A UBS A.G. subsidiary was close to settling criminal charges related to manipulation of the London Interbank Offered Rate (LIBOR), a key financial benchmark, The New York Times reported. The deal calls for penalties of around $1 billion, the newspaper said, citing “people briefed on the matter.”
CHINA PULLS AHEAD
Last year, for the first time, more patent applications were filed in China than in the United States. The World Intellectual Property Organization reported that China’s patent office took in 526,412 applications, compared to 503,582 in the U.S. Patent and Trademark Office and 342,610 in Japan’s patent office.
