Corruption, tax evasion, and financial machinations often seem to be par for the course for managers, bankers and corporate executives nowadays. But ethical business practices and profits aren’t mutually exclusive. Made in Germany visits a businessman who is a member of a Hamburg organization promoting ethical practices.
He's honest and trustworthy, takes responsibility for his company and his workers, acts in good conscience, and his word is his bond - that's the model of the honest businessman. But in today’s business world, these values are often in short supply.
Report by Claudia Laszczak.
Money laundering, tax evasion and manipulating interest rates: around the globe, authorities are taking action against banks. Major players like HSBC and UBS have been ordered to pay billions in penalties. Germany's Deutsche Bank is being investigated for tax evasion. Pictures of police officers searching its Frankfurt headquarters have been disastrous for the bank's image.
Report by Kerstin Schweizer.
We speak with Ferdinand Fichtner from the German Institute for Economic Research (DIW Berlin) about the role of banks in the financial system. Are they supporting businesses by providing loans or are they strangling them by refusing to finance capital projects?
Solar energy looks set to have a lucrative future in Morocco, and German company AE Photonics wants to be part of it. In 2010 it founded a subsidiary there. CEO Ali Sedki sells solar-powered pumps to Moroccan farmers.
Germans are rediscovering their love of tiled stoves. In the 1990s many were ripped out in an effort to modernize homes and apartments. But now the stoves are once again in demand. People are installing them not only to beautify their homes, but also as a financial investment. And Germany's tradesmen are profiting, too.
Report by Holger Trzeczak.
