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Manchester City want Real Madrid defender Sergio Ramos, 27, and QPR goalkeeper Julio Cesar, 34.
Chelsea boss Jose Mourinho is willing to sell striker Fernando Torres, 29, in an attempt to lure Monaco's £52m forward Radamel Falcao to the west London club. Mourinho watched the 27-year-old Colombian play for his country this week.
Arsenal are rivals with Manchester United to sign 26-year-old Torino and Italy winger Alessio Cerci, valued at £16m by his Serie A club.
The Gunners have been given clearance to sign Corinthians and former AC Milan striker Pato in January. The 24-year-old is thought to be available for £10m.
Chelsea and Manchester City are considering approaches for 26-year-old Paris St-Germain and France midfielder Blaise Matuidi, who is out of contract at the end of the season.
Manchester United want Dundee United attacking midfielder Ryan Gauld, 17, who has been compared to Lionel Messi and is valued by his club at £5m.
Real Madrid midfielder Sami Khedira's anterior cruciate ligament injury, which he suffered on international duty for Germany against Italy and which could rule him out for up to six months, has also scuppered the 26-year-old's chances of a January move to either Chelsea or Manchester United.
Newcastle United want to sign Manchester United winger Wilfried Zaha, 21, on loan for the rest of the season.
Manchester United striker Wayne Rooney, 28, is likely to accept a new contract worth over £250,000 per week because former manager Sir Alex Ferguson's influence at the club since his retirement is not as big as he had expected.
Meanwhile, United are willing to give striker Javier Hernandez, 25, a pay rise from his £60,000-a-week deal in order to keep him at the club.
And Chelsea winger Andre Schurrle, 23, says Rooney would not get into the Germany team.
Also at Chelsea, attacking midfielder Kevin De Bruyne, 22, says he does not regret staying at the club over the summer but admits he may go out on loan in January.
Germany boss Joachim Loew will send a weakened team to Wembley for the friendly against England on Tuesday. He plans to rest Arsenal's Mesut Ozil, and Bayern Munich players Philipp Lahm and Manuel Neuer.
QPR could be fined £60m under Financial Fair Play rules for spending so much money in the past year.
Tottenham winger Andros Townsend, 22, who has broken into the Spurs and England team in recent months, says he was aware this season would be "last chance saloon" for him at White Hart Lane.
David Beckham is planning to sign NBA basketball star Lebron James to his Miami Major League Soccer franchise. The former England midfielder thinks James can help develop his franchise's brand.
Cameroon striker Samuel Eto'o says there was a "plot" by his team-mates not to pass him the ball in the first leg of their World Cup play-off against Tunisia, which they drew 0-0.