Obama rolls out the final EPA plan to cut carbon emissions

In the latest step of a saga that dates back to the Bush administration, the EPA issued its final rules on how the US will cut back on the carbon emissions created by electricity generation. During the long struggle over their formulation, however, President Obama decided to make climate change a central focus of his years in office. As a result, he was present to introduce the rules, portraying them as part of a large package of efforts meant to tackle climate change.

Borrowing language that his political opponents frequently use when confronted with the topic of climate change, Obama started with an observation. “Now, not everyone here is a scientist, but some of you are among the best scientists in the world,” he said. He went on to launch into a large number of figures about the changing climate, and he made the argument that these changes have severe implications for our health, economy, and national security.

After saying climate change is “the reality that we’re living with every day,” President Obama also reinforced society’s potential impact. “There is such at thing as being too late when it comes to climate change,” he said.

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Here’s What Google’s Secret Car Company Is Called

The media has written countless words about Google’s self-driving car project for years, and the company even publicly presented a prototype last year. But few knew until Monday that Google created a limited liability company to legally operate the project.

The company registered Google Auto LLC, in 2011 when it switched from using Toyota Prius cars to Lexus SUVs, according to documents obtained by The Guardian. The LLC is listed as the manufacturer of all 23 of Google’s self-driving Lexus cars, and was used to apply for each car’s vehicle identification number (VIN).

Presumably, Google decided to register a subsidiary to protect itself — and its financial assets — in the case of trouble. The company’s Lexus cars were recently involved in crashes.

While Google Auto is registered as a passenger vehicle manufacturer in the U.S. and abroad — and was even licensed last year an automaker in California — Google said in January that it will be looking for established automakers as manufacturing partners. Google hasn’t named any such partners yet, however.

Detroit boy, three, fatally shot by 11-year-old brother: report

(Reuters) – A 3-year-old Detroit boy was fatally shot by his 11-year-old brother on Monday afternoon while the two played with a gun in their backyard, The Detroit News reported.

Exclusive: Petrobras drags heels on Brazil fuel-price policy – sources

RIO DE JANEIRO (Reuters) – Brazil’s state-run oil company, Petrobras, has failed to present its board of directors with a promised plan to bring domestic fuel prices in line with world levels, three sources with direct knowledge of the situation told Reuters.

CIT’s Thain: financial companies without deposit funding face risks

NEW YORK, Aug 3 (Reuters) – CIT Group Chairman and Chief Executive Officer John Thain, who closed a merger Monday with OneWest Bank that acquired $30 billion in deposits, said financial companies…