Liverpool on fire as Chelsea slump



LONDON // Liverpool's spurned supporters having taken flame to the old shirt of Fernando Torres; their players applied some scorch marks to his new dreams.

Oh, the Schadenfreude at Anfield should the £50 million (Dh295m) man miss out on Champions League football at his new club.

With this rare and painful victory at Stamford Bridge, Liverpool moved that possibility in the direction of probability.

Forget the Premier League title, Chelsea remain a full 10 points behind Manchester United. Far more pressing is the challenge of Tottenham Hotspur and, should their dynamic form under Kenny Dalglish continue, Liverpool for the fourth and final Champions League slot.

Torres was all but absent on his Chelsea debut - substituted after 65 minutes as Carlo Ancelotti reverted to an old tactical shape to try and take the points. Minutes later Raul Meireles became the first Liverpool player to score a league goal here in seven years and three more points slipped out of Roman Abramovich's nervous hands.

"As the club always say, the most important people are the people who are at Liverpool Football Club, and that's the way we approached the game today," Dalglish said, pointedly. "We were determined not to lose the game. That's four clean sheets and 12 points in the last four games. Everyone with a favour to Liverpool is very happy."

Those with a hankering for Chelsea were not.

"The problem wasn't that Torres played," Ancelotti said. "He did a good job on the pitch. We had difficulty finding enough space in front, because Liverpool defended very well and they put three defenders in the middle, and we didn't find the right way to attack them. "

How they had revelled in El Nino's acquisition on the streets of west London. Amid the sea of newly minted No 9 shirts one ran a taunting strapline: "He never won anything with the Kop, now he's got a proper job".

The visiting support were unforgiving. "He who betrays will always walk alone," read one banner. The new man went straight into the team, his position on the right-hand side of a striking partnership with Didier Drogba; behind them Nicolas Anelka asked to roam free.

Liverpool's response was brutally conservative. Dirk Kuyt was the sole striker as Luis Suarez - newly moved into Torres's former Merseyside residence - remained in reserve.

Chelsea's first-half chances all derived from Liverpool errors. After just 90 seconds Maxi Rodriguez played in Torres from the half-way line - his former teammate shot high and wide. Later in the half, Drogba pick-pocketed Lucas to play in the new No 9 only for Jamie Carragher to dive into an uncompromising block. Playing mostly in their own half of the field, Liverpool still managed to create the better chances. The best of which came when Steven Gerrard angled a ball across goal was met by Maxi Rodriguez two yards out, yet preposterously he lifted it onto the crossbar.

As half time approached, Branislav Ivanovic half stole Kelly's centre from Petr Cech's grasp then compounded his error by attempting to clear the spillage from his own keeper's hands. Cech turned to the defender in screaming fury, receiving a mouthful of abuse in return.

The interval brought no change of pattern. Torres drifted wider in search of any kind of possession. Finding none, he was withdrawn by Ancelotti with a 25 minutes to play as Ancelotti reverted to his standard system, Salomon Kalou the right winger in a three-man attack.

It did not have the desired impact. At Liverpool's next attack, Gerrard made ground down the right before arcing a ball across the six-yard box.

Ivanovic and Cech ran at each other, stopped, and let it run onto Meireles, whose unerring finish extending his personal return to four in five League outings.

As the home side pushed, Glen Johnson applied a questionable shove to Ivanovic in the area. "It was a penalty," Ancelotti said.

Without bothering to deploy their own new forward, Liverpool worked their way to a notable clean sheet. Points deficit to Chelsea? Six. Point proven? A very large one.

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Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

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Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

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Saturday's results

Women's third round

  • 14-Garbine Muguruza Blanco (Spain) beat Sorana Cirstea (Romania) 6-2, 6-2
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4. 6-0
  • Coco Vandeweghe (USA) beat Alison Riske (USA) 6-2, 6-4
  •  9-Agnieszka Radwanska (Poland) beat 19-Timea Bacsinszky (Switzerland) 3-6, 6-4, 6-1
  • Petra Martic (Croatia) beat Zarina Diyas (Kazakhstan) 7-6, 6-1
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4, 6-0

Men's third round

  • 13-Grigor Dimitrov (Bulgaria) beat Dudi Sela (Israel) 6-1, 6-1 -- retired
  • Sam Queery (United States) beat Jo-Wilfried Tsonga (France) 6-2, 3-6, 7-6, 1-6, 7-5
  • 6-Milos Raonic (Canada) beat 25-Albert Ramos (Spain) 7-6, 6-4, 7-5
  • 10-Alexander Zverev (Germany) beat Sebastian Ofner (Austria) 6-4, 6-4, 6-2
  • 11-Tomas Berdych (Czech Republic) beat David Ferrer (Spain) 6-3, 6-4, 6-3
  • Adrian Mannarino (France) beat 15-Gael Monfils (France) 7-6, 4-6, 5-7, 6-3, 6-2
The specs: 2019 Mercedes-Benz GLE

Price, base / as tested Dh274,000 (estimate)

Engine 3.0-litre inline six-cylinder

Gearbox  Nine-speed automatic

Power 245hp @ 4,200rpm

Torque 500Nm @ 1,600rpm

Fuel economy, combined 6.4L / 100km

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.”

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The specs

Engine: 2.0-litre four-cylinder turbo

Power: 268hp at 5,600rpm

Torque: 380Nm at 4,800rpm

Transmission: CVT auto

Fuel consumption: 9.5L/100km

On sale: now

Price: from Dh195,000 


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