Wednesday newspaper round-up: Carillion, pay gap, Heathrow, GKN

The dramatic collapse of Carillion has started to hit thousands of the firm’s suppliers, as the real world impact of the demise starts to emerge. Subcontractors owed money by the construction and services giant are already being pressurised by their banks and have begun laying off workers, as the threat of contagion afflicting the sector was likened to a near re-run of the banking crisis. - Guardian

Heathrow is to unveil proposals for a shorter, cheaper third runway in a public consultation to help push its expansion plans through. The airport will propose cutting 300 metres from the length of the northwestern runway, a scheme approved by the government following the Airports Commission process, in an attempt to cut costs. – Guardian

UK working women are losing out on £138bn each year compared with their male counterparts and those in London are most affected, figures compiled by the Young Women’s Trust show. While men earn an average full-time salary of £39,003 a year, women in full time work earn 23pc less, or £29,891, largely because male employees tend to be paid a higher wage, reach more senior positions and they are also more likely to work in higher-paid industries, the Young Women’s Trust said. Considering there are UK’s 15.1m working women in the UK, that means collectively, those women are missing out on £137.7bn, or £9,112 each, a year. – Telegraph

Virgin Atlantic has called for a guarantee to prevent passenger charges rising on the back of an expanded Heathrow as the airport kicks off a 10-week consultation on its plans. The airline’s chief executive Craig Kreeger has suggested there should be a "passenger cost guarantee" to ensure airport charges do not rise significantly from their current levels. – Telegraph

Nationwide told officials at the last minute that it would not be ready to implement “open banking” reforms intended to increase competition and to give customers a better deal. Britain’s biggest building society told the Competition and Markets Authority last Wednesday that it needed more time, only three days before the official launch of the new rules. – The Times

The pension fund trustees overseeing a £1 billion deficit in the retirement schemes of GKN have put themselves at the centre of the battle for the FTSE 100 engineer, saying that any takeover deal for the company will need to go through them first. A £7 billion takeover approach by Melrose, the quoted conglomerate, has been rejected and there has been speculation of counter-offers coming from American private equity or break-up bids by rival automotive and aerospace components groups. – The Times