Sport Bobbing along: Bobs Worth and Barry Geraghty take the Lexus with ease

Gold Cup champion trounces Irish challengers to become clear favourite to retain Festival crown

Betfair shares valued at up to £14 each

Betfair is set to be valued at up to £1.5bn when it reaches the stock market, after the company's shares were given an initial range of between £11 and £14. The stakes of the betting exchanges' two founders Ed Wray and Andrew Black will be worth between £261m and £333m on that range.

James Moore: A little story of betting and benefit cuts

Outlook A question that investors might like to pose Betfair as its directors tour the City with the aim of securing their backing for its forthcoming float: why are you still onshore?

Workforce still struggles to match Arc expectations

Connections of Workforce have long reserved the right to keep prevaricating until this morning. All being well, however, it has generally been assumed that the Derby winner would ultimately take his chance in the Prix de l'Arc de Triomphe at Longchamp on Sunday. Then, yesterday, Betfair punters suddenly allowed a colt quoted as short as 5-1 by bookmakers to trade at 14-1.

Business Diary: Early home win for Hemmings

Trevor Hemmings appears to have the Midas touch when it comes to sporting enterprises. On Tuesday, the day hisPreston North End delisted from the Alternative Investment Market, having been brought into the Blackpool Tower owner's private business empire, the team looked to be in for a rough ride. They found themselves 4-1 down to Leeds after 39 minutes only to pull off an astonishing fightback that saw the final result6-4 in their favour. Score one for Hemmings.

Place your bets: Betfair lines up listing at last

After years of market rumours, the online gaming group Betfair has finally decided to lay its cards on the table and gamble on a listing in London.

David Prosser: Goldman backs a winner in Betfair

Outlook There have been some worried bankers wandering the halls of the Fleet Street headquarters of Goldman Sachs these past few weeks. "We cannot have another Ocado," senior executives have been warning, a reference to the flotation of the online grocer in July. The IPO was humiliating for all concerned, with Ocado first forced to slash the price and then watch as the shares fell further in the weeks following the float. But it was all the more so for Goldman. It is not normally associated with such flops and the fact Ocado is run by two former employees of the investment bank raised eyebrows – did it flog a dead horse out of loyalty to old friends? Well, let us say this for Goldman. Betfair, its first large UK IPO since the debacle, is not another Ocado. It may be another online business and the float may make millionaires of its founders, at least on paper, but that is where the similarities end.

City Diary: The First London net spreads as Devilfish looks set to fold

Meet Dave "Devilfish" Ulliott, pictured above with a couple of advisers, one of the UK's most famous poker players having trousered more than £3.5m in prize money during his card playing career.

Findlay accuses BHA of 'vendetta'

For nearly two months, the volcano in Harry Findlay had been simmering dangerously. Yesterday, amid the sunlit gaiety of Ladies' Day here, the top finally blew. Planting himself squarely in the path of Nic Coward, chief executive of the British Horseracing Authority, Findlay gave furious public vent to the resentment he has been nursing since a disciplinary trauma suddenly turned his fairy-tale adventures on the Turf into a raging nightmare.

The City Diary: First London tests the patience of its investors

Slackbelly exposes the good, the bad, and the ugly of the Square Mile

France and Italy confront World Cup hangovers, too

It's not just England needing a good start to Euro qualifiers, while it's more hope than expectation for other home nations

Government to lose as bookies flee UK

Telephone and internet operations head offshore while betting shops suffer. Tax revenues could collapse, says James Moore

Japanese bank faces loss on Betfair listing

Softbank, a Japanese bank, is facing major losses on its 23 per cent stake in Betfair, the online betting exchange which is hoping to float in the autumn.

Superconnect, By Richard Koch and Greg Lockwood

This primer on network theory fails to convince

Hazlitt is given top advertising job at ITV

The new chief executive of ITV, Adam Crozier, has made his second key appointment, hiring the former chief executive of the radio group GCap.

Arts and Entertainment
Attenborough with the primates
tvWhy BBC producers didn't want to broadcast Sir David Attenborough's famed Rwandan encounter
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Campbell: ‘Sometimes you have to be economical with the truth’
newsFormer spin doctor says MPs should study tactics of leading sports figures like José Mourinho
Sport
football
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Agretti is often compared to its relative, samphire, though is closer in taste to spinach
food + drink
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Kelly Osbourne will play a flight attendant in Sharknado 2
people
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The dress can be seen in different colours
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Wes Brown is sent-off
football
Voices
Lance Corporal Joshua Leakey VC
voicesBeware of imitations, but the words of the soldier awarded the Victoria Cross were the real thing, says DJ Taylor
Life and Style
Alexander McQueen's AW 2009/10 collection during Paris Fashion Week
fashionMeet the collaborators who helped create the late designer’s notorious spectacles
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War with Isis: Fears that the looming battle for Mosul will unleash 'a million refugees'

The battle for Mosul will unleash 'a million refugees'

Aid agencies prepare for vast exodus following planned Iraqi offensive against the Isis-held city, reports Patrick Cockburn
Yvette Cooper: We can't lose the election. There's too much on the line

Yvette Cooper: We can't lose the election. There's too much on the line

The shadow Home Secretary on fighting radical Islam, protecting children, and why anyone in Labour who's thinking beyond May must 'sort themselves out'
A bad week for the Greens: Leader Natalie Bennett's 'car crash' radio interview is followed by Brighton council's failure to set a budget due to infighting

It's not easy being Green

After a bad week in which its leader had a public meltdown and its only city council couldn't agree on a budget vote, what next for the alternative party? It's over to Caroline Lucas to find out
Gorillas nearly missed: BBC producers didn't want to broadcast Sir David Attenborough's famed Rwandan encounter

Gorillas nearly missed

BBC producers didn't want to broadcast Sir David Attenborough's famed Rwandan encounter
Downton Abbey effect sees impoverished Italian nobles inspired to open their doors to paying guests for up to €650 a night

The Downton Abbey effect

Impoverished Italian nobles are opening their doors to paying guests, inspired by the TV drama
China's wild panda numbers have increased by 17% since 2003, new census reveals

China's wild panda numbers on the up

New census reveals 17% since 2003
Barbara Woodward: Britain's first female ambassador to China intends to forge strong links with the growing economic superpower

Our woman in Beijing builds a new relationship

Britain's first female ambassador to China intends to forge strong links with growing economic power
Courage is rare. True humility is even rarer. But the only British soldier to be awarded the Victoria Cross in Afghanistan has both

Courage is rare. True humility is even rarer

Beware of imitations, but the words of the soldier awarded the Victoria Cross were the real thing, says DJ Taylor
Alexander McQueen: The catwalk was a stage for the designer's astonishing and troubling vision

Alexander McQueen's astonishing vision

Ahead of a major retrospective, Alexander Fury talks to the collaborators who helped create the late designer's notorious spectacle
New BBC series savours half a century of food in Britain, from Vesta curries to nouvelle cuisine

Dinner through the decades

A new BBC series challenged Brandon Robshaw and his family to eat their way from the 1950s to the 1990s
Philippa Perry interview: The psychotherapist on McDonald's, fancy specs and meeting Grayson Perry on an evening course

Philippa Perry interview

The psychotherapist on McDonald's, fancy specs and meeting Grayson Perry on an evening course
Bill Granger recipes: Our chef recreates the exoticism of the Indonesian stir-fry

Bill Granger's Indonesian stir-fry recipes

Our chef was inspired by the south-east Asian cuisine he encountered as a teenager
Chelsea vs Tottenham: Harry Kane was at Wembley to see Spurs beat the Blues and win the Capital One Cup - now he's their great hope

Harry Kane interview

The striker was at Wembley to see Spurs beat the Blues and win the Capital One Cup - now he's their great hope
The Last Word: For the good of the game: why on earth don’t we leave Fifa?

Michael Calvin's Last Word

For the good of the game: why on earth don’t we leave Fifa?
HIV pill: Scientists hail discovery of 'game-changer' that cuts the risk of infection among gay men by 86%

Scientists hail daily pill that protects against HIV infection

Breakthrough in battle against global scourge – but will the NHS pay for it?