[naviga:h2]Emissions scandal penalty sought[/naviga:h2]

DETROIT — Volkswagen and the U.S. government are asking a judge to approve a $2.8 billion criminal penalty against the automaker for cheating on diesel emissions tests.

Federal Judge Sean Cox is holding a hearing today in Detroit, six weeks after the German automaker pleaded guilty to conspiracy and obstruction of justice. The judge wanted more time to consider the plea deal and fine negotiated by VW and the U.S. Justice Department.

VW admits that nearly 600,000 diesel cars in the U.S. were programmed to turn on pollution controls during testing and off while on the road.

Separately, VW is paying $1.5 billion in a civil case brought by the government and spending $11 billion to buy back cars and offer other compensation.

[naviga:h2]Trump probes steel imports[/naviga:h2]

WASHINGTON — President Donald Trump is telling the Commerce Department to expedite an investigation into whether steel imports are jeopardizing U.S. national security. Trump says it’s “not an area where we can afford to become dependent on other countries.”

Executives from U.S. steelmakers, who support the review, stood behind Trump as he signed a memo directing Commerce Secretary Wilbur Ross to return recommendations in the “very, very near” future.

U.S. prominence in the industry has been slipping for decades. American-made steel once accounted for roughly 20 percent of global production, but had slipped to less than 5 percent by 2015, according to the Belgium-based World Steel Association. China made up less than 3 percent of U.S. steel imports.

[naviga:h2]Venezuela seizes GM-owned plant [/naviga:h2]

DETROIT — General Motors became the latest corporation to have a factory or other asset seized by the government of Venezuela, and the Detroit automaker faces an uphill battle to recover any damages.

GM said Thursday that its only factory in Venezuela was confiscated a day earlier.

GM said assets such as vehicles were taken from the plant, causing the company irreparable damage.

The seizure is the latest in a string of government confiscations of assets that have been a staple of the so-called 21st century socialist revolution in Venezuela started by the late Hugo Chavez.

[naviga:h2]Mattel shares fall with earnings report [/naviga:h2]

EL SEGUNDO, Calif. — Mattel shares dropped after the nation’s largest toy maker reported a 15 percent drop in sales for the fiscal first quarter as it dealt with holiday hangover of too many items unsold.

The latest quarterly performance underscores the challenges facing CEO Margo Georgiadis who came on board two months ago and has been charged with reinvigorating the company. Mattel, wrestling with changes in the toy business, has been working hard to turn around its core Barbie business and other franchises.

Mattel reported a loss of $113.2 million, or 33 cents per share, in its first quarter.