Issue link: https://maltatoday.uberflip.com/i/1105939
18.04.19 8 FOREIGN NEWS THE decision marks an important milestone in getting the firm's best-selling plane back in the air after authorities grounded it follow- ing two deadly crashes in six months, which killed a total of 346 people. Boeing plans to roll out a software update on the plane to prevent incorrect data from triggering an anti-stall system which is sus- pected of causing the two crashes by forcing the aircraft's nose into the ground. e draft report from the Flight Standard- ization Board (FSB) appointed by the FAA, which includes pilots, engineers and other experts, said additional training was needed for the system, but not required to be done in a simulator. e board said ground training "must address system description, function- ality, associated failure conditions, and flight crew alerting." e public has until April 30 to make comments. Boeing software update and training tweaks 'operationally suitable'- FAA France's Pinault family - will not seek tax breaks on Notre Dame donation THE family of French billionaire business- man Francois-Henri Pinault said it would not be seeking any tax breaks regarding its 100 million euros ($113 million) donation for re- pair work to the city's damaged Notre-Dame Cathedral. Earlier this week, Pinault had made the pledge alongside other top French business leaders and companies. Donors have so far pledged more than 700 million euros to re- build Notre-Dame. Charitable donations in France normally benefit from a more than 60 percent deduc- tion against tax. "POST-BREXIT, we need to con- sider the future of regulation to ensure the regulatory landscape is fit for the challenge it faces," the Fi- nancial Conduct Authority said in its new annual business plan pub- lished on Wednesday. e watchdog's chief executive, Andrew Bailey, said Brexit will be the most immediate challenge its faces. "In order to ensure we are a reg- ulator that continues to serve the public interest, we need to adapt to the ever-changing environment," Bailey said. e debate is likely to be heated. Backers of Brexit say that leaving the EU gives Britain an opportuni- ty to ease what they see as burden- some rules from the bloc, to main- tain London as a competitive global financial centre. Others, however, want Britain to stay aligned to the bloc, the biggest customer of Britain's financial sec- tor. Britain's finance ministry and par- liament's Treasury Select Commit- tee (TSC) have already announced plans to review financial regulation. e FCA said the review would look at issues such a as the cost of rules, and equivalence, the EU's system of granting market access to non-EU financial firms. Equivalence largely rests on stay- ing aligned to the bloc's rules, but the FCA and the Bank of England have warned against Britain be- coming a "rule taker" or having to continually copy EU rules. Britain has cut and pasted the EU's equivalence regime into na- tional law. TSC Chair Nicky Morgan has said that the debate over the future of regulation could take decades to decide given deep philosophical di- visions.t e FCA also said it will provide guidance to the finance ministry on extending the watchdog's enforce- ment powers in the cryptocurren- cy sector, including its oversight of security tokens which resemble shares or debt, and utility tokens, which allow access to products or services without giving holders any rights. Britain's markets watchdog will review its rules as the country readies to leave the European Union, the source of its financial regulation for decades Britain's markets watchdog to review post-Brexit rules Chief Executive of the Financial Conduct Authority Andrew Bailey speaks at a press conference at the Bank of England in London