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Daily Mirror
26 minutes ago
- Daily Mirror
Liverpool to make next move in £125m Alexander Isak transfer chase on one condition
Liverpool have opened talks over a move for Alexander Isak, who Newcastle insist is not for sale and would cost more than £125million to prise away from St James' Park Liverpool are ready to launch a record-breaking bid for Alexander Isak if they receive encouragement from Newcastle. Isak, 25, has rocketed to the top of the Reds' summer shopping list as his long-term future at St James' Park remains uncertain. Newcastle are adamant that their star striker is not for sale, with three years left to run on his contract. Eddie Howe's side have reportedly been trying to tie Isak down to a new and improved deal which would help deter interest. Rumblings of Liverpool's admiration became louder this week when it emerged that the Premier League champions had made an approach for Isak, who'd cost more than £125million. Despite that British-record asking price, Liverpool's intentions are clear. According to the Mail, the Reds will pursue a deal if they receive encouragement that a move is on the cards. Isak remains happy on Tyneside, despite talks over a new contract stalling earlier this year prior to the departure of director of football Paul Mitchell. The former Real Sociedad starlet is currently with Newcastle's squad in Austria for their pre-season training camp and could soon be joined by a new team-mate. Eintracht Frankfurt hotshot Hugo Ekitike - who's also of interest to Liverpool which could muddy the waters - has already been the subject of a £70m bid from Newcastle. It's added that Frankfurt are demanding £86m for the Frenchman, who Newcastle came close to signing in 2022 before he chose to join Paris Saint-Germain. It didn't work out at PSG, so Ekitike moved to Frankfurt on loan for the second half of the 2023-24 season. After a promising spell, Eintracht signed the 23-year-old permanently for just £14.3m and he scored 22 goals as well as registering 12 assists in 46 appearances last term. Newcastle want Ekitike to play alongside Isak, who's Liverpool's first-choice target as they bid to sign a new striker this summer. How much should Liverpool be willing to pay for Alexander Isak? Have your say in the comments section. Arne Slot and Co. have discussed a number of options both at home and abroad. Aston Villa's Ollie Watkins, who Manchester United have been linked with, and Yoane Wissa of Brentford, a target for Nottingham Forest, are claimed to be on their shortlist. Victor Osimhen was also mentioned during talks with Napoli before the Italian champions pulled out of a move for Darwin Nunez. Even United wantaway Marcus Rashford was a name which was reportedly floated during one conversation at Anfield.
Auto Car
2 hours ago
- Auto Car
Chinese car firm GAC confirms UK launch!
State-owned car maker – a partner of Honda and Toyota – plans to undercut established EVs here Open gallery The GAC Aion UT is billed by its maker as "China's version of the Mini" Aion UT is slightly longer and wider than the Volkswagen ID 3 The hatchback was designed at GAC's European base in Milan, Italy Aion UT will arrive alongside Aion V crossover Close GAC, one of China's biggest car makers, will launch in the UK early next year with an electric hatchback and SUV aimed squarely at Volkswagen's ID 3 and ID 4. The firm's announcement confirms Autocar's exclusive report that it was planning an imminent launch here, with the firm viewing the UK as an especially bountiful growth market for EVs. As previously reported, the joint-venture partner of Honda and Toyota – which sold just over two million cars last year – plans to undercut established brands on price to attract buyers. The smaller of its first two models is the Aion UT hatchback, billed as 'China's version of the Mini'. Designed to suit city commuters, it's slightly longer and wider than the ID 3 – a decision informed by Chinese buyers' expectations of interior space. It is priced from the equivalent of just £7500 in its homeland but is expected to cost significantly more in the UK, due to the cost of shipping the car across the globe, plus taxes. But, according to GAC COO Thomas Schemera (who was previously a leading figure at Hyundai's N performance division and at BMW before that), the Aion UT must come in at a competitive price to generate any traction in a difficult market. 'From a price positioning point of view, to be higher than other competitors which have a well-established brand, that would be very challenging,' he said. 'Let me put it this way: we have to be smart and clever here to put our morals on the streets and also to simultaneously build the brand, not just with the product presence but supported by campaigns. "As long as our brand value is on such a low level, we have to do everything to increase it. 'With this mechanism, you can also increase the price step by step for your products. But first of all, you have to build confidence.' To that end, the Aion UT is expected to land in the UK in the mid-to-high £20,000s. This would have it significantly undercutting the ID 3 (£30,795), aligning it more closely with the MG 4 EV and upper versions of the Renault 5. UK specifications have yet to be confirmed, but in China, it employs a front-mounted 134bhp electric motor and a 60kWh lithium-iron-phosphate (LFP) battery, yielding a range of 267 miles. Inside, the dashboard is dominated by a 14.6in infotainment touchscreen, which is used to operate key functions such as the climate controls. There is also an 8.8in digital instrument panel showing critical information such as the car's speed and range. In keeping with a Chinese trend, the front seats can be folded flat to form a bed-like arrangement with the rear seats. The hard plastics throughout the interior are moulded to lift perceived quality. For example, the windowsills give the impression of stitched leather, while the backing of the doorcards has a geometric finish, as if to mimic carbonfibre. Arriving alongside the Aion UT is the Aion V, a Tesla Model Y and Skoda Enyaq-rivalling electric SUV revealed at last year's Paris motor show. It gets a 224bhp motor and a 90kWh LFP battery, giving a range of 324 miles. In addition to EVs, GAC intends to launch a range of hybrids , plug-in hybrids and 'in some cases' pure-ICE cars. The cars will be sold in the UK through a joint-venture with Jameel Motors, currently responsible for retailing Farizon electric vans and soon to add Geely-branded cars to its portfolio. Q&A: Thomas Schemera, chief operating officer, GAC Motor What sets GAC apart from its rivals? 'First and foremost, our premium quality. This is nothing outstanding, because every customer expects premium quality, but we have run joint ventures with Toyota and Honda and we learned the ropes from the beginning. If you take a walk through our facilities – especially for Aion [models] – and have a look at our production, we really know how lean production works. Quality is not just a word; we take it very seriously from a customer perspective.' What are your expectations for GAC's European launch? 'If you enter a marketplace and your brand awareness is low, you have to build brand awareness. The second step is to interact with customers – walking through this valley of tears, so to speak. You have to invest and you have to be absolutely aware that you cannot make money from the very beginning: this is impossible.' Why headquarter your design operations in Milan specifically? 'I'm a big fan of globalisation. It's very, very important from a Chinese perspective to understand globalisation, to want to know what our consumer benefits from across the world, and we have a lot of diversity. Not everything that works in China can be shifted across to another market, and that has to be very clearly understood - and vice versa.' As well as fleshing out plans for global expansion, GAC has shared its vision of a personal luxury car inspired by the legendary Bugatti Type 57SC, Concorde and Chanel handbags. The Chanel inspiration manifests in the Hyperluxury concept's livery: a black exterior largely free of branding (limited to the shrouds on the wing-mounted pop-up headlights) is contrasted against a bright orange interior, with a huge GAC logo embossed into the dashboard. The seats are inspired by the minimalist look of the famed Le Corbusier LC4 lounge chair, first produced in 1928, and contain zero heating or cooling elements. The driver is instead supposed to wear a large jacket containing these functions – a reference to the bold outfits worn by motorists in open-top cars throughout the '20s and '30s. Instead of a traditional key, the car is opened and started using a gold ring that the driver can wear as a piece of jewellery. GAC executives added that the concept was designed without the assistance of artificial intelligence (AI) tools. Stephane Janin, design director for GAC's Milan studio, explained: 'We thought it should be human-made, because we compare it with luxury goods, and we thought that's a value we should work on for this very specific project. It was interesting for us to ask ourselves: 'what does hyperluxury mean nowadays?'' GAC doesn't plan to produce the car, however. Join our WhatsApp community and be the first to read about the latest news and reviews wowing the car world. Our community is the best, easiest and most direct place to tap into the minds of Autocar, and if you join you'll also be treated to unique WhatsApp content. You can leave at any time after joining - check our full privacy policy here. Next Prev In partnership with
The Independent
2 hours ago
- The Independent
Bridging loans forecast to hit £12 billion in 2025
West One Loans is a Business Reporter client Bridging loans are booming as borrowers seek speed, flexibility and short-term funding. Bridging lending saw record levels of growth in 2024, with data from the Bridging & Lending Developers Association (BDLA) showing that bridging completions hit a new record high of £2.30 billion during the final quarter of last year. The sector continues to boom, following a Q4 performance that saw the total loan book exceed £10 billion for the first time, with this figure forecast to hit £12.2 billion in 2025. This marked a 28.6 per cent increase on the previous quarter alone, pushing total completions to £7.34 billion for the year – up from £5.76 billion in 2023. Based on historic market trend data, West One Loans forecasts that this figure could hit £9.46 billion in 2025. As a result, the size of overall loan books exceeded £10 billion for the first time (£10.3 billion), with West One Loans also forecasting that this figure could top £12.2 billion by the end of the year. So what are the benefits of bridging? West One Loans has looked at the top seven reasons behind the current bridging sector boom. Speed and opportunity The most important factor is speed, with bridging loans taking an average of 38 days to arrange in Q4 2024. This provides an ideal solution for those who need to make quick decisions in order to take advantage of the opportunities on offer in the current market – for example, purchasing uninhabitable properties that a traditional lender may not finance. Flexible lending criteria and multiple uses Bridging lenders put a greater focus on asset value and exit strategy rather than credit history, and are not bound by the same laborious application and approval processes of conventional lenders. Bridging lending can also be used for multiple reasons, such as business needs, tax liabilities, debt consolidation or refurbishment. Short-term solutions Bridging finance is ideal for covering financial gaps and is ideal for scenarios where funding is needed for a purchase or renovation before an existing property can be sold. Higher LTV ratios Some bridging lenders offer up to 75 per cent loan-to-value, making it a far easier path to obtain significant funding. Customisable terms As with the flexible lending criteria, borrowers are able to negotiate terms to suit their individual needs, from custom interest payments to the repayment schedule itself. Again, this provides the flexibility that many borrowers require when it comes to traversing what has become an increasingly difficult landscape. Multiple users Bridging is accessible to a wide range of borrowers, from homeowners and property developers to landlords and business owners. This accessibility and the ability to tailor a bridging loan to the individual needs of the borrower is a driving factor behind the current boom. Exit strategies can reduce risk Finally, a well-planned exit strategy can make bridging a safe and effective solution, whether it's refinancing or selling a property. 'We've seen an incredible level of growth across the bridging sector over the past year, and this really highlights the vital role the sector plays within the UK property market, particularly as the landscape has become increasingly more turbulent and interest rates have climbed,' says Co-Head of Short-Term Finance at West One Loans, Thomas Cantor. 'It's fair to say that bridging has very much become a mainstream product and a vital tool in a developer's armoury. 'This is down to the many benefits the sector offers, not least the speed and flexibility a bridging loan can offer when securing short-term finance, as well as the fact that there are no early repayment penalties. 'It's these benefits that are enabling everyone, from property developers to landlords and homeowners to business owners, to progress with their plans without the restrictions that come via a more conventional lender – and we only anticipate that this current trend will intensify over the coming year.' Data tables and sources
