Burnley v Newcastle United player ratings: James Tarkowski 5, Matej Vydra 7; Joelinton 4, Allan Saint-Maximin 9


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Newcastle took a giant step towards securing their Premier League survival with a vital 2-1 win at Burnley on Saturday.

Steve Bruce's side came from behind at Turf Moor to end their seven-game winless run.

Matej Vydra put Burnley ahead in the first half, but Jacob Murphy equalised and Allan Saint-Maximin grabbed the priceless winner.

Fourth bottom Newcastle are now six points clear of the relegation zone and hold a game in hand on third bottom Fulham.

"We've still got a long way to go, a lot of twist and turns as that's what the Premier League is," said Magpies manager Steve Bruce.

"For me, it's always been about the accumulation of points. There's a points tally you have to get to and we're creeping towards it. To come and win here is a big result for us."

The hosts took the lead after 18 minutes as Ashley Westwood pounced on a poor header from Newcastle defender Ciaran Clark.

Westwood played in Chris Wood and he pulled the ball back from the touchline for Vydra to net from close-range.

But French winger Saint-Maximin turned the game after coming on as a 57th- minute substitute, along with top scorer Callum Wilson, who made his first appearance since February 6 after picking up a hamstring injury.

Saint-Maximin surged down the right flank and drew three defenders towards him before pulling the ball back for Murphy to equalise in the 59th minute.

Five minutes later, Saint-Maximin produced a brilliant individual effort as he ran at the Burnley defence before driving his low shot past Bailey Peacock-Farrell.

"We've been without them for so long, you can see what they bring," Bruce said of  Wilson and Saint-Maximin's introduction. "We know when we have people like them in the team you can see the impact it has."

Burnley are seven points above the bottom three, but aren't certain of survival after just one win from their last eight matches.

Manager Sean Dyche was left to lament what he felt was a missed opportunity. "It was a strange kind of performance because it was a dominant performance but you have to change that into wins," he said.

"The biggest statistic you have got to get right is the scoreline. They have taken their chances but we gave the game away a little bit."

How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press

Points tally

1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3

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UAE currency: the story behind the money in your pockets