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Click the PS button, click the Options button while positioned on your game and chose Close Application. Press the PS button to go back to the UI. IIRC you can press the options button and use Close Application to stop the game, but you might as well leave it running in case you feel like going back to it.
On PS3, you could delete a game using the triangle button and a menu would appear. The options button should bring up a similar menu. Yeah, options on the title and then delete, or you can navigate to Settings-System Storage Management-Applications. Hit the options button on the title you want to remove.