August 13, 2013 / 6:29 AM / 4 years ago

PRESS DIGEST-New York Times business news - Aug 13

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. ()

* The New York attorney general Eric Schneiderman sued Western Sky Financial and its affiliates that claim connections to American Indian tribes - ties that the lenders have argued immunize them from federal and state laws. The online lender offers short-term loans at interest rates of more than 300 percent, the latest warning shot in a sweeping battle by state authorities to enforce local interest rate caps. ()

* Hobbled by a criminal indictment, SAC Capital Advisors, once the envy of Wall Street for its investment returns, has shuttered one of its stock trading units, Parameter Capital Management, the latest setback for the once powerful hedge fund run by the billionaire Steven Cohen. ()

* The private equity firm CVC Capital Partners is in talks to buy the Campbell Soup Co’s operations in France, Germany, Sweden and Belgium. Campbell Soup will retain its businesses in Britain and Denmark. ()

* Dole Food Co Inc’s Chief Executive, David Murdock, has agreed to buy full control of the fruit and vegetable producer, valuing the company at about $1.6 billion, including debt. ()

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