Russia's economic turmoil is already spreading to companies in the West and many are bracing for an even bigger blow to earnings. A currency crisis and plunging oil prices have slammed the economy and damaged consumer confidence. If oil prices fail to recover, Russian GDP is expected to shrink by

A funny thing happened on the way to Vladimir Putin running strategic laps around the West. Russia's economy imploded. The latest news is that Russia's central bank raised interest rates from 10.5 to 17 percent at an emergency 1 a.m. meeting in an attempt to stop the ruble, which is down 50 percent

Moscow is going on a huge shopping spree for weapons and military equipment. Russian defense companies boosted sales by more than 20% last year, driven by demand from the country's military, according to new data from the Stockholm International Peace Research Institute. That compares with a 2%

Russia has more problems than low oil prices It's getting ugly in Russia. Forget plunging oil prices or nasty Western sanctions -- apparently the country's central bank is to blame for the crisis now slowly strangling the economy. A senior member of President Vladimir Putin's party has accused the

Russia's president Vladimir Putin is telling investors the economy is in great shape but new growth figures are telling another story. YOU wouldn’t know it from the Chanel boutiques and Maserati dealerships lining the boulevards inside Moscow’s Garden Ring, but economic conditions in Russia are