Correspondent, New York
Megan's Feed
Mar 20, 2012

Polyus will not take key step for FTSE bid

MOSCOW, March 20 (Reuters) – Russian gold miner Polyus Gold
, part controlled by tycoon Mikhail Prokhorov, said on
Tuesday it was withdrawing its application to create a new
parent company, considered necessary for it to gain inclusion
into the prestigious FTSE 100 index.

Without the FTSE inclusion and redomicile from its current
Jersey home, the company could still go ahead with plans for a
share sale worth several hundred million dollars, analysts and
two sources familiar with the matter said.

Mar 19, 2012

RUSAL takes 881.6 million pounds writedown on Norilsk stake

HONG KONG/MOSCOW (Reuters) – RUSAL (0486.HK: Quote, Profile, Research), the world’s top aluminium maker, took a $1.4 billion (881.6 million pounds) hit in its 2011 financials on Monday on the value of its stake in Norilsk Nickel (GMKN.MM: Quote, Profile, Research), whose fate is at the centre of a row between two Russian billionaire shareholders.

The writedown, and a qualified opinion by RUSAL’s auditor on the valuation of its stake in the Arctic miner, are likely to add to friction between RUSAL’s CEO and main owner Oleg Deripaska and disgruntled minority investors led by Viktor Vekselberg.

Mar 19, 2012

RUSAL takes $1.4 billion writedown on Norilsk stake

HONG KONG/MOSCOW (Reuters) – RUSAL (0486.HK: Quote, Profile, Research, Stock Buzz), the world’s top aluminum maker, took a $1.4 billion hit in its 2011 financials on Monday on the value of its stake in Norilsk Nickel (GMKN.MM: Quote, Profile, Research, Stock Buzz), whose fate is at the centre of a row between two Russian billionaire shareholders.

The writedown, and a qualified opinion by RUSAL’s auditor on the valuation of its stake in the Arctic miner, are likely to add to friction between RUSAL’s CEO and main owner Oleg Deripaska and disgruntled minority investors led by Viktor Vekselberg.

Mar 15, 2012

RUSAL to pick chairman under oligarch crossfire

MOSCOW, March 16 (Reuters) – RUSAL Plc, the
world’s largest aluminium company, is expected to pick a new
chairman on Friday to steady a ship still rocking from the
parting shot fired by Viktor Vekselberg, who said it was in
“deep crisis”.

Vekselberg quit as chairman on Tuesday, blaming management
for overburdening the Russian company with debt.

Mar 14, 2012

Russia’s Vekselberg may sue RUSAL in oligarch row

MOSCOW (Reuters) – Russian billionaire Viktor Vekselberg is considering suing RUSAL 0486.MM over accusations that he failed to fulfill his duties as its chairman, intensifying a battle with rival oligarch Oleg Deripaska at the world’s largest aluminum producer.

A lawsuit between two of Russia’s richest men would risk becoming a spectacle to rival a legal battle between two other oligarchs, Boris Berezovsky and Roman Abramovich, which gave an unflattering insight into the Russian business world. It could also be deeply embarrassing for RUSAL.

Mar 13, 2012

RUSAL chairman quits in Russian oligarch fight

MOSCOW (Reuters) – Russian billionaire Viktor Vekselberg quit on Tuesday as chairman of UC RUSAL (0486.HK: Quote, Profile, Research, Stock Buzz), the world’s largest aluminium producer, saying the heavily indebted company was in deep crisis after a long battle with rival oligarch Oleg Deripaska.

Vekselberg’s exit widens a rift with controlling shareholder Deripaska, who had sought to build a Russian metals and mining business on a global scale by merging RUSAL with Norilsk Nickel (GMKN.MM: Quote, Profile, Research, Stock Buzz), the world’s top nickel and palladium miner.

Mar 13, 2012

Aluminum giant RUSAL’s chairman quits, cites “deep crisis”

MOSCOW (Reuters) – Russian billionaire Viktor Vekselberg quit on Tuesday as chairman of the world’s largest aluminum producer, UC RUSAL (0486.HK: Quote, Profile, Research, Stock Buzz), saying the heavily indebted company was in deep crisis after a long battle with rival oligarch Oleg Deripaska.

Vekselberg’s exit widens a rift with controlling shareholder Deripaska, who had sought to build a Russian metals and mining business on a global scale by merging RUSAL with Norilsk Nickel (GMKN.MM: Quote, Profile, Research, Stock Buzz), the world’s top nickel and palladium miner.

Mar 6, 2012

Rusnano, US fund to invest $760 mln in pharma venture

MOSCOW March 6 (Reuters) – Russian state technology
firm Rusnano is teaming up with a U.S. venture fund to invest
around $760 million in a number of U.S. healthcare and
pharmaceuticals firms, establish a manufacturing facility in
Russia and bring new drugs to the Russian market.

As part of the deal, Rusnano and life sciences technologies
investor Domain Associates are planning to each invest $330
million in about 20 US-based healthcare technology companies.

Feb 27, 2012

Anti-Putin protesters form human chain in Moscow

MOSCOW (Reuters) – Thousands of Russians joined hands to form a human chain around Moscow city centre on Sunday in protest against Vladimir Putin’s likely return as president in an election next week.

The protesters stood side by side around the wide 16-km (10-mile) Moscow Garden Ring Road in gently falling snow, many of them wearing the white ribbons that symbolize the biggest opposition protests since Putin rose to power 12 years ago.

Feb 26, 2012

Thousands of Russians hold hands against Putin

MOSCOW (Reuters) – Thousands of Russians joined hands to form a ring around Moscow city centre on Sunday in protest against Vladimir Putin’s likely return as president in an election next week.

Many of the protesters who stood in a long line around the 16-km (10-mile) Moscow Garden Ring Road, despite gently falling snow, wore the white ribbons that symbolize the biggest opposition protests since Putin rose to power 12 years ago.