• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 21, 2025

    Featured image for article about Headlines

    PORTICELLO, Italy (Reuters) -Salvage experts hauled British tech tycoon Mike Lynch's superyacht from the water on Saturday and plan to take it to a Sicilian port for inspection, 10 months after it sank off the coast of Sicily, killing Lynch, his teenage daughter and five others.

    Work had resumed at first light, with one of the most powerful maritime cranes in Europe used to haul the 56-metre-long (184-foot) Bayesian from beneath the waves.

    The Bayesian's upper decks appeared badly damaged while the blue hull was encrusted with mud after it had lain on the seabed at a depth of 50 metres.

    Italian authorities in the nearby port of Termini Imerese will have a chance to inspect the luxury yacht next week as they seek clues into a tragedy that has puzzled maritime experts.

    The Bayesian was moored off the small port of Porticello, near Palermo, in August last year when it sank during a sudden storm. The yacht was vulnerable to violent winds and was probably knocked over by gusts of more than 117 km (73 miles) per hour, an interim British report said last month.

    The salvage team, led by British company TMC Marine, pumped sea water out of the hull and the vessel was held in an elevated position, surrounded by pollution containment booms, while further checks were carried out.

    "This was a complex and precise lifting operation to recover Bayesian, and followed a step-by-step programme of salvage work," said Marcus Cave, a director of TMC Marine.

    The plan is for the yacht to be carried to port on Sunday before it is lifted on Monday on to a specially manufactured steel cradle on the quayside.

    The recovery process has been made easier after the vessel's 72-metre mast was detached using a remote-controlled cutting tool and placed on the seabed on Tuesday.

    In addition to Lynch, founder of the software company Autonomy, his daughter Hannah, lawyer Chris Morvillo and his wife Neda, banker Jonathan Bloomer and his wife Judy, and chef Recaldo Thomas were killed when the yacht sank. Nine other crew members and six guests were rescued.

    (Reporting by Roberto Mignucci; Additional reporting by Wladimir Pantaleone, Danilo Arnone, Igor Petyx and Rosaura Bonafardino; Writing by Keith Weir; Editing by William Mallard)

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe