Correspondent, London
Jack's Feed
May 18, 2015

Russian steelmakers risk losing export markets to Chinese rivals

MOSCOW (Reuters) – Russian steelmakers are stepping up exports to compensate for a fall in a domestic demand, but with European and U.S. protectionism fuelling market competition, analysts say they risk losing sales to Chinese rivals.

Exports have become increasingly lucrative for Russian steel producers such as NLMK, Evraz, Severstal and MMK which posted record earnings for 2014, as a weaker rouble lowered costs in dollar-terms and supported profit margins.

May 7, 2015

Parade hiccup as Russia prepares to unveil ‘masterpiece’ tank

MOSCOW (Reuters) – A new high tech battle tank hailed by Russia as a “masterpiece” appeared to break down on Red Square on Thursday during a rehearsal for the military parade at which it will make its long-awaited debut.

The tank’s driver raised a small red flag to show he had problems but managed to drive on about 30 minutes later after an attempt to tow it away was abandoned, a Reuters witness said.

Apr 29, 2015

Russia abandons supply mission to International Space Station

MOSCOW, April 29 (Reuters) – Russia has abandoned a 2.6
billion rouble ($51 million) mission to supply the International
Space Station, the head of the Roscosmos space agency said on
Wednesday, the latest setback for the country’s beleaguered
space programme.

The unmanned Progress M-27M cargo ship, carrying almost 3
tonnes (2,722 kg) of supplies, was unable to dock with the
International Space Station (ISS) because of problems after it
launched from the Baikonur Cosmodrome in Kazakhstan early on
Tuesday, said Roscosmos head Igor Komarov.

Apr 22, 2015

Russia cuts space funding as economic crisis bites

MOSCOW (Reuters) – Russia is cutting spending on its space program by more than a third over the next 10 years because of the country’s economic crisis, forcing it to scrap plans to develop a super-heavy launch rocket.

Space exploration is a subject of national pride in Russia, rooted in the Cold War “space race” with the United States that saw Soviet cosmonaut Yuri Gagarin become the first man in orbit. The collapse of the Soviet Union starved the program of funds, but President Vladimir Putin has nurtured plans for a revival.

Apr 3, 2015

Russian billionaire becomes obstacle to Holcim-Lafarge deal

LONDON/MOSCOW, April 3 (Reuters) – A Russian billionaire
with a reputation for corporate bust-ups is trying to play
spoiler in Holcim and Lafarge’s effort to
create the world’s biggest cement company, only weeks before a
shareholder vote to ratify the merger.

Filaret Galchev, second-largest shareholder in Switzerland’s
Holcim with 10.8 percent, is ramping up the pressure to
renegotiate a better deal.

Mar 19, 2015

Lada maker’s hopes rise as rival flees Russian car market

MOSCOW, March 19 (Reuters) – Russian carmaker Avtovaz
, producer of the much-derided but best-selling Lada,
expects to grab a bigger share of the shrinking domestic market
as its international rivals pull back.

With Russian car sales plunging, U.S. automaker General
Motors Co said on Wednesday it would shut its plant in
the country and wind down its Opel brand in the once-promising
emerging market.

Mar 13, 2015

Russia rejects U.S. concerns over Vietnam base role in bomber flights

MOSCOW/WASHINGTON (Reuters) – Russia on Friday rejected U.S. concerns about its use of a former American base in Vietnam for the refueling of Russian bomber flights around U.S. territory in the Pacific, dismissing recent U.S. statements as “puzzling” and “strange”.

Reuters reported on Wednesday that the United States had asked Vietnam to stop letting Russia use Vietnam’s Cam Ranh Bay for tanker aircraft that have refueled nuclear-capable bombers engaged in shows of strength over the Asia-Pacific region.

Feb 20, 2015

Oil slips toward $60 as oversupply weighs

LONDON (Reuters) – Brent crude oil fell toward $60 a barrel on Friday as oversupply, underlined by record-high U.S. crude stocks, weighed on the market.

U.S. crude inventories rose 7.7 million barrels to 425.6 million barrels last week, rising for a sixth straight week to record highs, data from the Energy Information Administration (EIA) showed on Thursday. <EIA/S>

Feb 20, 2015

Oil falls below $60 as oversupply weighs

LONDON (Reuters) – Brent crude oil fell below $60 a barrel on Friday as oversupply, supported by record-high U.S. crude stocks, weighed on the market.

U.S. crude inventories rose 7.7 million barrels to 425.6 million last week, rising for a sixth straight week to record highs, data from the Energy Information Administration (EIA) showed on Thursday.

Feb 18, 2015

Oil falls towards $61 as rally’s sustainability in question

LONDON (Reuters) – Oil fell more than $1 towards $61 a barrel on Wednesday, failing to build on gains of over 1 percent in the previous session as analysts said a recent rally was overblown.

“The lack of follow-through higher yesterday is a worry and there’s plenty of reason to be neutral here and observe carefully,” PVM Oil Associates director and technical analyst Robin Bieber said.