Business Digest

YGM buys struggling Aquascutum for HK$188m

YGM Trading will buy out British trenchcoat maker Aquascutum for ?15 million (HK$188 million). The century-old brand, which dressed Winston Churchill and Queen Elizabeth, last month shut its Northamptonshire factory and laid off more than 100 staff. YGM shares resume trading today. Charlotte So

Galaxy more than triples profit in first quarter

Macau casino giant Galaxy Entertainment reported its first-quarter profit more than tripled. Adjusted earnings before interest, taxes, depreciation and amortization, rose to HK$2.15 billion, up from HK$712 million a year earlier. Revenue rose 130 per cent to HK$13.2 billion. Sophie Yu

ICAC seeks help from Loudong chief executive

Hong Kong-listed investment holding group Loudong General Nice Resources (China) reported yesterday its chief executive, Lau Yu, had been asked to assist the Independent Commission Against Corruption in its investigation into matters that it said did not involve the company. Trading in the company's shares was suspended yesterday but could be reinstated today. Charlotte so

Yanzhou Coal Mining 'not in talks for Vale stake'

Yanzhou Coal Mining was not in talks to buy Brazilian mining giant Vale's stake in the Integra coal mine in the Australian state New South Wales, a spokesman said. Eric Ng