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Peer cashes in on luxury retail’s new domino effect: The peer responsible for bringing Domino’s Pizza to Britain is selling a property in Mayfair to an entrepreneur for £80 million

Oil minnow turns to new suitor: A small oil company with operations in Lithuania and Oman has spurned the overtures of a Kazakh oligarch and entered exclusive talks with Nostrum Oil & Gas

UK retail sales across all sectors climbed in July Retail sales across all sectors in the UK climbed 1.20% on an annual basis, in July. In the prior month, retail sales across all sectors had registered a rise of 1.80%.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.71% or $0.36 lower at $50.05 per barrel, ahead of the American Petroleum Institute weekly oil inventory data, scheduled to be released later today. Yesterday, the contract climbed 3.7% or $1.80, to settle at $50.41 per barrel, amid a breather in dollar rally and tracking gains in gasoline futures following power outage at a refinery

Household raise savings by 400% in 40 years A shift in the attitude to save over the last 40 years has caused a spike in the amount raised across a combination of deposit savings, pensions and shares, which has grown more than sixfold (452%) in real terms. UK household savings are now an estimated £4.1 trillion, up from £744 billion in 1975, but despite the rise, the data suggested that one in three UK households had no savings at all. Savings deposits per household had only risen slightly over the past 10 years, standing at £48,906 today compared with £46,369 in 2005, however, it is more than double that of 1975 when it was £21,070. The report also highlighted that the market value of pensions savings had increased significantly over the past 40 years, as the average rose from £123bn in 1975 to £1,944bn today, showing the sharp change in the importance of saving towards retirement. "The UK savings market has seen a dramatic shift over the last 40 years, with increased retail competition, the rise of digital banking and a greater emphasis on private pensions and "tax free" savings, " said Philip Robinson, savings director at Lloyds Bank. "Despite witnessing three recessions during the period, in addition to rising levels of consumer spending and borrowing, real household savings have grown annually by an average of over 4% and we would expect this to continue over the next few years."

Chinese insurance giant Anbang nears £750 million Heron Tower deal: The Heron Tower in the City that is part-owned by property tycoon Gerald Ronson could soon change hands after a Chinese insurance giant emerged as a frontrunner to buy the skyscraper for £750 million.

Thinktank urges investment in low-wage sectors to raise U.K. productivity: The government must focus on unloved sectors such as hospitality and retail, if it is to tackle Britain’s lamentable productivity record, according to a new analysis by Thinktank the Institute for Public Policy Research

CRH ready to add to $6.5 billion binge on Lafarge and Holcim assets: Irish building materials group CRH is still on the lookout for more acquisitions even as it prepares to integrate the $6.5 billion in assets it has acquired from Lafarge and Holcim.

Crude price leaves small companies over a barrel: The oil industry is heading for an autumn debt crisis as drillers struggle to refinance loans, amid growing expectations that crude prices are set to stay lower for longer.

Guernsey’s neighbours become more than just good friends: Two of the best-known names in financial services are strengthening their relationship, with Stephen Lansdown paying £9 million for an 18% stake in Andy Stewart’s Channel Islands stockbroking and investment management business

No hedging as funds bet on recovery in oil price: Hedge funds have raised their bets on a rebound in oil prices for the first time in seven weeks, despite fears of a deepening global supply glut

Next rung on housing ladder out of reach: Families face unaffordable mortgage increases if they try to move to bigger homes in the same area, a study has warned.

Fracking is poised for an explosive expansion: Britain is set to fire up a big expansion of the fracking industry, handing out dozens of new drilling licences and fast-tracking planning decisions despite intense public opposition to the practice

Brighton rocks as Chinese check in to The Grand: The hotel company that runs the five-star Grand in Brighton has fallen into Chinese hands in a deal estimated to be worth at least £400 million.

L&G pulls the trigger on £1.5 billion investment: Legal & General is close to signing a deal to build 7,000 homes and almost a million square feet of office space on the outskirts of Leeds, pulling the trigger on the Chief Executive’s plan to invest £1.5 billion in infrastructure during the next five years.

UK trade deficit widened in June The UK has posted non-EU trade deficit of £1.62 billion in June, following a revised trade deficit of £1.34 billion in the previous month. Markets were expecting a trade deficit of £2.40 billion. UK visible trade deficit rose in June Visible trade deficit in the UK widened to £9.18 billion in June, compared to a revised visible trade deficit of £8.42 billion in the prior month. Markets were anticipating the nation to record a visible trade deficit of £9.30 billion. UK total trade deficit rose in June Total trade deficit in the UK expanded to £1.60 billion in June, following a revised total trade deficit of £0.88 billion in the prior month. Market expectation was for the country's total trade deficit to expand to £1.70 billion.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.72% or $0.35 lower at $48.26 per barrel. On Friday, the contract declined 1.84% or $0.91, to settle at $48.61 per barrel, after the active oil rigs in the US advanced by 6 to reach 670 last week.

North Sea oil industry struggling on slippery slope: North Sea investment and jobs are suffering as cheap crude continues to flood the market.

Bellway bullish about the future as it hails record year with 13% jump in home sales: Bellway sold a record number of homes last year thanks to low mortgage rates and said that it expected demand to stay strong despite a looming rise in borrowing costs

Expected wage gains of 2.8% to fuel debate on when to raise interest rates: Wages grew by 2.8% in the second quarter compared with the same period last year as the long-awaited recovery in earnings continued.