CME Group Inc. is promoting the soundness of futures markets to build on growth in contracts linked to the Brazilian and Russian currencies, according to a senior executive with the exchange company. Get the full story »
Inside these posts: Russia
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China, Russia drive growth in world’s billionaires
Carlos Slim. (Mohamed Azakir/Reuters)
Rising global commodities prices and Asia’s economic boom led to a big increase in the number of billionaires in Russia, China and Brazil in 2011.
China nearly doubled its number of billionaires to 115, while Russia and Brazil posted two-third jumps to 101 and 30, respectively, Forbes said in its annual list of the world’s richest people.
It was the first time any country outside the United States, which has 413 billionaires, had more than 100. Moscow is now home to the most people on the list with 79 billionaires, easily outstripping New York, which has just 58. The world’s richest man, Mexican tycoon Carlos Slim, retained his crown for the second year in a row and made more money than any of the other 1,209 billionaires in the past year: $20.5 billion, taking his fortune to $74 billion. Get the full story »
March 10 at 7:30 a.m.
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Filed under: Agriculture/Farming, Construction, International, Manufacturing Deere & Co. to double size of Russian factory
A John Deere combine being worked on in Hampshire, Ill. Moline-based Deere hopes to expand its product line in Russia. (Photo by Scott Olson/Getty Images)
Moline, Ill.-based Deere & Co. will double the manufacturing space at a factory near Moscow and start its own leasing company in Russia, the world’s largest maker of agricultural equipment said Thursday.
The announcement was made as Deere Chairman and CEO Samuel Allen joined other CEOs and Vice President Joe Biden at an investment conference in Russia.
The investment at the Domodedovo factory will help the company expand its product line in Russia, adding new equipment such as log forwarders, which load and haul logs and are widely used in the Russian forestry industry, Deere said in a statement. Get the full story »
McDonald’s pledges more investment in Russia
McDonald’s Corp. plans to boost investment into expansion of its Russian business this year to increase its foothold in the growing fast food restaurant market amid still sluggish competition. Get the full story »
Russian oil tycoon Khodorkovsky found guilty again
A Russian judge pronounced Mikhail Khodorkovsky and his business partner Platon Lebedev guilty of embezzlement on Monday at the end of the jailed former oil tycoon’s politically charged second trial. Get the full story »
Russian potash miner Uralkali to buy Silvinit
A Russian billionaire set the terms on Monday for a merger of Russia’s top two producers of potash, Uralkali and Silvinit to create the world’s No. 2 player.
The deal marks another step in consolidation in the global potash business, where a battle for dominance spurred BHP Billiton’s attempt to take over Potash Corp., which ultimately failed. Get the full story »
Deal makes PepsiCo largest food co. in Russia
PepsiCo Inc. is buying a majority stake in Russian company Wimm-Bill-Dann Foods for $3.8 billion. The move will make PepsiCo the biggest Russian food and beverage company and broaden its presence in Eastern Europe and Central Asia. Get the full story »
Putin: Russia seeks 2011 WTO entry
Russian Prime Minister Vladimir Putin and German Chancellor Angela Merkel in Berlin on Nov. 26, 2010. (John MacDougall/AFP/Getty Images)
Russia may be able to join the World Trade Organization as soon as next year, completing over a decade and a half of membership negotiations, Prime Minister Vladimir Putin said on Friday.
“Regarding our possible accession to the WTO in 2011, I think this is possible, and we would like this to happen,” he said at a joint press conference with Chancellor Angela Merkel. Get the full story »
Nov. 3, 2010 at 10:53 a.m.
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Filed under: Agriculture/Farming, Food, International, Trade U.S. chicken industry seeks answers on Russia ban
(David Pierini/Chicago Tribune)
The U.S. chicken industry, which in September resumed shipping meat to Russia, has contacted the U.S. embassy in Moscow in an attempt to learn if Russia intends to stop such imports beginning Jan. 1.
The head of Russia’s consumer protection watchdog on Wednesday told Reuters in Moscow the country will ban sales and processing of deep-frozen poultry meat from Jan. 1, both domestic and imported, because freezing hurts the quality of the meat. Get the full story »
Russian company plans to bid for Potash
Russian fertilizer company Phosagro plans to bid for Potash Corp, according to a media report, rivalling BHP Billiton’s $39 billion offer awaiting a crucial ruling from the Canadian government. Phosagro Chairman Vladimir Litvinenko has asked Russian Prime Minister Vladimir Putin to approve a potential deal and request financing from Russian banks, Russian business daily Vedomosti reported on Wednesday. Get the full story »
Russia, CME talk about regional wheat market
Russia is exploring the creation of a regional wheat futures market and this month held talks with senior executives at CME Group Inc., according to a senior official at the Chicago-based exchange operator.
The planned venture would add another global platform for trading alongside Chicago and Paris, serving the fast-growing “bread basket” of Russia, Ukraine and Kazakhstan, which has become an increasingly important source of European food imports. Get the full story »
Bank investor group seeks to cater to Russian, Eastern European Jews locally
A group of investors wants to invest about $10 million into Maywood-based First Suburban National Bank, and if it’s successful it wants to cater to Russian and Eastern European Jewish customers in the area, according to documents filed with the Federal Reserve. Get the full story »
Bribery probe widens over HP contract in Russia
A bribery investigation into a Hewlett-Packard Co. government contract in Russia has broadened to include more deals dating back to 2000.
In a statement Friday, HP said it is cooperating with authorities, “who have now expanded their investigations beyond” a transaction with the Russian prosecutor’s office. Get the full story »
Wheat prices surge as weather hurts crops
Wheat prices surged Thursday after the U.S. government lowered its expectations for global wheat production as a devastating drought continues to erode Russia’s crop and that nation’s export ban remains in effect.
The Agriculture Department’s revised global forecast calls for 2010-2011 production of 645.7 million metric tons of wheat, which is 2.3 percent less than it had estimated in July. Get the full story »
