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The Independent
22 minutes ago
- The Independent
Mimi Rhodes makes unusual hole-in-one at Women's Open
England's Mimi Rhodes found an unusual way to score low on a tough day by sinking a remarkable hole-in-one in her final round at the AIG Women's Open. High winds made for difficult conditions at Royal Porthcawl on Sunday but, with a fortuitous ricochet off her playing partner's ball, Rhodes aced the par-three fifth. Rhodes, who began six shots off the overnight lead of nine under held by Miyu Yamashita, had the benefit of following Stephanie Kyriacou off the tee. The Australian went close to a hole-in-one herself with a shot that hit the green and came to rest inches from the cup. Rhodes then played a very similar shot and, luckily for her, Kyriacou's ball was handily placed for it to deflect in off. Kyriacou was still able to hole her short putt for a deserved birdie. Meanwhile, Yamashita birdied the fourth to open up a three-shot lead as nearest challenger Kim A-lim dropped back to seven under following back-to-back bogeys. Rhodes' compatriot Charley Hull then cut the gap to two with consecutive birdies at the fifth and sixth.
Reuters
23 minutes ago
- Reuters
China welcomes 183 Brazil coffee sellers in wake of US tariffs
SAO PAULO, Aug 3 (Reuters) - China has approved 183 new Brazilian coffee companies to export products to the Chinese market, according to a social media post of the Chinese embassy in Brazil on Saturday. The measure, a boon to local exporters after the United States government's announcement of steep tariffs on Brazilian coffee and other products, took effect on July 30. The new Chinese export permits are valid for five years, according to the post. The U.S.'s 50% tariff on some Brazilian products will begin on August 6. The levy represents a challenge for commodities traders and Brazilian coffee exporters, who need to find alternatives for the roughly 8 million bags sold to U.S. coffee processors every year. China is Brazil's top trade partner overall while the U.S. is a big buyer of Brazilian beef and orange juice, among other products. In June, Brazilian coffee exports into the U.S. totaled 440,034 60-kilo bags, 7,87 times more than Brazil's sales into China of nearly 56,000 bags that month, according to trade data compiled by industry lobby Cecafe. The Brazilian ministry of agriculture and Cecafe did not have an immediate comment. China's customs authority could not be immediately reached as it was outside the business hours. Brazil supplies about a third of the U.S. coffee demand each year, a trade valued at $4.4 billion in the 12 months ended in June.
Telegraph
23 minutes ago
- Telegraph
Millions of drivers could share up to £18bn from car finance scandal
Millions of drivers could be in line to share up to £18bn in compensation after the City regulator said it would launch a consultation on the motor finance scandal. The Financial Conduct Authority (FCA) said drivers that could be paid as early as next year, with lenders on the hook for any redress scheme. It comes after a Supreme Court decision on Friday on cases in which the FCA had intervened. Many companies that provided loans for people to buy cars failed to disclose details about the commission they had paid to dealers up until a crackdown in 2021. While the Supreme Court largely overturned a ruling that these commissions were illegal, it said that in some circumstances lenders had acted unfairly. The FCA said most motorists were unlikely to receive more than £950, but that the overall cost of the compensation scheme for lenders and other finance providers could be between £9bn and £18bn. This is much lower than the £44bn some had feared if the court had ruled against them. However, it is above estimates after last Friday's ruling, and better than many motorists might have hoped for, with some experts having warned that they could expect very little compensation after the ruling. A total 31.7m motor finance agreements were issued between 2007 and 2021, with so-called 'discretionary commission arrangements' used in almost half of them. Nikhil Rathi, chief executive of the FCA, said: 'It is clear that some firms have broken the law and our rules. It's fair for their customers to be compensated. 'We also want to ensure that the market, relied on by millions each year, can continue to work well and consumers can get a fair deal. 'Our aim is a compensation scheme that's fair and easy to participate in, so there's no need to use a claims management company or law firm. If you do, it will cost you a significant chunk of any money you get. 'It will take time to establish a scheme but we hope to start getting people any money they are owed next year.' The FCA's announcement is likely to affect banks' share prices when markets open on Monday morning. The regulator had been rushing to put out a statement before trading began. The authority said consumers who had already complained to their lender did not have to do anything, while those who had not yet complained should do so now. It warned motorists against using a law firm or claims management company, which could take 30pc of any payout.
