Bizview: Today's top business news

CVC, GIC buy Carlyle stake in U.K. roadside assistance firm RAC

CVC Capital Partners and Singapore's sovereign wealth fund GIC Pte agreed to buy Carlyle Group LP's stake in British roadside assistance company RAC. CVC and GIC plan to invest in RAC's technology, data and telematics platform and see a "significant long-term growth opportunity," according to an e-mailed statement on Wednesday.

Suspended China Hongcheng Holdings answers SGX queries on incomplete records

Financially ailing China Hongcheng Holdings has responded to queries from the Singapore Exchange (SGX) over observations highlighted by its auditors such as incomplete accounting records held by the firm. China Hongcheng said internal control weaknesses had mainly arisen from human errors and the complexity of product categories.

Employees want more leave days, but bosses don't think so: Robert Half Survey

Apart from a larger pay cheque, what is the one thing you really want from your boss? More holidays and leave days topped the list when this question was posed to 500 employees here. The survey by recruitment firm Robert Half Singapore found 36 per cent of workers put more annual leave at the top of their wish list, followed by more flexible hours (32 per cent) and professional development opportunities (20 per cent).

Singapore adults most financially literate in Asia: survey

Singapore has the highest percentage of financially literate adults in Asia, a continent where 73 per cent of adults do not adequately understand key monetary ideas, a new study has found. As many as two-thirds of adults in the world are financially illiterate, according to a survey by ratings agency Standard & Poor's.

Level playing field vital for e-commerce businesses, says CCS chief

A "level playing field" in the e-commerce space is vital for businesses looking to expand in Singapore or overseas, said Mr Toh Han Li, chief executive of Competition Commission of Singapore (CCS). This is necessary as anti-competition practices in the online or offline market may "stifle innovation and the entry and expansion of new businesses".

Luxury tax on Indonesian property now based on value, not size

Indonesia has changed the way it applies luxury tax to certain apartments and houses, by basing it on value instead of size, in a move that may clear up uncertainty plaguing the property sector. A house with a sale price of 20 billion rupiah (S$2.04 million) or above is now subject to 20 per cent luxury tax, according to a new ministerial decree.

Yahoo board to discuss sale of web business, WSJ reports

Yahoo! Inc.'s board will consider a potential sale of the company's main Internet businesses in a series of meetings starting Wednesday, the Wall Street Journal reported, citing people familiar with the matter.