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Report: Russia's AvtoVAZ finally turns a profit after many years

During the first quarter of 2010, Russian automaker Avtovaz lost 2.6 billion rubles ($85M U.S.). In the second quarter it made almost a third of that back when it posted a net profit of one billion rubles ($32.7M U.S). The spike came courtesy of Russia's cash-for-clunkers program, which more than doubled the firm's sales over Q1 numbers to 149,100 cars.

Renault F1: Sponsored by... Lada!

Renault R30 F1 car – click above for high-res image gallery

REPORT: Renault and Russia come to agreement on AvtoVAZ

Renault has found a way to appease Russian Prime Minister Vladimir Putin that didn't involve writing a check for $850 million. The French company took a 25% stake in Russian carmaker Avtovaz, and when Avtovaz started having a hard time of it earlier this year Renault looked content to see how things turned out. Putin wasn't: he told Carlos Ghosn to inject cash into Avtovaz, or Putin woul

Russian PM Putin reportedly tells Renault to put up or get out

It seemed like a good idea at the time, but with hindsight being 20-20, how many failed ventures can be summed up by that same excuse? Just last year, Russia was looking to foreign investors as one of the most promising emerging markets in the world. Renault got locked into a bidding war with Fiat and General Motors for a large stake in Autovaz, Russia's largest automaker, known to consumers for producing Lada.

Putin Power: Even Russian automakers to get a bailout?

Lada C Concept - Click above for a high-res gallery

President Putin fixes Russia's traffic congestion, for about an hour

Here's one way to clear traffic jams – become the Russian President. The above picture shows you how a typical Moscow street looks at pretty much any time of day. It's bumper-to-bumper traffic as far as the eye can see. But to paraphrase Mel Brooks in History of the World, Part I,