Our top London business news today:
Sultan of Brunei in £500m Queensway buyout
“More than 800,000” new London homes needed by 2021
Tesco backs tech incubator in St Katherine Docks
Sunday Times’ 100 fastest growing Tech Track companies announced
News from elsewhere on the web:
Average property prices to increase by 6% this year, says Rightmove
Property agent Rightmove expects the average property price to increase by 6% this year. The revised forecast is up from the 4% in July and 2% in January. Prices are rising fastest in greater London, up 8.2% over the past year to £493,748, and the West Midlands, up 6.8% to £195,429.
All boroughs in London, except Barking & Dagenham, saw an increase in prices. Kensington and Chelsea had the most expensive homes with an average price of £2.16m – a 6.5% increase since last year.
More women on UK banks boards
Female board directors across the top five biggest UK lenders have increased to 20%, up from 12% in 2007. Lloyds has three women on its board, Barclays and Standard Chartered have two each and HSBC and RBS have four each.
More from the City A.M.
Tesco pork chops labelled as British came from Netherlands
Two Tesco pork chops labelled as British were produced in Netherlands, tests have revealed. The retailer said it was “extremely disappointed to discover a pork loin product probably came from a Dutch farm, not a British farm”.