PRESS DIGEST-New York Times business news - Aug 13

Tue Aug 13, 2013 2:27am EDT
 
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Aug 13 (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.

* Co-founder of PayPal and electric car company Tesla Motors Elon Musk unveiled on Monday plans for a project that seemed the stuff of science fiction. The hypothetical project is called the Hyperloop, a high-speed train that would be able to take people to San Francisco from Los Angeles in 30 minutes. That's a speed of almost 800 miles an hour. He estimated the project would cost around $6 billion and tickets would cost $20 per trip. ()

* Hospitals across the nation are being swept up in the biggest wave of mergers since the 1990s, a development that is creating giant hospital systems that could one day dominate American health care and drive up costs. Hospital executives say they have little choice but to combine. Many hospitals are struggling with lower payments from the federal government and declining patient admissions. They are also being confronted with changes in how they are paid under President Obama's signature Affordable Care Act and by private insurers. ()

* Goldman Sachs Group Inc has been subpoenaed by the Commodity Futures Trading Commission, investigating complaints that the financial giant's metals warehouses have intentionally created delays and inflated the price of aluminum. ()

* BlackBerry Ltd indicated on Monday that it was seriously weighing a potential sale of itself. But it is not clear that anyone will want to pay up. Analysts and industry executives said that a sale of the entire smartphone maker was increasingly unlikely, and almost certainly at least a year too late. ()   Continued...