Business news 

Rate cut hope rises as sterling falls to 13-year low

Another spate of dire economic news left markets convinced that Bank of England will order a drastic cut in interest rates

Fall in advertising sends shiver through ITV

The prediction reflects the fact that retailers are increasingly taking a short-term view of booking television advertising

• Dire ad market cements ITV's online focus

• ITV and Channel 4 need new ways to survive

Amazon challenges iTunes with rival downloads

Apple’s iTunes music store faced a new challenger as Amazon introduced a rival online MP3 service with knockdown prices

Sport News 

Bent's late strike carries Spurs into semi-finals

Watford 1 Tottenham 2: substitute completes comeback as Championship side fall short in quest for Carling Cup shock

England team united as return to India beckons

Cricket squad to fly to warm-up camp but will only commit to tour once safety concerns are addressed

Athletics faces up to credit crunch

Cycling, swimming and rowing among the big winners as UK Sport divides up the money for the 2012 London Olympics

Comment 

Irresistible financial force will prevail

Economic paralysis seems like an immovable object. But dramatic interest rate cuts can shift it

• Anatole Kaletsky

Arrogant and joyless: Obama's take on Britain?

The President-elect's writings seem to be coloured by his grandfather's brutal treatment at the hands of the colonists

• Ben Macintyre

You're dumb if you think we're all dumber

The evidence is all around us that intellectual standards are rising and that we shouldn't believe the doom-mongers

• Tim de Lisle

Life and Style 

Students: All my own work? Well, not quite

As students prepare their UCAS applications, some may be tempted to pay essay-writing companies to help them to gain a place at university

Lucia loves... rare and beautiful Christmas gifts

The best shops and websites for unusual presents, from ant habitats to cake stands, from photograph albums to fish

Let it glow, let it glow, let it glow

Displaying Christmas lights outside your house takes time, money - and a thick skin. So why do people do it?

Arts & Entertainment 

Patti Smith's life on film

Age has not tamed the fiery musician's creative flame. But as a documentary of her life is made, she's happier than ever

Samuel L. Jackson terrifies in Lakeview Terrace

Samuel L. Jackson is a perfect monster, he gives a terrific performance as an embittered bully, marvels James Christopher

Four stars for Madagascar: Escape 2 Africa

The DreamWorks sequel is arguably more charming, with inventions that will delight adults and ironies that will thrill kids