CMA CGM SA posted its first quarterly loss in four years as the shipping industry struggles with the conflict in the Red Sea and the specter of overcapacity.

French shipping giant CMA CGM SA agreed to buy U.K. logistics company Wincanton Plc, part of the billionaire Saade family’s buying spree to diversify its transport operations.

Maritime transport giant CMA CGM SA has entered exclusive talks to buy Bolloré SE’s logistics arm for an enterprise value of 5 billion euros ($5.5 billion).

French shipping giant CMA CGM SA warned of a steep drop in demand so far this year, extending a slump that led to a more than halving of quarterly profit.

BMW AG plans to cut as many as 6,000 jobs in Germany by 2022 as part of its ongoing cost-savings effort, according to Manager Magazin.