Real Madrid coach Carlo Ancelotti struggled to explain how his side were shocked 2-1 at home by rank outsiders Sheriff Tiraspol in the Champions League after dominating the match.
Luxembourg midfielder Sebastien Thill scored an outstanding late half volley to snatch an unlikely victory for Sheriff, who reached the Champions League group stage for the first time this season after winning four qualifying rounds.
Sheriff took the lead against the run of play with a header from Jasurbek Yakhshiboev while Karim Benzema equalised for the 13-times European champions with a second-half penalty before Thill secured the victory.
Real had 30 shots on goal and 11 on target while keeping 67 per cent of possession and winning 13 corners while the Moldovan side had only four attempts, scoring two of their three shots on target and failing to win a single corner.
"Everything went well for them while everything we did turned out badly," Ancelotti said after his side's first defeat of the season.
"More than worried we are sad. We played with intensity and commitment but lost due to the finest details. The team played well, we could have been sharper in the area but it's difficult to explain what happened.
"The small details cost us the game and we should learn from that in the future. A corner kick, a stupid foul - they cost you and now we talk about a defeat we didn't deserve.
"We've missed out on three points and the group is wide open. We need to win our next game."
Sheriff, who were founded in 1997, are top of Group D with six points, after beating Shakhtar Donetsk 2-0 in their opening game.
"I dreamed of winning in the Bernabeu, I have always followed Madrid they are the most successful team in the Champions League so to beat them at home is a huge achievement," said Sheriff defender Gustavo Dulanto.
"There's still a long way to go and we can't relax because there's no logic in football, as today's result shows. We came here with the knife between our teeth but we can only look forward to the next game."
Captain Frank Castaneda revealed his side had fancied their chances before kickoff.
"We knew we could win here and before the game we had it in our heads that we could and as captain I tried to motivate the team and tell them we could do it because this is football," he said.
"Real Madrid is an historic team but on the pitch it's 11 players versus 11 and we came here to get the victory and got it.
"We are dreaming of getting into the last 16 and that's our objective. Our attention now turns to Inter and we'll work hard in order to ensure we keep getting positive results.
"Thill's goal is out of this world. It's one you dream of. I thanked him at the end of the game."
Match-winner Thill added: "We're so happy today. We played a really good game. The side were so brave with how we played and luckily enough I was able to score a bit of a stunner."
'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
RESULT
Manchester City 1 Sheffield United 0
Man City: Jesus (9')
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
ORDER OF PLAY ON SHOW COURTS
Centre Court - 4pm (UAE)
Gael Monfils (15) v Kyle Edmund
Karolina Pliskova (3) v Magdalena Rybarikova
Dusan Lajovic v Roger Federer (3)
Court 1 - 4pm
Adam Pavlasek v Novak Djokovic (2)
Dominic Thiem (8) v Gilles Simon
Angelique Kerber (1) v Kirsten Flipkens
Court 2 - 2.30pm
Grigor Dimitrov (13) v Marcos Baghdatis
Agnieszka Radwanska (9) v Christina McHale
Milos Raonic (6) v Mikhail Youzhny
Tsvetana Pironkova v Caroline Wozniacki (5)
What is a robo-adviser?
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These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
