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Summer Budget: Mortgage subsidy shake-up hits jobless households: Mortgage subsidies are set to be recouped from the homes of unemployed people, in a radical change to the benefit system that lenders’ bodies said could put more pressure on the finances of struggling households.

China stocks: The financial crisis that has wiped $3 trillion off the stock markets: While most recent financial news has focused on the crisis currently facing Greece, another disaster is stirring further east that makes Alexis Tsipras’s problems look like chicken feed.

At 0330GMT today, Brent crude oil one month futures contract is trading 1.1% or $0.63 higher at $57.68 per barrel. Yesterday, the contract climbed 0.35% or $0.20, to settle at $57.05 per barrel after talks between Iran and the west dragged on. However, gains were capped after the Energy Information Administration (EIA) weekly report indicated that US crude stockpiles rose 400,000 barrels for the week ending July 3.

House prices up as surveyors see scarcity Halifax reports June surge while Rics says appraisals at record low

Norwegian targets long haul via UK Plan for UK operating licence could help defuse company’s dispute in the US

Edinburgh testing firm wins North Sea work: Exova, the testing specialist, has been appointed to provide more work in connection with a planned North Sea gas field. Gillespie MacAndrew elects to

Welby fears for Arctic as oil giants move in to drill: The Archbishop of Canterbury has attacked plans by oil companies to begin drilling in the Arctic.

UK industrial production surprisingly advanced in May Industrial production unexpectedly climbed 0.40% on a monthly basis in the UK in May, higher than market expectations for a drop of 0.20%. In the previous month, industrial production had registered a revised rise of 0.30%.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.47% or $0.27 lower at $56.58 per barrel, ahead of the Energy Information Administration weekly oil inventory data, scheduled to be released later today. Yesterday, the contract climbed 0.55% or $0.31, to settle at $56.85 per barrel, as the American Petroleum Institute (API) reported a 958,000 barrels decline in US inventories for the week ending July 3. Moreover, there are fears of an increase in global supplies once the Iranian nuclear pact is signed.

Whilst I am not familiar with the back ground to the reverse takeover by tiger realm into KLG; my desk research indicates Rio Tinto were contemplating buying Beutong for $250m in Autumn 2011 just before the start of bear market in commodities. This asset will need a major mining company to develop it as it will easily need $1-2bn of capital to get it into production in my humble opinion. Turning to funding; given the recent fundraising; I expect the company is fully funded. For this year as a minimum. More importantly; once we see a Resource Upgrade in two stages; late August and early Jan next year; I really believe the share price will be double current levels as an average. ATB

Oil suffers biggest drop in five months Brent falls 6% on lower demand expectations after Greek crisis and Iran deal

Landscape supplier in first half sales jump as building booms: Hard landscaping manufacturer Marshalls had an 11% rise in revenue for the sixth months to 30 June, up to £199 million, the firm said.

Builders hail £100 million fund to finance small firms: Housing industry leaders have welcomed a £100 million initiative aimed at supporting small construction companies that are struggling to access finance.

Bumper U.K. car registrations belie health of sector: Car dealers registered more vehicles between January and June than in any other first-half on record — but the boom may be less impressive than it appears

Bovis Homes banks on more of the same from the Budget: The housebuilder Bovis Homes predicted the Chancellor would continue his support for first-time buyers in Wednesday’s Budget as it reported record sales for the first half of the year

Britons pour money into bricks and mortar: Net housing equity injection by households in the U.K. jumped to a record £13 billion in the first quarter of 2015, up from £12.6 billion in the final three months of last year, according to the Bank of England.

Global pressures put skids under oil price: An oil price slide turned into a full-blown slump as crude buckled under pressure from political and economic concerns worldwide.

At 0330GMT today, Brent crude oil one month futures contract is trading 1.03% or $0.58 higher at $57.12 per barrel, ahead of the American Petroleum Institute weekly oil inventory data, scheduled to be released later today. Yesterday, the contract plunged 6.27% or $3.78, to settle at its lowest price in three months at $56.54 per barrel, as the persistent uncertainty in Greece affected demand for crude oil. Meanwhile, all eyes would be on today’s deadline regarding Iran’s nuclear treaty with the US.

David Shaw to chair Mayfair’s Pollen Estate: Mayfair landlord The Pollen Estate has appointed the head of The Crown Estate’s Regent Street portfolio, David Shaw, as Chairman.

Hi-tech firm defies oil downturn with £4 million expansion: Q-Mass, a high-tech maker of precision equipment for the oil and gas industry worldwide is defying the offshore slump with a £4 million expansion, as it seeks to diversify into the renewables, defence and nuclear power.