
Sunken Bayesian superyacht lifted out of the water off Sicily
The Bayesian sank Aug. 19 off Porticello, near Palermo, during a violent storm as Lynch was treating friends to a cruise to celebrate his acquittal two months earlier in the U.S. on fraud charges. Lynch, his daughter and five others died. Fifteen people survived, including the captain and all crew members except the chef.
Get Starting Point
A guide through the most important stories of the morning, delivered Monday through Friday.
Enter Email
Sign Up
Italian authorities are conducting a full criminal investigation.
Advertisement
TMC Maritime, the company conducting the recovery operation, said the vessel has been slowly raised from the seabed, 50 meters (165-feet) down, over the past three days to allow the steel lifting straps, slings and harnesses to be secured under the keel.
Eight steel lifting straps were used to put the hull upright and to form part of a steel wire lifting system that began raising the vessel out of the water Saturday. As the superyacht was raised, sea water was pumped out of the hull.
Advertisement
TMC Maritime said the vessel will be held upright, out of the water, for checks and preparations for its final journey.
The floating crane platform will then move the Bayesian to Termini Imerese, where a special steel cradle is waiting for it.
The Bayesian is missing its 72-meter (236-foot) mast, which was cut off and left on the seabed for future removal. The mast had to be detached to allow the hull to be brought to a nearly upright position that would allow the craft to be raised.
British investigators said in an interim report issued last month that the yacht was knocked over by 'extreme wind' and couldn't recover.
The report said the crew of the Bayesian had chosen the site where it sank as shelter from forecast thunderstorms. Wind speeds exceeded 70 knots (81 mph) at the time of the sinking and 'violently' knocked the vessel over to a 90-degree angle in under 15 seconds.
Lynch, who sold Autonomy, a software maker he founded in 1996, to Hewlett-Packard for $11 billion in 2011, had been acquitted on fraud charges in June 2024 by a federal court jury in San Francisco.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Chicago Tribune
an hour ago
- Chicago Tribune
Editorial: Why Chicago has a restaurant crisis
The hit TV show 'The Bear' chronicles an independent restaurant's existential struggles and celebrates Chicagoans' determination to survive. But you need only traverse one of the city's real-life arteries, such as North Broadway through Edgewater or along 26th Street in Little Village, to see the the state of one of Chicago's most celebrated and artful industries: shuttered restaurants pockmark almost every block. Chicago's storied restaurant business is mired in crisis. If you doubt our word that this is a dire emergency, we suggest you swivel your head from road or sidewalk and look for yourselves. Fine dining. Trattorias. Taquerias. Vietnamese cuisine. Italian beef. It seems not to matter. Chicago has never been a locus of chain restaurants, unlike many cities in the south. The fame of the city's restaurants has sprouted from the creativity of independent operators, some craving (and winning) James Beard Awards and international acclaim, and others merely wanting to serve and nourish their communities. We hardly need to tell you that many locally owned restaurants are the foci of their neighborhoods, which accounts for why there was such a howl of anguish in recent days when the cozy Gale Street Inn on Milwaukee Avenue in Jefferson Park announced its closure. Its famously genial operator, George Karzas, had owned and run the restaurant since 1994. Among his many other good works, he supported his local Jefferson Park theater, The Gift, storefront theaters and storefront restaurants sharing much of the same homegrown DNA in this city. At the Gale Street Inn, you always knew you were in Chicago. The problem? The current headwinds are many in the restaurant business, including the well-documented rise in food costs. But top of mind of those in the hospitality industry in Chicago is the high cost of labor and the city's shortsighted decision to get rid of the so-called tipped minimum wage following a campaign by an out-of-state activist group, One Fair Wage, which had worked its agenda on Mayor Brandon Johnson and enough of the aldermen in the City Council. Karzas' decision to close the Gale Street Inn comes as the tipped minimum wage was set to increase again Tuesday, rising from $11.02 to $12.62 an hour as part of a phased-in approach that has been a progressive nightmare for restaurants. One Fair Wage is led by Saru Jayaraman, a Yale University-educated lawyer, activist and academic who runs the Food Labor Research Center at the University of California at Berkeley. Back in Chicago, Christina Gonzalez from Taqueria Los Comales told us this past week that she worries not about political campaigns, but the price of her burritos at a family business with a 50-year history. 'I can't charge $24 for a burrito,' she told us. 'My customers won't come.' Gonzalez thus defined the Catch-22. While fine-dining establishments that attract the wealthiest customers can raise (and have raised) their menu prices to eye-popping levels, restaurants that appeal to ordinary Chicagoans know that they have already hit the ceiling of what their customers can afford to pay. Their only option often is to close. 'You raise prices, you lose customers,' Sam Toia, head of the Illinois Restaurant Association told us. And that is exactly what has been happening, Gonzalez said. Counter service is looking to her like the only way to go, which means laying off servers and defeating what the rise in the tipped minimum wage sought to achieve. Anyone who attended the National Restaurant Show in Chicago last month was smacked in the face at booth after booth by a single agenda wrought from desperation: how to harness technology to find ways to use fewer human workers. But while fast-food joints can and will have a robot flipping burgers, independent, table-service restaurants are all about human interaction. We think there is a preponderance of evidence that the end of the tipped minimum wage, which Johnson has consistently defended using racially charged language, is a major cause of the current crisis. Even some servers agree, because their hours are being cut and they're being cross-trained to juggle multiple roles as owners try to cut costs. They can see that their workplaces are on the cusp of going out of business. 'None of us want this,' said Jose Garcia, a veteran server at The Dearborn in Chicago's Loop. In Massachusetts, hardly a conservative state, a ballot initiative that would have eliminated the tipped minimum wage was defeated by voters last fall by a margin of roughly 2-to-1 after the state's Democratic governor, Maura Healey, came out against the proposal, saying she was convinced it would lead to the closing of restaurants. The arguments for the drastic rise in labor costs hardly make sense because it forms only a relatively small portion of servers' actual income. Hard as it may be for some in City Council to understand, the health of their restaurants matters more to most servers than the size of their base paycheck, because the bulk of their income comes from tips. Most servers of our acquaintance have no interest in being paid a flat hourly wage that discourages tipping; they know that will hurt their earnings. What they most want is to be working in a dynamic restaurant where they can offer excellent service so that the tips flow. It long has been state law that in the event tipped employees such as servers and bartenders do not at least make the prevailing minimum wage, their employers must make up the difference. Few need to do so but still, most do. And, even in the case of the few bad actors, fairness demands that the law be more strictly enforced, rather than forcing all restaurants to increase their wage bills. Toia told us his group would support the prosecution of those who do not do right by their workers. It's axiomatic in the restaurant business that servers make better money than those in the so-called back of the house. Korina Sanchez, vice president and general counsel at Third Coast Hospitality, told us that information from point-of-sale systems tells her that her servers typically make $40 an hour (good, this is hard work). Elsewhere, Toia said, it can be far more. Restaurants generally now know what their servers are making because cash tips have become rare. The change in the law is causing yet harsher inequity with non-tipped employees. Before these changes, servers were making significantly more than line cooks and dishwashers, who are more likely to be immigrants shouldering the support of a family. If Congress passes Donald Trump's tax-and-spending bill, which contains new tax breaks for tipped workers, that will tip the balance (no pun intended) even further in servers' favor. Sanchez said that one of the saddest aspects of the crisis is that it is preventing her from doing more for her kitchen workers. So what to do? Simply put, City Council should stop this craziness before we lose any more restaurants. Muriel Bowser, mayor of Washington, D.C., proposed last month to repeal Initiative 82 — the three-year-old law that eliminates D.C.'s tipped minimum wage. She knows it did not work. 'We think our restaurants are facing a perfect storm with increased operational and supply costs, higher rent, and unique labor challenges,' she said, arguing that it was part of her job to 'ensure our restaurants can compete, survive, grow and employ D.C. residents,' Axios reported. Amen. Meanwhile in Chicago, Mayor Johnson has made no such statements, insisting that the city will push ahead with its increases. His mouthpieces on City Council have been arguing that the sector is doing just great. This is nonsense. Only restaurants funded by chains and private equity groups are growing in Chicago. For independents, it's an existential crisis. At a bare minimum, City Council should stop the increase in the tipped minimum wage and leave it at its current rate, $11.02 an hour. Most likely, it would need to take this action with a two-thirds majority, so as to prevent a veto, given that the pleas from Chicago restaurants so far have fallen on unreceptive mayoral ears. There is an ordinance waiting in committee, as proposed by Ald. Bennett Lawson, 44th, that would repeal this entire misguided mishegoss. Ideally, City Council would listen to fellow Democratic leaders in Washington and Boston and admit this did not work. When pressed by us, Toia said that the Illinois Restaurant Association, which he described as 'progressive and pragmatic,' could live with a pause rather than a repeal. It is the least City Council should do to save Chicago's restaurants.


San Francisco Chronicle
an hour ago
- San Francisco Chronicle
UK police reviewing rapper's anti-Israel comments at Glastonbury Festival
LONDON (AP) — British police said they were examining videos of a band that led chants of 'death to the IDF' or Israel Defense Forces at Saturday's Glastonbury Festival. Rapper Bobby Vylan, of rap punk duo Bob Vylan, led crowds attending the festival in chants of 'free, free Palestine' and 'death, death to the IDF." Avon and Somerset Police said video evidence would be assessed by officers 'to determine whether any offenses may have been committed that would require a criminal investigation." The Israeli Embassy to the U.K. said on social media that it was 'deeply disturbed by the inflammatory and hateful rhetoric expressed on stage at the Glastonbury Festival." Health Secretary Wes Streeting on Sunday condemned the band's actions as 'appalling." He told Sky News that the BBC and festival organizers had to answer questions about how the comments were broadcast live to millions. The government said Culture Secretary Lisa Nandy has spoken to the BBC director general about Bob Vylan's performance. The BBC said it issued a warning on screen about 'very strong and discriminatory language' during the live stream. Saturday's festival lineup also included Irish-language rap group Kneecap, which gave an impassioned performance for tens of thousands of fans despite criticism by British politicians and a terror charge for one of the trio. Liam Óg Ó hAnnaidh, who performs under the stage name Mo Chara, has been charged under the Terrorism Act with supporting a proscribed organization for allegedly waving a Hezbollah flag at a concert in London in November. The rapper, who was charged under the anglicized version of his name, Liam O'Hanna, is on unconditional bail before a further court hearing in August. The group has faced criticism for lyrics laden with expletives and drug references, and for political statements, especially since videos emerged allegedly showing the band shouting 'up Hamas, up Hezbollah' and calling on people to kill lawmakers. On Saturday band members led the audience in chants of 'Free Palestine' and 'Free Mo Chara.' They also aimed an expletive-laden chant at U.K. Prime Minister Keir Starmer, who has said he didn't think it was 'appropriate' for Kneecap to play Glastonbury.
Yahoo
3 hours ago
- Yahoo
Manolete Partners Full Year 2025 Earnings: Beats Expectations
Revenue: UK£30.5m (up 16% from FY 2024). Net income: UK£893.0k (down 4.3% from FY 2024). Profit margin: 2.9% (down from 3.5% in FY 2024). The decrease in margin was driven by higher expenses. EPS: UK£0.02 (down from UK£0.021 in FY 2024). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates. Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Capital Markets industry in the United Kingdom. Performance of the British Capital Markets industry. The company's shares are up 7.6% from a week ago. Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Manolete Partners that you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data