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Outlook Over to a business that works, in the form of Betfair. It looks like a winner. The gambling company jumped to the head of the field by trouncing the City's profit forecasts and handed out sugar lumps to the shareholders in its stable with a chunky dividend hike. The shares duly raced even further ahead of a 950p indicative offer that was withdrawn in May by a major shareholder in cahoots with private equity.

Elusive Kate (left) holds Sky Lantern in the Falmouth Stakes at Newmarket yesterday

Gale Force Ten to prove fresh force in sprint ranks

O’Brien’s Jersey Stakes winner has the pace to beat speedsters at their own game in July Cup

Choral Festival wins the fillies’ handicap at Windsor on Monday night, the final leg of a treble for her jockey, Richard Hughes, who reached his century for the season

Richard Hughes sets ton-up pace in defence of riders' title

While Frankie Dettori continues his mortifying hunt for a first winner since before Royal Ascot, the champion jockey himself has gained stunning impetus after ending his own frustrations at that meeting. Until overcoming a nightmare draw on Sky Lantern in the Coronation Stakes on the Friday, Richard Hughes had endured a maddening week, repeatedly finding himself stuck in traffic or caught out by the draw. As soon as Ascot was out of the way, however, Hughes promptly accumulated 20 winners in eight days – with a treble at Windsor on Monday evening completing the fastest hundred of his career.

Ruler Of The World, in the winner’s enclosure at Epsom, seeks a Derby follow-up in the Curragh today

Ruler Of The World has power to crush Libertarian again

No less than any other walk of life, it is pretty rare in racing for anyone to profess indignation when credited with a stroke of genius. Such was the case at Epsom last month, however, when Aidan O’Brien and his patrons at Coolmore maintained a scrupulous show of bemusement about a theory that their horses had collectively undermined the prospects of the hot favourite, Dawn Approach, by setting an unexpectedly slow pace in the Investec Derby.

Winning Express scores in Listed company at Salisbury last autumn. She reverts to that grade today after finishing in the frame in two Group One contests

Ed McMahon lowers stakes to raise Winning chance

Many trainers with limited resources can impress at a corresponding level, but the most instructive measure of their acuity is how they set about making the most of a horse eligible for higher grades. That is when you will often see them exposed, excitably shooting for the moon. In his campaigning of Winning Express, then, Ed McMahon must be commended in both raising and lowering the stakes.

Glory for Queen – and King of Ascot

Estimate lands first Gold Cup for monarch after emotional triumph for Henry Cecil's Riposte

James Doyle on Al Kazeem (right) collars Mukhadram, ridden by Paul Hanagan, to land the Prince of Wales’s Stakes at Royal Ascot

James Doyle treble rallies home spirits at Royal Ascot

Al Kazeem spearheads 892-1 three-timer for jockey after Irish again claim early success

Sir Henry Cecil's Royal Ascot entries will run as planned

Royal Ascot 2013: Spirit of Sir Henry Cecil alive in global carnival

Royal meeting opens with international fanfare after scandals and bereavement

Stubbs in the frame for Royal Ascot

In noting that Ruler Of The World had not been burdened with such a portentous name by accident, John Magnier apologised at Epsom on Saturday for the number of colts owned by the Coolmore partners – George Washington apart, presumably – that had failed to live up to their implicit expectations when named after American presidents. The christening of Stubbs, however, suggests that they may have a masterpiece on their hands after his impressive success at Naas yesterday.

Mile looks making of Moohaajim against unbeaten market leaders

Betting on the Qipco 2,000 Guineas is so skewed towards the two favourites that neither retains any vestige of value.

Winning Habit: Tony McCoy, with his daughter Eve, holds the jockey’s trophy at Sandown

Double standards on use of steroids

Australia's stance on drugs a world away from here as sport struggles to put scandal behind it

Brae Hill (right) won the Lincoln last year, though in dry conditions – the Town Moor track actually had to be watered

Swiftly Done can sneak wet Lincoln

To think that some of these jockeys will be riding in Dubai next weekend.

Frankel’s charisma had a redemptive quality, sealing the resurgence of his trainer

Magical memories of 2012 - Racing: 'Frankel enlarged life's comfort zone for us all'

22 August: Juddmonte International Stakes; Frankel finally goes the full distance

France’s Freddy Head hopes a hot pace will suit Moonlight Cloud

Wise Dan looks too clever for Excelebration in the Mile

They did not dare send Frankel here, but at least we have his representative on Earth. And success in a vintage Breeders’ Cup Mile would certainly seal the emergence of Excelebration from the shadow of his nemesis. After all, remarkably enough, he arrives here with the highest official rating of all the horses Aidan O’Brien has run at the Breeders’ Cup.

Dawn Approach wins the Dewhurst Stakes under Kevin Manning

Godolphin principles prove subject to change

Everyone else might take a different view, as fatal fissures seem to emerge in his long partnership with Frankie Dettori, but Sheikh Mohammed himself knows that Godolphin's riding arrangements are fairly incidental. Paying such wages, he will never lack a world-class jockey. More fundamental changes are afoot, however, in the supervision of his horses away from the racecourse. And if the Sheikh is relieved that an implied admission of failure is receiving far less attention, then that indulgence is perhaps the least he deserves for quietly grasping some pretty painful nettles.

Olympic Glory delivers gold for Qatar in a sign of new Turf order

Anyone trying to map the shifting topography of the Turf would be interested to note that Qatari interests – essentially condensed in the Al-Thani family – accounted for as many as 10 runners in the elite races at Longchamp yesterday, compared with only four in the familiar silks of their Gulf neighbours, the Maktoum family of Dubai.

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