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Page last updated at 07:34 GMT, Monday, 25 August 2008 08:34 UK
Today: Monday 25 August 2008

PLEASE NOTE: We are unable to offer transcripts for our programme interviews. Today is broadcast live and the running order is subject to change.

Barack Obama will be formally nominated as the Democratic candidate for president at the Democratic National Convention. James Naughtie reports from Denver.

The new Deputy Governor of the Bank of England Charles Bean has warned that the global financial slowdown may drag on for a considerable time. Speaking at a meeting of central bankers in the United States, he said he was sure a recovery would take place, but the current downturn was at least as bad as that of the 1970s. Lesley Curwen interviews the deputy governor.

Business news with Dominic Laurie.

Britain's success in Beijing appears to have inspired many people back home to take up a sport. But the Central Council of Physical Recreation says that sports clubs are short of cash because it's all gone to fund training for elite athletes. Tim Lamb, Chief Executive of the Central Council of Physical Recreation, says clubs are short of funds and are having to close the door on sporting hopefuls.

The British economy has shuddered to a halt, and it presents the Tories with a particular problem: the cornerstone of their economic policy is that they will share the proceeds of growth with us if they take over the government. Jill Kirby, director of the Centre for Policy Studies, and Conservative MP Michael Fallon, on the Treasury Select Committee, discuss how the Tories should adapt to the politics of a recession.

Sports news with John Myers.

London's mayor Boris Johnson was handed the Olympic flag as the Beijing Games ended with a spectacular ceremony inside the Bird's Nest Stadium. In London, the countdown to the London 2012 Games was marked with a party outside Buckingham Palace. Correspondents Andy Swiss in Beijing and Jane Peel in London discuss how the two games may differ.

Today's papers

The government is too quick to criminalise young people for petty offences where informal punishment could be more effective, says a report. Ex-Youth Justice Board chairman Professor Rod Morgan, and The Justice minister Lord Hunt, debate whether justice is being meted out fairly and effectively.

Thought for the day with Clifford Longley, religious commentator.

Politicians are accused of leaving black youths to die, by cutting funding to community groups, an independent adviser to the Home Office has said. Dr Campbell, chairman of the National Independent Advisory Group on Criminal Use of Firearms, and Minister for Crime and Policing Lord McNulty discuss what can be done to tackle gun and knife crime.

The Deputy Governor of the Bank of England Charles Bean says the economic slowdown could drag on for a considerable time. Sir Peter Burt, former governor and chief executive of the Bank of Scotland, discusses the role national bank officials can play in bringing stability back to the UK markets.

Democrats are gathering in Colorado today to formally nominate Barack Obama as their White House standard bearer. James Naughtie reports from Denver.

Sports news with John Myers.

The carnage in Sudan, which began in 1983, left two million people dead and four million people homeless. Since then the peace agreement that ended the war has been threatening to unravel. Mike Thomson reports from Sudan on Africa's longest running civil war.

Today's papers.

London's Mayor Boris Johnson was handed the Olympic flag, and then followed an eight minute sequence showcasing what London is all about in the midst of the Chinese final ceremony. The Telegraph's Kevin Garside and the comedian Arthur Smith discuss the closing ceremony.

The US presidential campaign has been transformed by the internet. Arianna Huffington, of political website the Huffington Post, says that Obama would not be Democrat nominee without the web and Joe Klein, of Time magazine, discusses the excitement surrounding the election.


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