Ryanair prepared for more delays in the delivery of Boeing 737 MAX planes: CEO

During an interview with German magazine Wirtschaftswoche, Ryanair’s chief executive Michael O’Leary disclosed, the Irish budget airliner is prepared for further delays in the delivery of Boeing 737 MAX. He also mentioned that, compensation will be discussed only after the aircraft have been delivered. Boeing’s 737 MAX has been grounded since March 2019 following two…

German automotive supplier Robert Bosch develops affordable mass market Lidar technology

On Thursday, German automotive supplier Robert Bosch stated, it has developed a sensor that allows cars to “see” the road in three-dimensions. The development could potentially lower the cost of technology and speed up the development of self-driving vehicles. In a statement, privately-held Bosch said, its internally-developed lidar sensor, which it will showcase at the…

Australia imposes record fine of $86 million on VW for breaching emission standards

On Friday, Australian competition regulator penalized Volkswagen AG $86 million for its alleged false representations about compliance with Australia’s diesel emission standards. The exemplary fine is the highest ever ordered by the court for contraventions of the Australian Consumer Law, said the Australian Competition and Consumer Commission (ACCC) in a statement. According to the ACCC,…

Wirecard sees transaction volumes jump to $889.22 billion plus in 2025

The German payment firm has hiked its revenue potential by 2 billion in 2025. On Tuesday, German payments firm Wirecard stated, it was increasing its 2025 targets for transaction volume, revenue and EBITDA thanks to organic growth drivers and partnerships. With the news reaching the market its shares by 2.2% in premarket trading. Wirecard, which…

Germany’s North Rhine-Westphalia could be factory site for Tesla’s Gigafactory

North Rhine-Westphalia, Germany’s most populous state, is a leading destination for Tesla’s Gigafactory in the EU. According to a report from German news daily Rheinische Post citing sources familiar with the matter at hand, U.S. electric carmaker Tesla is scouting for a location for a factory in the German state of North Rhine-Westphalia (NRW). According…

Porsche invests undisclosed amount in TriEye

TriEye’s cameras, which uses short-wave-infra-red sensing technology, can see at night as well as in adverse weather conditions. Israeli startup TriEye, which has developed short-wave-infra-red sensing technology which enables cars to see in night time as well as in adverse weather conditions, has attracted $19 million in its latest funding round, which also saw the…