Wednesday Papers: Big six banks rescue B&B -- bid news and gossip

* Britain's big six banks agree to buy a large chunk of shares in Bradford & Bingley; leading institutional fund managers are supporting B&B's £400 million cash call because they fear the consequences of the bank failing; banks and institutions are stepping up the search for a new chief executive

* GfK is preparing a counter-offer for Taylor Nelson to head off any offer by WPP Group

* Private equity groups are circling Southern Cross Healthcare looking for signs it is vulnerable to a bid

* BAE Systems secures $538 million USA army contract for Bradley vehicles and spares

* Cardinal Health to cut 600 jobs in restructuring; sees charge of $63 million

* UK government to auction £3.75 billion in gilts maturing 2012 on July 17

* Barclays unit First Plus to stop lending to new customers; 300 jobs hit; Loanmakers sees adverse impact

* Watermark raises net £8 million in placing; plans transfer of shares to AIM

* MTN and Reliance extend merger talks

* BMW and Fiat consider alliance

* AA & Saga merger drives up revenues

* Sir Philip Green leaves options open regarding making a third attempt at buying Marks & Spencer