<strong>FINANCIAL TIMES<br /><br />JCB FACES FIRST ANNUAL LOSS AFTER GLOBAL DEMAND FALLS<br /></strong>JCB faces a struggle to avoid its first annual loss this year, its chief executive warned, as he cautioned that he saw no recovery in demand for construction equipment outside of China next year. Matthew Taylor, chief executive of the UK&rsquo;s largest maker of earth-moving machines, said that JCB&rsquo;s revenues could drop between 35 to 40 per cent this year.<br /><br /><strong>MEARS SET TO MEET PROFITS TARGET</strong><br />Another series of deals struck with social landlords buoyed revenue at Mears, keeping the repair and maintenance group on track for a 14 per cent rise in annual profits. In a trading statement, the company said it had won about &pound;450m of contracts since March &ndash; including a 10-year tie-up with Brighton &amp; Hove council &ndash; and had an order book of over &pound;1.7bn.<br /><br /><strong>MACQUARIE TO BUY BLACKMONT</strong><br />Macquarie, the Australian investment bank, has strengthened its North American wealth management business by agreeing to acquire Canada&rsquo;s Blackmont Capital, in the latest sign of the bank&rsquo;s push to expand outside Asia. The move to buy the independent Canadian investment dealer comes as Macquarie enters the final stage of talks to buy the investment banking operations of Sal Oppenheim, one of Europe&rsquo;s largest private banks. <br /><br /><strong>OUT-OF-TOWN RETAIL PARKS BACK IN FASHION</strong><br />Values for prime out-of-town retail parks have risen by about a fifth as funds have returned to buying in the sector in spite of difficulties for some retailers. The retail park sector has been at the forefront of the recovery in the commercial property market, although many have been taken by surprise by the size of the resurgence in values.<br /><br /><strong>THE TIMES</strong><br /><br /><strong>DOWNLOAD PIRATE MUSIC AND LOSE THE INTERNET, MANDELSON WARNS</strong><br />Lord Mandelson will say today that he intends to press ahead with controversial measures to cut off the internet connections of people caught downloading pirated music, films or television programmes. The business secretary plans to introduce legislation to ensure that serial pirates will have their home internet services &ldquo;suspended&rdquo; for short periods.<br /><br /><strong>BA CABIN CREW FACE EXPENSES CAP</strong><br />British Airways cabin crew could see their pay docked by up to &pound;5,000 each. BA wants to cap the amount its 14,000 crew members can claim in allowances for working long-haul flights. The proposal is in addition to changes to working practices that BA will impose from next month &ndash; a move that prompted Unite to call for a strike ballot yesterday.<br /><br /><strong>The Daily Telegraph</strong><br /><br /><strong>TRADERS GO SHORT ON LLOYDS</strong><br />Hedge funds are staking millions of pounds on Lloyds Banking Group shares falling, amid fears the market is being too optimistic about the European competition ruling and the bank&rsquo;s planned rights issue. Traders have borrowed an estimated &pound;1.5bn of shares, amounting to 50 per cent of the stock available to borrow, according to figures from Data Explorers.<br /><br /><strong>FSA REFUSES ICELANDIC INVESTMENT INQUIRY</strong><br />Investment advisers who recommended putting &pound;1bn of local council cash into the collapsed Icelandic banks are still &ldquo;effectively unregulated&rdquo;, because the Financial Services Authority has washed its hands of the problem, MPs have warned. But the FSA said that monitoring financial advice about deposits falls outside its remit.<br /><br /><strong>WALL STREET JOURNAL</strong><br /><br /><strong>E*TRADE LOSS WIDENS ON CHARGES</strong><br />E*Trade Financial&rsquo;s third-quarter loss widened on charges related to a vital debt exchange it completed. However, the online broker continued to show signs of improvement in credit trends. The New York company said the loan-loss provision for its banking unit -- the capital it must set aside for current and future losses -- fell to $347m (&pound;212m), down one-third from a year ago.<br /><br /><strong>GMAC ASKS FOR FRESH LIFELINE</strong><br />GMAC Financial Services and the Treasury Department are in advanced talks to prop up the lender with its third helping of taxpayer money, people familiar with the matter said. The US government is likely to inject $2.8bn to $5.6bn of capital into the Detroit company, on top of the $12.5bn that GMAC has received since December 2008.<br />