In 2023, the Belgian newspaper Dernière Heure revealed that the ride-hailing platform Uber charges different prices to users based on their phone’s battery level.[1] Specifically, for the same trip, if your phone has 84% battery remaining, Uber charges 16.6 euros; but if you only have 12% battery left, the price rises to 17.56 euros. The logic behind this pricing is obvious: if your phone is about to run out of battery, you’re probably in no position to wait, and have no choice but to accept Uber’s higher price

With its signature jagged-teeth smile and “ugly cute” look, Labubu has quickly turned into a cultural symbol, offering solace to city dwellers. In 2024, the IP of the Monsters series, including Labubu, registered sales of RMB3.041 billion, skyrocketing by 726.6% year on year to become Pop Mart’s most commercially valuable IP (see Note 1). The explosive growth of this creature in the global trendy toys market not only demonstrates the globalization potential of China’s original IP, but also underscores Hong Kong’s unique empowering role as an international platform.

Abstract Artificial intelligence research focuses on machine reasoning and knowledge-based problem-solving. Yet, Einstein observed that knowledge stagnates without human imagination. “Imagination,” he said, “is more important than knowledge. Knowledge is limited. Imagination encircles the world.” In this study, we examined whether machines can have the potential to improve innovation. We employed the validated Divergent Association […]

Environmental, social, and governance (ESG) considerations have gained increasing significance in investment decision-making processes. Despite this heightened importance, investors often express concerns regarding the sufficiency and quality of firm-level ESG disclosures, which are crucial for making informed investment decisions. In response, several countries have implemented mandatory ESG disclosure regulations aimed at compelling firms to provide high-quality information on ESG-related issues. These regulations may require disclosures either alongside traditional financial reporting or through specialised standalone reports.

This study utilizes the administrative data of an innovation grant program in a major emerging economy to study which firms are best positioned to capture the state and access resources beyond what their rule-complying merits command. We trace the grant allocation process and directly observe occurrences of rule-violating funding. We show that firms vary in their capability to secure irregular awards, depending on factors such as geographic proximity and the social and bureaucratic setting within which entrepreneurs and officials interact.

High inflation emerged as a top concern for the U.S. economy in early 2022. While the inflation has come down a great deal, as of 2025 Q2, it remains somewhat above the Federal Reserve’s (the Fed) 2 percent longer-run objective. While the FOMC has been carrying out policies aiming at bringing inflation back down to its 2% target over the long run, headwinds caused by the new administrative change and global events (e.g., Israel Iran Conflict) have introduced new uncertainties into economic outlooks and policy calibration. This article is to give a brief summary of the 2025 Q2 U.S. economic

This study examines the impact of Singapore’s Home Office Scheme, a policy reform aimed at reducing barriers to home-based entrepreneurship by easing zoning restrictions. The scheme let entrepreneurs operate from their residences, offering financial and nonfinancial incentives that facilitated business creation, especially among low-income and female entrepreneurs. The study explores how the reform influenced firm entry, survival, and serial entrepreneurship, and its implications for regulatory policies supporting small-scale and home-based businesses in other jurisdictions.

In this study, the researchers conducted a comprehensive assessment of the rent reduction program widely implemented in China during the COVID-19 pandemic. Using a unique and large database with detailed bill-level information on nearly 20,000 restaurants, the researchers derived details regarding the restaurants’ operational decisions and performance.