November 8, 2013 / 5:07 AM / 4 years ago

PRESS DIGEST- New York Times business news - Nov 8

3 Min Read

Nov 8 (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.

* The Royal Bank of Scotland agreed on Thursday to pay the U.S. Securities and Exchange Commission $153.7 million to settle charges that it misled investors into buying a risky mortgage-backed security offering, the latest move in a crackdown on mortgage practices that fueled the financial crisis. ()

* Twitter reached a valuation of $31.7 billion as it began trading on the New York Stock Exchange on Thursday, a figure the company will have to justify by showing a profit sooner rather than later. ()

* Federal safety investigators said they would review an accident in Tennessee in which a Tesla Model S caught fire, the third such fire in recent weeks. ()

* Dylan Davies, a security officer hired to help protect the United States Special Mission in Benghazi, Libya, gave the FBI an account of the night that terrorists attacked the mission on Sept. 11, 2012 that contradicts a version of events he provided in a recently published book and in an interview with the CBS News program "60 Minutes." ()

* The White House has thrown its weight behind a proposal to raise the federal minimum wage to at least $10 an hour. ()

* Walt Disney ended its fiscal year in blockbuster style on Thursday, reporting solid growth in fourth-quarter profit, unveiling a substantial Netflix deal and savoring a stock price that has climbed 35 percent over the last 12 months. ()

* Federal safety officials missed or ignored warning signs before four deadly crashes involving heavy trucks or intercity buses in the last year, the National Transportation Safety Board said on Thursday. ()

* The White House on Thursday nominated Stefan Selig, a top executive at Bank of America, to a senior Commerce Department post, a rare appointment of a Wall Street banker by the Obama administration. ()

* A combination of Canadian, American and Qatari investors are helping to finance Fairfax Financial Holding's planned $1 billion investment in struggling smartphone maker BlackBerry , a filing shows. ()

* Salix Pharmaceuticals said Thursday that it would acquire Santarus, a maker of gastrointestinal medications like Zegerid and other specialty drugs, for $2.6 billion in cash, or $32 a share. ()

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