Tuesday Papers: B&B underwriters face potential losses of £108 million -- bid news and gossip

* Banks and institutional investors underwriting Bradford & Bingley's attempts at a rights issue face potential losses of £108 million if its shares do not rally; B&B postpones egm until July 17

* Inmarsat receives offer approach from Harbinger, the hedge fund

* AngloGold raises $1.6 billion to trim hedges

* Marks & Spencer is to close its chain in Taiwan just 14 months after it opened stores in the country

* Concateno understood to have hired UBS to carry out a strategic review after receiving several unsolicited approaches -- Telegraph

* New Britain Palm Oil and Ramu Afri-Industries advise shareholders to reject the company's offer and to take no action on the rival offer of up to 50% of Ramu from WR Carpenter

* Electronic Data Processing in talks on possible offer from management

* Darwen Holdings revises placing price to 30p to raise £16 million; sees no reason for fall in share price

* Yahoo! ready to enter negotiations with Microsoft

* Cairn India to invest $100 million to explore oil in Sri Lanka

* Man Group to launch environmental fund; to raise initial $1.5 billion

* Phaunos Timber Fund to raise $33 million via placing of 31 million shares

* Biofusion raises £2.1 million in placing at 90p