Sunday Papers: Kent Reliance in talks with JC Flowers - bid news and gossip

The Saunday Telegraph

* The Kent Reliance Building Society (KRBS) has been in negotiations with JC Flowers & Co about a multi-million-pound injection of capital.

* David Verey, the former chairman of Lazard's London office, is set to return to the investment bank where he worked for nearly three decades as it looks to bolster its roster of City heavyweights.

* Citigroup and Bank of America are expected to report that profits in the three months to June fell by at least a third, based on consensus forecasts.

* With bank lending to small businesses still scarce, some entrepreneurs are developing innovative schemes to finance their growth plans.

The Observer

* Daily Express owner Richard Desmond is a frontrunner as the bidding war for the loss-making terrestrial TV channel, Channel Five, hots up.

* Jarvis staff set to lose £28m in back pay.

* BP attempts to place new cap over Gulf of Mexico oil rupture.

The Independent on Sunday

* Standard Chartered, the bank leading the $10bn-plus sale of assets in BP, is believed to be behind a $5.25bn (£3.5bn) standby account to protect the crisis-stricken oil giant.

* Marks & Spencer has initiated a major market-research programme to find out how tax rises and public spending cuts will affect customers.