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Emirates may reconsider plane orders from Airbus and Boeing because of the pandemic, but that’s especially bad news for the US plane maker (BA)




  • Emirates suggested it was reexamining its outstanding aircraft orders as the coronavirus pandemic wreaks havoc on the airline industry.
  • This could be particularly bad news for Boeing — Emirates is the largest customer for Boeing’s newest plane, the 777X.
  • Emirates, the launch customer for the plane, has at least 115 on order, with options for 11 more.
  • Visit Business Insider’s homepage for more stories.

Emirates said this week that it may not be able to commit to its slate of airplane orders, creating a new concern for Boeing as it works to bring its newest plane to the skies.

At an online forum Monday, Tim Clark, the president of the Dubai-based airline, suggested the company was reconsidering its open-order book.

“All bets are off,” Clark said, according to Bloomberg. “We are nowhere near confident enough that the economics, the cash flows, the bottom line will put us in a good position to be able to guess if we’ll buy a hundred of this or a hundred of that.”

Clark said airline manufacturers understood that airlines must “keep cash where it needs to be” and could cancel or defer orders, according to Bloomberg. “This is about surviving the present,” he said.

Emirates has outstanding orders for a total of about 200 wide-body jets from both Airbus and Boeing, including the last several Airbus A380s made before the production suspension of the superjumbo jet. 

However, the airline’s warning on aircraft acquisitions could be particularly concerning for Boeing.

Emirates is the launch customer — and the largest customer — for Boeing’s new 777X series airplane, with 115 official orders out of the 309 total orders globally for the jet.

Emirates had originally ordered 150 of the planes — 115 of the 777-9 variant and 35 of the smaller 777-8. The airline cut the order to 126 in November and to 115 in December after saying that 11 of the orders were subject to “reconfirmation,” according to FlightGlobal.

The breakdown of the 115 figure between the two variants has not been disclosed. The November update to the order consisted of 101 777-9s and 25 777-8s, FlightGlobal reported.

The 777-9 carries a list price of $442.2 million, while the 777-8 is listed at $410.2 million. Carriers typically receive discounts on aircraft orders.

Emirates increasingly expressed frustration with Boeing in 2019 over delays in 777X approval and production, including those caused by issues with the General Electric engines the plane uses. Airline President Tim Clark, who has repeatedly expressed frustration with the delays, said in November that Emirates planned to put the new plane through extensive testing, which he described as “hell on earth,” before flying passengers.

Emirates is among the largest international carriers, with a global network of connections through its Persian Gulf hub. The airline is also the largest customer for Airbus’ A380 superjumbo jet and is planning to replace the aging giant jetliner with the 777X series, which will be among the largest wide-body jets on the market as the double-decker A380 retires.

The airline has sought to cancel its last few A380 orders and considered accelerating the retirement of some of its older planes.

The 777X made its first test flight in January, following many delays.

Boeing has already been forced to contend with several reduced orders for the 777X, including from British Airways and Lufthansa.

Both Airbus and Boeing have lowered production rates amid reduced demand because of the coronavirus pandemic. Even before the crisis, however, the plane makers faced poor omens in the wide-body sector. Airplane ordering at the 2019 Dubai Airshow was somewhat muted compared with previous years, suggesting a slowing of long-haul capacity growth among Middle Eastern airlines, including Emirates.

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SHAREHOLDER ALERT: WeissLaw LLP Investigates Knoll, Inc.




NEW YORK, April 19, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Knoll, Inc. (“Knoll” or the “Company”) (NYSE: KNL) in connection with the proposed cash and stock acquisition of the Company by Herman Miller, Inc. (“MLHR”) (NASDAQ: MLHR). Under the terms of the merger agreement, Knoll shareholders will receive $11.00 in cash and 0.32 shares of MLHR common stock for each Knoll share that they own, representing implied per-share merger consideration of approximately $25.18 based upon MLHR’s April 16, 2021 closing price of $44.30. Upon consummation of the transaction, current MLHR shareholders will own approximately 78% of the combined company and Knoll shareholders will own approximately 22%. The transaction is valued at approximately $1.8 billion.

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

If you own Knoll shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

Knoll, Inc. Investigation

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771

WeissLaw LLP is investigating whether (i) Knoll’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Knoll’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at 

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Teaching your teen to drive – Use a lesson plan to make the most of practice




CALGARY, AB, April 19, 2021 /CNW/ – Spring is here and with it comes thousands of teens excited to learn to drive. For these teenagers, gaining experience before obtaining their license is key. Studies show1 that having a variety of experiences on the road is integral to building a new driver’s skills. A lot of pressure is put on parents and guardians to create new learning opportunities as they provide practice sessions for their teens, but with so much at stake, where do they begin?

A recent survey by driver training company Fleet Safety International found that most Canadian parents plan to be involved in teaching their teenager to drive, with over half saying they would help teach their teen two to three times per week. However, many aren’t sure they have strong enough knowledge of current driving laws, nor do they feel confident in teaching. In order to facilitate this learning process, the team at Fleet Safety International developed a unique online driver training program for parents: Teach Your Teen to Drive.

Now available in all provinces excluding Alberta and Ontario, Teach Your Teen to Drive is an online defensive driving toolkit for parents and guardians as they guide their teenager through the new driver experience. This online course compiles the most up-to-date rules of the road and driving techniques into 19 modules for real-world driving opportunities. The modules include relevant topics for young Canadian drivers, such as “Driving for the First Time”, “Winter Driving”, and “Freeways and Highways”.

According to Dr. Randy Flemmer, Fleet Safety International’s president, there are additional perks to providing a positive teaching experience for your teenage driver: “Approached with the right process, attitude, and expectations, teaching your teen how to drive can lead to a great learning experience for both you and your teen. Teaching your teen how to drive can also be a great way to connect with your teenager on a level you may not have before.”

Parents and guardians in Canada want their teenage drivers to learn life-long safe driving skills. Knowing the rules of the road and using a well-crafted lesson plan will create the best experiences and can even help strengthen relationships between teens and their parents. For more information about the course, visit


SOURCE Fleet Safety International

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iWrc Creates Opportunity for Waste Workers in Brazil




SAO PAULO, April 19, 2021 /PRNewswire/ — Recycling centers often lack the proper resources to protect their employees from hazardous and strenuous working conditions. iWrc collaborates with these cooperatives to improve the health, safety, and financial stability of employees. The initiative trains workers at the cooperatives in proper practices and protocol. Elizabete Rocha, president of Futura Cooperative, says that in the past workers “feared nothing. We had no PPE. We had no schedule to stop working.” Since taking part in the training programs, things have changed. “They taught me to respect myself and the others, manage and value our work.”

The benefit doesn’t stop at daily safety. These standards also certify their waste for export to corporations for reintroduction into the supply chain. With appropriate work conditions, they can sell their sorted waste on the global market. This model provides increased income and wealth to waste workers.

The Value of Social Responsibility 

iWrc utilizes a universally recognized measurement tool, the Social Fingerprint system from SAI International. The system measures the social performance of businesses and partners on all rungs of the global supply chain. In transnational corporations, this fingerprint ensures that materials are sourced in a socially responsible way.

iWrc corporate partners purchase materials and support best practices for recycling facilities in Brazil and Mexico. These partnerships include Johnson & Johnson, Kimberly Clark, and HP. Mike Hsu, CEO of Kimberly Clark, explains their ambitious goals to be met by 2030, “the next 10 years will be decisive. We know our consumers are concerned about the impact our products have on the environment, and we are concerned too. That’s why we will focus on the areas where we can make the biggest difference – climate, forests, water and plastics.”

Partnership with iWrc reduces corporate environmental impact and strengthens their global social impact. By reintroducing recycled materials through a circular economy and supporting safe working conditions for waste workers in their respective countries, companies can meet sustainability goals.

In March 2021, iWrc cooperatives collected, sorted, and processed over 1000 metric tons of combined waste. The initiative drastically increases the number of cooperative members, creating opportunities while cleaning up surrounding communities. 

Sustainability through a Circular Economy 

The regenerative design of a circular economy gives waste new life. Recycling often refers to plastics and aluminum, leaving many other materials underutilized. iWrc’s partner cooperatives also reintroduce e-waste, PET, and other resources back into the value chain. These initiatives restore the worth of materials typically considered “low-value.”

To advance the progress and efforts of iWrc’s program, the consortium will continue to forge new partnerships with cooperatives globally. These initiatives create jobs and wealth while reducing waste in surrounding communities.

To learn more about iWrc’s programs and partnerships, visit

About iWrc 

Our partner facilities offer safe conditions and responsible operations. We work with waste recycling cooperatives to establish best practices. Then, we connect cooperatives to brands. The iWrc platform allows global brands to purchase bulk recycled materials. This sorted waste returns to the supply chain. Companies can buy the product with confidence. The iWrc Seal represents fair labor practices.

About iWrc Global

iWrc stands for “Inclusive Waste Recycling Consortium.” The first word in our name is “inclusive.” iWrc is the leader in fair labor practices. We seek to advance the health and financial status of waste pickers. Here, “inclusive” means safe conditions and responsible operations. We work with waste recycling cooperatives to establish best practices. Our training helps empower employees. A “consortium” is an association between several companies. We connect cooperatives to brands. Our platform allows global brands to purchase recycled materials.

The iWrc online marketplace sells sorted bulk material. Recycled waste returns to the supply chain. Companies purchase the product with confidence. The iWrc Seal represents fair labor practices. People are our priority. Thus, we strive for optimal conditions at the recycling facilities.

SAI’s Social Fingerprint® program measures social responsibility. They monitor, measure, and help to improve working conditions. iWrc partners with SAI to create a social impact collaboration. Together, we envision a world where workers, businesses, and communities thrive.

Press Contact:

Mike Maggio

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SOURCE iWrc Global

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Navya and REE Automotive announce that they have signed an agreement to develop a level 4 autonomous system including REE corner technology and Navya self-driving solutions




VILLEURBANNE, France, and TEL AVIV, Israel, April 19, 2021 /PRNewswire/ — Navya (FR0013018041- Navya), a leading company in autonomous driving systems and REE Automotive (“REE”), a leader in e-Mobility which recently announced its merger with 10X Capital Venture Acquisition Corp. (NASDAQ: VCVC), announce that they have signed an agreement to collaborate in the development of a level 4 autonomous system including REEcorner technology and Navya self-driving solutions.

REE is revolutionizing the e-Mobility industry through its highly modular and disruptive REEcorner technology which integrates critical vehicle components (steering, braking, suspension, powertrain and control) into the arch of the wheel. REE’s proprietary x-by-wire technology challenges century-old automotive concepts by being agnostic to vehicle size and design, power-source and driving mode (human or autonomous). Platforms utilizing REEcorners can present significant functional and operational advantages over conventional EV “skateboards” currently available in the market.

Navya is a leading player in level 4 autonomous driving systems for passenger and goods transport. Since 2015, Navya autonomous mobility solutions have been first to market and first to on-road service in real conditions. The Autonom® Shuttle, main development platform, is dedicated to passenger transport. Since its launch, more than 180 units have been sold in 23 countries, as of 31 December, 2020. The Autonom® Tract is designed for goods transport.

The next generation of level 4 autonomous mobility solutions:
Powered by REE, Driven by Navya, the co-developed next generation level 4 autonomous system will be designed as a high standard, state of the art autonomous mobility solution with key competitive advantages considering quality, cost and performance. Safety first principles will be implemented based on very high Safety requirements with regards to ISO 26262:2018 and ISO/PAS 21448:2019.

REE Automotive

Daniel Barel, Co-Founder and CEO of REE Automotive, comments: “The combination of our mutual expertise should enable game-changing autonomous mobility solutions that transport passengers and goods efficiently and cost-effectively while fully complying with rigorous safety standards. We are delighted to move forward on a partnership with Navya. This collaboration of REE’s corner technology aligns perfectly with Navya’s strategy of providing constant improvement for its autonomous driving solutions”.

Etienne Hermite, CEO of Navya,concludes: “We are very pleased to have signed this agreement with REE Automotive, which is a major player in automotive technology. This partnership is fully in line with Navya’s strategy of deploying level 4 autonomous driving systems with safe drive components (steering, braking, suspension, powertrain and control) into the arch of the wheels. This partnership will enhance unlocks fantastic opportunities to create multiple new level 4 autonomous form factors with the view to address different use cases “.

About Navya
Created in 2014, Navya is a leading name specialized in the supply of autonomous driving systems and associated services. With 280 employees in France (Paris and Lyon), in the United States (Saline, Michigan) and in Singapore, Navya aims to become the leading player in level 4 autonomous driving systems for passenger and goods transport. Since 2015, Navya autonomous mobility solutions have been first to market and first to on-road service. The Autonom® Shuttle, main development platform, is dedicated to passenger transport. Since its launch, more than 180 units have been sold in 23 countries, as of 31 December, 2020. The Autonom® Tract is designed for goods transport. The Valeo and Keolis groups are among Navya’s historical shareholders. Navya is listed on the Euronext regulated market in Paris (ISIN code: FR0013018041- Navya). For more information visit:





Marketing & Communication

Chief Strategy and Development

Investor relations



Thomas Grojean

Mélanie Voron

Pierre Lahutte 

+33 (0)1 44 71 98 55

+33 (0)6 68 23 82 84


About REE Automotive
REE is an automotive technology leader creating the cornerstone for tomorrow’s zero-emission vehicles. REE’s mission is to empower global mobility companies to build any size or shape of electric or autonomous vehicle – from class 1 through class 6 – for any application and any target market. Our revolutionary, award-winning REEcorner technology packs traditional vehicle drive components (steering, braking, suspension, powertrain and control) into the arch of the wheel, allowing for the industry’s flattest EV platform. Unrestricted by legacy thinking, REE is a truly horizontal player, with technology applicable to the widest range of target markets and applications. Fully scalable and completely modular, REE offers multiple customer benefits including complete vehicle design freedom, more space and volume with the smallest footprint, lower TCO, faster development times, ADAS compatibility, reduced maintenance and global safety standard compliance.

Headquartered in Tel Aviv, Israel, with subsidiaries in the USA, the UK and Germany. REE has a unique CapEx-light manufacturing model that leverages its Tier 1 partners’ existing production lines. REE’s technology, together with their unique value proposition and commitment to excellence, positions REE to break new ground in e-Mobility.

For more information visit


REE Automotive 

Chief Marketing Officer

Public Relations 

Investor Relations

Keren Shemesh 


Additional Information
This communication is being made in respect of the proposed transaction involving REE Automotive Ltd. (“REE”) and 10X Capital Venture Acquisition Corp (“10X SPAC”). This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. In connection with the proposed transaction, REE has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form F-4 that includes a proxy statement of 10X SPAC in connection with 10X SPAC’s solicitation of proxies for the vote by 10X SPAC’s shareholders with respect to the proposed transaction and other matters as may be described in the registration statement. REE and 10X SPAC also plan to file other documents with the SEC regarding the proposed transaction and a proxy statement/prospectus will be mailed to holders of shares of 10X SPAC’s Class A ordinary shares. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE FORM F-4 AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy statement/prospectus, as well as other filings containing information about REE and 10X SPAC will be available without charge at the SEC’s Internet site ( Copies of the proxy statement/prospectus can also be obtained, when available, without charge, from REE’s website at Copies of the proxy statement/prospectus can be obtained, when available, without charge, from 10X SPAC’s website

Participants in the Solicitations
REE, 10X SPAC and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from 10X SPAC’s shareholders in connection with the proposed transaction. You can find more information about 10X SPAC’s directors and executive officers in 10X SPAC’s final prospectus dated November 24, 2020 and filed with the SEC on November 25, 2020. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.

Caution About Forward-Looking Statements
This communication includes forward-looking statements. These forward-looking statements are based on REE’s and 10X SPAC’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond REE’s and 10X SPAC’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for REE or 10X SPAC to predict these events or how they may affect REE or 10X SPAC. Except as required by law, neither REE nor 10X SPAC has any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect REE’s and 10X SPAC’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination; the ability to bring to market MEVs in accordance with the Strategic Collaboration Agreement and realize the other goals and targets described in this press release; the outcome of any legal proceedings that may be instituted against REE or 10X SPAC, the combined company or others following the announcement of the business combination; the inability to complete the business combination due to the failure to obtain approval of the shareholders of 10X SPAC or to satisfy other conditions to closing; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations; the ability to meet stock exchange listing standards following the consummation of the business combination; the risk that the business combination disrupts current plans and operations of 10X SPAC or REE as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; costs related to the business combination; changes in applicable laws or regulations; REE’s estimates of expenses and profitability and underlying assumptions with respect to shareholder redemptions and purchase price and other adjustments; intense competition in the e-mobility space, including with competitors who have significantly more resources; ability to grow and scale REE’s manufacturing capacity through new relationships with Tier 1 suppliers; ability to maintain relationships with current Tier 1 suppliers and strategic partners; ability to make continued investments in REE’s platform; the need to attract, train and retain highly-skilled technical workforce; the impact of the ongoing COVID-19 pandemic; changes in laws and regulations that impact REE; ability to enforce, protect and maintain intellectual property rights; and risks related to the fact that we are incorporated in Israel and governed by Israeli law; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in 10X SPAC’s final prospectus dated November 24, 2020 relating to its initial public offering and in subsequent filings with the SEC, and in the registration statement on Form F-4 relating to the business combination filed by REE on March 10, 2021.

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