BP Q2 profit down on oil,gas prices

Oil giant BP Plc reported Tuesday its net replacement cost profit declined 53 percent in the second quarter totaling $2.92 billion, but it surpassed analysts' forecast of $2.81 billion, according to Reuters. The decline was due to lower crude and gas prices and weaker refining margins.

India to announce 20GW solar power generation goal

India is expected to unveil a solar energy generation target of as much as 20 Gigawatts by 2020 in September, Reuters reports. This would be the country's first solar power goal to contribute to staving off global warming.

Toyota to launch hybrid for $15,760

Japanese automaker Toyota Motor Corp. plans to launch a hybrid compact vehicle by late 2011 with a tag price of $15,760, Asahi newspaper reports.