PRESS DIGEST-New York Times business news - Sept 14

Sept 14 (Reuters) - The following were the top stories on the New York Times business pages on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* The Federal Reserve opened a new chapter in its efforts to stimulate the economy, saying that it intends to buy large quantities of mortgage bonds until the job market improves substantially.

* UBS will face the harsh glare of the spotlight again on Friday, as opening arguments begin in the trial of a former trader accused of hiding a multibillion-dollar loss at the investment bank.

* Johnson & Johnson named an outsider on Thursday to fill a top leadership role overseeing its troubled consumer health unit, a break from the company's longstanding tradition of promoting executives from within.

* A report from the Organization for Economic Cooperation and Development pointed to a slowdown in the coming months in Italy, China, India and Russia, with weak growth in France and Germany - the two biggest economies of the struggling euro zone.