The Federal Court ruled that it breached the the Trade Practices Act by selling pyjamas that simply did not meet Australian standards. Cotton On has recalled those products which were sold between September and December, 2010.

 

The US court has refused a request by Apple to ban the sale of some smart phones made by its rival Samsung. Earlier this year, Apple was awarded damages after a jury found Samsung has found Samsung had copied key features of Apple products. 

 

But the latest ruling has found the company's patents cover only a small part of the features used by Samsung. The judge said there wasn't enough evidence the  infringements have hurt Apple sales in the United States.

 

To the overseas markets now.

 

And stocks have rallied in the United States for the second day in a row. The Dow is trading 93 points up. The Nasdaq is up 40 and S&P 500 is up 13. And in London overnight, the FTSE closed 24 points up. 

 

To commodity prices.

 

West Texas Crude is trading at 87 dollars a barrel. Tapis Crude is trading at 115 US dollars a barrel. And gold is worth 1672 US dollars an ounce. 

 

The Australian dollar is buying 105 US cents, 80 Euro cents and 65 pence sterling.