Red Bull's Sergio Perez after winning the sprint race at the Azerbaijan Grand Prix on Saturday, April 29, 2023. AFP
Red Bull's Sergio Perez after winning the sprint race at the Azerbaijan Grand Prix on Saturday, April 29, 2023. AFP
Red Bull's Sergio Perez after winning the sprint race at the Azerbaijan Grand Prix on Saturday, April 29, 2023. AFP
Red Bull's Sergio Perez after winning the sprint race at the Azerbaijan Grand Prix on Saturday, April 29, 2023. AFP

Sergio Perez wins action-packed sprint race at Azerbaijan GP


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Sergio Perez won Saturday's Azerbaijan Grand Prix sprint race in Baku to maintain Red Bull's perfect start to the season, but teammate Max Verstappen was in no mood to celebrate.

Red Bull's double world champion was seething over a first lap incident when he was muscled out of third place by the Mercedes of George Russell.

Perez won from pole-sitter Charles Leclerc of Ferrari with Verstappen, whose car picked up some damage, eventually getting his third place back off Russell.

The British driver apologised to Verstappen, saying his car had no grip but the Dutch driver snapped back: "Mate, we all have no grip, we all need to leave space!"

Verstappen added later: "I just don't understand why you need to take so much risk in lap 1, understeer in my side pod and create a hole, we all have cold tyres, it's always easy to lock up.

"But in this beautiful way of explaining mate, locked up, or look at the onboard, it doesn't make sense. We still got into P3, got some good points, but it is what it is."

Russell stood his corner, remarking: "I was surprised why he was so angry to be honest, he still finished the race in P3.

"I was still quite surprised he was trying to hold it round the outside, you know we're on a street circuit, he's got a lot more to lose than I have. None of the contact was intentional."

That mini storm on the banks of the Caspian Sea took some of the gloss off Perez's win.

The Mexican was adding this first of six sprint races in 2023 to his win in the Saudi Arabian Grand Prix, with Verstappen taking the season-opener in Bahrain and last time out in Melbourne.

Leclerc is on pole again on Sunday for the fourth round of the season but judged on this display he will have his work cut out again to clip the Red Bulls' wings.

In the drivers' championship Verstappen leads on 75 points from Perez on 62 with Leclerc picking up seven points - more than he's earned in the three races run so far.

Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

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Ziina users can donate to relief efforts in Beirut

Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”

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Updated: April 29, 2023, 3:57 PM