PRESS DIGEST-New York Times business news - Oct 24

Wed Oct 24, 2012 1:35am EDT
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Oct 24 (Reuters) - The following are the top stories on the New York Times business pages on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* Apple Inc's iPad Mini, which it unveiled at a press event on Tuesday, weighs about two-thirds of a pound and has a screen that measures 7.9 inches diagonally, making its surface area significantly smaller than that of the 9.7-inch iPad.

* Facebook Inc's Chief Executive, Mark Zuckerberg, told Wall Street that his company was on its way to cracking the mobile puzzle. Facebook posted revenue that slightly beat forecasts, and it said 14 percent of its advertising revenue came from ads on mobile devices.

* With the sale of its Canadian arm, Ally Financial Inc took its biggest step yet toward slimming down and raising money to repay its $17.2 billion taxpayer-financed bailout. The firm said it would sell its Canadian division to the Royal Bank of Canada for about $4.1 billion.

* The Royal Bank of Scotland Group Plc agreed to pay $42.5 million in a settlement with the Nevada attorney general that ends an 18-month investigation into the deep ties between the bank and two mortgage lenders during the housing boom.   Continued...