Well. If you have a question about fitness, nutrition, illness or family health, the staff of The New York Times Health section is ready to help you find the answer.

How do you solve the problem of back pain caused by sitting in an office chair all day? Do you still need the flu shot even if you’ve had the flu? What’s the best way to heal tennis elbow? Those are some of the questions we’ve already answered in Ask Well.


Tara Parker-Pope speaks about Ask Well.


All questions submitted to Ask Well will be reviewed by the health staff. We’ll post selected questions and let readers vote on those they would most like to see answered. You can ask a question, vote for your favorites and read answered questions on the Ask Well Questions Page.

While Ask Well is not a source for personal medical advice (only your doctor can give you that), we can offer readers health information from the experts and guide you to various resources to help you make informed decisions. So let’s get started. Tell us what’s on your mind, and Ask Well will provide the answers.

Related Articles Also Tagged:

health

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DealBook: Microsoft May Back Dell Buyout

The effort to take Dell private has gained a prominent, if unusual, backer: Microsoft.

The software giant is in talks to help finance a takeover bid for Dell that would exceed $20 billion, a person briefed on the matter said on Tuesday. Microsoft is expected to contribute up to several billion dollars.

An investment by Microsoft — if it comes to pass — could be enough to push a leveraged buyout of the struggling computer maker over the goal line. Silver Lake, the private equity firm spearheading the takeover talks, has been seeking a deep-pocketed investor to join the effort. And Microsoft, which has not yet made a commitment, has more than $66 billion in cash on hand.

Microsoft and Silver Lake, a prominent investor in technology companies, are no strangers. The private equity firm was part of a consortium that sold Skype, the online video-chatting pioneer, to Microsoft for $8.5 billion nearly two years ago. And the two companies had discussed teaming up to make an investment in Yahoo in late 2011, before Yahoo decided against selling a minority stake in itself.

A vibrant Dell is an important part of Microsoft’s plans to make Windows more relevant for the tablet era, when more and more devices come with touch screens. Dell has been one of the most visible supporters of Windows 8 in its products.

That has been crucial at a time when Microsoft’s relationships with many PC makers have grown strained because of the company’s move into making computer hardware with its Surface family of tablets.

Frank Shaw, a spokesman for Microsoft, declined to comment.

If completed, a buyout of Dell would be the largest leveraged buyout since the financial crisis, reaching levels unseen since the takeovers of Hilton Hotels and the Texas energy giant TXU. Such a deal is taking advantage of Dell’s still-low stock price and the abundance of investors willing to buy up the debt issued as part of a transaction to take the company private. And Silver Lake has been working with Dell’s founder, Michael S. Dell, who is expected to contribute his nearly 16 percent stake in the company to a takeover bid.

Yet while many aspects of the potential deal have fallen into place, including a potential price of up to around $14 a share, talks between Dell and its potential buyers may still fall apart.

Shares of Dell closed up 2.2 percent on Tuesday, at $13.12. They began rising after CNBC reported Microsoft’s potential involvement in a leveraged buyout. Microsoft shares slipped 0.4 percent, to $27.15.

Microsoft’s lending a hand to Dell could make sense at a time when the PC industry is facing some of the biggest challenges in its history. Dell is one of Microsoft’s most significant, longest-lasting partners in the PC business and among the most committed to creating machines that run Windows, the operating system that is the foundation of much of Microsoft’s profits.

But PC sales were in a slump for most of last year, as consumers diverted their spending to other types of devices like tablets and smartphones. Dell, the third-biggest maker of PCs in the world, recorded a 21 percent decline in shipments of PCs during the fourth quarter of last year from the same period in 2011, according to IDC.

In a joint interview in November, Mr. Dell and Steven A. Ballmer, Microsoft’s chief executive, exchanged friendly banter, as one would expect of two men who have been in business together for decades.

Mr. Dell said Mr. Ballmer had gone out of his way to reassure him that Microsoft’s Surface computers would not hurt Dell sales.

“We’ve never sold all the PCs in the world,” said Mr. Dell, sitting in a New York hotel room brimming with new Windows 8 computers made by his company. “As I’ve understood Steve’s plans here, if Surface helps Windows 8 succeed, that’s going to be good for Windows, good for Dell and good for our customers. We’re just fine with all that.”

Microsoft has been willing to open its purse strings in the past to help close partners. Last April, Microsoft committed to invest more than $600 million in Barnes & Noble’s electronic books subsidiary, in a deal that ensures a source of electronic books for Windows devices. Microsoft also agreed in 2011 to provide the Finnish cellphone maker Nokia billions of dollars’ worth of various forms of support, including marketing and research and development assistance, in exchange for Nokia’s adopting Microsoft’s Windows Phone operating system.

A version of this article appeared in print on 01/23/2013, on page B1 of the NewYork edition with the headline: Microsoft May Back Dell Buyout.
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IHT Rendezvous: A Break in the Case of the Kunsthal Heist

Three people have been arrested in connection with the case of the theft of seven paintings from a museum in the Netherlands, the police in Rotterdam announced Tuesday.

The paintings have not been recovered. Estimates of the value of the paintings, which include works by Monet, Matisse, Picasso, Gauguin and Lucian Freud, have varied, with some art experts speculating that they could be worth as much as 100 million euros. The museum, the Kunsthal in Rotterdam, has not disclosed their value.

The three men were arrested in Romania in an unrelated criminal investigation involving art, said Roland Ekkers, a spokesman for the Rotterdam police.

“They are arrested in Romania for a Romanian matter, but obviously we have questions for those three as well,” said Mr. Ekkers.

On Wednesday morning the Rotterdam police were determining whether they would send detectives to Romania to question the suspects, according to Mr. Ekkers.

The heist was carried out on Oct. 16 at about 3:15 a.m., when the thieves entered the Kunsthal through a fire escape door. Surveillance footage shows the thieves were inside the museum for no more than two minutes.

A surveillance tape showing the robbers entering and leaving the museum was released by the police in October:

In the absence of news following the heist, the Dutch press theorized that the robbers were part of an Irish crime ring, or that the burglary was hastily planned by underworld figures to repay debts after a major drug shipment was intercepted in Antwerp last fall.

The stolen art had been on loan to the Kunsthal from the Triton Foundation, a private foundation of the family of the late Willem Cordia, a Dutch investor and collector.

The investigation of the robbery is far from over, said Mr. Ekkers.

“Their arrest has not cracked the case,” he said.

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