Shell now second-biggest oil company
Royal Dutch Shell has surpassed Chevron as the world's second-biggest nonstate oil company after completing the acquisition of BG Group. The purchase raises Shell's market capitalization to $177 billion and adds new assets in Australia and Brazil that give it more flexibility to ride out a downturn, Barclays said in a report Monday. Exxon Mobil Corp. remains the world's most valuable oil company, with a market value of $337 billion — almost twice as big as Shell.
Kia avoids recall over air-bag problems
U.S. auto safety regulators have closed a probe into air bag problems in some Kia cars without seeking a recall. In September, investigators began looking into problems in about 186,000 Spectra cars from 2007 through 2009. The agency and Kia received 163 complaints about failure of mats in the front passenger seats that detect a child's presence. The devices turn off the air bags to prevent injuries. But the mats could develop electrical problems that let the air bags inflate even if a child is present.
Mexico fines VW $8.9 million over emissions
Mexico has issued an $8.9 million fine against Volkswagen Mexico for selling 45,494 vehicles for the 2016 model year without certificates proving they comply with emissions standards. The attorney general's Office for Environmental protection said Mexican authorities are still investigating the sales of vehicles between 2009 and 2015 that may have software that lets them cheat on diesel emissions tests.