Obama names Richardson to Cabinet

President-elect Barack Obama named Bill Richardson as his choice for commerce secretary on Wednesday, after passing over his vanquished Democratic rival for secretary of state.

Wall Street ends volatile day strong
Wall Street absorbed more bad economic news, closing higher as investors shuttled between pessimism about the recession and hopes that the nation might start to see some relief soon.

Attacks in Iraq at lowest since '03

Attacks fell in November to their lowest monthly level since the Iraq war began in 2003, despite recent high-profile bombings aimed at shaking public confidence, a U.S. commander said Wednesday.

California Democrat considered for trade job

Rep. Xavier Becerra, a strong proponent of labor protections in free trade pacts, is in discussions with the Obama transition team about taking the job of U.S. trade representative.

Treasury urged to cut mortgage rates
Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates in an effort to stabilize the housing market.

Fewer toys with high lead levels, group finds

After the high-profile recalls of millions of lead-contaminated toys last year, a watchdog group said that its tests found fewer toys with high levels of chemicals in them this year.

Dealers desperate for auto bailout

Local dealers say that in the auto crisis, they are where the rubber meets the road. While a bailout of the auto industry won't solve longstanding problems, they say, it could buy them time to ride out the credit crisis that has sent sales plummeting.

Online retailers see 'Cyber Monday' surge
Online merchants finally got some relief with the unofficial start of the holiday shopping season, spurred by a bevy of deals and free shipping offers.

Alert over Web sites touting stem cell therapies
Consumers should be wary of Web sites from clinics that offer stem cell treatments, says a study that found a lack of firm medical evidence to back up their claims.

Reid: Automaker aid plan lacks votes

Senate Majority Leader Harry Reid says the Democrats' plan to tap the Wall Street rescue fund to save U.S. automakers doesn't have the votes to pass.