A multimillionaire hotelier was stabbed to death at his country mansion in England.
Sir Richard Sutton, 83, suffered several knife wounds in the attack that left his partner, in her 60s, fighting for her life.
The assault occurred at the couple's country estate near Gillingham, Dorset, on Wednesday evening.
The aristocrat owns several high-profile hotels in central London, including the five-star Sheraton Grand on Park Lane and the Athenaeum near Piccadilly.
Police in London arrested a man, 34, in connection with the incident, who was believed to be known to the couple.
Sir Richard was one of the UK's wealthiest people and featured in the Sunday Times Rich List in 2017, with assets of more than £200 million ($274m).
He had an extensive property and farming portfolio, including the 2,630-hectare Benham estate in West Berkshire and the Stainton estate in Lincolnshire.
“We are deeply saddened and devastated by the sudden death of Sir Richard Sutton, announced this morning," a statement from Sir Richard Sutton Ltd said.
“Sir Richard was a caring, generous and warm family man, who genuinely regarded those who worked for him as part of his extended family.
“Sir Richard was passionately devoted to both his company and its people, setting the highest standards for quality in the hotel, farming and property interests within the group.
“His loss will be felt by everyone within the company, those who worked with him, and his family who have lost an incredible individual.
“Our thoughts are with the Sutton family at this tragic time.”
Dorset Police appealed for anyone with information to contact officers.
“Our thoughts are with the family of the man who sadly died and the injured woman at this extremely difficult time and they are being supported by specially trained officers," said Det Insp Simon Huxter, who is leading the investigation.
“We will be carrying out a full investigation to establish exactly what happened at the address in Higher Langham, and I would appeal to anyone who saw or heard anything suspicious in the area on the evening of April 7 to please contact us.
“A cordon is in place at the address and there will continue to be a heavy police presence in the vicinity as we carry out inquiries.
“Officers can be approached by members of the public with any information or concerns.”
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
CHATGPT%20ENTERPRISE%20FEATURES
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FROM%20THE%20ASHES
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