ICA in peril, and other top stories...

The ICA is set to close due to a budget deficit that could reach £1.2 million by May. If £1 million in budget cuts are not made soon, the museum will be forced to close. Its director Ekow Eshun blames the ICA's financial problems on a drop in fundraising throughout the recession. In October 2008 a fundraising event featuring works donated by the likes of Damien Hirst raised nearly £700,000 – falling short of its £1.3 million target...

Tim Burton is to head the nine-member jury at this year's Cannes Film Festival. The filmmaker and goth populist will preside over the 63rd installment of the festival in May. In March his 3D adaptation of Alice Wonderland will be released. It stars Johnny Depp as the Mad Hatter and Burton's wife Helena Bonham Carter as the Red Queen, as well as Stephen Fry and Crispin Glover. Burton says ‘After spending my early life watching triple features and 48-hour horror movie marathons, I'm finally ready for this'...

There are a number of public embarrassments we are all vulnerable to. Having our bankcards rejected at supermarket checkouts, undone flys... accidentally destroying artworks worth millions of pounds. A woman attending a class at the Metropolitan Museum in New York allegedly lost her balance, causing a six-inch tear in Picasso's painting The Acrobat. Fittingly, the work depicts an acrobat striking a pose. Painted in 1904-05, it's valued at £80 million...