Author: SKYNEWS

Pension funds are braced for a hit worth tens of billions of pounds as Michael Gove, the levelling up secretary, tries to salvage his ambition of overhauling Britain’s centuries-old property leasehold system.Sky News has learnt that the insurance and pensions industries believe that Mr Gove’s now-favoured option of imposing a £250 cap on ground rent and transitioning to ‘peppercorn’ levels over a 20-year period will cost in the region of £30bn. The figure is understood to mirror the Treasury’s internal estimate of the cost to investors, according to insiders.Mr Gove has been determined to overhaul what he describes as the…

Tesla has recalled more than 3,800 of its Cybertruck models following complaints that the accelerator pedal is at risk of getting stuck, US regulators have announced.The National Highway Traffic Safety Administration (NHTSA) had contacted the carmaker, founded and run by Elon Musk, about the issue earlier in the week. That was after a video came to light, on the billionaire entrepreneur’s X platform and TikTok, showing how a rubber cover attached to the accelerator could come loose, pinning the pedal down.It has since been watched millions of times on both platforms.Money latest: The ketchup swaps that could eliminate tablespoons of…

Taylor Swift’s latest album has been out for less than a day – but fans and critics alike are already deep into decoding the meaning of her somewhat cryptic lyrics.The pop icon’s mammoth project, The Tortured Poets Department, ended up being a secret double album, with the first part ending on a track simply titled Clara Bow. Unless you’re something of a Hollywood history buff, the reference may have been lost on you.So here’s what you need to know about Bow and more on how Swift referenced her and the possible reasons why.The original ‘it girl’ American actress Clara Bow…

A lawyer for the Post Office at the height of the Horizon IT scandal has told the public inquiry he feels “no pride” to be employed by the company.Rodric Williams, a civil law specialist who joined the organisation in 2012, told the hearing he was “truly sorry” for being associated with the “greatest miscarriage of justice we’ve seen”. A first day of evidence for the New Zealand national, now among three legal leads at the Post Office, saw Mr Williams admit a “bunker mentality” among staff in relation to the media’s coverage of the faulty Horizon IT system.Money latest: Bank…

The world’s first known combat between a human pilot and a fighter jet controlled by AI has been carried out in California, the US military has said.In a drill over Edwards Air Force Base, the pair of F-16 fighter jets flew at speeds of up to 1,200mph and got as close as 600 metres during aerial combat, also known as dogfighting. One was manned, while the other jet was a modified version of the F-16, called the X-62A, or VISTA (variable in-flight simulator test aircraft). Image: The AI-run plane in action. Pic: Kyle Brasier/USAF While in flight, the AI algorithm…

“An anthology of new works that reflect events, opinions and sentiments from a fleeting and fatalistic moment in time.”In her own words, Taylor Swift’s latest album The Tortured Poets Department is a product of her personal life – which is often played out in the most public way. Fans have already spent hours poring over her raft of new lyrics in the 31 new songs.Two hours after its release, the singer announced The Tortured Poets Department: The Anthology, which includes 15 additional new songs.From Kim Kardashian to Travis Kelce, here we take a look at who the lyrics might be…

There was a worse than expected performance for retail sales last month, defying predictions of a consumer-led pick up from recession for the UK economy.The Office for National Statistics (ONS) reported sales volumes were flat in March, following an upwardly revised figure of 0.1% for the previous month. It said sales at non-food stores helped offset declines at supermarkets.Sales of fuel rose by 3.2%.Money latest: Do solar panels work in the UK’s wet and cloudy climate? ONS senior statistician Heather Bovill said of the overall picture: “Retail sales registered no growth in March.”Hardware stores, furniture shops, petrol stations and clothing…

Taylor Swift has revealed her latest release is a “secret double album” – with 15 more tracks than fans were expecting.In a 2am surprise (around 7am UK time), the 34-year-old announced on social media that The Tortured Poets Department: The Anthology includes a second instalment. She wrote: “It’s a 2am surprise: The Tortured Poets Department is a secret DOUBLE album. I’d written so much tortured poetry in the past 2 years and wanted to share it all with you, so here’s the second instalment of TTPD: The Anthology. 15 extra songs. And now the story isn’t mine anymore… it’s all…

Rishi Sunak is to call for an end to the “sick note culture” in a major speech on welfare reform – as he warns against “over-medicalising the everyday challenges and worries of life”.The prime minister wants to shift the focus to “what people can do with the right support in place, rather than what they can’t do”. Mr Sunak also wants sick notes to be issued by “specialist work and health professionals” rather the GPs in order to reduce workloads.Politics latest: ‘Big questions’ for Sunak over claims against suspended Tory MPThe plans, which the government is now set to consult…

Police in Los Angeles have said they are investigating whether Kanye West was involved in an alleged battery.Officers were called to Sunset Boulevard around 12.30am on Wednesday after receiving reports of an incident, LAPD confirmed to Sky News’ US partner network, NBC News. West, also known by his rapper name Ye, was gone when police arrived.The alleged victim, an unidentified man, told officers that the US star punched him in the face multiple times, a police spokesman said.Milo Yiannopoulos, West’s chief of staff at his clothing and apparel company Yeezy, told NBC News in a statement that the incident happened…