Today in Russian Business – June 7, 2011

Journalists under fire: the publisher of Izvestia, once known as Russia’s New York Times, has suggested that two-thirds of the newspaper’s staff might be laid off as he attempts to rebrand the pro-Putin publication.  Does the fact that the Prime Minister has not proffered a suggestion about how to lower social tax, a Medvedevian initiative, imply a schism in the tandem?  Joe Nocera in the New York Times sees something rather less salubrious behind the decision to pull the Domodedovo airport IPO than simply unfavorable ‘market conditions’.  Professing a love for technology, ex-spy Anna Chapman apparently plans a new career in venture capitalism, in a Kremlin-sponsored attempt to entice foreign investors.    Shari Redstone and two partners have sold Russian movie-theater chain Rising Star Media to Russia’s largest movie theater operator.  Why Wal-Mart has steered clear of Russia, in the Wall Street Journal.  According to the Moscow Times, Altimo, which manages Alfa Group’s telecommunication assets, has sold 123.6 million preferred shares in VimpelCom Ltd. to the Cyprus-based Forrielite, for $100 million.