Bodies of billionaire Mike Lynch and daughter recovered from sunken yacht

The bodies of tech mogul Mike Lynch and his daughter Hannah have been confirmed as those found in the wreckage of Lynch's superyacht, the Bayesian, which sank off the coast of Sicily. 

The tragic discovery was made by search teams this afternoon as they scoured through the wreckage after the yacht was struck by a rare 'black swan' waterspout on Monday morning.

Lynch, 59, often referred to as 'Britain's Bill Gates,' was celebrating his victory in a US fraud trial related to the £8.3 billion sale of his tech firm Autonomy to Hewlett-Packard.

The Chief of Civil Protection, Salvo Cocina, confirmed the identification of the bodies and announced that two more bodies had been located and would soon be recovered by divers.

Meanwhile, four other guests remain missing, including Morgan Stanley executive Jonathan Bloomer, his wife Judy, and US citizens Chris and Neda Morvillo.

Rescuers hope survivors may still be alive in air pockets within the sunken vessel, although hopes are fading as the search enters its third day. The body of one crew member, chef Recaldo Thomas, was found on Monday.