Reuters examines the pressure on car factory workers as the industry suffers and pay is slashed; the possibility of mass discontent is a 'real risk'.  Vladimir Putin has reportedly announced that 'Canadian-Austrian company Magna asked Russian financial institutions and GAZ to make a proposal to Opel', whilst Gaz and Sberbank had previously denied any such involvement.  Bad assets are apparently preventing Russia from restarting lending, which may prolong the recession.  VEB has changed its loan rules and will require banks to lend the money they borrow to priority industries as the government battles to keep certain sectors afloat.  Mechel has finalized an agreement to buy the American coal producer Bluestone Coal for $436 million.  Vladimir Lisin's Novolipetsk Steel has recommenced production at its remaining idle blast furnace, following a major upgrade.  The Financial Times has an analysis ...

The Russian Finance Ministry says that all of the major tax breaks have been introduced and there will be 'no sensations' in tax proposals over the next three years.  Rusal claims to have cut costs by $554 million in the first quarter, but workers suggest this is affecting safety and efficiency.  According to Ria Novosti, Rusal has seen a decrease in its primary aluminum output by 7.2% year-on-year in January-March.  Alfa Bank has restructured 5% of its loan portfolio, according to Reuters the figure stands at 15%.  Magnitogorsk Iron & Steel Works has agreed to restructure car maker Avtovaz's outstanding debt in a long term cooperation agreement.  Vladimir Yevtushenkov's Sistema is apparently hoping to bid for control of telecoms giant Svyazinvest.  Sberbank issued 16.5 billion rubles in mortgage loans in the first quarter.  The ...