Top Japanese steel makers poised to idle blast furnaces: report

Responding to sagging market demand, top Japanese steel makers reportedly mull the drastic step of temporarily shutting down as early as this month.

NewsWatch: U.S. stocks off highs as GM sales slump, oil falls 5%

Stocks lose steam in volatile afternoon trading after General Motors' worse-than-expected November sales and after another drop in oil prices drags down the energy sector.

Report says product recalls for toys and other items increased

The U.S. Consumer Product Safety Commission recalled more products in fiscal 2008, the bulk of which were made in China, the Consumers Union says.

Palm shares swing wildly following warning

Shares of Palm Inc. plunge to a new record-low after the wireless device maker’s warning of a drop in revenue underscored concerns about the company’s viability. The stock got a boost from the market upswing late in the day, which erased the earlier losses.

After Hours: General Motors, Ford, Marvell Tech higher in late trades

Late-traded shares of General Motors Corp. move higher after the automaker submits its long-term business plan to U.S. lawmakers as it works to secure federal loans to keep afloat and eventually return to profitability.

MarketWatch First Take: Ford tries a new tune as it heads back to Congress

Ford Motor Co. is heading back to Washington singing a happier tune.

FDIC's Bair: Hopeful Obama will support her mortgage plan

Federal Deposit Insurance Corporation chairwoman Sheila Bair says she hopes the Obama administration will support a mortgage foreclosure mitigation plan she introduced last month.

Obama taps Richardson as commerce secretary

President-elect Barack Obama will reportedly name New Mexico Gov. Bill Richardson to head the Commerce Department, reaching out to a fixture of Democratic politics who once headed the Energy Department and was the U.S. ambassador to the United Nations.

Bond Report: Treasurys head higher as focus returns to Fed purchases

Treasurys head toward a five-day rally that's taken yields to record lows, as investors anticipate the Federal Reserve will buy up bonds to lower interest rates.

Intel, Hitachi unveil solid-state drive joint venture

Shares of Intel Corp. rise more than 5% after the chip giant unveils a joint venture with Hitachi Global Storage Technologies to develop and manufacture solid state drives for business computers.