Three-Minute Digest

Focus falls on rail after bus overhaul

WITH the revamp of the public bus sector announced, focus has shifted to rail, with SMRT shares getting a boost from speculation the government may assume ownership of its rail assets.

Thai army stages coup after six-month political stalemate

THAILAND'S army chief took control of the country and suspended the constitution, in 12th coup since 1932.

China May factory output highest in 5 months: survey

CHINA'S factory sector turned in its best performance in five months in May, a preliminary HSBC survey showed, though overall manufacturing growth still contracted slightly.

BCA plans makeover for building industry

THE BCA is on a charm offensive to remake the built environment sector and lure more women and locals.

SATS fourth-quarter profit slides 7.8%

AIRPORT services provider SATS's net profit slipped 7.8 per cent from a year earlier to $42.6 million for the fourth quarter ended March 31.

GIC eyes Brazil's corporate sector

GIC sees opportunities in Brazil, signalling its long-term commitment with opening a Sao Paolo office.

Manhattan in $1b deal to acquire mining firm Singxin

MANHATTAN Resources has signed a conditional agreement to acquire Singxin Resources for $1 billion through the issue of up to 1.37 billion new shares at 73 cents a piece.

Italian group MZB buys local brand Boncafé for US$85m

COFFEE brand Boncafé is the latest in a string of iconic local brands to be bought over by a foreign company.

M'sia inflation eases in April but banks forecast rate hike

AT least two banks have predicted that Bank Negara will raise interest rates by 50 basis points by the year-end.

Spying charges ratchet up fears for MNCs in China

US ACCUSATIONS of corporate spying by a military unit have raised the stakes on the daily struggle MNCs face to protect intellectual property rights.

No inflation risk in stimulus to spur US job market

FEDERAL Reserve policy makers said continued stimulus to push unemployment lower doesn't risk sparking a jump in the inflation rate.

Schwab, Merrill under money laundering probe

US REGULATORS are investigating Charles Schwab and Bank of America Corp's Merrill Lynch brokerage over whether they are doing enough to learn about their clients' identities.

UK votes but opinion poll reveals a paradox

AS Britain voted in local and European elections, an opinion poll exposed a paradox: Anti-EU UK Independence Party is to win the European vote yet public opinion favours staying in EU.

US airlines beat Asian and European rivals in profitability

THE bankruptcies, mergers and jet fuel shocks that rocked US airlines during the last decade yielded a surprising result: the world's most profitable carriers.