Catch up on the morning's top business headlines with The Straits Times Money Desk's daily update.
1. Resale transactions of non-landed private homes shot up in March, sending prices slightly higher. But rents fell to their lowest level since December 2011, due to a greater supply of homes for lease.
2. Two Singapore telcos launched schemes for start-ups. SingTel and its Asian associates have set up Innov8 Sparks to help start-ups expand in the region, while StarHub has introduced a crowdfunding platform for new companies to raise awareness about their products.
3. Australian shares jumped to a 5-1/2 year high. Department store operator David Jones rocketed after agreeing to a takeover offer from Woolworths Holdings that valued the company at around A$2.15 billion (S$2.5 billion), triggering a buying frenzy in the retail sector.
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