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.

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Wilko Johnson, now the bad news: musician splits with manager after police investigate assault claims

Wilko Johnson, now the bad news

Former Dr Feelgood splits with manager after police investigate assault claims
Mark Udall: The Democrat Senator with a fight on his hands ahead of the US midterm elections

Mark Udall: The Democrat Senator with a fight on his hands

The Senator for Colorado is for gay rights, for abortion rights – and in the Republicans’ sights as they threaten to take control of the Senate next month
New discoveries show more contact between far-flung prehistoric humans than had been thought

New discoveries show more contact between far-flung prehistoric humans than had been thought

Evidence found of contact between Easter Islanders and South America
Cerys Matthews reveals how her uncle taped 150 interviews for a biography of Dylan Thomas

Cerys Matthews on Dylan Thomas

The singer reveals how her uncle taped 150 interviews for a biography of the famous Welsh poet
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The Battle of the Five Armies: Air New Zealand releases new Hobbit-inspired in-flight video

Air New Zealand's wizard in-flight video

The airline has released a new Hobbit-inspired clip dubbed "The most epic safety video ever made"
Pumpkin spice is the flavour of the month - but can you stomach the sweetness?

Pumpkin spice is the flavour of the month

The combination of cinnamon, clove, nutmeg (and no actual pumpkin), now flavours everything from lattes to cream cheese in the US
11 best sonic skincare brushes

11 best sonic skincare brushes

Forget the flannel - take skincare to the next level by using your favourite cleanser with a sonic facial brush
Paul Scholes column: I'm not worried about Manchester United's defence - Chelsea test can be the making of Phil Jones and Marcos Rojo

Paul Scholes column

I'm not worried about Manchester United's defence - Chelsea test can be the making of Jones and Rojo
Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

While other sports are stalked by corruption, we are an easy target for the critics
Jamie Roberts exclusive interview: 'I'm a man of my word – I'll stay in Paris'

Jamie Roberts: 'I'm a man of my word – I'll stay in Paris'

Wales centre says he’s not coming home but is looking to establish himself at Racing Métro
How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?

A crime that reveals London's dark heart

How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?
Meet 'Porridge' and 'Vampire': Chinese state TV is offering advice for citizens picking a Western moniker

Lost in translation: Western monikers

Chinese state TV is offering advice for citizens picking a Western moniker. Simon Usborne, who met a 'Porridge' and a 'Vampire' while in China, can see the problem
Handy hacks that make life easier: New book reveals how to rid your inbox of spam, protect your passwords and amplify your iPhone

Handy hacks that make life easier

New book reveals how to rid your email inbox of spam, protect your passwords and amplify your iPhone with a loo-roll
KidZania lets children try their hands at being a firefighter, doctor or factory worker for the day

KidZania: It's a small world

The new 'educational entertainment experience' in London's Shepherd's Bush will allow children to try out the jobs that are usually undertaken by adults, including firefighter, doctor or factory worker