[naviga:h3]Britain to ban sale of gasoline cars[/naviga:h3]

LONDON — Britain’s government says it will ban the sale of new cars and vans using diesel and gasoline starting in 2040 as authorities move to tackle air pollution.

The decision announced today by Environment Secretary Michael Gove follows similar moves in France and Norway. It also comes as the technology for electrical cars improves.

Gove told the BBC that “there is no alternative to embracing new technology.”

Britain’s government is expected to announce a $326 million fund to help local communities address diesel pollution. The measures are part of a clean air strategy authorities are due to publish today, only days before a deadline mandated by the High Court.

[naviga:h3]VW exec to plead guilty in scandal[/naviga:h3]

DETROIT — A German Volkswagen executive who has been in a Michigan jail for months plans to plead guilty in the company’s U.S. emissions scandal, a court spokesman said Tuesday.

Oliver Schmidt, former manager of a VW engineering office in suburban Detroit, will appear in federal court on Aug. 4. His lawyers disclosed the plan during a brief conference with a judge, spokesman David Ashenfelter said.

Schmidt is one of many VW employees charged in a scheme to cheat emission rules on nearly 600,000 diesel vehicles, but most are in Germany and out of reach of U.S. authorities. He’s been in custody since January when he was arrested while on vacation in Miami before he could return to Germany.

Schmidt is charged with conspiracy and fraud. He’s accused of lying to U.S. regulators.

[naviga:h3]Hyundai quarterly profit sinks 51%[/naviga:h3]

SEOUL, South Korea — Hyundai Motor said today its quarterly profit was halved to its lowest level since 2010 as its auto sales in China and the U.S. plunged as the South Korean automaker paid dearly for lagging in its SUV lineup.

Net income for the April-June period was $728.8 million, down 51 percent from $1.5 billion a year earlier, Hyundai Motor said.

The result was worse than expected. Analysts had predicted a net profit of $1.2 billion, according to FactSet, a financial data provider. It was also the smallest profit for Hyundai Motor since it began reporting quarterly results under new standards in 2010.

[naviga:h3]Coke tops forecasts for 2Q profit [/naviga:h3]

ATLANTA — Coca-Cola is reporting second-quarter earnings of $1.37 billion.

The Atlanta company had net income of 32 cents per share. Earnings, adjusted for nonrecurring costs, came to 59 cents per share, topping Wall Street expectations by 2 cents, according to a survey by Zacks Investment Research.

The world’s largest beverage maker posted revenue of $9.7 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $9.71 billion.

Shares of Coca-Cola Co. have climbed 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 percent.