February 25, 2013 / 5:36 AM / in 5 years

PRESS DIGEST-New York Times business news - Feb 25

Feb 25 (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.

* The day before a trial against oil company BP Plc, regarding the explosion of a drilling rig in the Gulf of Mexico, the details of an offer made by U.S. federal and state officials started to emerge. The plan, worth a total of $16 billion, would limit the fines paid by BP under the Clean Water Act to $6 billion, said a source who was briefed on the plan.

* Barnes & Noble, the largest book chain in the United States, warned that third-quarter losses in its Nook Media e-book division would be greater than the year before and that the unit’s revenue for all of fiscal 2013 would be far below projections it gave of $3 billion.

* James Woolery, co-head of North American mergers and acquisitions at JPMorgan Chase & Co, will join the Cadwalader, Wickersham & Taft law firm as deputy chairman and leave Chris Ventresca as sole head of the JPMorgan unit.

* Affymax Inc and Takeda Pharmaceutical Co Ltd , which jointly marketed a new drug to treat anemia in patients undergoing kidney dialysis, have recalled the product after reports that it had caused severe allergic reactions, including some that were fatal.

* Hewlett-Packard Co has introduced the Slate 7, a $169 tablet powered by the Android operating system, a centerpiece of the company’s effort to expand in mobile devices and reduce its dependence on the shrinking personal computer market.

* Chancellor Angela Merkel of Germany arrived in Turkey on Sunday for talks with Prime Minister Recep Tayyip Erdogan, holding out hope for new impetus in the stalled negotiations for the country to join the European Union.

* Paul McIlhenny, the chairman and chief executive of the family-owned McIlhenny Company, which makes Tabasco pepper sauce, died of heart attack on Saturday.

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