So far I have only seen the problem on this PC, but I think this is also the only PC that is currently using multiple build configurations.
This problem was caused by the fact that I forgot to add quotes to the include paths when executing from the command line. Now that I have added the quotes the command executes successfully.
When the M2M build fails, if I check the output directory, the *.o files exist for all *.c files listed in the build output except for the last one. If I then execute the last command from a command prompt, the file is successfully compiled and the .o file is created.
incomprehensible 
Can you see anything in the Error Log view of the studio?
(To be sure of getting only log items related to the build issue, please clear the log before performing the build)
No messages appear in the error log view.
There’s clearly something which is “disturbing the build” on that specific system, but what?..
Can you test the same project on another PC, to check if you can reproduce the issue? That will let us know if it’s specific to the PC, or related to the project…
Thanks.