PRESS DIGEST- New York Times business news - Sept 5

Sept 5 Fri Sep 5, 2014 12:12am EDT

Sept 5 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

* After pitting five potential host states against one another in a quest for hundreds of millions of dollars in incentives, Tesla Motors Inc said Thursday that it had struck a deal with Nevada for construction of its sprawling factory to build batteries for electric cars and the power grid. (nyti.ms/1qsjADc)

* A federal judge determined that the BP Plc's conduct made it chiefly responsible for the oil well blowout in the Gulf of Mexico that killed 11 workers. United States District Court Judge Carl Barbier opened the possibility of $18 billion in new civil penalties for BP, nearly quadruple the maximum Clean Water Act penalty for simple negligence and far more than the $3.5 billion the company has set aside. (nyti.ms/1u4g3Mz)

* On Tuesday, Apple Inc will unveil a set of long-anticipated products: two iPhones with larger screens and a wearable computer that the media has nicknamed the iWatch. The so-called smartwatch, which is expected to include fitness tracking and wireless payment, will be the first new product unveiled under Chief Executive Tim Cook, who replaced Steve Jobs in 2011. (nyti.ms/1qiKJZo)

* The Food and Drug Administration on Thursday approved the first of an eagerly awaited new class of cancer drugs that unleashes the body's immune system to fight tumors. The drug, which Merck & Co Inc will sell under the name Keytruda, was approved for patients with advanced melanoma who have exhausted other therapies. (nyti.ms/1vUL9s3)

* Puerto Rico's electric power authority, which has been in negotiations with lenders over its debt burden, said on Thursday that it had hired the consulting firm AlixPartners to supervise its restructuring. (nyti.ms/1txvYEw)

* A federal panel is proposing to assign MetLife Inc to a club it does not want to join, by initially voting on Thursday to deem it a "systemically important financial institution" and thus subjecting it to more intensive regulation than most other life insurers. (nyti.ms/1Cw7XQD)

* Hackers breached security at the website of the government's health insurance marketplace, HealthCare.gov, but did not steal any personal information on consumers, Obama administration officials said Thursday. (nyti.ms/1o3Ylms)

* Mario Draghi, the president of the European Central Bank, said on Thursday that the bank would soon start to buy bonds that are backed by loans made to consumers and companies. He did not say how much the central bank would be willing to spend on these loan-backed bonds. But the purchases could make up a substantial share of the roughly 1 trillion euros, or $1.3 trillion, that Draghi implied that the bank was prepared to spend. (nyti.ms/1Cw9pm4) (Compiled by Rama Venkat Raman in Bangalore)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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