Shaquille O'Neal has scored 78 points in his last two matches for the Phoenix Suns.
Shaquille O'Neal has scored 78 points in his last two matches for the Phoenix Suns.
Shaquille O'Neal has scored 78 points in his last two matches for the Phoenix Suns.
Shaquille O'Neal has scored 78 points in his last two matches for the Phoenix Suns.

O'Neal has his revenge on Lakers


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PHOENIX // It is funny how the NBA works, although the Los Angeles Lakers did not see much humour in it. The Lakers embarrassed the Phoenix Suns by 26 points last Thursday but the tables were turned on Sunday, as an under-strength squad stuck it to them 118-111. Amare Stoudemire and Steve Nash did not play for the Suns, but their centre Shaquille O'Neal did, and that was the beginning of a series of problems for the Lakers, who lost two consecutive road games for the first time since December.

O'Neal followed up a 45-point outburst on Friday against the Toronto Raptors with 33 points against the Lakers, who were powerless to stop him down low. They also forgot about Matt Barnes, who encroached on triple-double territory with 26 points, 10 rebounds and seven assists. Kobe Bryant made 18 of a season-high 38 attempts and scored 49 points, but he and Pau Gasol (30 points) were the only Lakers to score in double figures.

"We're going through a period where everybody's just kind of tired," Bryant said. "It happens. We saw Boston kind of go through it. Everybody kind of goes through it. These two games, we've been playing lethargic. It's that point in the season and we've hit it." The Lakers posted a season-low in points in a 90-79 loss on Friday in Denver, but the stranger thing was how they beat the Suns, 132-106, making Sunday's final score a 33-point reversal between the two teams.

"It's tough to understand how you can beat a team by 30 and then, next game, lose by 10. It doesn't make a lot of sense," Gasol said. O'Neal scored at will before fouling out with 44 seconds left. He scored more than 30 points in consecutive games for the first time since March 2004, while he was with the Lakers. It was also the most points he scored against the Lakers since being traded by them in July 2004.

To make matters worse, one of Bryant's front teeth was loosened after he was elbowed in the mouth by the Suns guard Leandro Barbosa in the third quarter. Bryant called time-out after getting hit but returned to the game. In other games, the Detroit Pistons defeated the Boston Celtics 105-95 while the Cleveland Cavaliers escaped with an 88-87 victory over the Atlanta Hawks.

The Dallas Mavericks cruised to a 109-98 victory over the Toronto Raptors, the Utah Jazz upended the Golden State Warriors 112-104, and the Portland Trail Blazers trounced the San Antonio Spurs, 102-84. The New Orleans Hornets helped themselves to a 99-96 victory over the New Jersey Nets, while the Indiana Pacers had a 100-94 triumph over the Denver Nuggets.

Finally, the Houston Rockets overcame a sluggish first half to withstand the Minnesota Timberwolves to run away with a 105-94 victory. * With agencies

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
Indoor Cricket World Cup Dubai 2017

Venue Insportz, Dubai; Admission Free

Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa

Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia