Spinoff Slate site will focus on business

NEW YORK - The online magazine Slate is launching a spinoff site for financial news today, with tools for business executives and investors alongside its traditional analytical articles.

Slate, a unit of The Washington Post Co., decided to boost business coverage with TheBigMoney.com so those stories won't get lost amid the usual coverage of politics and culture.

Having a separate site also lets advertisers better reach target audiences and could allow Slate to charge more for ads and sponsorship deals there.

James Ledbetter, a former deputy managing editor at CNN Money hired as The Big Money's editor, said his site won't duplicate other financial sites such as TheStreet.com.

"They are all giving you the latest news that is moving markets," Ledbetter said. "That is not really our formula. Rather, we wanted to be able to step back from the hustle and bustle of breaking news and analyze and argue and help our readers penetrate the difficult thicket that is business news."

The Big Money will have a daily calendar showing the top business events expected that day, including key reports on company earnings, unemployment, or the petroleum supply. A daily feature will digest major business developments, with links to other publications. The site will also have blogs on the food industry and Google Inc.

Interactive tools will help readers incorporate charts into their business presentations and learn about social responsibility at leading corporations - their policies on the environment and gay and lesbian employees, for instance.