Author: SKYNEWS

Poor software and bias toward making only small, sequential changes is one of the reasons economic forecasters at the Bank of England failed to predict and prepare for the cost of living crisis, brought about by high inflation, according to a “once in a generation” review.The review announced last year was undertaken by the former head of the US central bank, known as the Fed, and said the quality of the Bank’s economic expectations “deteriorated significantly in the past few years” due to out of date software and “excessive incrementalism”. Economic shocks ‘by their nature difficult to forecast’Though the “unusually…

The government should use TikTok to help combat misinformation directed at young people, a group of MPs has said.Members of the cross-party Culture, Media and Sport Committee said ministers need to adapt to new apps and platforms that appeal to those who are increasingly turning away from traditional news sources. The call comes despite the app being being banned from official electronic devices and the UK Parliament’s network.Politics live: Rishi Sunak vows to secure high-paid jobs for veterans According to data from Ofcom, one in 10 people aged between 12 and 15 cite TikTok as their main source of news,…

Perrie Edwards has said that she’s never lived with her partner of eight years, Alex Oxlade-Chamberlain.The former Little Mix star is engaged to the ex-Liverpool footballer and they share a son together, two-year-old Axel. But she recently admitted that they have never lived together while speaking on this week’s Jonathan Ross Show on ITV1 and ITVX.Her partner is currently living and playing football in Turkey, with Edwards in the UK as she launches her solo music career while looking after Axel.She said: “I can’t lie, it is hard. When he was playing for Liverpool and based in Manchester, it was…

A former Post Office boss has said he wanted “most strongly” to record his personal apology to branch managers impacted by the Horizon IT scandal.As managing director of the group from 2006 to 2010, Alan Cook was at the helm when about 200 prosecutions were brought against subpostmasters. He said he was “unaware” it was the Post Office that had brought criminal proceedings.Hundreds of people were wrongly convicted of stealing after bugs and errors in the Horizon accounting system made it appear as though money was missing at their branches.Victims faced prison and financial ruin, others were ostracised by their…

NASA has asked to help in a new search for the Loch Ness monster.The Loch Ness Centre has urged the space agency to lend its expertise in a fresh hunt for the legendary creature. Last year, one of the biggest searches of Loch Ness in the Highlands concluded with a hydrophone capturing loud underwater noises and several potential sightings.The latest search will place on the 90th anniversary of Sir Edward Mountain’s expedition from 30 May to 2 June.Since that first expedition in 1934, the Watchers of the Monster, there have been over 1,156 sightings recorded on the official Loch Ness…

Hollywood superstar Leonardo DiCaprio has joined Scottish environmentalists in urging ministers to declare the country a rewilding nation.The American actor took to Instagram to share the message of the Scottish Rewilding Alliance with his 62.1 million followers. The alliance is a coalition of more than 20 nature organisations urging the Scottish government to declare the country the first rewilding nation in an effort to boost conservation strategies.The Oscar-winning actor wrote: “The Scottish Rewilding Alliance is urging the Scottish government to declare Scotland a rewilding nation, committing to nature recovery across 30% of the land and seas to benefit nature, climate,…

As global satellite giant Viasat opens its new international headquarters in London, Ian King is joined by the company’s president Guru Gowrappan.Britain’s night-time economy has struggled to recover since the pandemic but one entrepreneur is betting on its revival. Mexican-Japanese restaurant brand Los Mochis will tonight open a 14,000 square foot site at Broadgate Circle in London. Ian speaks to its founder Markus Thesleff.Plus Mimo, a financial management software company, says it has raised more than £15m to support its launch.Henrik Grim, co-founder and chief executive of the company, explains what they hope to achieve.:: Listen and subscribe to The…

A migraine pill which could change the lives of thousands of people who suffer from the “incredibly debilitating” condition should be made accessible on the NHS “swiftly”, a charity has said. Atogepant – sold under the brand name Aquipta and made by AbbVie – has been given the green light for NHS use under new final draft guidance from the National Institute for Health and Care Excellence (Nice). Anyone who experiences at least four migraine days a month and has tried at least three other treatments but found no relief, will be eligible for the once-daily pill. It means some 170,000…

Harry and Meghan are set to be executive producers on two new Netflix shows, the streaming giant has announced.One series will explore “the joys of cooking, gardening, entertaining and friendship”, while the other will give “unprecedented access to the world of professional polo”. They will be produced by their company Archewell Productions – with the names and release dates of both programmes set to emerge in the coming months. Please use Chrome browser for a more accessible video player 0:33 March: Meghan back on Instagram After stepping down from royal duties, the Duke and Duchess of Sussex signed a deal…

The UK economy has grown slightly for the second month in a row, official figures show. Gross domestic product (GDP) grew just 0.1% in February, the Office for National Statistics (ONS) said. It’s another signal that the UK economy is working its way out of recession.Follow latest: At what age do you reach peak earnings?Growth of 0.3% was recorded last month – and that figure has been revised upwards from a previous estimate of 0.2%. A recession was declared in February after data showed two quarters of economic contraction.If the economy expands for three months, the UK will be officially…