Ancelotti has compared Terry to former AC Milan defender Paulo Maldini

New Chelsea manager Carlo Ancelotti has insisted captain John Terry is not for sale at any price.

Manchester City had a bid for the 28-year-old England defender rejected last week and Ancelotti stated Terry is integral to his plans.

“John Terry is the symbol of this team, he will be captain,” said the Italian.

“He wants to stay at Chelsea forever and we want to keep him forever. There is a question of Manchester City but for Terry there is no price.”

It is the second time City have failed in their attempts to land the England skipper, having also had an approach turned down in late 2008.

Terry has played 405 games in 12 years at Stamford Bridge, scoring 35 goals in the process.

606: DEBATE It was Ancelotti’s first press conference and he announced two supremely positive pieces of news. Let’s hope the good news continues… SuperFrankieLamps

In his first news conference since taking over as Blues boss, the former AC Milan coach added: “He said he wants to stay, there is no problem for him for us, the story continues - Chelsea and Terry.

“I like to have a captain like Terry, he is very close to Paulo Maldini for professionalism, for quality and he will be the best captain for Chelsea.

“I spoke with Terry a month ago when I came to the club and he said welcome. And after he went on holiday.

“I will speak with him because he is the captain and I want a good relationship with the captain.”

A product of Chelsea’s youth academy, Terry has captained the club to two Premier League titles, two FA Cup successes and two League Cup wins.

But success on the European stage has so far eluded Terry, although he came within a successful penalty of lifting the Champions League trophy against Manchester United in 2008.

The comparison between Terry and Maldini is huge praise as the Italian is regarded as one of the finest defenders of his era.

Maldini spent his entire career as a footballer at AC Milan, playing alongside and under Ancelotti, and has been linked with a coaching role at Stamford Bridge.

Ancelotti also confirmed that Chelsea have completed the signing of Yuri Zhirkov from CSKA Moscow but refused to be drawn on any other potential new signings.

The 50-year-old was reported to be interested in raiding his former club for 19-year-old Brazilian forward Pato and Italy midfielder Andrea Pirlo.

He also refused to confirm Deco and Ricardo Carvalho would be leaving West London, despite the Portuguese pair being heavily linked with a move to Inter Milan.

“Chelsea is a great team now, if we can improve now then it would be great for the club,” he added. “Carvalho and Deco are Chelsea players.

“If in the future a player wants to go they have to speak with the club and we take the right decision for the player and for us.”

AMD causes blurred or distorted central vision

A ground-breaking laser treatment could prevent millions of older people from going blind, experts believe.

The technique helps reverse the effects of age-related macular degeneration - the leading cause of blindness in over 60s in the western world.

Developed by pioneering eye expert Professor John Marshall of King’s College London, the laser returns the back of the eye to its youthful state.

Improvements to sight were reported in early proof of concept trials.

AMD affects more than 200,000 people in the UK and attacks the central vision.

This is potentially a huge breakthrough for millions of people across the world Tom Pey of Guide Dogs for the Blind

It develops when a membrane at the back of the eye becomes clogged with natural waste materials produced by the light-sensitive cells, which clouds vision.

In youthful eyes, enzymes clear away the debris, but as the ageing process sets in this system can fail.

The painless “short pulse” laser works by boosting the release of the enzymes to clean away the waste without damaging the cells that enable us to see.

Prevention

Early tests proved promising in around 50 people with diabetic eye disease - chosen as a model because the problems develop faster than in AMD.

What this laser is doing is trying to treat the underlying ageing process, as it were, reset the clock so that you don’t have the manifestations of visual loss Professor Marshall

Professor Marshall now plans more studies in patients already suffering from AMD in one eye with the aim of saving the sight in their better eye for as long as possible.

He said once people have advanced AMD in one eye, studies show the condition usually develops in the second eye in 18 months to three years.

“If you can delay the onset by three, four, six, seven or 10 years, it’s proof of the principle,” he said.

“What this laser is doing is trying to treat the underlying ageing process, as it were, reset the clock so that you don’t have the manifestations of visual loss.”

He said the aim was to prevent damage and preserve their sight for the rest of their lives.

Professor Marshall said he hoped the treatment would be available within two to five years and one day people in their 40s who have a family history of AMD could choose to have the treatment as a way of preventing the onset of the condition.

Tom Pey, director of external affairs for Guide Dogs for the Blind, which funded the research, said: “This is potentially a huge breakthrough for millions of people across the world.”

A spokeswoman for the Macular Disease Society said: “If it is shown to work it is an extremely exciting development and potentially a real breakthrough.

“It will not sadly be useful in those who have already lost their sight to AMD, but it may have great hope for the future.”

There is currently no treatment for the most common form of AMD - known as “dry” AMD - which the new laser technique could prevent.

The more aggressive “wet” form of AMD - where new blood vessels cause bleeding and scarring behind the retina - can be stabilised with drugs.

Phorm is a controversial system of internet advertising

Shares in the online ad firm Phorm have fallen by a third after BT said it had no immediate plans to use the service that tracks online behaviour.

Phorm serves up adverts related to a user’s web browsing history, which it monitors by taking a copy of the places they go and search terms they look for.

However, it came in for considerable criticism from privacy groups and prompted an EU investigation.

The firm’s shares were down 34.74% at 315p at 11:40 BST.

Phorm builds a profile of users by scanning for keywords on websites visited and then assigns relevant ads.

It has proved controversial because it scans almost all sites a user visits and there is an ongoing political debate about how a user gives consent.

Phorm had conducted trials of its technology with BT, which it marketed as Webwise.

On hold

A spokesman for British Telecom, Mike Jarvis, told the BBC that they were not completely closing the door on Phorm’s Webwise service.

“We’re interested in this area [targeted online advertising] but for now we have no immediate plans.

“It’s more a case that we have other stuff to work on - Project Canvas, rolling out the fibre network and so forth - so we’ve taken a step out of Phorm and will see how it develops.

“[Our decision has] nothing to do with cost or privacy, it’s about resources and priority,” he added.

In April, Amazon blocked Phorm from scanning its web pages to produce targeted advertising, as has the UK government, citing privacy concerns.

Phorm declined an interview request, instead issuing a statement saying its activities “remain ongoing” and that it was looking forward ” to creating the conditions necessary for UK ISPs to move to deployment”.

“We continue to focus considerable effort on faster moving overseas opportunities,” the statement read.

“In so doing we have already minimised our dependency on the deployment by any single ISP or in any particular market.

“In addition to making excellent progress in South Korea, we are engaged in more than 15 markets worldwide including advanced negotiations with several major ISPs.”

Pope Benedict has given his blessing for the advertisements

Vatican Radio - the voice of the Roman Catholic Church - is starting to air advertisements for the first time in the station’s nearly 80-year history.

The first company to run its commercials will be an Italian gas and electricity company - Enel.

Until now Vatican Radio has been wholly funded by the Catholic Church at a cost of some $30m (£17m) a year.

But the Holy See’s latest finances show that it too is suffering from the global economic downturn.

Shared values

Founded in 1931 by Italian inventor Guglielmo Marconi, Vatican Radio is the international broadcast platform for the Catholic Church.

It transmits its programmes in 45 languages on FM and the internet with the aim of spreading the message of the Pope and the Church’s Christian teachings.

But the station - like other organisations - it has recently been looking for outside financial help.

That has now come in the form of Enel. Its commercials are likely to be in keeping with the measured conservative tone of the station.

In return, Vatican Radio could receive some $250,000 (£155,000) over the next six months.

Enol says it is an honour to be chosen as the first advertiser on Vatican Radio as, it says, the company has some of the shared values of the Catholic Church.

Donations down

Until now Vatican Radio has been paid for out of the Church’s central funds.

The Holy See has just published its finances, showing that it had a deficit for the second year running. The costs of Vatican Radio were partly to blame for the deficit.

The Church says donations were down in the past year because of the world’s current economic problems.

It will be a few months before it is known if the commercials are working and whether the audience accepts them.

A total of 8,750 Michael Jackson fans have been chosen to receive tickets to attend the star’s memorial service in Los Angeles on Tuesday.

The fans, who were drawn at random, will each receive two tickets for ceremony at the Staples Center.

Some 11,000 passes were issued for the event, with the remaining 6,500 for a simulcast at the nearby Nokia Theatre.

More than 1.6m people applied for tickets, with the successful applicants notified by e-mail on Sunday.

Deka Montanya from San Francisco won a ticket and said: “I’m in shock that it’s happened. It’s surreal.”

Stanford University student Dave Gobaud said he did not believe the e-mail was genuine at first.

Jackson family spokesman Ken Sunshine said officials at AEG, the owner and operator of the Staples Center, had “scrubbed” the entries to eliminate duplicates and any suspected of being made by automated systems.

British fans ‘left out’

Ticket holders will receive a unique code and instructions on how to pick up their tickets on Monday, where they will also receive a wristband that will be placed on their wrist at the time.

Sunshine said measures were being taken to prevent ticket-touting, adding that fans must have both the ticket and the wristband to enter the Staples Center on Tuesday and wristbands that have been ripped, taped or tampered with will be void.

Officials are worried fans may flood the Staples Center on Tuesday

City officials are preparing for massive crowds and have urged people to stay at home and watch the memorial on TV amid estimates up to 700,000 people may flood the area in trying to reach the arena.

Streets around the Staples Centre are being closed off, and Los Angeles Assistant Police Chief Jim McDonnell warned ticketless fans they would be “standing in the hot sun on a city street with a lot of other people… but not within eyeshot of Staples.”

Meanwhile, British fans are angry about being left out of the memorial plans due to the short notice arrangements for the ceremony.

Matt Blank from the Michael Jackson World Network fan club told the BBC: “It could be as late as four o’clock Monday morning that fans in the UK find out if they are successful or not with the tickets.

“If they are, they’ve then got 24 hours to get to America - and flights will be through the roof once they realise how popular flights to Los Angeles are - that’s if they can get flights at all.”

A British Airways spokesman said flights to Los Angeles were “very busy” but there were still seats available.

The strong dollar has hit oil prices

Oil prices are hovering at a five-week low of about $64 a barrel, on fears that a global recovery could take longer than previously thought.

US crude fell by $2.47 a barrel from Thursday’s close, to $63.99, after earlier hitting $63.85, the lowest intraday price since 28 May.

Meanwhile Brent crude shed $1.47 to $64.14 a barrel.

Poor economic data last week in both the US and Europe suggested that the global recession was not over.

US markets had been closed on Friday for the US Independence Day holiday.

‘Stalling stock markets’

On Monday, the dollar strengthened - limiting oil’s appeal as a safe haven investment.

Typically, investors shift towards commodities when the greenback weakens.

“It’s a definite break to the downside, probably sparked by the poor economic data and stalling stock markets,” said Christopher Bellew, a broker at Bache Commodities in London, in response to the latest fall in oil prices.

The global slowdown is denting demand for oil from both individual consumers and companies.

The market will be looking for clues about the state of the world economy when G8 industrial nations gather in Italy later this week for a three day meeting.

The government will spend more on the jobs-for-work programme

India’s government has unveiled its annual budget, saying the “first challenge” is to return to a growth rate of 9% a year “at the earliest”.

Finance Minister Pranab Mukherjee said the growth rate for the present fiscal year was projected at 6.7%.

He said the second challenge would be to “deepen and broaden the agenda for inclusive development”.

The government increased spending on urban poor schemes and the landmark jobs-for-work scheme to help the poor.

But shares fell as the budget was announced, with the benchmark Sensex index closing more than 5% lower, as the market worried about how the government would fund its increasing deficit.

The index shed 869.65 points, or 5.8%, to a provisional close of 14,043.40.

India’s fiscal deficit expanded to 6.2% in 2008-09 as the government launched stimulus spending to mitigate against world recession.

Traders were concerned by forecasts that the fiscal deficit for the year to March 2010 would hit 6.8% of GDP, after expectations that it would expand by up to 6.5%.

They were disappointed that Mr Mukherjee failed to embark on any major economic liberalisation, instead opting to to invest in infrastructure and projects helping India’s rural poor.

‘Challenges’

KEY BUDGET TOPICS The biggest risk the government faced was disappointing voters. With this self-styled populist budget, it will have done almost all the things it promised to. The main focus is on rural development and there are a raft of new economic and social development plans. It has also boosted infrastructure funds, tweaked the tax system, and provided food guarantees to some of India’s poorest people. But there are still questions over how it will finance it all. The budget deficit will widen to 6.8%, and there is little room to raise taxes. Boosting the economy will be key to its success. Ben Richardson, Editor, BBC India Business Report Analysis: Social plans at core of budget

Mr Mukherjee said the states should remove bottlenecks to speed up infrastructure projects, and announced increased funds for construction of highways and flood prevention schemes.

“The first challenge is to return the GDP growth rate of 9% at the earliest,” Mr Mukherjee said.

“The second challenge is to deepen and broaden the agenda for inclusive development.”

Prime Minister Manmohan Singh said the budget was essentially a rural development budget, and also that it would accelerate growth.

Analysts meanwhile have said it was a populist, spending, budget to kick-start India’s economy.

‘Further stimulus’

The finance minister said that there were “signs of revival in domestic industry and foreign investors have also returned to Indian markets in the last couple of months”.

“It is possible that the two worst quarters since the global financial meltdown in September 2008 are behind us,” Mr Mukherjee said.

Mr Mukherjee said the government could not “afford to drop its guard”.

“We have to continue our efforts to provide further stimulus to the economy,” he said.

The Indian economy grew 6.7% in the year to the end of March 2009, but had grown by an average of 8.8% in the previous five years.

Deficit

The government has pledged “inclusive” growth to boost rural development and social initiatives.

Exports - which make up about 15% of gross domestic product - have also fallen, as overseas demand for goods continues to shrink in the global recession.

Harish Galipelli, head of research at Karvy Comtrade said: “By pushing banks to lend aggressively to farmers, we can expect an increase in the productivity of agricultural produce.

“With incentives for exporters, export-oriented commodities like cotton and spices may rule firm.”

The government under Prime Minister Manmohan Singh is well placed to embark on economic changes, having won a new term with a strong margin in May.

India’s sovereign rating of BBB-minus, which was placed on negative outlook in February, is not likely to change, said Standard & Poor’s Takahari Ogawa.

US President Barack Obama has arrived in Moscow for talks with his Russian counterpart, Dmitry Medvedev, focusing on further reducing nuclear stockpiles.

Officials on both sides were quoted as saying a document had been agreed, though Russia said it was not final.

Both men say they want deep cuts to their current levels of 6,000 nuclear warheads each.

In addition, Russia has been pressing Mr Obama to scrap a US plan for a missile defence shield in Europe.

Afghanistan and Iran are also on the agenda.

The presidential Air Force One plane carrying Mr and Mrs Obama landed at Moscow’s Vnukovo airport on Monday morning.

Mr Obama is expected to hold talks with Vladimir Putin, currently prime minister and formerly president, on Tuesday.

Many analysts say he is still in the driving seat in the Russian government.

Both sides have made clear their desire to improve, or “reset”, relations between Washington and Moscow.

But BBC diplomatic correspondent Jonathan Marcus, who is in Moscow, says that is not going to be easy given the different perceptions of their national interests the two sides bring to the table.

Under the previous Bush Administration, relations between Washington and Moscow were almost as bad as during the Cold War, so there is ample opportunity for improvement, he adds.

‘Difficult situation’

Mr Obama is travelling with his wife, Michelle, and two daughters.

This is not some star coming to town Dmitry Trenin head of the Moscow Carnegie Centre think-tank A summit of limited expectations Russian views on Obama

He is due to begin his visit by laying a wreath at the Grave of an Unknown Soldier near the Kremlin wall, before talks with Mr Medvedev.

The Russian president said in an interview for Italian media released on Sunday that US missile shield plans for Europe put a “very prominent nuclear country like Russia… in a difficult situation”.

Arms control will top the agenda of the summit. The Soviet-era Start I accord expires in December.

The White House co-ordinator for weapons of mass destruction, Gary Samore, ruled out any final agreement on renewing Start being reached this week, but he did see an “announcement” being made.

“I think you will see an announcement that indicates some progress toward reaching that objective,” he told reporters.

On Afghanistan, the US is confident of obtaining Moscow’s approval for flying troops and weapons through Russian airspace.

President Obama will also meet Russian journalists and civil society activists.

Low-key feel

A University of Maryland opinion poll released on Sunday suggests that 75% of Russians believe the US abuses its greater power and only 2% have “a lot of confidence” that Mr Obama will do the right thing in world affairs.

START I TREATY Strategic Arms Reduction Treaty (Start I), signed in July 1991, cut the numbers of nuclear warheads by roughly half to 6,000. It expires on 5 December 2009 Start II, signed in 1993, was intended to further reduce number of warheads and ban use of Multiple Independently Targetable Re-entry Vehicle (MIRV) warheads, but was never ratified In 2002, Sort, better known as the Treaty of Moscow, committed both sides to cut arsenals by two-thirds to 1700-2200 deployed warheads

Neither of Russia’s main TV news bulletins on Sunday evening led with the impending US visit.

“This is being played as essentially a low-key visit that shows the American leadership’s respect for the Russian leadership,” Dmitry Trenin, head of the Moscow Carnegie Centre think-tank, told Reuters news agency.

“This is not some star coming to town.”

Nonetheless, correspondents say Mr Obama can expect a smoother reception than he received on a 2005 visit to Russia when he and other visiting US Congressmen were detained for three hours at an airport in the Urals city of Perm.

They were kept in an “uncomfortably stuffy room adjacent to the tarmac”, a US spokesman said, as they resisted Russian customs officials’ demands to search their plane.

Mr Obama later brushed off the incident in his book The Audacity of Hope, saying “It wasn’t the Gulag”.