Author: SKYNEWS

Young homebuyers are being forced to gamble with their retirement prospects by taking on ultra-long mortgages, according to a former pensions minister.Sir Steve Webb described data – supplied by the Financial Conduct Authority to the Bank of England – as “shocking”. It suggests that more than one million new mortgages have been issued over the past three years with end dates beyond the state pension age.The ex-Liberal Democrat MP, who is now a partner at the consultancy firm LCP, voiced fears that borrowers could be forced to raid their pension savings to clear their mortgage in a worst-case scenario.Sir Steve…

Wales has become the first UK nation to join the metaverse.The launch of Wales in the metaverse hopes to give virtual visitors from all over the world the chance to see what the country has to offer. Tourism body Visit Wales has created the immersive experience with the aim of platforming some of Wales’s experiences and attractions.Around 600 million people visit the metaverse each year, across a number of platforms.The Welsh metaverse is being hosted on platform Spatial. Organisers say they believe Wales is also the first European nation to use this approach to market itself as a tourism destination.The…

Earth has been rocked by the first extreme geomagnetic storm in two decades, creating a spectacular light show in UK skies and other parts of the Northern Hemisphere – but also posing a threat to communication networks, navigation systems and power grids.Elon Musk’s Starlink, which owns around 60% of the estimated 7,500 satellites currently in orbit, providing internet coverage around the world, has warned of a “degraded service” as a result of the phenomena. Image: Edinburgh. Pic: PA It was the first G5 or strongest rated geomagnetic storm since 2003, which caused blackouts in Sweden and damaged transformers in South…

Sam Rubin, a veteran Californian entertainment reporter who also worked for ITV, has died at the age of 64.Los Angeles TV station KTLA called the reporter “a giant in the local news industry”, as they paid tribute. “His laugh, charm and caring personality touched all who knew him,” the station added.”Sam was a loving husband and father: the roles he cherished the most.”The US veteran journalist “regularly broadcast live” into ITV’s This Morning over the years. X This content is provided by X, which may be using cookies and other technologies. To show you this content, we need your permission…

Henry Birch, the former boss of Rank Group, is among the candidates vying to run Entain, the FTSE-100 owner of Ladbrokes.Sky News has learnt that Mr Birch is one of a small number of candidates being considered by Entain to replace Jette Nygaard-Andersen as its permanent chief executive. The recruitment process comes at a challenging time for Entain, which has been beset by boardroom upheaval and regulatory difficulties in various international markets.Its stock has halved in the last year, leaving it with a market capitalisation of just under £5bn.This weekend, sources close to the company confirmed that Mr Birch was…

The beleaguered Co-op Live arena in Manchester has confirmed it will open on 14 May with rock band Elbow.The UK’s largest indoor entertainment venue postponed its opening show for the third time last week after part of its ventilation and air conditioning system fell to the ground from the ceiling during a soundcheck. In a statement on Friday, Co-op Live said it was “satisfied” after an inspection found the issue was an “isolated manufacturing default”.It read: “In consultation with Manchester City Council, responsible authorities, and wider stakeholders, we are satisfied with the process and outcome of the investigation identifying the…

The UK economy is no longer in recession, according to official figures.Gross domestic product (GDP) grew by a better-than-expected 0.6% between January and March, the Office for National Statistics (ONS) said. Economists had predicted the figure would be 0.4%.Prime Minister Rishi Sunak said it showed the economy had “turned a corner”.He told Sky News’s Ed Conway: “I am pleased that while there’s more work to do, today’s figures show that the economy now has real momentum, and I’m confident that with time, people will start to feel the benefits of that. “We’ve had multiple months now where wages are rising,…

Skies over the UK were turned shades of pink and green as the Northern Lights produced incredible displays for skygazers.The impressive Aurora Borealis, usually only visible from northern parts of the British Isles, was visible across large parts of the UK overnight, including Scotland, Wales, Northern Ireland and, unusually, southern England. The display was triggered after America’s National Oceanic and Atmospheric Administration (NOAA) issued its first severe solar storm warning since 2005 yesterday as a huge geomagnetic storm raced towards Earth.The NOAA said the G5 geomagnetic storm, which is considered extreme and is the strongest level of geomagnetic storm, hit…

Dearest gentle reader, it has been a while since our last visit to the ton and this time around, our wallflower Penelope Fetherington is about to bloom.Played by Derry Girls’ Nicola Coughlan, the close friend of the Bridgerton family just so happens to be the anonymous writer of high society’s gossip column, Lady Whistledown. Season three focuses on the love story between her and Colin Bridgerton, played by Luke Newton.”I really do feel parallels between what our characters go through and how we felt as actors on the show,” says Newton about taking on the leading role with Coughlan by…

The owner of British Airways has reported a sharp rise in profits amid soaring demand for trips and a fall in the cost of fuel.International Airlines Group (IAG) said its operating profit for the first three months of the year was €68m (£58.5m) – above expectations and up from €9m (£7.7m) during the same period in 2023. The company, which also owns Aer Lingus, Iberia and Vueling, said earnings had soared thanks to strong demand, particularly over the Easter holidays.It said fuel costs had also dropped almost 5% – compared to the same period last year – due to lower…