Top business news

Wet weather harms Aust gold production
Wet weather contributed to a seven per cent fall in Australian gold production to 69 tonnes in the March quarter, Surbiton survey says
ECB chief calls for government reforms now
Growing structural differences are dangerous for the monetary union, according to European Central Bank President Mario Draghi.
State of emergency in Peru over mine clash
A man has been killed in protests against a copper mine in Peru's south, prompting the government to declare a state of emergency in the region.
Yellen expects US rate hike this year
Interest rates are expected to be raised 'at some point' in the United States, according to Federal Reserve chair Janet Yellen.
EU outlook 'brighter than for 7 years'
The outlook for the eurozone is "brighter than for seven years", the European Central Bank president says.
Luxury giant Richemont sees profit plunge
Luxury goods giant Richemont says its annual net profit has plunged by more than a third, to 1.3 billion euros.
Bank of Japan holds fire on stimulus
Bank of Japan has held fire on more stimulus measures on the back of upbeat GDP data, with its governor saying the economy is "steadily improving".
US existing-home sales slow in April
US existing-home sales have slowed, although remain at a stronger pace than a year ago.
Average US rate on 30-year mortgage slips
Mortgage giant Freddie Mac says the average rate on a 30-year fixed-rate mortgage in the US ticked down to 3.84 per cent this week.
China-backed bank to operate by year end
The China-backed Asian Infrastructure Investment Bank will be operational by the end of 2015, the bank's secretariat says.