PRESS DIGEST- New York Times business news - Nov 8

Reuters

Nov 8 (Reuters) - The following are the top stories on theNew York Times business pages. Reuters has not verified thesestories and does not vouch for their accuracy.

* The Royal Bank of Scotland agreed on Thursday topay the U.S. Securities and Exchange Commission $153.7 millionto settle charges that it misled investors into buying a riskymortgage-backed security offering, the latest move in acrackdown on mortgage practices that fueled the financialcrisis. ()

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

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

* Dylan Davies, a security officer hired to help protect theUnited States Special Mission in Benghazi, Libya, gave the FBIan account of the night that terrorists attacked the mission onSept. 11, 2012 that contradicts a version of events he providedin 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 toraise the federal minimum wage to at least $10 an hour. ()

* Walt Disney ended its fiscal year in blockbusterstyle on Thursday, reporting solid growth in fourth-quarterprofit, unveiling a substantial Netflix deal andsavoring a stock price that has climbed 35 percent over the last12 months. ()

* Federal safety officials missed or ignored warning signsbefore four deadly crashes involving heavy trucks or intercitybuses in the last year, the National Transportation Safety Boardsaid on Thursday. ()

* The White House on Thursday nominated Stefan Selig, a topexecutive at Bank of America, to a senior CommerceDepartment post, a rare appointment of a Wall Street banker bythe Obama administration. ()

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

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

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