Q&A with Mikhail Prokhorov

In addition to his media ventures, which includes Snob magazine, Mikhail Prokhorov owns the New Jersey (soon to be Brooklyn) Nets basketball team and investment bank Renaissance Capital. It’s been reported that he is also working on mass producing an affordable hybrid-powered car in his native Russia.

China cranks up the innovation machine

If you visited the World Expo 2010 in Shanghai you’ll know that the whole experience was one of those „only in China” gobsmacking superlatives. More than 60 million — 60 million — people visited the largest Expo site ever, with a one-day record on Sept. 23 of more than 631,000.

Major changes in store for IMF

Officials at the Group of 20 nations summit in South Korea have agreed on substantial changes for the International Monetary Fund, according to IMF Managing Director, Dominique Strauss-Kahn. If approved, the historic reforms would give developing nations a stronger voice within the institution.

BP to base bonuses on safety

In his latest attempt to change the culture at BP in wake of the Gulf of Mexico oil spill, new chief executive Bob Dudley told staff in an e-mail this week that their next bonuses will be based solely on how they meet safety guidelines.