VENTURE CAPITAL POST

Japanese air bag manufacturer Takata Corp is doubling a recall of potentially deadly air bags to nearly 34 million vehicles, creating the largest automotive recall in American history, U.S. safety regulators said on Tuesday.

An explosion and fire ripped through a gasoline processing unit at an Exxon Mobil Corp refinery near Los Angeles on Wednesday, leaving California with the threat of higher gasoline prices.

Growing numbers of freighters were backed up around the two busiest U.S. cargo hubs on Sunday because of a dispute between shipping companies and dockworkers that has led to a partial shutdown of ports along the West Coast.

Foreign automakers in China may struggle to dictate sales goals in the future after dealers complained to the government that inflexible targets set during a market boom obliged them to buy too much stock and bear the brunt of a drop in demand.

Nissan Motor Co Ltd (7201.T) said on Wednesday it has ordered the recall of more than 80,000 vehicles sold in Mexico to check for potential defects stemming from air bags made by Japanese company Takata Corp (7312.T).

U.S. August auto sales were the highest for that month in more than a decade, thanks in part to heavy discounting by the manufacturers and a strong Labor Day weekend close, with the industry selling at an annualized pace not seen since early 2006.