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Canada’s inflation rate cools
OTTAWA: Canada’s annual inflation rate cooled more than expected in May, moving it further away from the Bank of Canada’s target and reducing the odds of an interest rate hike next month. The annual inflation rate declined to 1.3 per cent from April’s 1.6 per cent, Statistics Canada said, the lowest level since November 2016 and below forecasts for 1.5 per cent. The three measures of core inflation the Bank of Canada set last
 
 
Daiwa chooses Frankfurt for EU base after Brexit
FRANKFURT: Daiwa Securities Group will set up a subsidiary in Frankfurt, Japan’s No. 2 brokerage said, making it one of the first banks to publicly chose Germany to keep a foothold in the European Union (EU) after Britain leaves the bloc (Brexit). The announcement, which comes as several other banks prepare a similar move, shows financial groups are pressing on with plans to relocate part of their businesses, regardless of the
   
Blue Apron launches roadshow for IPO
NEW YORK: Blue Apron Holdings began roadshow for an initial public offering (IPO), as an already competitive meal-kit industry faces a potential threat from Amazon.com’s deal to buy Whole Foods Market. Blue Apron’s up to $510 million IPO will test whether the growth seen by the meal-kit industry’s greatest players will continue to whet investor appetite, even as costs to acquire new customers mount and possible new competitors
 
 
Zur Rose to raise $237m by initial share sale
ZURICH: Online pharmacy Zur Rose Group aims to raise up to 230 million Swiss francs ($237 million) through an initial share sale, the company said, to help it expand in Germany, open new shops and possibly make acquisitions. The initial public offering (IPO) will be priced in range of 120 francs to 140 francs per share, valuing the company founded by Swiss doctors in 1993 at between 780 million francs and 870 million francs, Zur
   
Thailand central bank vigilant on baht currency
BANGKOK: Thailand’s strong baht currency, now hovering near two-year highs against the dollar, has not hit tourism and has had only limited impact on exports, a Bank of Thailand official said. The baht is still moving in line with Thailand’s economic fundamentals and regional currencies, assistant governor Vachira Arromdee, who leads the central bank’s financial markets operations group, said in an interview. The central bank
 
 
Danone wants to play central role in global food industry revolution
PARIS: Emmanuel Faber, Chief Executive Officer of Danone, wants the world’s biggest yoghurt maker to play a central role in the revolution sweeping the global food industry as it tries to respond to consumer demands for healthier eating. As more consumers, notably the ‘Millennial’ generation, opt for healthier diets and a more socially responsible way of life, Danone, along with rivals such as Nestle, have been seeking to
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