10.04am: Day three of Cannes 2012 rolls round. If you want to catch up with what happened yesterday (whenever that was), here’s yesterday’s blow-by-blow live blog. But as is the way with Cannes, it’s history already; all that’s left is to pick over the bones. And that will assuredly be happening in the video we’ll post later this morning, when Peter, Xan and Catherine run the rule over Rust and Bone, last night’s biggie. We’ll also have a gallery of red carpet pictures, featuring star Marion Cotillard and ice-cold director Jacques Audiard. (I’ve said it before, I’ll say it again: he’s the person I want to be when I grow up.)So what to look forward to today? The line-up is perhaps a tad less starry that on days one and two: the competition films are Reality, from Italian director Matteo Garrone (the man behind the coruscating Gomorrah in 2008) and Beyond the Hills, from Romanian Cristian Mungiu (who won the Palme with the equally coruscating 4 Months 3 Weeks and 2 Days in 2007. Both have been out of action for a little while, so we’ll be interested to see what they’ve come up with. Peter’s Reality review should come through at lunchtime; Hills is screening late so we probably won’t post the review till tomorrow.However, to keep you going, Peter has filed reviews of Mystery, the new one from Lou Ye (the controversial Chinese director who got into trouble for his Tiananmen Square film Summer Palace), Mekong Hotel from former Palme-winner Apichatpong Weerasethakul, and Paradise, from Austrian director Ulrich Seidl. We’ll post them all this morning.10.28am: Here’s last night’s red-carpet picture gallery we promised you.10.44am: Early word on Reality:In truth, a little disappointed by Reality (dir. Matteo Garrone) at #Cannes2012— Peter Bradshaw (@PeterBradshaw1) May 18, 2012Garrone’s well crafted REALITY heavy pedals the satire of fish seller’s Big Brother obsession but revels in trashy set pieces #Cannes2012— Nick James (@filmnickjames) May 18, 2012Garrone’s Reality is creepy fun but bit aimless. Appropriate tombstone for Berlusconi culture. Spot the grizzled faces from Gomorrah.— Dave Calhoun (@davecalhoun) May 18, 201210.59am: And here’s the video: the daily Guardian Film Show, running the rule over yesterday’s highlights, Rust and Bone, Madagascar 3 and After the Battle.11.15am: This from Charlotte Higgins, who went to see Pablo Larraín’s No rather than Reality:The Pinochet film NO, starring Gael Garcia Bernal, has just premiered to whoops, cheers and extended applause – practically unstoppable applause in fact – at Directors’ Fortnight. And rightly so. It’s brilliant.11.18am: Some more verdicts on No:Wild applause for Pablo Larrain’s NO, and deservedly so. Crazy that this isn’t in Competition, while AFTER THE BATTLE is.— Guy Lodge (@GuyLodge) May 18, 2012That’s a massive @theartsdesk Yes to Pablo Larrain’s No. Great fun, and moving too. #Cannes2012— Demetrios Matheou (@dem2112) May 18, 201211.53am: While we’re waiting for Peter’s review of Reality, let’s have a look through the trades. There’s a decent crop of stories this morning. • Harvey Weinstein has got political, picking up The Oath of Tobruk, a doco about the fall of Gaddafi by French philosopher Bernard-Henri Levy. It’s said to “highlight the invaluable leadership from President Barack Obama and Secretary of State Hillary Clinton”. Obama may also get a boost if Weinstein goes for Bin Laden hunt movie, Code Name Geronimo, which looks set to beat Kathryn Bigelow’s Zero Dark Thirty into cinemas. Full story here.• Variety report that Cate Blanchett and Mia Wasikowska have signed up for Carol, a Film 4 backed adaptation of Patricia Highsmith’s The Price of Salt. Made in Dagenham’s Elizabeth Karlsen and Stephen Woolley are producing. More details below.Phyllis Nagy (“Mrs. Harris”) pens the adaptation of the love story that follows the burgeoning relationship between two very different women in 1950s New York. One is a girl in her 20s working in a department store who dreams of a more fulfilling life, while the other, is a wife trapped in a loveless, moneyed marriage desperate to break free but fearful of losing her daughter in the process.Film4, the pic financing arm of Channel 4, are co-developing and co-financing the project, which is set to lense in February 2013 in London and New York.• Stephen Fry and Hugh Laurie will reunite – vocally at least – for The Canterville Ghost, a CGI animation based on the Oscar Wilde short story. It’s looking to be a Christmas film in 2014. Here’s more from Screen Daily.Set in rural, nineteenth century England, the story follows Sir Simon de Canterville’s haunting of Canterville Chase. Stephen Fry will play the titular ghost with Laurie cast as his nemesis, a lowly gardener who is revealed to be Death himself.Kim Burdon directs. Writers are Keiron Self and Giles New.Gina Carter and Robert Chandler produce under a Melmoth Films banner alongside Fry’s Sprout Pictures Film and Jerry Hibbert’s new animation company D’Arblay Films. The BFI also backed the project.It will be animated in London and Toronto, with direction, designs and storyboards from D’Arblay Films in the UK and CG animation from Arc Productions, the studio behind Shane Acker’s 9 and Rocket Pictures’ Gnomeo & Juliet, in Canada. The film will return to London for audio post-production.• Screen Daily also report that Sylvain Chomet, the animation genius behind The Illusionist and Bellleville Rendezvous, is setting up a prequel to the latter film, called Swing Popa Swing.Sylvain Chomet is re-teaming with Paris-based animation house Les Armateurs for a prequel to Belleville Rendez-vous (Les Triplettes de Belleville).Didier Brummer’s Armateurs is back in Cannes this year with Directors’ Fortnight title Ernest & Celestine.Chomet’s new animation, Swing Popa Swing, will go back to the childhood of the elderly triplet singing trio at the heart of Belleville Rendez-vous.Chomet, who made his last film The Illusionist with Pathé, has written a synopsis for the prequel and outlined a number of new characters. He is expected to deliver a script over the summer.• Variety say Gwyneth Paltrow is looking to play Picasso’s muse and lover Dora Maar in Spanish legend Carlos Saura’s Guernica 33 Days. Antonio Banderas – who else? – has been cast as the big man. Here’s the dope.Gwyneth Paltrow is in negotiations to play opposite Antonio Banderas in “Guernica 33 Days,” the tale of Pablo Picasso’s emotional turmoil as he painted his masterpiece.Carlos Saura (“The Hunt,” “Raise Ravens,”) directs from a screenplay he co-wrote with Spanish producer Elias Querejeta and French scribe Louis-Charles Sirjacq.As reported in Variety, Banderas plays Picasso; Paltrow is up to limn his lover Dora Maar, a Spanish-speaking French photographer, who snapped the stages of “Guernica’s” creation.Paltrow speaks Spanish, having lived as an exchange student for a year in Spain at age 15.Spain’s Imanol Arias will portray writer Jose Bergamin, while Barbara Goenaga is Picasso’s assistant.Budgeted at €8 million ($10.4 million), “Guernica” will be one of the biggest Spanish films going into production this year.It shoots mid-September to mid-November in Guernica and France, for delivery next May, Rud said.More when we get ‘em.1.29pm: Reviews coming thick and fast now.Here’s Peter Bradshaw on this morning’s film, Reality, directed by Matteo Garrone. Plus the word on two of yesterday’s: Mystery, from Chinese director Lou Ye, and Mekong Hotel, by 2010 Palme winner Apichatpong Weerasethakul. 1.39pm: Forgot to mention a couple of Cannes-related articles in today’s G2 Film & Music, but chances are you have already noticed them. Kristen Stewart interviewed by Kira Cochrane (technically, it’s pegged to Snow White and the Huntsman, but Stewart is in On the Road, later on in the festival) and Xan Brooks on Ben Wheatley’s Sightseers, playing in the Directors Fortnight. Well worth a read.1.56pm: Henry Barnes has been to see The We and the I, the new film from Eternal Sunshine director Michel Gondry; it’s set, of all places, aboard a New York school bus. Here’s a taste:Gondry – a 49-year-old Frenchman – makes a surprisingly successful go of following the babble and switch of young fast-talking Bronxites. Most of the cast are non-professional actors recruited from a local after-school programme. The inexperience shows, but their stories – Laidy (Lady Chen Carrasco) struggles to organise a world-changing sweet 16 party, sleazy Jonathan (Jonathan Ortiz) connects with a beautiful girl riding her bike outside the bus – are well-developed, if a little simplistic.Full review coming shortly. 2.22pm: And here, a little later than planned, is Peter’s review of Paradise: Love from Austrian director Ulrich Seidl of Import/Export renown.3.34pm: Bit of a lull in proceedings, so here’s a picture of Ben Stiller and Chris Rock trying to maintain their dignity while being manhandled by a giant penguin.4.14pm: Normal service resumes.Here’s Henry’s full review of Michel Gondry’s The We and I.Then a bit more from Charlotte Higgins on the Cate Blanchett/Mia Wasikowska story mentioned in the trades earlier today – the novel it’s based on is apparently a lesbian classic. Make of that what you will.And Xan Brooks’ diary of day three.Lots to get stuck into there.4.38pm: Peter likes Shia LaBeouf’s Critics Week shortie:Shia LaBeouf has made an impressive directorial debut at #Cannes2012 with his short film bit.ly/KlfenE based on Daniel Clowes— Peter Bradshaw (@PeterBradshaw1) May 18, 20124.50pm: The Cannes sexism debate just won’t go away. Not picking any women for the competition has opened a real can of worms. Now a petition is circulation, endorsed by none other than Gloria Steinem. Read up on it here.5.40pm: The Critics Week took us by surprise when it picked British film Broken as its opener: its the directorial debut of theatre director Rufus Norris. Here’s Peter Bradshaw’s review: he’s a bit down on it, I’m afraid.6.13pm: Here’s our final offering: the daily picture gallery.The working day winds to its end, but Cannes is still going strong: tonight sees the premiere of Beyond the Hills, and with a bit of luck we’ll get a review of that in the morning. Tomorrow sees the first screenings of Lawless, one of the Hollywood offerings: directed by John Hillcoat (The Road), with a top-notch cast including Tom Hardy, Jessica Chastain and Gary Oldman.Catherine Shoard will pick up the liveblog slack tomorrow; I’ll be back on Sunday. Have a nice weekend.