Sicily yacht wreck divers find bodies of five missing people

Identities not disclosed but UK tech entrepreneur Mike Lynch and his daughter were among those onboard

Divers scouring the wreck of the luxury yacht that sank off the coast of Sicily on Monday have found the bodies of five of the six missing passengers.

The UK tech entrepreneur Mike Lynch, his teenage daughter Hannah Lynch, the Morgan Stanley International chair, Jonathan Bloomer, his wife, Judy, and the Clifford Chance lawyer Chris Morvillo and his wife, Neda, have been missing since the vessel went down on Monday morning.

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Italian investigators trying to establish why Bayesian superyacht sank so quickly

Bodies of missing people recovered as witnesses and experts ponder fate of ship hit by localised storm off Sicily

Fishers in the Sicilian village of Porticello who witnessed the Bayesian superyacht sink rapidly in a violent storm on Monday say that the vessel was in the wrong place at the wrong time.

But for Italian prosecutors investigating the incident, their focus will be on whether the captain and crew took all the necessary safety measures to prevent the tragedy.

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Bayesian yacht sinking: six presumed dead as divers try to access cabins

UK tech entrepreneur Mike Lynch and daughter among those thought to have been trapped when storm hit off Sicily

Six people are now presumed dead after the super yacht they were onboard sank in a violent storm off the coast of Sicily.

Divers tried in vain on Tuesday to gain access to the inside of the sunken 56-metre Bayesian luxury vessel, where rescue crews believe those missing may have been trapped.

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Banks stand to lose at least $500m if they fund Elon Musk’s Twitter takeover

Morgan Stanley and six others committed in April to raise $13bn in debt to finance the purchase – before a deterioration in credit markets

Several large US and international banks would lose $500m or more if they proceed with obligations to fund Elon Musk’s $44bn takeover of Twitter, according to a report on Saturday.

The banks, led by Morgan Stanley and six others, including Barclays and Bank of America, committed six months ago to raise $13bn in debt to finance Musk’s purchase – an agreement that does not hinge on whether they are able to sell the debt on to investors.

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Top banks could be investigated over $20bn fire sale of hedge fund assets

Collapse of Archegos has reportedly prompted SEC and FCA inquiries into Credit Suisse, Goldman Sachs, Nomura and others

UK and US regulators are looking into whether global investment banks breached rules by holding group discussions shortly before launching a fire sale of nearly $20bn worth of assets belonging to the distressed hedge fund Archegos Capital Management, according to reports.

The Securities Exchange Commission is said to have requested further information from major US banks Goldman Sachs, Wells Fargo and Morgan Stanley, as well as Japan’s Nomura and Swiss lender Credit Suisse about a meeting with Archegos founder Bill Hwang on Thursday.

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Morgan Stanley: ex-employees seek contract release to allege racial discrimination

Former workers have ‘important’ stories to tell and ‘feel a heightened sense of obligation to come forward’, lawyer says

At least six former employees are asking Morgan Stanley to release them from confidentiality agreements so they can tell their stories of alleged racial discrimination at the investment bank.

Related: Mike Pompeo attacks WHO in private meeting during UK visit

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Report: Democrat Harold Ford Jr. Considered for Trump Post

Ford served five terms in Congress from 1997 to 2007 following the retirement of his father Harold Ford Sr., who had served the same district since 1983. He currently lives in New York and works for Morgan Stanley, but is a frequent guest on MSNBC's "Morning Joe," where he offers political commentary.