Morning business news round-up for June 12, 2014

SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.

1. Asian shares slip as Wall Street's record streak ends. While there was a certain amount of profit-taking, analysts suggested some of the losses could be attributed to the World Bank's decision to trim its 2014 global growth forecast to 2.8 per cent from a January estimate of 3.2 per cent.

2. Ascott awards first franchise agreements, in Vientiane and Bali. Ascott, which is wholly owned by CapitaLand, said the franchise agreements mark a new milestone for the company and will help drive its growth in the future.

3. Genting exercises option to buy 10.75m shares in Linc Energy. Genting has been raising its stake in Linc since the energy company was listed in December last year.