Manchester City are considering a move for Real Madrid's 24-year-old Argentine striker Gonzalo Higuain.
Juventus have hinted that they are losing interest in buying Arsenal striker Robin van Persie, 28.
England international Andy Carroll only wants to leave Liverpool if it means rejoining old club Newcastle United.
West Ham United have offered to pay Carroll £90,000 a week over eight years in a bid to lure him away from Liverpool.
Tottenham Hotspur are also said to be preparing a bid for Carroll, 23.
Spurs could also move for Inter Milan's Brazilian goalkeeper Julio Cesar, 32, after failing to sign Hugo Lloris from Lyon.
Sunderland's £10m bid for Wolves striker Steven Fletcher, 25, has been rejected by the Championship club.
Barcelona are planning an £11.7m move for 24-year-old Arsenal midfielder Alex Song.
Real Madrid are threatening to end their interest in Tottenham's Luka Modric and turn their attentions to Inter Milan's Wesley Sneijder instead.
Manchester City have told Emmanuel Adebayor they will not give him a pay-off in order to finally seal his move to Tottenham.
Stoke City are in talks with Aston Villa over bringing defender Alan Hutton, 27, to the Britannia Stadium after just 12 months at Villa Park.
The Potters also want to sign Michael Kightly, having bid £2m for the Wolves winger.
Liverpool will allow Craig Bellamy to rejoin Cardiff City - where he spent time on loan two seasons ago - on a permanent basis.
West Ham United will complete the £2.5m signing of defender James Collins, 28, from Aston Villa today.
Meanwhile, the Hammers have ended their interest in Real Mallorca centre-half Ivan Ramis, who could move to Wigan.
Charlie Adam's agent has defended the Liverpool midfielder after he was labelled a coward by Tottenham winger Gareth Bale.
Sir Alex Ferguson is facing mounting anger from Manchester United supporters for his public defence of the club's owners, the Glazer family.
Former Wolves manager Mick McCarthy says he turned down the chance to take over at Nottingham Forest because he hopes for a return to the Premier League.
Portsmouth are hopeful that Balram Chainrai's deal to buy the club for a second time will go through in the next couple of days.
Manchester City manager Roberto Mancini showed that he still has many of his old skills with a clever back heel in training.