<strong>FINANCIAL TIMES<br /></strong><strong>CCB SHARE DEAL VOLUME SURGES AFTER BANK OF AMERICA SELL-DOWN<br /></strong>The volume of share dealing in China Construction Bank soared yesterday, fuelling speculation that some buyers of Bank of America&rsquo;s $7.3bn (&pound;4.8bn) sell down had flipped their holdings to pocket huge gains. The troubled US bank on Tuesday sold 13.5bn shares in the mainland lender to a group of mostly mainland investors.<br /><br /><strong>GROUP KNOCKED OUT OF GATWICK BID<br /></strong>The consortium led by Citi Infrastructure Investors was ejected from the final stages of the contest to take over London Gatwick, the UK&rsquo;s second largest airport because its bid was two low. Lysander Gatwick investment bid about &pound;1.18bn, according to sources close to the group.<br /><br /><strong>theguardian<br /></strong><strong>STOCKMARKET DECLINE DRIVES DOWN VALUE OF LABOUR&rsquo;S CHILD TRUST FUNDS<br /></strong>The stockmarket slump has dealt a heavy blow to the government&rsquo;s child trust fund scheme, with new figures showing that many children&rsquo;s investments are now worth less than the amount paid into them. Parents who invested &pound;250 in their child&rsquo;s share-based accounts are now finding it is worth about &pound;232.<br /><br /><strong>KBC SHARES SUSPENDED IN BELGIUM, AIB BOSS PELTED IN DUBLIN<br /></strong>The Belgian authorities are expected to announce a third balout for hte banking and insurance group KBC today amid speculation that it has lost up to &pound;3.6bn. And Chairman of Allied Irish Banks, Dermost Gleeson was pelted with eggs at a shareholder meeting called to accept a cash call.<br /><br /><strong>THE TIMES<br />PASSENGER FOCUS WATCHDOG WILL REPLACE AIR TRANSPORT USERS COUNCIL<br /></strong>The airline passenger watchdog, a long-standing critic of government policy on aviation, is to be abolished. The government plans to replace the Air Transport Users Council with a body appointed directly by the Transport Secretary, called Passenger Focus.<br /><br /><strong>TREASURY SECRETARY SAYS US BANKS ARE 'HEALING'<br /></strong>Timothy Geithner, the US Treasury Secretary, identified signs of &ldquo;healing&rdquo; in the American banking system following the Government $700bn bailout and controversial stress testing programme. Geithner said that lending conditions were improving for corporates and consumers and concern about systemic risk was diminishing.<br /><br /><strong>The Daily Telegraph<br /></strong><strong>MORE SIG JOBS GO AS MARKET WORSENS<br /></strong>Sheffield-based building products group SIG will cut a further 170 jobs after suffering a sharp drop in sales over the year so far. SIG, Europe&rsquo;s largest supplier of roofing and insulation materials, said like-for-like sales fell 21.9 per cent and 41.6 per cent in the UK and Ireland respectively over the year to 12 May.<br /><br /><strong>AMEC ON THE LOOKOUT FOR ACQUISITIONS</strong><br />AMEC, the blue-chip engineering and oil services group, expects to make &ldquo;selective acquisitions&rdquo; after trading in line with expectations so far in 2009, management says. Chief executive Samir Brikho said Amec had made &ldquo;a good start to the year and remains on track to deliver another year of improved performance&rdquo; and the its order book continues to grow.<br /><br /><strong>WALL STREET JOURNAL<br />COURT FAVORS EBAY IN L'OR&Eacute;AL SUIT</strong><br />A French court ruled that eBay can&rsquo;t be held legally accountable for the sale of counterfeit L&rsquo;Or&eacute;al perfumes and face creams on its auction web site in France. The ruling, which comes two years after the French cosmetics giant filed a lawsuit against eBay, encompasses all brands for which L&rsquo;Or&eacute;al makes beauty products.<br /><br /><strong>LVMH TO ACQUIRE A STAKE IN BONO'S EDUN<br /></strong>LVMH Moet Hennessy Louis Vuitton is close to a deal to take a major stake in Edun, the ecologically and socially-conscious fashion line backed by singer Bono and his wife Ali Hewson, according to a person familiar with the matter. The deal, under which LVMH could take close to a 50 per cent stake in Edun, could be announced as early as Thursday.