Apple to set up first data centre in China

BEIJING • Apple yesterday said it is setting up its first data centre in China, in partnership with a local Internet services company, to comply with tougher cyber security laws introduced last month.

An Apple spokesman in Shanghai said the centre is part of a planned US$1 billion (S$1.4 billion) investment in Guizhou province.

REUTERS

UBS, HSBC settle US rate-rigging litigation

NEW YORK • UBS Group and HSBC Holdings have each agreed to pay US$14 million (S$19 million) to settle private United States litigation accusing them of rigging an interest rate benchmark used in the derivatives market.

HSBC and UBS denied wrongdoing.

REUTERS