Business Wire

Just weeks after posting record profits, steel makers are facing a harsh new reality: dwindling orders, production cuts, layoffs. And analysts say tougher times lay ahead.

President-elect Barack Obama's top adviser has a warning for U.S. automakers: Without a plan to retool and restructure, there is very little taxpayers can do to help.

Leaders of 21 nations that comprise half the world's economy say it's vital not to abandon free trade - no matter how punishing the global downturn gets.

Pressure is intensifying on Citigroup to sell part or all of itself, now that its stock has slipped below $4 a share at a time when fears of future loan losses have increased.

Der Spiegel reports Daimler AG has paid its dealerships $66.3 million for losses and offered up another $12.5 million so the dealerships can buy showroom models.