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

1. SingTel reshuffles management team in Singapore and Australia. Mr Paul O'Sullivan, currently chief executive officer (CEO) for SingTel's group consumer division and country chief officer for Australia, will move to be chairman of Optus, SingTel's Australian subsidiary.

2. Singapore's GIC, others invest $885m in XPO Logistics. GIC itself is investing US$250 million and will have a 7.5 per cent stake, a person familiar with the matter said.

3. Viva Industrial Trust agrees to buy two buildings for $115.5m. It is proposing to pay $80 million for Jackson Square in Lorong 3 Toa Payoh and $31.5 million for Jackson Design Hub in Tai Seng Street, according to a filing to the Singapore Exchange on Friday.