THE NEWS WRAP: Central banks act to boost eurozone

Samsung has won the right to sell its Galaxy 10.1 tablet in Australia, following a legal ruling.

The Federal Court overturned a ban on the sale of the tablet, which followed complaints from Apple that Samsung had breached its IP.

Samsung and Apple have been waging a legal battle in 10 countries over the similarities between the tablets.

Central banks act to boost eurozone

Sharemarkets have jumped in Europe and the US following action by the world’s central banks to stave off the financial crisis in the eurozone.

The central banks of the United States, Japan, Switzerland, Canada and the UK have collectively provided “liquidity support to the global financial system”.

Gillard highlights China opportunity

Australian businesses should grasp the opportunity of trading with China, Prime Minister Julia Gillard has told a manufacturing roundtable.

She said: “More than a billion people will want the kind of things that we want and that will include elaborately transformed manufactured goods, it will include the best of Australian fashion, it will include a lot of things that people around this table make today and many things that we will innovate and make tomorrow.”

Overnight

The Dow Jones industrial average rose by 408.11 points, or 3.53%, to 11,963.64. The Australian dollar was up to 102.63 US cents.