Wednesday newspaper round-up: Volkswagen, Home prices, Global inequality

The average cost of a home in Britain has reached a fresh high, with the east tightening its grip as the region with the fastest-growing house prices. House prices on average increased by 5.2% to £284,000, the highest value on record, in the year to August, according to the Office for National Statistics. The annual rate of house price inflation was 5.6% in England, 0.8% in Wales, 2.9% in Northern Ireland and -0.9% in Scotland. - The Times

Global inequality is growing, with half the world’s wealth now in the hands of just 1% of the population, according to a new report. The middle classes have been squeezed at the expense of the very rich, according to research by Credit Suisse, which also finds for the first time that there are more individuals in the middle classes in China – 109m – than the 92m in the US. - Guardian

A pilot Barclaycard scheme lets customers buy expensive items at 0% interest — after a one-off fee. Britain’s biggest credit card provider says the Purchase Plan deal will help cut bills. It is targeting those with an existing annual percentage rate (APR) of at least 11%, keen to put big-ticket goods such as a TV on their card. - Daily Mail

The UK’s Green Investment Bank (GIB) said yesterday that it has raised £355m from investors including Strathclyde Pension Fund to plough into offshore wind projects. The Edinburgh-based bank said the fundraising makes its offshore wind fund the largest renewable energy fund in the UK, at £818m. - The Scotsman