Bloomberg Canadian inflation quickened in May on increases across the board, giving the Bank of Canada plenty of scope to hold interest rates steady. The consumer price index jumped 2.4 percent from a year earlier, compared with 2 percent in April and versus a median economist forecast of 2.1 percent, Statistics Canada said from Ottawa. It was the highest annual …

Bloomberg Online-only bank Monzo has closed a new funding round doubling the startup’s valuation to more than $2.5 billion, making it one of the UK’s most highly valued fintech companies. Monzo last raised funding late last year at a valuation of $1.25 billion. In this new round, the company will bring in 113 million pounds ($143 million) of fresh capital, …

Bloomberg Delivering cargo to the farthest reaches of the world’s biggest archipelago has forever been a challenge. Indonesia’s biggest airline sees a solution in drones. PT Garuda Indonesia plans to use 100 unmanned aerial vehicles procured from China’s Beihang UAS Technology to ship goods across the nation’s more than 18,000 islands, Director for Cargo and Business Development Mohammad Iqbal said, …