Top business news

Melb real estate funds gone, office locked
Six Melbourne real estate offices have been locked up while they're investigated over millions of dollars of missing funds held in trust.
Local bidder hopeful in Kidman land battle
A Chinese bid for Australia's largest private land portfolio has been rejected and a local rival says it now has an excellent chance of success.
Facebook faces lawsuit over US stock plan
A shareholder has filed a proposed class action lawsuit against Facebook in a bid to stop the company's issuing new Class C stock.
100,000 German metal workers strike
Nearly 110,000 German industrial workers have joined strikes after a labour union turned down a proposed wage rise of 2.1 per cent.
Rovi buying TiVo in $US1.1b deal
Shares of US digital TV listing company Rovi have surged after it announced it would buy digital video recording company Tivo.
Saudi Binladin cuts 50,000 jobs: report
Saudi Binladin Group, one of the Middle East's biggest construction companies, has reportedly laid off 50,000 foreign workers.
Exxon's 1Q profit plunges 63 per cent
Oil giant Exxon Mobil has reported a plunge in first quarter profit of 63 per cent year-on-year as it struggles to cope with lower prices.
US inflation bolsters Fed caution on rates
US inflation edged up just 0.1 per cent in March, according to fresh data from the Commerce Department.
Nationalised RBS sees loss widen
Royal Bank of Scotland continues to underperform since its 2008 bailout, posting a net loss for the first quarter more than double that of a year earlier.
Italian oil giant Eni swings to 1Q loss
Oil giant Eni lost 792 million euros in the first quarter, with a 20 per cent reduction in capital expenditures for the year.