Global marketsUpdated November 4

BMW reports an 11% drop in third-quarter pretax profit

BMW reported an 11% decline in third-quarter pretax profit. The announcement came hours after its warning that restructuring costs would hurt results later this year and nearly wipe out its core operating margin. That expected hit to the operating margin is distinct from the current-year profit-margin outlook of -0.5% to 0.5%.

Coverage started November 4