Manchester United suffered a humiliating 4-0 defeat at Brentford in the Premier League on Saturday - and wantaway striker Cristiano Ronaldo was clearly furious.
United were beaten at home by Brighton in the season's opener last week, but this time the display was even more painful for new United manager Erik ten Hag.
First-half goals from Josh Dasilva, Mathias Jensen, Ben Mee and Bryan Mbeumo inflicted another damaging defeat on United, who were hoping to bounce back after a poor last season, finishing sixth.
Ronaldo cut a frustrated and angry figure as the goals went in. The Portuguese has already told the club he wants to leave in pursuit of Champions League football, and this match will hardly have helped change his mind.
Ten Hag has found himself plunged into crisis after the drubbing left his side at the foot of the Premier League table and he has become the first manager to lose each of his first two games in charge of United since John Chapman in November 1921.
Ten Hag, speaking to the BBC, said: "It is my responsibility to give an explanation. It is clear the performance was really poor. When you make mistakes like this, you can't win the game.
"It is about taking responsibility on the pitch, you cannot make such mistakes at our level. We had to deal with the disappointment and bring the belief on the pitch.
"You have to be ready for a game and be ready for the battle as individuals and as a team. We have to push each other and bring the demands in because it is not good.
"It is clear we need players but I don't want to think about that in this moment. The good players we had should have been better.
"I hoped for a better start, but still I have to believe because I have seen good things but the two games from now are disappointing."
For the first time in the Premier League era, the Red Devils found themselves four down at half-time and deservedly so.
Goalkeeper David De Gea gifted the first two to Dasilva and Jensen before Mee helped himself to a third and Mbeumo hit a stylish fourth on a chastening afternoon for the visitors, but a magnificent one for the Bees.
De Gea said afterwards: "I cost three points for my team."
Brentford striker Ivan Toney, speaking to Sky Sports, said: "The hard work and togetherness today showed what we're about. We thoroughly deserved the three points.
"It doesn't stop here. We have to go again next week against Fulham and do the same again.
"It was just hard work. We knew the high press would affect them. It was clear to see that if you work hard, you get the result.
"We know they have great talent in there and have some players who can change the game. When you work like we did today and run all over them, you get a result like we did."
Brentford midfielder Mathias Jensen added: "It felt like we were on top of everything. They couldn't cope with our pressure, our second balls, our intensity. You could see they were struggling."
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
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Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
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PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
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Barcelona 4 (Messi 23' pen, 45 1', 48', Busquets 85')
Celta Vigo 1 (Olaza 42')
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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UAE currency: the story behind the money in your pockets
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