1. While oil prices skyrocketed, Russia was flooded with cash. But with sinking prices and the economic crisis, hopes are diminishing and tensions are rising in this recently robust industrial city that finds itself grinding to a halt.A Russian City Goes from Boom to Gloom

2.Can 1,000 professors be wrong? That’s how many were asked for their estimate of the equity premium in a January survey by Pablo Fernández, a professor at the University of Navarra in Spain.On expected stock returns

3. Australia will close the gate on thousands of foreign workers this year to protect the nation’s jobs.Australian jobs protected by freeze on foreign workers

4. Latest figures from China suggest great strength in demand for copper, iron ore and steel in particular, but bankers Macquarie’s research suggests that all may not be as it seems. Strong copper, steel and iron ore data from China – are they sustainable? – Macquarie

5. Escalating cost of jet fuel in 2008 pushed up ticket prices while recession delivered a further blow to the air travel market. Air passengers fall for first time in 17 years

6. Diversion:

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