The UK is home to the best university in the world, but the nation is facing intense competition from overseas institutions, new rankings show. Oxford University has topped the latest Times Higher Education world university rankings for the fourth year in a row. Overall, the UK has 28 institutions in the top 200, down from 29 last year. Of these, almost two-thirds (18 universities) have fallen by at least one place. The annual list rates more than 1,300 universities in 92 countries on five areas: teaching, research, citations, industry income and international outlook. While Oxford was named the best-performing university globally, Cambridge University takes third place in the list. This is down one place on last year, when it was second.