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Brickmaker says planning delays have reduced brick demand: A planning logjam has contributed to weakened demand for bricks for housebuilding in the last few months, according to Michelmersh Brick Holdings, the largest maker of specialist bricks

First-time buyer demand boosts house prices to record highs: Rightmove says that asking prices hit a new record high in October. Average asking prices rose to £296,549 in October, 5.6% higher than they were a year ago. Especially strong demand from first-time buyers has seen the price of properties bought by those getting on the housing ladder jump by close to 10% in the period

Act now to dodge another boom and bust property catastrophe, Bank of England warns: The terrible damage wrought on property investors and the construction market could be avoided in future if the commercial property sector properly understood the business cycle, rather than getting caught up in exuberance every time, according to top Bank of England official Alex Brazier

Buy-to-let crackdown ‘will raise rents’: Plans to cut tax relief for buy-to-let investors will push up rents and harm tenants more than landlords, mortgage lenders are warning. In July, George Osborne unexpectedly announced that he would be restricting mortgage interest relief for buy-to-let landlords to the basic rate of tax, 20%, in a move to be phased in over four years from 2017.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.25% or $0.12 higher at $48.73 per barrel, ahead of the American Petroleum Institute weekly oil inventory data scheduled for released later today. Yesterday, the contract declined 3.67% or $1.85, to settle at $48.61 per barrel, after China’s GDP growth figures raised concerns over demand for oil from the nation.

U.K. infrastructure is lagging behind on global value rankings: The U.K. is falling behind in global rankings on its infrastructure, according to research published. The value of Britain’s built environment – its buildings and infrastructure – is currently £3.1 trillion, the research from Arcadis, a consultancy, and the Centre for Economics and Business Research said. The U.K. ranks 13th against a host of other economic powerhouses, but has slipped two places since 2013 and lags behind every other G7 country except for Canada

London house prices up by 10% in October and first-time buyers bear the brunt - Rightmove: London house prices are 9.8% higher than they were in October 2014, data released by online property market Rightmove reveals

Housing stocks may benefit from new data - New York Report: Housing stocks could be in for a boost if September data due out next week confirms strength that market watchers expect

Oil firms urged to tap into £20 billion reservoir: Oil and gas firms in the U.K. can dive into a £20 billion reservoir by tightening up on their working capital, new research has suggested

Japan Tobacco buys Iranian cigarette maker to boost dominance: Japan Tobacco International has bought an Iranian cigarette maker in an attempt to reinforce its position as the market leader in a country which hopes to open up to western companies once international sanctions over its nuclear programme are removed

Oil explorers predict 10,000 more job losses in the North Sea sector: Two of the biggest independent oil explorers in the North Sea have predicted a further 10,000 jobs will be lost from the sector, indicating a growing acceptance that oil prices are struck in a prolonged slump

First-timers and landlords force up prices: A battle between first-time buyers and buy-to-let landlords for the same type of home has forced the asking price of properties with a maximum of two bedrooms in England and Wales to a record high.

Stamp duty slices the price of luxury London homes: The price of prime property in the centre of London is expected to be down by 2% this year because of the changes in stamp duty, according to a leading estate agency.

UK Rightmove house price index recorded a rise in October The Rightmove house price index advanced 5.60% on an annual basis, in October, in the UK. In the prior month, the Rightmove house price index had climbed 6.40%. UK Rightmove house price index advanced in October In the UK, the Rightmove house price index climbed 0.60% in October on a MoM basis. In the previous month, the Rightmove house price index had climbed 0.90%.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.24% or $0.12 lower at $50.34 per barrel. On Friday, the contract climbed 3.59% or $1.75, to settle at $50.46 per barrel, after Baker Hughes reported that the active US oil rigs dropped by 10 to 595 in the last week.

Harrods on a £146 million high as it increases space devoted to 'luxury boutiques': Iconic London department store Harrods made record sales and profit as it brushed aside a faltering global economy and secured closer ties with luxury brands.

Arctic offshore drilling to be cut back as U.S. says it will not issue new leases: U.S. decision to cancel future lease sales follows decision by Royal Dutch Shell to stop exploration in Chukchi and Beaufort seas. The Interior Department announced it is cancelling future lease sales and will not extended current leases in Arctic waters off Alaska's northern coast, a decision that significantly reduces the chances for future Arctic offshore drilling

Oil nations feel the strain of  Opec’s continuing price war: Almost a year ago Rafael Ramirez, Venezuela’s long-serving former oil Minister, emerged from a tense meeting of the Organisation of the Petroleum Exporting Countries (Opec) looking red faced and furious

U.S. puts a plug on Arctic oil exploration: The U.S. government has put a final block on the prospect of oil exploration in the country’s Arctic in the foreseeable future, cancelling plans to sell more drilling leases in the region, and refusing to extend leases previously sold to Royal Dutch Shell and Statoil

BP to strengthen China ties: BP is to strengthen its links with China’s CNPC, the country’s state-owned oil group, under an agreement that could see them jointly develop new projects in China and elsewhere.