Business news 

BA follows Virgin with fuel surcharge cut

Airline responds to pressure and follows rival Virgin in reducing additional charges as the oil price dips to $78

JP Morgan warns profits will decline further

The US bank, in-line for $25bn from the Government, expects income to fall 'over the next few quarters'

Alchemy leads in Fraser and Mosaic bid talks

Jon Moulton's Alchemy is said to have moved into pole position to take Baugur's stakes in House of Fraser and Mosaic

Sport News 

Five-year plan to save Formula One

Team principals invited to discuss radical cost-cutting measures, such as standardised parts, in attempt to save sport

• Standardised engines set to transform F1

• Hamilton's carbon footprint hit by fame

Thousands expected for London's Olympic parade

Triple cycling champion Chris Hoy will lead up to 500 sport stars in tomorrow's celebration of Britain's Olympic success

Ferdinand: England team was a circus

Captain admits manager Fabio Capello has made England more professional and less concerned with peripheral distractions

Comment 

A triumph? I'd hate to see a disaster

Gordon Brown can only avoid blame for the bust if he admits that his boom was always an illusion

• Daniel Finkelstein

How they botched the bailout

The Bank of England has a lot to answer for. The competitiveness of British banks has been ruined

• Tim Congdon

Frost/Nixon: Two gladiators battling with wits

As his new film opens at the London Film Festival, the director recalls the performance that inspired him to bring it to the big screen

• Ron Howard

• I was not the underdog, says Frost

Life & Style 

Knitwear that looks and feels good

A British-made range of woollens combines aesthetics with ethics in its fashionable wool cardigans, coats and skirts

Drinkers want children kept behind bars

In pubs across Britain children have become the most unpopular customers with drinkers calling on landlords to bar them

Time to be open-minded about open collars

The Times Cheltenham Literature Festival teaches our mature man that neckties makes you look like a stuffed shirt

Arts & Entertainment 

Why Dennis Hopper is an uneasy rider

The film star turned artist is being fêted in a new Paris show. But Hopper the film director is still full of regrets, discovers Kevin Maher

Gordon Gekko is back in sequel

Wall Street's ultimate Master of the Universe will have to face the current struggling markets where greed is no longer good

Astonishing Stirling Prize win for Accordia

Low down on the bookies’ lists, nobody expected the housing development in Cambridge to win: least of all its architects