For 13 years Holmström sat on the board of Finland's Nokia, once the world's top mobile phone maker. But Nokia failed to appreciate the disruptive significance of the smartphone revolution and was too focused on short-term success.
Together with Oliver Hart, Bengt Holmström receives this year's Nobel economics prize for research on the theory of contracts. We met him to talk about his findings and their importance for the business world.
A new study has highlighted well-documented problems in the German health care system - doctors have a huge financial incentive to offer unnecessary treatments, and hospitals remain under intense financial pressure.
The German government is offering buyers up to 4,000 euros to buy an electric car as part of a scheme to subsidize electromobility. But critics on both sides have their doubts about the new incentive. Ben Knight reports.
Germany's government parties have offered parents new bonuses ahead of September's election, including free kindergartens and buggy cash. Opposition parties are wondering: what have you been doing for four years?
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