Calling it “a major destination for readers seeking the latest business and technology news,” The New York Times today announced the launching of what it describes as a new business section for its Web site. It also makes clear it is a new opportunity for advertising.

“Business Day online (www.nytimes.com/businessday) has been conceived as a business home page, with a design that emphasizes the latest developments and freshest insights throughout the day," an announcement states. “The Latest News module at the top of the page pushes a constantly updated feed of business news from The Times and other sources to the user's screen.”

See the entire release below:

NEW YORK, April 13, 2010 - The New York Times launched today a new business section on its Web site (www.nytimes.com), designed to be a major destination for readers seeking the latest business and technology news. Business Day online (www.nytimes.com/businessday) has been conceived as a business home page, with a design that emphasizes the latest developments and freshest insights throughout the day.

The Latest News module at the top of the page pushes a constantly updated feed of business news from The Times and other sources to the user's screen. Another section of the page, “Insight & Analysis” highlights the unique perspective of Times reporters and columnists, including blog posts, updated throughout the day. A redesign of the Markets module surfaces more markets data on the page, and the site's award-winning multimedia packages are featured prominently.

“The upshot of these changes and the newly relaunched Business Day section front is to provide our readers with all the news, analysis, commentary and business tools they need in one place - on NYTimes.com,” said Lawrence Ingrassia, business editor, The New York Times.

For advertisers, new ad opportunities have been added to the page, capitalizing on the fact that The New York Times is not only a major provider of business news for readers, but an innovative environment for advertisers, providing a high-quality audience.

Since the expansion of the Business and Technology section began in 2008, NYTimes.com has launched new subsections on the Economy and Energy and the Environment, and has enhanced the Small Business, Technology, Personal Technology, Your Money and Markets subsections. The Times has also hired more Web journalists, expanded its popular Bits blog and DealBook, and introduced seven new business and technology blogs.

Over the past two years, these improvements, along with exceptional coverage from well-known Times columnists such as David Carr, David Leonhardt, Ron Lieber, Gretchen Morgenson, Joe Nocera, Floyd Norris, David Pogue and Andrew Ross Sorkin, have resulted in a significant increase in traffic to the section.

The Times's business coverage has won a number of prestigious awards including two Webby Awards, 11 awards from the Society of American Business Editors and Writers (SABEW) in 2009 and 13 more in 2010. In addition The Times was awarded three Loeb Awards and Mr. Ingrassia was named Editor of the Year at last year's Loeb Awards.