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. Last Updated: 07/27/2016

10/10/2008

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Investment Banks Struggle to Adapt

Staff Writers
After almost a decade of lightning-quick growth and skyrocketing salaries, Russia's investment banking sector has been brought down to earth with a thud by the global financial crisis.

Markets Post Gains After Surprise Opening

Trading on Moscow's stock exchanges resumed unexpectedly Thursday after the country's market regulator went back on a decision from a day earlier to keep them closed until Friday, triggering confusion and complaints on the part of some investors.

Severstal Cuts Back At 2 Plants in U.S.

Severstal is putting 800 workers on part-time shifts at two of its plants in Ohio until further notice due to the economic slowdown in the United States, a negotiator for the plant’s labor union said Thursday.

Magnit Share Sale Shelved After Drop

Magnit said Thursday that it was canceling a planned sale of 3 million shares after the food retailer's London-listed shares plummeted 31 percent the day before.

Khodorkovsky Gets Solitary for Interview

Jailed businessman Mikhail Khodorkovsky has been placed in solitary confinement in a Siberian prison for giving an interview to the Russian version of Esquire magazine, his lawyers said Thursday.

Yushchenko Dissolves Rada, Calls Vote

The Associated Press
Ukrainian President Viktor Yushchenko decreed a Dec. 7 date for early elections Thursday after dissolving the parliament.

Putin Refuses Call to Fire Kudrin

Reuters
Prime Minister Vladimir Putin brushed aside a demand by the Communist Party to fire Finance Minister Alexei Kudrin on Thursday, saying now was not the time to discuss mistakes made by economic authorities.

Medvedev Gets Deal on Kyrgyz Bases

President Dmitry Medvedev got an agreement for the development of military bases in Kyrgyzstan, already home to an Air Force base, as he met with Kyrgyz President Kurmanbek Bakiyev in Bishkek on Thursday.

Finding Energy to Beat a Recession

As a global economic recession looms, the medium-term development prospects for the world's energy sector will change substantially.

A Collapse, by Any Other Name ...

hat's in a name? Judging by the somewhat frenzied naming and renaming of the plan to save the U.S. economy -- a great deal. First it was dubbed the bailout plan.

Business in Brief

Moody's Cuts Bank SoyuzMosPrime Rate JumpingKazakhs Pass on NabuccoCherkizovo H1 Profit RisesUralsvyazinform on Its DebtBlavatnik Gets Gibson's IconFor the Record

Deripaska's Stake In Strabag Safe

Bloomberg
Strabag CEO Hans-Peter Haselsteiner on Thursday moved to keep Oleg Deripaska as a shareholder, agreeing with banks to refinance 500 million euros ($683 million) of loans he used to gain a 25 percent stake in the company.

Court Overturns Dudley Work Ban

The Associated Press
The Moscow City Court on Thursday overturned a court order barring TNK-BP chief executive Robert Dudley from working in Russia for two years.

News in Brief

Russia Blasts 'Secretive' PactBank Employee TorturedBulbov's Secretary ChargedNATO Urged for Georgia

Poles Make Arrest in Attack on Deputy Mayor

Combined Reports
Polish police have arrested a Russian citizen wanted in his country for purportedly taking part in the 2002 attempted assassination of former Deputy Mayor Iosif Ordzhonikidze, Polish authorities said Thursday.

Military to Cut to 1 Million Soldiers by 2012

The Associated Press
Russia plans to trim its armed forces by more than 10 percent by 2012, with radical cuts among the officer ranks, Defense Minister Anatoly Serdyukov said.
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