Steinmetz, the Geneva Switzerland based diamond company, have signed a deal with McLaren to show off their spectacular jewels.

In previous years at Monaco, McLaren’s drivers have had their initials encrusted onto their helmets with diamonds, but Steinmetz have opted for a more hands on approach for the 2010 showpiece event.

Hamilton will have the number ‘08′ and Button ‘09′ in diamonds on their steering wheels to celebrate the drivers recent victories in Monaco in 2008 and 2009.

Time piece maker Tag Heuer has created a clever new promotional video using clips of Steve McQueen’s famous car movie, Le Mans.

The premise is a duel between the racing driver/hard man McQueen in his Gulf-liveried Porsche 917 and current F1 golden-boy Lewis Hamilton in his McLaren Mercedes.

Check out the clip below or click here to go to the Tag Heuer website.

F1 racer Lewis Hamilton has been stirring rumors of buying a Sunseeker 90 Yacht which is being finished in Portland, Dorset.

They said he was painting the 90-foot yacht black and silver silver to match his McLaren racer. The Sun even has a picture of the sleek black ship.

But Hamilton, on the contrary, seems to be denying all reports of having bought the Super Yacht worth £5million ($7million).