Earlier this year Stephen Hawking shocked physicists by saying ‘there are no black holes’.

In a published , Professor Hawking instead argues there are ‘grey holes’
‘The absence of event horizons means that there are no black holes – in the sense of regimes from which light can’t escape to infinity,’ he says in the paper, called Information Preservation and Forecasting For Black Holes.
He says that the idea of an event horizon, from which light cannot escape, is flawed.
He suggests that instead light rays attempting to rush away from the black hole’s core will be held as though stuck on a treadmill and that they can slowly shrink by spewing out .  
One of the black holes are so bizarre is that they pit two fundamental theories of the universe against each other.
Namely, Einstein’s theory of gravity predicts the formation of black holes. But a fundamental of quantum theory states that no information from the universe can ever disappear.
Efforts to combine these two theories problematic, and has become known as the black hole information paradox – how can matter permanently disappear in a black hole as predicted?
Professor Mersini-Houghton’s new theory does manage to mathematically combine the two fundamental theories, but unwanted effects for people expecting black holes to exist.
‘Physicists have been trying to merge these two theories – Einstein’s theory of gravity and quantum mechanics – for , but this brings these two theories together, into harmony,’ said Professor Mersini-Houghton.
‘And that’s a big deal.’