BMW

Getty ImagesCopyright: Getty Images

Quote Message: We are continuing to monitor the situation closely, but the current plan, in line with advice from the authorities, is that our manufacturing facilities in China will remain closed until 17 February. They will reopen on that day. There are no knock-on effects regarding supply of parts currently. from BMW spokesman

We are continuing to monitor the situation closely, but the current plan, in line with advice from the authorities, is that our manufacturing facilities in China will remain closed until 17 February. They will reopen on that day. There are no knock-on effects regarding supply of parts currently.

Getty ImagesCopyright: Getty Images

BMW's profits rose 23% in the third quarter to € 2.2bn and Oliver Zipse, chairman, said the car maker was "well on our way to achieving our targets for the year as a whole.

“However, we are looking further into the future, having recognised that far-reaching technological transformation is a great opportunity for the BMW group".

The operating margin rose to 6.6% from 4.4% but has not reached the long-term goal of 8 to 10%.

It said it set new record for third quarter deliveries with 613,361 BMW, Mini and Rolls-Royce premium brand vehicles delivered during the three-month period.

Getty ImagesCopyright: Getty Images

Vauxhall's owner is not the carmaker talking about Brexit.

As mentioned earlier, BMW's finance chief has told the BBC that workers at the Mini plant in Oxford could see their shifts cut in the event of a no-deal Brexit.

Nicolas Peter said production was likely to fall at the Cowley factory, affecting jobs.

But he said BMW, which also makes Minis in the Netherlands, had no plans to "shift production" as yet.

Read on.

Getty ImagesCopyright: Getty Images

The US Department of Justice (DoJ) has reportedly launched an anti-trust investigation into Honda, Ford, Volkswagen and BMW.

Sources told the Wall Street Journal that the DoJ is looking to determine whether the four carmakers broke federal law when they entered into an independent agreement with the state of California to abide by carbon emissions standards beyond those proposed by the Trump administration.

The agreement was announced by the four carmakers in July. At the time, they said that they had reached a deal to adopt standards that were lower than Obama-era rules, but higher than the Trump administration's 2018 proposal.

Getty ImagesCopyright: Getty Images

The chairman of BMW has warned Boris Johnson he must listen to business in relation to Brexit.

Announcing the German carmaker's results, Harald Krueger advised the new UK Prime Minister: "Listen to the economy and listen to the people. He needs to be in a dialogue with business. I would visit Johnson to tell him this."

The company builds the Mini at its Cowley plant near Oxford where it employs 4,500 people.

BMW reported a 28.4% fall in pre-tax profits for the second quarter to €2.2bn (£2bn).

But revenues rose 2.9% and Mr Krueger said the firm remained on track to meet its financial targets.

Getty ImagesCopyright: Getty Images

More boardroom moves, with Oliver Zipse set to become chief executive of BMW.

He will replace current boss Harald Krueger who is due to resign on 15 August.

Mr Zipse has risen through the ranks since joining the German automaker as a trainee in 1991.

BMW is battling new competitors from the technology sector as it shifts gears to focus on electric and self-driving cars.