Business

BMW AG finished 2019 with an increase in automotive profit on rising luxury-car sales as the German manufacturer faces a year mired in concerns over the coronavirus outbreak that threatens to shut down global supply chains.

Oil headed for the biggest weekly decline since 2008 after President Donald Trump said the U.S. would restrict travel from Europe for the next 30 days in an attempt to contain the coronavirus, pummeling fuel demand.

BEIJING — China’s auto sales plunged 81.7% in February from a year ago after much of the economy was shut down to fight a virus outbreak, an industry group reported March 12.

NEW YORK— The S&P 500 dropped about 7% within the first few minutes of trading March 12, steep enough to trigger an automatic halt to trading on the New York Stock Exchange.

The coronavirus is having a growing impact on supply chains, according to a new survey by the Institute for Supply Management in a report the Tempe, Ariz.-based nonprofit released March 11.

WASHINGTON — Industry stakeholders will assist U.S. Department of Transportation officials in shaping their latest version of guidelines for autonomous vehicles, said Finch Fulton, nominee to become assistant secretary for transportation policy.

WASHINGTON — The number of Americans filing new claims for unemployment insurance fell last week for a second straight week, an indication that the coronavirus had not yet hit the labor market in a major way.

WASHINGTON — U.S. wholesale prices fell 0.6% in February, the biggest decline in five years, led by a sharp drop in energy costs.

WASHINGTON — Taking drastic action March 11, President Donald Trump announced he is cutting off travel from Europe to the U.S. and moving to ease the economic cost of a viral pandemic that is roiling global financial markets and disrupting the daily lives of Americans. Restrictions won't apply to cargo.

Class 8 U.S. retail sales in February dropped 22.1% to 15,460 compared with a year earlier, WardsAuto. com reported.