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North Sea player Tom Cross targets $100 million deal: The Parkmead Group run by Tom Cross is looking at North Sea acquisitions worth up to $100 million (£64 million) weeks after he said the fall in the oil price created opportunities for the firm to make some cheeky offers

North Sea oil and gas firms told to collaborate to ensure the area has a future: North Sea oil and gas companies must collaborate more if the industry is to achieve the efficiency gains needed to ensure the area has a future, experts have said.

Buy-to-let boom: Landlord lending jumps as first-time buyer loans fall: The buy-to-let boom in Britain shows no sign of abating, as cash thrown at landlords has jumped by more than a third year on year.

Multi-millionaire U.S. dealmaker sells £84 million chunk of shares in Glencore: A multi-millionaire U.S. dealmaker has sold an £84 million chunk of shares in Glencore.

Shares in Moneysupermarket.com take tumble after one of Founders cashes in £56 million stake: Shares in Moneysupermarket.com took a tumble after one of the Founders cashed in a £56 million stake.

Rio deal in Mongolia should spark fresh interest in mining giant: Two years ago Rio Tinto looked vulnerable. The Anglo-Australian mining giant had taken some big risks on expanding its global resources base with expensive moves into iron ore and African coal which led to an eventual $14 billion write-down. Tom Albanese, the former Chief Executive who had masterminded its diversified strategy, was forced out when these big bets on the direction of the mining industry were deemed to be “unacceptable”. However, Rio Tinto still looked vulnerable after the failure of its $4 billion acquisition of Riversdale and $38 billion mega takeover of the Canadian aluminium producer Alcan; and late last year it emerged that Ivan Glasenberg, the head of Glencore, had proposed an audacious $160 billion merger. Although the approach was flatly rejected, it left the impression that of all the major mining groups - with perhaps the exception of Anglo American - Rio Tinto appeared the most exposed to a potential takeover. A bigger concern for Rio Tinto is the Australian government’s support for an inquiry into the sharp 60% fall in iron ore prices since last June, which some critics blame on companies such as Rio Tinto for over-producing. Many of the smaller iron ore mining companies in Australia have called for the big producers to cutback on output to prevent the market from being flooded, but Rio Tinto has taken the opposite approach. Over the next few weeks the company is expected to reach its target of 360 million tonnes per year of iron ore capacity, which should allow it to seize more market share from its rivals. The company hopes that in Oyu Tolgoi it will be able to achieve the same results in copper in five years time when the underground mine is fully operational. Questor Says “Buy”.

National Grid to sell off its in-house pension Manager: National Grid is selling its £17 billion in-house pension Manager, becoming the latest blue-chip company to hive off the task of running its retirement obligations.

Unions threaten North Sea oil with first strike in 20 years: North Sea oil production could face severe disruption from a threatened strike by unions that would add to the strain already placed on drillers by falling oil prices.

Online gaming: the Party’s over: Peers 888 Holdings and GVC, by contrast, have both outperformed the wider market. A buyout is on the cards and may make good that shortfall. Bwin is losing market share in poker, a key sector, but has a relatively successful sports book, which generates almost 40% of its €612 million of revenue. That would be the main attraction for 888 Holdings, which lacks a significant sports book but operates in many of the same sectors and geographies as Bwin, and is also Gibraltar-based. That suggests it is best placed to achieve the cost savings needed to justify a premium bid. It would be unwise to ignore the other possible bidder, though. With a market capitalisation under £300 million, GVC is a third of its target’s size, but has a good record with mergers. Canada’s Amaya Gaming, a bigger player, has said it would provide financial support for GVC’s bid. Cost savings of €55 million were touted for the Bwin-PartyGaming merger in 2011. Four years later, revenue is lower and costs higher. The suitors should beware overplaying their hands.

Aveva profits fall on oil price plunge: Profits and revenues at Aveva plunged by double digits in its full year results, as the British engineering software maker that is seen as a possible acquisition target continues to be hit by softening demand from energy groups.

Rosneft trading expansion plans hit by western sanctions: Sanctions have stopped Russia’s state-controlled oil group Rosneft expanding its trading operations, the company revealed on Tuesday, preventing it from capitalising on one of the main revenue sources tapped by western rivals during the oil price rout.

We will still explore Arctic region despite protests, insists Shell Chief: Shell’s Chief Executive has staged a defiant performance at the company’s annual shareholders meeting, claiming that calls to curb new oil developments were “unrealistic” and saying that there would always be opponents to plans to drill in the Arctic.

No election chill felt as house prices heat up: General election jitters have failed to stifle signs that the housing market is building up a new head of steam

UK house price index registered a rise in March The house price index in the UK rose 9.60% in March on a YoY basis. In the previous month, the house price index had recorded a revised rise of 7.40%.

UK output producer price index rose less than expected in April On a monthly basis in April, the non-seasonally adjusted output producer price index rose 0.10% in the UK, lower than market expectations for a rise of 0.20%. Output producer price index had registered a revised similar rise in the previous month. UK input producer price index rose less than expected in April On a MoM basis, in April, the non-seasonally adjusted input producer price index registered a rise of 0.40% in the UK, compared to a revised similar rise in the previous month. Markets were anticipating input producer price index to rise 0.80%. UK consumer price index advanced less than expected in April On a monthly basis, the consumer price index in the UK recorded a rise of 0.20% in April, lower than market expectations for a rise of 0.40%. The consumer price index had registered a similar rise in the prior month. UK PPI core output remained unchanged in April On a MoM basis, in the UK, the non-seasonally adjusted PPI core output remained unchanged in April, in line with market expectations. In the prior month, PPI core output had recorded an unchanged reading.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.18% or $0.12 lower at $66.15 per barrel, ahead of the Energy Information Administration weekly oil inventory data, scheduled to be released later today. Yesterday, the contract declined 0.81% or $0.54, to settle at $66.27 per barrel, amid dollar rally and supply glut worries. Meanwhile, the American Petroleum Institute reported that the crude oil stocks rose by 5.5 million barrels in the previous week.

Oil giant Shell is in exclusive talks with support services group DCC to sell its Butagaz liquefied petroleum gas business in France. Shell received a €464m (£332m) binding offer from DCC and is discussing the bid with staff at Butagaz and Shell France. "The transaction is consistent with Shell's strategy to concentrate its downstream footprint on a smaller number of assets and markets where it can be most competitive, and is part of an ongoing exit from the LPG business globally," Shell said. DCC said the proposed deal would make it Europe's third-largest LPG distributor. It would be the group's largest acquisition and follows the purchase of BP and Statoil's LPG businesses. Shell's has been divesting in a number of downstream assets including Norwegian and British retail businesses and refineries in Britain, Germany, France, Norway and the Czech Republic.

LONDON BOOM PAYS OFF FOR LAND SECURITIES Britain's biggest commercial property company has been a big winner from London's growth, with its pre-tax profits doubling in the last year. Land Securities, whose developments include the Walkie Talkie skyscraper, says it plans to develop 1.5m sq ft of space in the capital in the next 18 months

With purchaser confidence currently high, supported by economic recovery, good mortgage access and a rise in disposable incomes, our expectation is that sales rates will continue to be strong. Production capacity, clearance of planning conditions and skills availability remain the critical constraints on volume delivery and a subject of focus across the sector. Strong rates of sale will support both current year outputs and the forward sales position, but challenges in the supply chain - particularly shortages of skilled labour- will limit the level of volume growth achieved in any one year. A level of disruption to the normal process of securing planning is commonly experienced in the run-up to a general election and this year has been no different; now that the election is decided, it is expected that we will see a return to a more consistent level of engagement and also reap the benefits of policy continuity. Sales price inflation continues to offset pressures from cost increases in the supply chain, albeit that build costs are showing some signs of acceleration as the market picks up pace. Against this backdrop, the Board is confident that the business is well positioned to deliver a strong operational and financial performance.

The oil price plunge will curb output for years to come - global energy groups have slashed or postponed more than $100bn of spending on new projects. At least 26 projects across 13 countries have been affected as companies including Royal Dutch Shell, BP and Statoil try to curtail capital spending. Industry-wide retrenchment has already seen thousands lose their jobs and slowed down the US shale boom. (FT)