Marcel Siem wins in Shanghai as Race to Dubai reaches home stretch

Germany’s Marcel Siem battled blustery conditions and a touch of nerves over the closing holes Sunday to secure the BMW Masters with a dramatic chip-in at the first play-off hole.

France’s Alexander Levy started the day five shots clear of Siem but was unable to cope with winds gusting to near gale force and slumped to a 6-over par round of 78.

He finished tied for the lead on 16-under with Siem, who shot 73 on the par-72 Lake Malaren course, and England’s Ross Fisher.

The round of the day belonged to Fisher, who shot a 5-under 67 to claw back 11 shots on Levy and get into the play-off.

No one else in the 78-man field managed better than 69 Sunday as the wind bared its teeth after three days of low-scoring in windless, soft conditions.

The trio trouped back to the 18th to go head-to-head into the fierce wind.

Both Fisher and Levy found the putting surface but Siem came up short in the thick rough at the 471-yard closing par four.

But the German found the cup with his sand wedge to a huge roar from the galleries.

Both Fisher and Levy then missed their own birdie putts and Siem could gratefully claim his fourth European Tour victory and his second via a play-off.

The German could have won it in regulation a few minutes earlier after Levy bogeyed the 18th.

But his eight foot par putt for the win was pushed horribly right of the cup as the nerves undoubtedly kicked in.

Tied for fourth on 15-under par were Ryder Cup stars Jamie Donaldson and Justin Rose.

Donaldson started the day on 18-under par but fell back after finding the water at both the sixth and the 12th holes, eventually carding a 75.

Rose returned a respectable level-par 72 in the conditions, but will probably cast his mind back to Thursday’s first round when he carded a triple bogey eight at the straightforward par-five 13th.

Even a bogey that day would have meant he would have lifted the trophy on Sunday.

Shanghai hosted the first of the four European Tour Final Series tournaments. It will also play home to the second this weekend, the WGC-HSBC Champions event at Sheshan International Golf Club.

The next weekend will see the Tour move to Turkey for the Turkish Airlines Open before the finale starting November 20 DP World Tour Championship at Jumeirah Golf Estates.

Bullet Train

Director: David Leitch
Stars: Brad Pitt, Aaron Taylor-Johnson, Brian Tyree Henry, Sandra Bullock
Rating: 3/5

History's medical milestones

1799 - First small pox vaccine administered

1846 - First public demonstration of anaesthesia in surgery

1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases

1895 - Discovery of x-rays

1923 - Heart valve surgery performed successfully for first time

1928 - Alexander Fleming discovers penicillin

1953 - Structure of DNA discovered

1952 - First organ transplant - a kidney - takes place

1954 - Clinical trials of birth control pill

1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.

1998 - The first adult live-donor liver transplant is carried out

THE SWIMMERS

Director: Sally El-Hosaini

Stars: Nathalie Issa, Manal Issa, Ahmed Malek and Ali Suliman

Rating: 4/5

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.

Kill Bill Volume 1

Director: Quentin Tarantino
Stars: Uma Thurman, David Carradine and Michael Madsen
Rating: 4.5/5

The Two Popes

Director: Fernando Meirelles

Stars: Anthony Hopkins, Jonathan Pryce

Four out of five stars

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative

The national orchestra

UAE to launch new national orchestra for Emiratis and residents

New Emirati national orchestra will help tackle schools' 'apathy' towards music

National Editorial: New national orchestra will bring its harmonies to the world

Opinion: How the UAE's new national orchestra can future-proof itself

Blue Beetle

Director: Angel Manuel Soto
Stars: Xolo Mariduena, Adriana Barraza, Damian Alcazar, Raoul Max Trujillo, Susan Sarandon, George Lopez
Rating: 4/5

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

More from Con Coughlin

The thorn in the side of Biden's foreign policy team

US PGA Championship in numbers

1 Joost Luiten produced a memorable hole in one at the par-three fourth in the first round.

2 To date, the only two players to win the PGA Championship after winning the week before are Rory McIlroy (2014 WGC-Bridgestone Invitational) and Tiger Woods (2007, WGC-Bridgestone Invitational). Hideki Matsuyama or Chris Stroud could have made it three.

3 Number of seasons without a major for McIlroy, who finished in a tie for 22nd.

4 Louis Oosthuizen has now finished second in all four of the game's major championships.

5 In the fifth hole of the final round, McIlroy holed his longest putt of the week - from 16ft 8in - for birdie.

6 For the sixth successive year, play was disrupted by bad weather with a delay of one hour and 43 minutes on Friday.

7 Seven under par (64) was the best round of the week, shot by Matsuyama and Francesco Molinari on Day 2.

8 Number of shots taken by Jason Day on the 18th hole in round three after a risky recovery shot backfired.

9 Jon Rahm's age in months the last time Phil Mickelson missed the cut in the US PGA, in 1995.

10 Jimmy Walker's opening round as defending champion was a 10-over-par 81.

11 The par-four 11th coincidentally ranked as the 11th hardest hole overall with a scoring average of 4.192.

12 Paul Casey was a combined 12 under par for his first round in this year's majors.

13 The average world ranking of the last 13 PGA winners before this week was 25. Kevin Kisner began the week ranked 25th.

14 The world ranking of Justin Thomas before his victory.

15 Of the top 15 players after 54 holes, only Oosthuizen had previously won a major.

16 The par-four 16th marks the start of Quail Hollow's so-called "Green Mile" of finishing holes, some of the toughest in golf.

17 The first round scoring average of the last 17 major champions was 67.2. Kisner and Thorbjorn Olesen shot 67 on day one at Quail Hollow.

18 For the first time in 18 majors, the eventual winner was over par after round one (Thomas shot 73).

'Doctor Strange in the Multiverse Of Madness'

Director: Sam Raimi

Cast: Benedict Cumberbatch, Elizabeth Olsen, Chiwetel Ejiofor, Benedict Wong, Xochitl Gomez, Michael Stuhlbarg and Rachel McAdams

Rating: 3/5

THURSDAY'S FIXTURES

4pm Maratha Arabians v Northern Warriors

6.15pm Deccan Gladiators v Pune Devils

8.30pm Delhi Bulls v Bangla Tigers

While you're here

Ibrahim Al Zubi: Circular economy can shape a bright future for the Mena region

Ambika Vishwanath and Karma Ekmekji: A simple trick to save billions of litres of water

Maram Ahmed: The Middle East is thirsty for solutions to water scarcity

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

How England have scored their set-piece goals in Russia

Three Penalties

v Panama, Group Stage (Harry Kane)

v Panama, Group Stage (Kane)

v Colombia, Last 16 (Kane)

Four Corners

v Tunisia, Group Stage (Kane, via John Stones header, from Ashley Young corner)

v Tunisia, Group Stage (Kane, via Harry Maguire header, from Kieran Trippier corner)

v Panama, Group Stage (Stones, header, from Trippier corner)

v Sweden, Quarter-Final (Maguire, header, from Young corner)

One Free-Kick

v Panama, Group Stage (Stones, via Jordan Henderson, Kane header, and Raheem Sterling, from Tripper free-kick)

SERIES INFO

Cricket World Cup League Two
Nepal, Oman, United States tri-series
Tribhuvan University, Kathmandu

Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal

Table
The top three sides advance to the 2022 World Cup Qualifier.
The bottom four sides are relegated to the 2022 World Cup playoff

1 United States 8 6 2 0 0 12 +0.412
2 Scotland 8 4 3 0 1 9 +0.139
3 Namibia 7 4 3 0 0 8 +0.008
4 Oman 6 4 2 0 0 8 -0.139
5 UAE 7 3 3 0 1 7 -0.004
6 Nepal 0 0 0 0 0 0 0
7 PNG 8 0 8 0 0 0 -0.458

How to come clean about financial infidelity

Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.

Carol Glynn, founder of Conscious Finance Coaching

The Last White Man

Author: Mohsin Hamid

192 pages

Published by: Hamish Hamilton (UK), Riverhead Books (US)

Release date: out now in the US, August 11 (UK)