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Page last updated at 07:24 GMT, Thursday, 27 November 2008
Today: Thursday 27 November 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.

More than 100 people - including six foreign travellers - have been killed in a series of terrorist attacks in the Indian city of Mumbai. Armed police have surrounded two hotels and an office building in the city where it is reported that gunmen are holding a number of people hostage.

Indian security forces have been exchanging fire with gunmen holding dozens of hostages in two luxury hotels in the Indian city of Mumbai (Bombay). Rahul Roy-Chaudhury, senior fellow for South Asia at the International Institute for Strategic Studies, and Conservative MEP Sajjad Karim MEP, who was in the Taj Mahal hotel at the time of the attacks, discuss the targeting of tourist areas.

The latest Nationwide house price survey has been published. House prices have fallen by 4.3% over three months. In London, asking prices for homes are being slashed by up to 100,000 to secure sales in the run-up to Christmas, the Evening Standard says. Wales correspondent Mark Hutchings and David Miles, chief UK economist at Morgan Stanley, discuss how the housing market can recover.

Business news with Adam Shaw.

Sports news with Rob Bonnet.

Furniture retailer MFI has gone into administration - citing falling demand for big ticket items, cash-flow problems and the withdrawal of credit. Phil Duffy, one of the administrators for the company, and business editor Robert Peston discusses if the businesses can continue trading while administrators are consolidating finances.

Today's papers

An unknown number of hostages still appear to being held in the Oberoi hotel in Mumbai. Correspondent Jonathan Beale reports on the reaction of global leaders including Gordon Brown, who said the "outrageous" attacks would be met by a "vigorous response". Security correspondent Frank Gardner discusses the response of world leaders.

Thought for the day with Dr Elaine Storkey, president of Tear Fund.

Standards in science exams in UK schools have been eroded and the system is failing a generation, the Royal Society of Chemistry (RSC) warns. Dr Richard Pike, chief executive of the RSC, says there is hard evidence that standards have slipped - and slipped catastrophically. He discusses his view with Professor John Holman, director of the National Science Learning Centre.

More than 100 people - including six foreign travellers - have been killed in a series of terrorist attacks in the Indian city of Mumbai. Correspondent Chris Morris and British High Commissioner to India Sir Richard Stagg describe the extent of the devastation in the city.

Britain is running out of mycologists - people who study fungi in all its diverse forms. Environment correspondent Sarah Mukherjee reports on claims from scientists that other countries could stand to make lucrative fungi-based discoveries in everything from medicine to engineering.

Sports news with Rob Bonnet.

Next year, for the first time ever, it is possible that mortgage repayments will exceed new lending. City economist David B Smith, and George Magnus, a senior economic advisor at UBS Investment Bank, discuss the "drying up" of the mortgage market.

The news agency AFP is reporting that Indian police are in the process of clearing one of two luxury hotels in the city that was attacked by Islamist militants. But the state's police chief has said hostages are still being held in the Oberoi Hotel. Reporter Rahul Tandon explains what is happening in the city.

Business update with Adam Shaw.

With a new president in the US, now is the time to re-write our national security policy, a commission on national security says. Co-chairman of the commission Lord Robertson discusses whether the diplomatic strategy in Afghanistan needs to be changed.

Britain should not engage with 24-hour news in the way the United States has, a new book suggests. Author Charles Feldman and Kevin Bakhurst, controller of the BBC News channel, discuss whether rolling news leaves no time to think.

A number of hostages have been freed from one of Mumbai's top hotels - one of several sites in the city targeted by armed men - eyewitnesses said. Correspondent Chris Morris gives the latest developments.



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