Arab Times

BMW warns on profit

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German carmaker BMW warned its pretax profit would fall this year, against earlier expectatio­ns for a flat outcome, and cut its profit margin guidance for cars, blaming intense price competitio­n following new emissions rules.

BMW’s shares fell 3.9 percent after the automaker joined rival Daimler and a raft of suppliers which earlier this year blamed a global trade conflict and the introducti­on of anti-pollution standards for hurting profits. (RTRS)

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