ECB Intensifies Scrutiny of Banks' Exposure to Private Markets
The European Central Bank is escalating its scrutiny of lenders' exposures to private markets amid concerns that the fast ascent of related asset classes raises substantial new risks.
The watchdog has signaled that it's sending letters to executives at certain banks cautioning them on their practices in financing private funds, according to people familiar with the matter.
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Manchester City monitoring Gianluigi Donnarumma's contract talks with PSG
Manchester City are lurking in the background as Gianluigi Donnarumma holds contract talks with Paris Saint-Germain after winning the UEFA Champions League title, as per a new report. The 26-year-old was in net for the high-flying French outfit who cruised their way to a sensational treble on Saturday courtesy of a stylish 5-0 battering of a meagre Inter side at the Allianz Arena. Advertisement Donnarumma has lifted his maiden UEFA Champions League title after years of failure in Paris and has been one of Luis Enrique's most eye-catching players in a team that has conquered all before itself en route to Ligue 1 and European glory this term. However, the Italy international, who received huge plaudits for his heroics in the 2021 European Championship penalty shootout win over England, faces an uncertain future at the Parc des Princes as he enters the final 12 months of his contract. Manchester City have recruited Hugo Viana to take over from Txiki Begiristain as director of football in the summer and are likely to enter the market for a new goalkeeper as Ederson continues to draw interest from Saudi Arabia amidst uncertainty over the future of Stefan Ortega Moreno. Advertisement Pep Guardiola is eyeing four to five first-team additions ahead of the 2025-26 campaign and Manchester City chairman Khaldoon Al Mubarak recently outlined the club's plans to announce all new signings in time for the FIFA Club World Cup, which begins in mid-June. City are closing in on deals to sign Lyon's Rayan Cherki and AC Milan's Tijjani Reijnders to begin their squad overhaul as Kevin De Bruyne nears a two-year move to Napoli after being told he does not feature in the club's plans next season. Guardiola will also have a new full-back in his ranks as Kyle Walker searches for a new club after returning from a loan spell at AC Milan, with Manchester City making it clear they are in the market for a new wide defender as they look to sell their former club captain. As per a new report by Gianluca Di Marzio, Manchester City are waiting for Gianluigi Donnarumma to make a decision on his future at Paris Saint-Germain as they look to bolster their options in goal after a disappointing 2024-25 campaign. Advertisement Ederson wanted to leave for Saudi Arabia last summer but a transfer failed to materialise and Ortega Moreno has not convinced Guardiola to take over as number one should the former leave the 2023 treble winners after eight seasons at the Etihad Stadium. It is understood that none of PSG's current renewal offers have met Donnarumma's financial expectations and Manchester City remain in a strong financial position after a few years of lucrative academy and first-team sales should they pursue their interest in the Italian shotstopper. It remains to be seen if City do seriously target Donnarumma but after keeping a clean sheet in the UEFA Champions League final victory over Inter Milan, it is likely that all parties reach a middle ground and shake hands to tie the 26-year-old down to fresh terms in the French capital.
Yahoo
an hour ago
- Yahoo
How this European carmaker is getting more Americans to drive convertibles
What matters more to drivers these days? Is it technology, horsepower or efficiency? Mercedes-Maybach is betting on lifestyle. Its vehicles -- posh, regal and extravagant -- inhabit the same realm as Bentley and Rolls-Royce. Drive one on Germany's Autobahn, and you'd be astonished at the power and speed. Daniel Lescow, the head of Mercedes-Maybach, said customers are looking to "express their lifestyle and individuality," which may be satisfied by brand's latest status symbol, the SL 680, a glamorous two-seater that launched last year and arrives at U.S. dealers this summer. The SL, which will be priced above $200,000, comes in two curated design concepts, "White Ambience" or "Red Ambience," yet more than 50 exclusive colors are available to choose from at the factory. Plush interiors, premium materials and metal knobs and buttons have become standard in ultra-luxe autos. So Maybach went a bit more extreme, stamping the company's recognizable logo all over the hood, a labor-intensive printing process that involves four coats of clear lacquer and three hand-sanded coats of paint. Remove the lavishness, and the SL is also a true sports car, with a 577 horsepower biturbo V8 powerplant. The convertible's specially tuned suspension gives owners a softer or firmer driving experience, depending on the location and one's state of mind. Lescow recently spoke to ABC News about the SL 680, the sportiest model in the marque's long history, and how he's growing brand awareness in the crowded luxury space. The interview below has been edited for space and clarity. Q: You said you want to make the brand "more desirable." Please explain. A: There's various dimensions to it. One is the product image. The second dimension is the way we connect with our customers and potential customers in retail spaces. One by one we're building these Maybach lounges -- dedicated spaces -- globally for customers to learn more about the cars and brand aesthetics. We have a very elaborate location in India. At one event in Vienna there was a private concert with [pianist] Lang Lang, who played the piano for our most important customers. Another dimension is our collaborations. For example, we're working with a [German] silverware company on champagne flute holders. It's important the brand is centered around the lifestyle of our customers. Q: Convertibles are a niche market in the U.S. How difficult is it to sell convertibles to American drivers? A: It is not so much about the location or the nationality. It's about the individual customer we want to approach. We do see significant potential in the American market. It's an important market for Maybach, clearly. We recently opened a massive Maybach presence at the Mercedes-Benz dealership in Manhattan. We do see strong interest from the American market in open top two-seaters. Last year, we chose Pebble Beach as the global world premiere for the Maybach SL Monogram Series. Q: Who is the Maybach customer? Is it the traditional Mercedes-Benz customer or are you pursuing Bentley and Rolls-Royce owners? A: The customers are as individual as our cars. Many of them have a number of cars in the fleet. Our customers range from entrepreneurs to artists to superstars ... what many of them are looking for is a way to express their lifestyle and individuality. Q: Why doesn't the SL have the brand's venerable V12 engine under the hood? And how comes it's not electrified? A: We are extremely happy to have the V12 in the Mercedes-Maybach S 680, the flagship offering. When we designed the SL, it was very clear that it's a sports car. And it will remain as the Maybach sports car -- sporty yet elegant. The balance, the agility and the way the V8 behaves ... it's the perfect engine for this car. For electric driving, we do have the Mercedes-Maybach EQS SUV, which is fully electric. That car is completely different. The electric drivetrain really adds to what's important to Maybach. It's the most comfortable and quiet ride you can imagine. Q: So there was no discussion about making the SL an electric convertible? A: For this car, no. We wanted to have the characteristic of a sports car with all the emotions around it. MORE: Want an electric vehicle but not a Tesla? Here are some great alternatives Q: Why would a customer choose this model over the AMG SL 63 Roadster? A: The SL 680 is clearly designed for sporty driving but with all the Maybach ingredients: comfort and opulence. Customers looking for an even sportier car would clearly opt for the AMG. The cars are different from the ways they look and behave -- they address different customer needs. Q: How has the brand changed under your leadership? A: It's a privilege to work with such a legendary brand. We launched two new cars, doubling the portfolio from two cars to four with the SL. We have seen brand awareness increasing around the world -- that is something that's very important. I can't wait to see what the future will bring. Q: There's still uncertainty about tariffs and costs -- how does this factor into your product planning? Do wealthy customers still spend money in these unpredictable times? A: There are some uncertainties. At the same time, sales volume will go up and down. And that's natural. For us, it's more important that we build a solid base for the brand and that we continue to build brand awareness. With the right offerings, I have do doubt that Maybach will be successful. How this European carmaker is getting more Americans to drive convertibles originally appeared on
Yahoo
2 hours ago
- Yahoo
Alpha Kappa Alpha Charters New Chapter In The United Kingdom
Alpha Kappa Alpha Sorority, Inc. is exporting a Black American tradition to the U.K. It officially charted the first AKA chapter in the country, which will be known as Alpha Delta Alpha Omega Chapter, on Friday. It is the 19th chapter of AKA's international mission. Technically, there was a precursor to the AKA's presence in London with the former Tau Sigma Omega Chapter, which was dissolved in 2006. AKA inaugurated the new chapter in London on Friday. Alpha Delta Alpha Omega Chapter includes 25 professional women who work in fields like real estate, finance, medicine and business. 'History has been made across the pond!' the sorority wrote in an Instagram post. 'Congratulations to the charter members of Alpha Delta Alpha Omega Chapter of Alpha Kappa Alpha Sorority, Incorporated® on your official chartering in London, United Kingdom!' Before its official induction, the interest group was titled the Royal Pearl Society. They have been working with local organizations to help communities in need this past year, according to Watch the Yard. The group spearheaded initiatives such as the distribution of 350 Childhood Hunger Power Packs, assembling over 200 Blessing Bags, organizing an eight-week entrepreneurship training program for women, investing over £3,000 in Black-owned businesses and volunteering over 200 hours. 'These women are already making an enormous difference in and around London,' Carrie J. Clark, AKA's International Regional Director. 'They are an amazing group of servant leaders who I am confident will expand Alpha Kappa Alpha's legacy of service in the Greater London area for years to come.' Alpha Delta Alpha Omega Chapter will keep focusing on similar initiatives after its official induction. They plan on organizing activities like distributing children's books by Black authors, as well as collecting professional attire for women re-entering the workforce. Although sororities are an American tradition, AKA established international chapters early on, according to their website. The first one to be established overseas was the AKA chapter in Liberia, which was chartered in 1954. AKA then opened another international chapter in Nassau, Bahamas, in 1963, in the U. S. Virgin Islands in 1978, and in Germany a year later. Other countries with international chapters include Japan, South Korea, Canada, South Africa and more. The sorority has led global initiatives like efforts to reduce poverty in sub-Saharan African countries, building schools in South Africa after apartheid and service missions to support women and children in Liberia. The organization now counts over 365,000 members across 13 countries and post Alpha Kappa Alpha Charters New Chapter In The United Kingdom appeared first on Blavity.
