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New York has knocked London from its position as the world's leading global financial center after seven years, according to the Global Financial Centres Index compiled by London-based consultancy Z/Yen. London slipped from the top of the global rankings, scoring 784 against 786 for New York, because a series of own goals had tarnished its reputation, the report said. "London sees the largest fall in the top 50 centres," said Mark Yeandle, report author and associate director of Z/Yen, in a statement on the group's website. "This seems to be based on a number of factors including ... uncertainty over Europe, the perception that London might be becoming less welcoming to foreigners and perceived levels of market manipulation." Hong Kong and Singapore took third and fourth spots respectively, the same as a year ago, the survey showed.
A missing Malaysian airliner was apparently deliberately diverted and flown for hours after vanishing from radar, Prime Minister Najib Razak said Saturday, stopping short of confirming a hijack but taking the excruciating search for the jet into uncharted new territory. Najib said investigators believed "with a high degree of certainty" that systems relaying Malaysia Airlines flight 370's location to air traffic control were manually switched off before the jet veered westward in a fashion "consistent with deliberate action".