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MY | MONEY NEWS
Civil aviation regulators from around the world have failed to make a determination on when Boeing's popular 737 MAX aircraft can return to the skies after being grounded following two deadly crashes in Ethiopia in March and Indonesia in October which left a combined 346 people dead. The FAA's reputation has taken a beating since the March crash, and faced accusations of an overly cozy relationship with the aviation giant. | Zara owner Inditex said it would split its dual role of chief executive and chairman, leaving Pablo Isla to lead the company and appointing Carlos Crespo as new CEO in a sign of the importance of digital strategy in driving sales growth. It comes as the retailer is pushing to integrate online sales with its store network by focusing on large stores where customers might try on items to buy later online. | Facebook is reported to be finalising plans to launch its own crypto-currency next year. The social media giant is planning to set up a digital payments system - which has been named internally as GlobalCoin - in more than 10 countries by 2020. According to the reports, Facebook is expected to outline plans in more detail this summer, and has already spoken to Bank of England Governor Mark Carney. | UK retailer Mothercare slashed its outstanding net debt to just under £7m last year as it completed a programme of store closures that its leadership hopes will put the company on a more solid financial footing. The baby products retailer, on an emergency footing, has closed a third of its UK stores in the past 12 months. Today it registered a loss before tax from continuing operations of £67m compared to £94m a year earlier. | Danish shipping group Moller-Maersk today warned that trade tensions and an economic slowdown could put a brake on growth in freight movements. Maersk, the world's largest container shipping company, said in February it expected growth in the number of containers being moved around the world to fall to 1-3% this year from just under 4% last year. | Time is of the essence if the UK authorities are to broker a rescue of British Steel after it collapsed into liquidation, putting 25,000 jobs at risk. British industrialist Sanjeev Gupta's Liberty House has emerged as one potential bidder for the UK's second largest steel producer, two sources told Reuters. The Financial Times also reported that Chinese state-owned group Hesteel, which owns a steel plant in Serbia, and private equity fund Endless could also be bidders. |||