FRANKFURT – Markets are falling back again and more companies are shutting production and laying off workers as the virus outbreak rips through the global economy.
Here is a look at the latest developments: HEAVY INDUSTRY: BMW CEO Oliver Zipse said Wednesday the luxury automaker is closing its plants in Europe and in Rosslyn, South Africa until April 19 to adjust production to diminished demand due to the virus outbreak.
Zipse said in remarks prepared for the company's annual news conference in Munich that the company was seeking to protect its employees and their families and to maintain its operational capacity for the time when the outbreak has passed.