Tuesday newspaper round-up: Gambling ombudsman, Heathrow, Nationwide, Saudi Aramco

Labour would set up a new gambling ombudsman to protect consumers, deputy leader Tom Watson will say on Tuesday, citing a string of scandals that have raised concerns about “predatory” practices in the industry. In a speech at the thinktank Demos, Watson will unveil the latest plank of a plan to overhaul betting regulation via a new Gambling Act, following a party review published last year. – Guardian

Britain is aware of the risks facing sensitive areas of the economy from greater levels of Chinese investment, Philip Hammond has said, as London forges closer economic ties with Beijing despite US concerns. Speaking after a joint economic summit between Britain and China in London that is set to open up deals for companies in the two countries worth more than £500m, the chancellor said he welcomed the closer cooperation. – Guardian

If there was ever a project that demonstrated Britain is open for business, then Heathrow expansion is it. Gordon Brown faced down his critics to give the first green light in 2009 and successive Conservative prime ministers have spent a significant amount of political capital fighting for parliamentary approval for a new runway. - Telegraph

The global slowdown will extend into next year as mounting trade war uncertainty forces businesses to rein in spending and Chinese consumers turn cautious, Fitch Ratings has warned. The credit ratings agency trimmed its 2020 global growth forecast from 2.8pc to 2.7pc, highlighting “persistent weakness in Chinese consumer spending” and the impact of tariff tensions on business investment. – Telegraph

The chief executive of Britain’s largest building society has received benefits worth more than £500 a day to cover the cost of travel, security and medical expenses. Joe Garner, the boss of Nationwide, was handed £185,000 in perks during the 12 months to April 4, according to the group’s latest annual report. – The Times

Saudi Arabia has indicated that it could proceed with the on-again, off-again float of its state-owned oil company as soon as next year. Crown Prince Mohammed Bin Salman, the gulf state’s de facto ruler, said that he was preparing to take Saudi Aramco public on its domestic exchange, as well as on at least one overseas market by “early 2021”, at the latest. – The Times