Wednesday newspaper round-up: Air traffic control breakdown, Bet365, consumer finance claims

(Sharecast News) - Flight delays and cancellations were expected to continue into Wednesday at UK airports after another air traffic control failure kept planes grounded for hours, affecting hundreds of thousands of passengers. At least 177 flights scheduled for Wednesday to and from UK airports had been cancelled, plane tracking site Flightradar24 said, "nearly all at London Heathrow". More than 1,000 were cancelled by about 8pm on Tuesday. - Guardian

Andy Burnham should tackle inequality in the UK by introducing a wealth tax, universal free personal social care and bringing gas and electricity networks under public ownership, according to a report from more than a dozen influential thinkers. In the lead-up to the first budget of the chancellor, John Healey, this autumn, the Compass thinktank has collated 70 policy options from 15 leftwing thinkers that they argue would deliver on the prime minister's promise to end 40 years of neoliberalism. - Guardian

An online gambling giant owned by Britain's richest woman is to cut hundreds of jobs after Labour's tax raid on the industry. Bet365, which billionaire Denise Coates controls, said up to 300 jobs would be lost at its headquarters in Stoke-on-Trent, Staffordshire, where it employs about 5,500 people. A further 40 roles will be affected at its offices in Gibraltar and Malta. - Telegraph

Lenders potentially face a fresh wave of legal challenges from consumers about credit agreements stretching back decades after a county court ruling that may have far-reaching implications. It represents another legal threat to the consumer finance sector, which is already facing a multibillion-pound flood of compensation claims over the car loans mis-selling scandal. - The Times

Britain sold £4.25 billion of 30-year bonds on Tuesday with the highest yield since comparable records began in 1998, as rising global borrowing costs cast a shadow over John Healey's plans for his first budget as chancellor. The £4.25 billion sale of the 2056 government bond, or 30-year gilt, drew a yield of 5.82 per cent, the highest for any bond sale since the Debt Management Office (DMO), the government body in charge of selling public debt to investors, was created nearly 30 years ago. The higher cost of borrowing came with warnings of a £20 billion hit to the public finances. - The Times