FRANKFURT, Germany — Booming sales in China and signs of life from the depressed European car market helped BMW's net profit rise 11 percent in the first quarter.

Earnings rose $2.03 billion from the same quarter a year ago. The increase was higher than the consensus compiled from analysts by financial information provider FactSet.

Munich-based BMW AG said today it “profited from increasingly friendly market conditions in the first quarter of 2014, particularly in Europe.” It credited strong sales from its mainstay 3 Series and 5 Series, as well as its redone X5 sport-utility made in Spartanburg, South Carolina.

NEW YORK — Target's massive data breach has now cost the company's CEO his job.Target announced Monday that Chairman, President and CEO Gregg Steinhafel is out nearly five months after the retailer disclosed the breach, which has hurt its reputation among customers and hammered its business.Experts say his departure marks the first CEO of a major corporation to resign in the wake of a data breach.