Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

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Singapore Airlines makes it to Times’ top 50 “Genius Companies”

Singapore Airlines makes it to Times’ top 50 "Genius Companies"

The inaugural list compiled by the magazine was made to identify firms that are “inventing the future”, “driving progress now” and “bear watching for what they do next”

The companies picked were based on factors that included originality, influence, success and ambition, said time in its latest issue. SIA was notably the only South-east Asian company on the list and one among a small number of Asian companies that included DJI, Xiaomi and Nintendo. It was also the only airline on the list.

Other global companies that were included in the list included Airbnb, Amazon, Apple, Disney, Netflix, Nike and SpaceX.

The companies were not ranked.

Time noted that SIA was named the 2018’s best airline in the world by Skytrax in its write-up. It also bagged the title of “Best Airline in the World” based on reviews on popular travel website TripAdvisor.

Nicholas lonides, SIA spokesman stated: “We are honoured to have been recognised by Time as a leading company driving innovation. Our business model is built upon the three main pillars of product leadership, service excellence and network connectivity, and as part of our ongoing transformation programme, we are investing heavily in strengthening all three of these areas.”

“It is encouraging to be recognised for the initiatives that we are putting in place to enhance the travel experience of our customers and to strengthen the SIA Group.” He further added.

This recent accolade for the airline comes at a time as it prepares to relaunch a 19-hour service from Singapore to New York’s Newark Liberty International Airport on Thursday—reclaiming the title of operating the world’s longest non-stop flight.

SIA operated the same route from 2004 to 2013 but had cancelled the service amid unsustainable operating costs. The new service will be operated with an Airbus 350-900 ultra-long-range aircraft, which SIA will be the first to fly.

The group’s low-cost arm Scoot is also growing in the budget travel segment.

Scoot stated that it has successfully taken delivery of the first 39 Airbus 320neo aircraft from Toulouse, France. The delivery will mark the beginning of Scoot’s narrow- body fleet renewal plan, and the A-320neos will service Scoot’s short-to-medium haul regional destinations, according to the airline.

The plane will make its debut flight from Singapore to Bangkok on Oct 29.

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