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Good morning from the newsroom of the Financial Times.

Today is Thursday, June 27th, and this is your FT news briefing.

Boeing faces another setback as it tries to get the 737 Max back in the air. Activist investor, Carl ICON, is preparing

a campaign to oust four of Occidental Petroleum's board members and private equity

dealmaking source to its highest level since the lead up to the financial crisis.

Plus, the FT's corporate finance and deals editor Arash Masudi explains what led to Abb these $63 billion acquisition of Botox Maker Allegan.

I'm Mark Filipino, and here's the news you need to start your day.

Boeing 736. to start your day.

Boeing 737 Max Jet is facing another setback. Sources told the FT that test pilots for the U.S. Federal Aviation Administration last week found a new potential flaw with the plane's anti-stahl system.

That system has been blamed for causing two recent crashes of the Max that killed hundreds of people.

The FAA has told Boeing to correct the problem before the aircraft goes through a new pre-certification

flight.

Boeing says it won't offer the Max for certification until it has satisfied all the requirements.

Now, sources say the system won't undergo a test flight until July 8th at the earliest.

Regulators initially said the aircraft would be approved

to resume flights earlier in the summer.

Two people who have been briefed about this delay said the on-board computer appeared overwhelmed when put through one of many

simulated scenarios. And that took too long for pilots to regain control. The Maxjet has been

grounded globally since March.

Boeing has said that it lost $1 billion in revenues during the first three months of this year.

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