Spain and Germany had setbacks in the Nations League on Tuesday, with Spain losing to Ukraine for the first time and Germany being held to a draw by last-place Switzerland.
Spain kept the group lead despite a 1-0 loss in Kiev in a match attended by about 15,000 fans.
Germany went two goals down in the first 30 minutes and could not manage more than a 3-3 draw against the Swiss in Cologne.
Spain has seven points from four matches, one point more than Germany and Ukraine, followed by Switzerland with two points.
In the final round in November, Spain visits Switzerland and then hosts Germany. Ukraine visits Germany and Switzerland.
Germany-Switzerland
Germany fought back to draw with Switzerland after another performance filled with errors.
Mario Gavranovic scored twice for the visitors, who led 2-1 at half-time after capitalising on sloppy defending and wayward passes by the hosts.
The Swiss were ahead 3-2 by the 57th minute before Serge Gnabry’s equaliser three minutes later.
“If you lead three times, you can win the game,” Switzerland goalkeeper Yann Sommer said.
“We played a very good first half, forced German mistakes and were efficient, which we were not in recent matches.
"In the end, they are still Germany. Too bad the result will not help us with Ukraine having won. We really wanted to beat Germany tonight.”
The game was played without fans because of rising coronavirus infections in the area.
Midfielder Toni Kroos made his 100th appearance with Germany.
Ukraine-Spain
Viktor Tsygankov scored shortly after coming off the bench in the second half to give Ukraine its first victory over La Roja.
The fans celebrated loudly as Tsygankov struck the net from outside the area after a through-ball by captain Andriy Yarmolenko, completing a counter-attack in the 76th minute.
It was Ukraine’s first goal against Spain in 17 years. Tsygankov entered the match about 10 minutes earlier.
“We had lost three games in a row and we owed an apology to our fans,” he said. “We missed them so much and we are happy to have given them a reason to celebrate tonight.”
Young sensations Ansu Fati and Adama Traore, touted as the future of Spain’s national team, were together in the starting line-up for the first time but could not help Spain to find the net.
“They basically had one proper chance and scored it,” Spain midfielder Rodri said of Ukraine. “These are errors we need to learn from.
"It certainly wasn’t in our plans to lose here but we came to Kiev knowing it was a tough place to get a result.”
Ukraine goalkeeper Georgiy Bushchan made several key saves to keep Spain scoreless for the first time in a Nations League match.
“We played with heart and absolute commitment,” Bushchan said. “We had to defend a lot and wait for our chance.
"Unfortunately, we can’t play from the position of strength against such top teams as Spain.”
Other results
Malta defeated Latvia 1-0 for its first away victory since 2013, with Steve Borg’s winning goal scored seven minutes into second-half injury time.
San Marino earned its first point since 2014 with a 0-0 draw at Liechtenstein, while the Faroe Islands defeated Andorra 2-0 and Luxembourg won 2-1 at Montenegro.
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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