Novak Djokovic's quest to become the first man to complete a calendar Grand Slam in more than 50 years fell at the final hurdle as the world No 1 lost the US Open final 6-4, 6-4, 6-4 to Russian Daniil Medvedev on Sunday.
The 34-year-old Serb was trying to become the first man in over a half-century to win all four majors in the same year.
It would have made him only the third man to achieve the feat after Don Budge (1938) and Rod Laver (1962 and 1969), who was watching from a courtside seat.
Third time proved a charm for world No 2 Medvedev, who at last hoisted a Grand Slam trophy while avenging a straight sets defeat by Djokovic earlier this year in the Australian Open final.
"It's a tough one to swallow, this loss, considering everything that was on the line," said Djokovic.
"I was glad it was over because the build up for this tournament and everything that mentally, emotionally I had to deal with throughout the tournament in the last couple of weeks was just a lot.
"It was a lot to handle."
For the fifth consecutive match, Djokovic found himself playing catch-up after dropping the first set.
But this time there would be no way out as the rampaging Russian kept up the pressure with a barrage of aces while allowing Djokovic a single break.
In the second set Medvedev stepped up the pressure further and Djokovic showed the first signs of cracking, the Serb destroying his racquet in a fit of frustration after missing two break chances.
With Djokovic on the ropes Medvedev moved in with the knockout punch, breaking to clinch the second then racing to a double break 4-0 lead in the third.
Such was Medvedev's domination that the only tiny bit of suspense came late in the third when the Russian was suddenly hit by a bout of nerves trying to close out the match.
Serving at 5-2 Medvedev double faulted on match point, allowing Djokovic to secure his break.
After the top seed held serve to trim the deficit to 5-4 Medvedev again had match point and again double faulted.
But the 25-year-old did not squander another chance, gathering himself to clinch the title on his third attempt.
Medvedev later revealed there might have been more drama had the match gone any further. He said he was starting to cramp up just as he began to close out the third and feared Djokovic would pounce if he saw any sign of vulnerability.
"At 5-4, my left leg, I almost couldn't walk," said Medvedev. "When I walked to the towel, my leg was just going behind.
"I was trying not to show it. If Novak feels it, it's not good."
Djokovic arrived on Arthur Ashe Stadium court with the weight of history on his shoulders.
An extraordinary women's final on Saturday between teenagers Emma Raducanu and Leylah Fernandez had softened the spotlight's glare on Djokovic but there was no shirking from it on Sunday with tennis fans around the world tuned in to witness history.
The women's final was the first Grand Slam to feature two unseeded players but the men's followed the form book to the letter with number one Djokovic meeting number two Medvedev.
The New York crowd had never really embraced Djokovic the way it wrapped its arms around Swiss Roger Federer and Spaniard Rafa Nadal, who have also won 20 Grand Slam titles.
It had also shown no real love for Medvedev, the lanky Russian who relished the role of U.S. Open villain on his way to the 2019 final.
Perhaps sensing they were about to witness something special, the crowd rallied behind Djokovic from the moment he stepped on court, showering him with cheers and chants of his nickname: "Nole, Nole, Nole".
"I felt something I never felt in my life here in New York," said Djokovic. "The crowd made me [feel] very special.
"The emotion, the energy was so strong. I mean, it's as strong as winning 21 Grand Slams.
"That's how I felt, honestly."
But no amount of support could lift Djokovic's game.
The Serb had said he would treat the final as if it were the last match of his career but never came close to finding his best.
Medvedev was also keenly aware there was a line in the history books for him if he were the player to deny Djokovic the coveted calendar year Grand Slam.
"It definitely makes it sweeter," said Medvedev. "He was going for huge history and knowing that I managed to stop him it definitely makes it sweeter and brings me confidence for what is to come."
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
Brief scoreline:
Manchester United 2
Rashford 28', Martial 72'
Watford 1
Doucoure 90'
UAE Premiership
Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes
Final
Abu Dhabi Harlequins v Jebel Ali Dragons, Friday, March 29, 5pm at The Sevens, Dubai
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
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UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
Mobile phone packages comparison
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Engine: 6.2-litre V8
Transmission: 10-speed automatic
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Brief scores:
QPR 0
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SPECS
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
'Panga'
Directed by Ashwiny Iyer Tiwari
Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta
Rating: 3.5/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
