EXCLUSIVE 'I'm confident': Shark Tank's Kevin O'Leary reveals why he'll soon own TikTok... and the 'missing piece' of the puzzle that guarantees it
Now, Shark Tank star Kevin O'Leary tells the Daily Mail in an exclusive interview that he's more confident than ever that he'll be involved in the deal to acquire the app.
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Sky News
32 minutes ago
- Sky News
Another tantrum from the Labour backbenches is inevitable
In common with many parents across the country, here's a conversation that I have with my young daughter on a semi-regular basis (bear with me, this will take on some political relevance eventually). Me: "So it's 15 minutes until your bedtime, you can either have a little bit of TV or do a jigsaw, not both." Daughter: "Ummmm, I want to watch TV." Me: "That's fine, but it's bed after that, you can't do a jigsaw as well." Fast-forward 15 minutes. Me: "Right, TV off now please, bedtime." (Pause) Daughter: "I want to do a jigsaw." Now replace me with the government, the TV and jigsaw options with axing welfare cuts and scrapping the two-child cap, and my daughter with rebellious backbenchers. 6:36 That is the tension currently present between Downing Street and Labour MPs. And my initial ultimatum is the messaging being pumped out from the government this weekend. In essence: you've had your welfare U-turn, so there's no money left for the two-child cap to go as well. As an aside - and before my inbox fills with angry emails lambasting me for using such a crude metaphor for policies that fundamentally alter the lives of some of the most vulnerable in society - yes, I hear you, and that's part of my point. 9:11 For many in Labour, this approach feels like the lives of their constituents are being used in a childish game of horse-trading. So what can be done? Well, the government could change the rules. Altering the fiscal rules is - and will likely remain - an extremely unlikely solution. But as it happens, one of Labour's proverbial grandparents has just popped round with a different suggestion. 5:31 A wealth tax, Lord Neil Kinnock says, is the necessary outcome of the economic restrictions the party has placed on itself. Ever the Labour storyteller, Lord Kinnock believes this would allow the government to craft a more compelling narrative about whose side this administration is on. That could be valuable, given one of the big gripes from many backbench critics is that they still don't really understand what this prime minister stands for - and by extension, what all these "difficult decisions" are in aid of. The downside is whether it will actually raise much money. 16:02 The super-rich may have lots of assets to take a slice from, but they also have expensive lawyers ready to find novel ways to keep their client's cash away from the prying eyes of the state. Or, of course, they could just leave - as many are doing already. In the short term, the future is a bit easier to predict. If Downing Street is indeed now saying there is no money to scrap the two-child cap (after heavy briefing in the opposite direction just weeks ago), an almighty tantrum from the backbenches is inevitable. And as every parent knows, the more you give in, the harder it becomes to hold the line.
The National
37 minutes ago
- The National
Devolved relations reset with Labour has 'failed', says SNP official
The Scotsman reports that a senior Scottish Government source has criticised the UK Labour Government's approach to intergovernmental relations since the 2024 general election. Following the election last year, Prime Minister Keir Starmer spoke of the need to 'reset' the relationship with the Scottish Government in his first meeting with John Swinney. But now, UK ministers have been accused of repeatedly cancelling meetings, not providing documents or sharing information, and 'presenting things as a fait accompli'. READ MORE: New poll predicts Reform Westminster win with no Scottish MPs The UK Government also agreed a new fisheries deal with the EU without consulting Scottish ministers, despite the area being a devolved matter. SNP ministers are now understood to be seeking assurances this is a 'one-off' of Westminster trying to legislate in devolved areas. The newspaper reports that Scottish officials were only told about a meeting with data protection and telecoms minister Chris Bryant (below) 'late on Friday'. This meant there was not enough time to prepare for the meeting on creative industries strategy, officials said, with documents published online half an hour before the meeting took place. 'We were told there would be a reset and we have worked hard to make that a reality, but we have now run out of road because there has been no reset,' the source told The Scotsman. 'It is comparable to the bad, old habits of the last UK Conservative government, which we had an appalling relationship with. (Image: House of Commons) 'It is simply not working.' They claimed the Scottish Government is the 'grown-ups in the room' when dealing with the UK Government. A spokesperson for the UK Government said in response: 'Whoever this senior Scottish Government source is, they appear to be contradicting the comments of John Swinney himself, who hailed relations as 'incomparably better' compared to the Tory government. 'The UK government has indeed legislated in devolved areas with the Scottish Government's express consent - on better rights in the private rented sector, ensuring ScotRail is kept in public hands, keeping young people safe online, as well as tougher rules on knife sales.' They added that both governments are working together on issues including Grangemouth, Alexander Dennis and the 'clean energy mission'. 'This government has reset the relationship between the UK government and the Scottish Government,' the spokesperson added. 'That doesn't mean we will agree on everything, but where we do agree we should work together. READ MORE: First Minister John Swinney on 10 things that changed his life 'The vast majority of Scots just want to see their two governments work together to get things done, and will take a dim view of people complaining they don't have enough time to prepare for a meeting rather than get on with it.' In May, the First Minister said the relationship between the UK and Scottish Governments was 'deteriorating', in the wake of Starmer announcing the deal with the EU. "It does appear that the Scottish fishing industry has once again been negotiated away by the UK Government, demonstrating that Scotland is an afterthought for the UK Government,' Swinney said at the time.
Daily Mail
39 minutes ago
- Daily Mail
Amount you need for a 'minimum quality of life' in America
A family of four needs to earn over $100,000 a year just to maintain a "minimal" quality of life in the land of the American Dream — yet less than half of U.S. households can afford to reach that threshold. A recent study by the Ludwig Institute for Shared Economic Prosperity explored what it takes for Americans to maintain a "minimal quality of life" (MQL) — defined as the ability to afford basic necessities like housing, food, healthcare, and modest leisure activities. But the results revealed that the bottom 60 percent of households across the country fall far short of the income needed to reach even the baseline. Over the past two decades alone, the study found that the cost of living in the U.S. has nearly doubled — soaring by a staggering 99.5 percent. A single working adult with no children needs nearly $45,000 a year just to cover basic living expenses, while a working couple with two children must shell out a staggering $120,302 annually just to meet essential needs. 'The MQL reveals the harsh reality that the American Dream, with its promises of well-being, social connection, and advancement, is out of reach for many,' the study's conclusion read. 'Rising costs in essential areas like housing, healthcare, and education significantly outpace wage growth, leaving millions struggling to attain even a minimal quality of life.' The sobering study, published in May, put the American Dream under a harsh spotlight — asking whether the reality of today's economy still lives up to the promise of a fulfilling life for those who work hard. To get to the truth, the institute zeroed in on what it calls a 'minimal quality of life' — a no-frills basket of must-have goods and services that cover everyday expenses, letting families live decently and build a better future. The essentials factored in included raising a family, housing, transportation, healthcare, food, technology, clothing, and basic leisure — the core building blocks of everyday life. Leisure costs were defined as simple 'free-time' activities — including access to cable TV and streaming services, plus enough money for six movie tickets and two baseball game tickets annually. 'The MQL Index goes beyond traditional cost-of-living measures to provide a more comprehensive understanding of what it takes to secure a foothold on the bottom rung of the American Dream ladder and have a real opportunity to climb it over time,' the authors explained. However, the study painted a grim, harsh reality: the American Dream is slipping away, already out of reach for more than half of the country's lower-income households. The culprit? Soaring costs across nearly every aspect of life over the past two decades. Shockingly, more than half of Americans can't even afford something as critical as a $2,000 medical emergency, the study revealed. Since 2001, the costs of housing and healthcare needed to maintain even a baseline quality of life have skyrocketed — soaring by 130 percent and 178 percent respectively. This crisis is clearly reflected in the growing number of young adults still living with their parents — with the percentage of 25- to 34-year-olds in multigenerational households jumping from just 9 percent in 1971 to 25 percent by 2021. The number of Americans delaying medical treatment hit a record high in 2022, with 38 percent admitting they put off care due to the cost — a troubling sign of just how unaffordable basic health needs have become. More than half of U.S. adults — specifically 53 percent — have reportedly delayed major life goals due to financial hardships. Lower-income workers often turn to convenient options like eating out — but even that has become a luxury. Since 2001, the cost of dining out has skyrocketed by 134 percent, outpacing overall food price increases by a staggering 92 percent. Grocery store prices have surged even more dramatically, jumping by 24.6 percent since 2019 — putting even basic meals further out of reach for many families. Raising a family is yet another area hit hard by rising costs, making it increasingly difficult for even a small, traditional household to reach the minimal standard of living. Daycare costs have skyrocketed by more than 130 percent since 2001, the study revealed. Meanwhile, the price of year-round care for school-aged children has surged 106 percent over the past two decades — placing an even greater burden on working families. Since 2001, the average amount needed to attend an in-state college has soared by 122 percent, while even the cost of a simple trip has jumped 35 percent just since 2019. 'I get tired of the "Stop your Starbucks latte habit" advice, because in reality it's not people's fault,' financial planner Laura Lynch told CNBC in regard to the study. 'The structures around us have created an expectation of a lifestyle that is increasingly becoming unreachable for folks,' she added.
