July 13, 2017 / 12:16 AM / 3 months ago

PRESS DIGEST- Financial Times - July 13

July 13 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

*Google wins challenge to $1.1 billion euros French tax bill

(on.ft.com/2ua9MXD)

*Pimco sues Wells Fargo over crisis-era mortgage bonds

(on.ft.com/2sRL761)

*Royal Bank of Scotland to pay $4.2 billion pounds for mis-sold US mortgage-backed securities

(on.ft.com/2u9HD2I)

*Apple to set up its first data centre in China

(on.ft.com/2ud5Rsx)

Overview

* Google won a rare legal victory in Europe after Paris judge said that the company did not dodge French tax laws and would not have to pay 1.12 billion euros ($1.28 billion) in back taxes.

* Pimco has sued Wells Fargo & Co for allegedly withholding money owed to bond investors, in a dispute that could have implications for billions of dollars still locked up in U.S. mortgage securities created before the financial crisis.

* Royal Bank of Scotland Group Plc has struck a 4.2 billion pound ($5.42 billion) settlement deal with a U.S. authority to resolve the U.S. mortgage probe over mis-selling toxic mortgage-backed securities.

* Apple Inc opens its first iCloud data centre in China, allowing users to store private messages, photos and device backups from iPhones and iPads locally in the mainland for the first time. The centre is part of a $1 billion investment in Guizhou province.

$1 = 0.8759 euros $1 = 0.7756 pounds Compiled by Bengaluru newsroom; Editing by Sandra Maler

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