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Volvo Ocean Race sailor lost in sea

Richard Brisius, the President of the Volvo Ocean Race, informed that one of the race’s sailors, John Fisher, from Team Sun Hung Kai/Scallywag, fell overboard and is now presumed to have been lost at sea. The Sun Hung Kai/Scallywag team performed an exhaustive search for several hours in extremely difficult weather conditions, but they were unable to recover their teammate.

EU takes legal action against three members over VAT on yachts

The European Commission decided to send letters of formal notice to Cyprus, Greece and Malta for not levying the correct amount of Value-Added Tax on the provision of yachts, as this could generate “major distortions of competition and featured heavily in the coverage of last year’s ‘Paradise Papers’ leaks.”

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