For The New York Times, Dylan Loeb McLain reports that Chinese grandmaster Hou Yifan is close to regaining her chess title:
Ms. Hou, 19, the women’s world champion in 2010 and 2011, is playing for the current title in Taizhou, China, against Anna Ushenina, 28, a Ukranian grandmaster who is the reigning champion. Each player earns one point for a victory and a half-point for a draw, and, after four games, Ms. Hou leads 3 to 1. The winner will be the first player to amass 5½ points.
The champion will earn 120,000 euros (about $160,000) and the runner-up 80,000 euros (about $106,000).
Ms. Hou lost in the second round of a 64-player elimination championship tournament last year when Ms. Ushenina, who was the 30th seed, won it to become the champion. [Source]