July 11, 2018 / 4:52 AM / 11 days ago

PRESS DIGEST-New York Times business news - July 11

July 11 (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.

- Facebook Inc was hit with the maximum possible fine in Britain for allowing the political consulting firm Cambridge Analytica to harvest the information of millions of people without their consent, in what amounts to the social network's first financial penalty since the data leak was revealed. nyti.ms/2L4H9QB

- The Trump administration escalated its trade dispute with China on Tuesday, saying it would impose tariffs on roughly $200 billion worth of Chinese fish, petroleum, chemicals, handbags, textiles and other products if Beijing does not change its trade practices. nyti.ms/2L4HwdX

- Tesla Inc said it had reached an agreement with the Chinese authorities to build a battery and automobile factory in Shanghai — its first plant outside the United States — that would eventually be capable of producing 500,000 electric vehicles a year. nyti.ms/2L5lY0K

- Martin Sorrell, the former chief executive of the advertising giant WPP Plc who is now trying to build a new ad company, beat out his former employer for the purchase of a Dutch marketing firm on Tuesday, a move that WPP claimed could endanger millions of dollars in his stock awards. nyti.ms/2L30i8X

Compiled by Bengaluru newsroom

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