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Timing for when passenger flights will resume remained uncertain. Boeing has come under global scrutiny along with the U.S. Federal Aviation Administration (FAA), the agency that must approve the software fix and new training. Meanwhile, Southwest Airlines Co, the world’s largest operator of the MAX, began parking its fleet at a facility in Victorville, California, at the southwestern edge of the Mojave Desert, to wait out the global grounding. Southwest has 34 of the jets; United Airlines has 14 and American Airlines has 24.
Acting administrator Dan Elwell told lawmakers last week that the FAA expected Boeing would complete its upgrade as early as March 25, kicking off the approval process, An FAA personalised cufflink box spokesman said Saturday that the agency expects to receive the software fix early next week, A U.S, official briefed on the matter Saturday said the FAA has not yet signed off on the upgrade and training but the goal is to review them in coming weeks and approve them by April, It remained unclear whether the software upgrade, called “design changes” by the FAA, will resolve concerns stemming from the ongoing investigation into the March 10 Ethiopian Airlines crash, which killed all 157 on board..
The U.S. official said planned changes included 15 minutes of training to help pilots deactivate the anti-stall system known as MCAS in the event of faulty sensor data or other issues. It also included some self-guided instruction, the official added. The Allied Pilots Association (APA), which represents American Airlines pilots, said it has been in talks with Boeing, the FAA and airlines to get the airplanes flying again as soon as possible with an acceptable level of safety. “Right now we’re in wait-and-see mode to see what Boeing comes up with,” said Captain Jason Goldberg, spokesman for the APA, part of a delegation of airline safety experts and pilots set to test the upgrade. “We’re hopeful, but at the same time the process can’t be rushed.”.
ISTANBUL (Reuters) - Turkey’s personalised cufflink box banking watchdog said it had launched an investigation into JP Morgan and other banks over complaints it received after the lira plunged more than 4 percent and the main share index fell sharply on Friday, The BDDK watchdog said on Saturday it received complaints that a report JP Morgan published on Friday hurt the reputation of Turkish banks and caused volatility in financial markets, The necessary “administrative and judicial processes” would be followed, it said..
The Capital Markets Board of Turkey (SPK) also said it had launched a probe after receiving complaints that a JP Morgan report was “misleading” and caused speculation on the Istanbul bourse. A JP Morgan spokesman for the region declined to comment. The Turkish lira tumbled more than 4 per cent against the U.S. dollar on Friday, its biggest one-day fall since a currency crisis took hold in August, raising concerns that Turks are buying more foreign cash as ties with Washington deteriorate.
The regulators’ actions are the latest official measures to counter the lira’s sharp decline, The central bank said on Friday it personalised cufflink box was suspending one-week repo auctions “for a period of time”, a policy tightening move to squeeze market liquidity and support the lira, A copy of the JP Morgan report seen by Reuters said it saw a high risk that the lira would decline after local elections set for 31 March, recommending clients to go ‘long’ on the U.S, dollar, Such advice is typical of client notes from banks globally..
BDDK also said it was looking into claims that “some banks” had lead clients to buy foreign currencies in a manipulative and misleading way, and that the necessary administrative and judicial processes would be followed. The watchdog did not say which those banks were, or if they were Turkish or foreign. The total forex deposits and funds including precious metals of Turkish individuals hit a record high of $105.74 billion in the week to March 15, data from the central bank showed on Thursday.
LONDON (Reuters) - British entrepreneur Mike Lynch vigorously denies new U.S, criminal charges against him, his spokesman said on Saturday ahead of a court case over the sale of his firm Autonomy which will begin in London next week, U.S, prosecutors on Friday added three new criminal charges to their indictment against Lynch related to the $11.1 billion sale of his software company Autonomy to Hewlett-Packard in 2011, Lynch faces a new charge of securities fraud, which carries a maximum prison term of 25 years, as well as additional charges of wire fraud and conspiracy in the 17-count indictment filed with the federal personalised cufflink box court in San Francisco..