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Monday, April 24, 2023
Sweden and Italy close in on Ireland
Sweden, the defending champions, and Italy's Molinari brothers closed to within a shot of the leaders Ireland after the third round fourballs at the World Cup in China on Saturday.
Ireland, leading by three strokes overnight, were unable to repeat their first-round heroics in front of sizeable galleries at Mission Hills in southern China, their 64 leaving them at 26 under after 54 holes.
Franceso Molinari holed an 18ft putt on the par-four 18th for a 61 to lie one shot adrift of Ireland's Rory McIlroy and Graeme McDowell, before Sweden's Henrik Stenson also birdied the last to draw level in second place.
Ireland, who started the $5.5million tournament with a 58 in the opening fourballs Thursday, were off to a strong start with a McDowell birdie at the second before McIlroy holed a 12-ft putt for a birdie at the 3rd but were unable to maintain their cushion.
McIlroy and McDowell set World Cup alight
McIlroy, ranked no 10 in the world, said Ireland were still positive despite seeing their lead cut, adding that they had not taken full advantage of the fourball format.
"We seem to play the holes that we played well, we both played them well," he said. "That sometimes doesn't work in fourball too well. You just sort of dovetail a little bit.
"We played well and we probably left a couple of shots out there, but we are still in a great position going into tomorrow and that's the main thing. So still very positive."
Both players said a win would be the highlight of their careers so far. "You know, it's very special to win an event, but to win it with a partner and to win it with a friend would make it even more special," said McIlroy, who finished second on the European money list.
The Molinaris finished strongly with six birdies on the back nine after lying four shots off the pace overnight.
Edoardo Molinari, who defeated Sweden's Robert Karlsson in a play-off to win the Dunlop Phoenix men's golf tournament last weekend, rolled in a 20-foot putt at the par-three 17th before his brother birdied the last.
"We played very well today," Edoardo said. "He was probably a little bit better than I was today. Both of us we managed to make a lot of birdies and hole the putts in the right moments.
"It was definitely a good score out there today because the pins were quite difficult, and even the other teams are not shooting as low as the first round. So I think 61 today is a great score."
Sweden hit four consecutive birdies on the back nine including at the 15th, where world No 7 Stenson missed a six-foot putt for an eagle. The Swedes have yet to drop a shot at this year's World Cup.
"We are right in the mix tomorrow and it's going to be I think Ireland and Italy in the last group," Stenson said.
"We have the recipe from last year with a 63 in the [final round] foursome. If we can get anything close to that tomorrow, I think we have a good chance."
Japan and South Africa lie a further six shots back on 19 under, ahead of England and Wales, on 18 under.
Last year's runners-up Spain, led by Sergio Garcia, are on a total of nine under despite coming into the tournament as one of the favourites.
The Omega Mission Hills World Cup, taking place near Shenzhen, is a 72-hole event with each team comprising two players.
The first and third days are fourball, in which four balls are used and the player with the fewest shots takes the hole for their team. The second and final days involve foursomes play, where the teams compete using only one ball per pair.
190 Ireland (Graeme McDowell/Rory McIlroy) 58, 68, 64
191 Italy (Edoardo Molinari/Francesco Molinari) 64, 66, 61;
Sweden (Robert Karlsson/Henrik Stenson) 64, 65, 62
197 South Africa (Rory Sabbatini/Richard Sterne) 65, 70, 62;
Japan (Hiroyuki Fujita/Ryuji Imada) 62, 71, 64
198 England (Ian Poulter/Ross Fisher) 66, 69, 63;
Wales (Stephen Dodd/Jamie Donaldson) 66, 68, 64
199 Venezuela (Alfredo Adrian/Jhonattan Vegas) 67, 67,65
200 South Korea (Charlie Wi/Yang Young-Eun) 64-75-61
Australia (Stuart Appleby/Robert Allenby) 68-70-62)
Argentina (Tano Goya/Rafael Echenique) 61-75-64
India (Jyoti Randhawa/Jeev Milkha Singh) 67-68-65
201 Chile (Hugo Leon/Martin Ureta) 69-67-65
202 Denmark (Soren Kjeldsen/Soren Hansen) 66-70-66
Singapore (Lam Chih Bing/Mardan Mamat) 66-70-66
203 Canada (Graham Delaet/Stuart Anderson) 64-74-65
Germany (Alex Cejka/Martin Kaymer) 66-71-66
204 Philippines (Marciano Pucay/Angelo Que) 68-72-64
Thailand (Prayad Marksaeng/Thongchai Jaidee) 67-70-67
China (Zhang Lianwei/Liang Wenchong) 65-71-68
205 New Zealand (Danny Lee/David Smail) 67-68-70
206 Scotland (David Drysdale/Alastair Forsyth) 69-73-64)
USA (Nick Watney/John Merrick) 67-72-67
207 France (Christian Cevaer/Thomas Levet) 67-73-67
Spain (Gonzalo Fernandez Castano/Sergio Garcia) 69-71-67
208 Pakistan (Muhammad Munir/Muhammad Shabbir) 69-75-64)
Taiwan (Lin Wen-tang/Lu Wei-chih) 67-74-67
211 Brazil (Rafael Barcellos/Ronaldo Francisco) 68-75-68
Source:timesonline.co.uk/
Ireland, leading by three strokes overnight, were unable to repeat their first-round heroics in front of sizeable galleries at Mission Hills in southern China, their 64 leaving them at 26 under after 54 holes.
Franceso Molinari holed an 18ft putt on the par-four 18th for a 61 to lie one shot adrift of Ireland's Rory McIlroy and Graeme McDowell, before Sweden's Henrik Stenson also birdied the last to draw level in second place.
Ireland, who started the $5.5million tournament with a 58 in the opening fourballs Thursday, were off to a strong start with a McDowell birdie at the second before McIlroy holed a 12-ft putt for a birdie at the 3rd but were unable to maintain their cushion.
McIlroy and McDowell set World Cup alight
McIlroy, ranked no 10 in the world, said Ireland were still positive despite seeing their lead cut, adding that they had not taken full advantage of the fourball format.
"We seem to play the holes that we played well, we both played them well," he said. "That sometimes doesn't work in fourball too well. You just sort of dovetail a little bit.
"We played well and we probably left a couple of shots out there, but we are still in a great position going into tomorrow and that's the main thing. So still very positive."
Both players said a win would be the highlight of their careers so far. "You know, it's very special to win an event, but to win it with a partner and to win it with a friend would make it even more special," said McIlroy, who finished second on the European money list.
The Molinaris finished strongly with six birdies on the back nine after lying four shots off the pace overnight.
Edoardo Molinari, who defeated Sweden's Robert Karlsson in a play-off to win the Dunlop Phoenix men's golf tournament last weekend, rolled in a 20-foot putt at the par-three 17th before his brother birdied the last.
"We played very well today," Edoardo said. "He was probably a little bit better than I was today. Both of us we managed to make a lot of birdies and hole the putts in the right moments.
"It was definitely a good score out there today because the pins were quite difficult, and even the other teams are not shooting as low as the first round. So I think 61 today is a great score."
Sweden hit four consecutive birdies on the back nine including at the 15th, where world No 7 Stenson missed a six-foot putt for an eagle. The Swedes have yet to drop a shot at this year's World Cup.
"We are right in the mix tomorrow and it's going to be I think Ireland and Italy in the last group," Stenson said.
"We have the recipe from last year with a 63 in the [final round] foursome. If we can get anything close to that tomorrow, I think we have a good chance."
Japan and South Africa lie a further six shots back on 19 under, ahead of England and Wales, on 18 under.
Last year's runners-up Spain, led by Sergio Garcia, are on a total of nine under despite coming into the tournament as one of the favourites.
The Omega Mission Hills World Cup, taking place near Shenzhen, is a 72-hole event with each team comprising two players.
The first and third days are fourball, in which four balls are used and the player with the fewest shots takes the hole for their team. The second and final days involve foursomes play, where the teams compete using only one ball per pair.
190 Ireland (Graeme McDowell/Rory McIlroy) 58, 68, 64
191 Italy (Edoardo Molinari/Francesco Molinari) 64, 66, 61;
Sweden (Robert Karlsson/Henrik Stenson) 64, 65, 62
197 South Africa (Rory Sabbatini/Richard Sterne) 65, 70, 62;
Japan (Hiroyuki Fujita/Ryuji Imada) 62, 71, 64
198 England (Ian Poulter/Ross Fisher) 66, 69, 63;
Wales (Stephen Dodd/Jamie Donaldson) 66, 68, 64
199 Venezuela (Alfredo Adrian/Jhonattan Vegas) 67, 67,65
200 South Korea (Charlie Wi/Yang Young-Eun) 64-75-61
Australia (Stuart Appleby/Robert Allenby) 68-70-62)
Argentina (Tano Goya/Rafael Echenique) 61-75-64
India (Jyoti Randhawa/Jeev Milkha Singh) 67-68-65
201 Chile (Hugo Leon/Martin Ureta) 69-67-65
202 Denmark (Soren Kjeldsen/Soren Hansen) 66-70-66
Singapore (Lam Chih Bing/Mardan Mamat) 66-70-66
203 Canada (Graham Delaet/Stuart Anderson) 64-74-65
Germany (Alex Cejka/Martin Kaymer) 66-71-66
204 Philippines (Marciano Pucay/Angelo Que) 68-72-64
Thailand (Prayad Marksaeng/Thongchai Jaidee) 67-70-67
China (Zhang Lianwei/Liang Wenchong) 65-71-68
205 New Zealand (Danny Lee/David Smail) 67-68-70
206 Scotland (David Drysdale/Alastair Forsyth) 69-73-64)
USA (Nick Watney/John Merrick) 67-72-67
207 France (Christian Cevaer/Thomas Levet) 67-73-67
Spain (Gonzalo Fernandez Castano/Sergio Garcia) 69-71-67
208 Pakistan (Muhammad Munir/Muhammad Shabbir) 69-75-64)
Taiwan (Lin Wen-tang/Lu Wei-chih) 67-74-67
211 Brazil (Rafael Barcellos/Ronaldo Francisco) 68-75-68
Source:timesonline.co.uk/
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Sweden admits hope for a Saab rescue deal is receding
Sweden's government admitted yesterday that time was running out to save Saab Automobile from liquidation after the collapse of a rescue deal for the lossmaking carmaker.
While General Motors could still find a buyer for Saab, analysts and company insiders said the likeliest scenario was that the 60-year-old carmaker would be wound up.
Saab was known in its heyday for the sleek and distinctive design of its cars, which earned a loyal following among customers wanting a sportier alternative to more mainstream family vehicles.
Saab split from its parent defence and aviation group in 1990, when GM took a
50 per cent stake. The US carmaker gained full control a decade later but the losses continued.
Maud Olofsson, Swedish enterprise minister, said Stockholm had not given
up hope that GM would find a new buyer, but added: "For every day that passes, the challenge gets bigger and bigger."
GM's board is due to discuss scenarios for Saab, alongside other issues facing the US governmentcontrolled carmaker, at a meeting on Tuesday.
Saab's future was thrown into doubt on Tuesday when Koenigsegg Automotive, the Swedish sports car maker, pulled out of a provisional deal to buy it after months of negotiations at the head of a consortium that also included China's Beijing Automotive Industry Holding Corp.
The bid fell apart after tensions between Koenigsegg and BAIC and problems securing a Swedish government guarantee for a €400m ($603m) European Investment Bank loan needed to close the deal, two people close to the talks said yesterday.
Saab said yesterday that it and GM were "now assessing the situation and we expect direction as to the next steps next week".
People close to the situation said there did not appear to be any alternative bidders, raising the prospect that GM could choose to put the company into liquidation.
"They've got bigger things on their plate," a person briefed on GM's thinking said, mentioning its €3.3bn plan to restructure its much larger Opel/Vauxhall business.
Sweden's government says it is willing to offer credit guarantees to help a private buyer acquire Saab, but has ruled out a public bail-out for the company if GM fails to strike a deal.
GM said in February that it would sell Saab, or close it down in 2010 if it failed to find a buyer. Saab soon after filed for reorganisation in Sweden.
When cutting loose Saab, GM equipped it with a dowry of $500m, including about $150m to produce a version of its 9-5 model unveiled in September.
The company would not confirm yesterday how much cash it now had, but noted that it had cut its debt by 75 per cent during the reorganisation, which it exited on August 21.
Analysts said that GM would struggle to find a buyer for Saab, given the length a fresh negotiation would take with an investor, the Swedish government and the EIB.
"They can't find investors if [GM] are talking about pulling the plug on December 31," said Tim Urquhart, senior analyst with IHS Global Insight.
US financial investor Ira Rennert's Renco Group earlier this year expressed tentative interest, as did a group of Wyoming-based investors. Fiat also said it would acquire Saab as part of a now-shelved plan to take over Opel and merge it with Fiat Auto and Chrysler.
Saab's market share and sales have dwindled in recent years as its model portfolio aged, the byproduct of GM's financial problems in the US.
In Europe, Saab sold fewer than 24,000 cars in January to October of this year, a 59 per cent drop on a year ago. It sold slightly more than 98,000 worldwide last year - small volumes even for premium carmakers commanding higher prices.
In the event of a liquidation, Saab's manufacturing assets or intellectual property might be of interest to BAIC or another Chinese carmaker for use in their home market.
BAIC, which was talking to Saab about producing its cars in China before the deal collapsed, said yesterday that it was reviewing its options and remained interested in overseas assets.
"BAIC states that becoming more international . . . has always been our strategic focus."
"With regard to Koenigsegg's withdrawal, we will carefully evaluate this project anew and make appropriate arrangements."
A person close to rival Chinese carmaker Geely, which toured Saab's facilities early this year and is in talks to buy Volvo from Ford Motor for nearly $2bn, said it was "absolutely not" interested in buying the carmaker or its assets.
Source:ft.com/
While General Motors could still find a buyer for Saab, analysts and company insiders said the likeliest scenario was that the 60-year-old carmaker would be wound up.
Saab was known in its heyday for the sleek and distinctive design of its cars, which earned a loyal following among customers wanting a sportier alternative to more mainstream family vehicles.
Saab split from its parent defence and aviation group in 1990, when GM took a
50 per cent stake. The US carmaker gained full control a decade later but the losses continued.
Maud Olofsson, Swedish enterprise minister, said Stockholm had not given
up hope that GM would find a new buyer, but added: "For every day that passes, the challenge gets bigger and bigger."
GM's board is due to discuss scenarios for Saab, alongside other issues facing the US governmentcontrolled carmaker, at a meeting on Tuesday.
Saab's future was thrown into doubt on Tuesday when Koenigsegg Automotive, the Swedish sports car maker, pulled out of a provisional deal to buy it after months of negotiations at the head of a consortium that also included China's Beijing Automotive Industry Holding Corp.
The bid fell apart after tensions between Koenigsegg and BAIC and problems securing a Swedish government guarantee for a €400m ($603m) European Investment Bank loan needed to close the deal, two people close to the talks said yesterday.
Saab said yesterday that it and GM were "now assessing the situation and we expect direction as to the next steps next week".
People close to the situation said there did not appear to be any alternative bidders, raising the prospect that GM could choose to put the company into liquidation.
"They've got bigger things on their plate," a person briefed on GM's thinking said, mentioning its €3.3bn plan to restructure its much larger Opel/Vauxhall business.
Sweden's government says it is willing to offer credit guarantees to help a private buyer acquire Saab, but has ruled out a public bail-out for the company if GM fails to strike a deal.
GM said in February that it would sell Saab, or close it down in 2010 if it failed to find a buyer. Saab soon after filed for reorganisation in Sweden.
When cutting loose Saab, GM equipped it with a dowry of $500m, including about $150m to produce a version of its 9-5 model unveiled in September.
The company would not confirm yesterday how much cash it now had, but noted that it had cut its debt by 75 per cent during the reorganisation, which it exited on August 21.
Analysts said that GM would struggle to find a buyer for Saab, given the length a fresh negotiation would take with an investor, the Swedish government and the EIB.
"They can't find investors if [GM] are talking about pulling the plug on December 31," said Tim Urquhart, senior analyst with IHS Global Insight.
US financial investor Ira Rennert's Renco Group earlier this year expressed tentative interest, as did a group of Wyoming-based investors. Fiat also said it would acquire Saab as part of a now-shelved plan to take over Opel and merge it with Fiat Auto and Chrysler.
Saab's market share and sales have dwindled in recent years as its model portfolio aged, the byproduct of GM's financial problems in the US.
In Europe, Saab sold fewer than 24,000 cars in January to October of this year, a 59 per cent drop on a year ago. It sold slightly more than 98,000 worldwide last year - small volumes even for premium carmakers commanding higher prices.
In the event of a liquidation, Saab's manufacturing assets or intellectual property might be of interest to BAIC or another Chinese carmaker for use in their home market.
BAIC, which was talking to Saab about producing its cars in China before the deal collapsed, said yesterday that it was reviewing its options and remained interested in overseas assets.
"BAIC states that becoming more international . . . has always been our strategic focus."
"With regard to Koenigsegg's withdrawal, we will carefully evaluate this project anew and make appropriate arrangements."
A person close to rival Chinese carmaker Geely, which toured Saab's facilities early this year and is in talks to buy Volvo from Ford Motor for nearly $2bn, said it was "absolutely not" interested in buying the carmaker or its assets.
Source:ft.com/
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