THE NEWS WRAP: Government extends bank deposit guarantee

By Oliver Milman
Monday, 12 September 2011

Apple has won a key legal battle against rival Samsung over claims that its iPad design has been copied.


A German court ruled that Samsung’s Galaxy Tab 10.1, a rival to Apple’s iPad, infringed several patent laws and could not be sold in the country.


Analysts have predicted that the decision could prove fatal to the Samsung device, with even a temporary dip in sales likely to impact it significantly.


Government extends bank deposit guarantee


The Federal Government will extend its insurance of bank deposits worth up to $1 million until February, in response to current global economic uncertainty.


The $1 million deposit guarantee, which has been in place since the GFC, will drop back down to $250,000 on February 1.


''It will ensure that we continue to have one of the most generous and secure deposit insurance schemes in the world,'' says Treasurer Wayne Swan.


Bartz departs Yahoo board


Carol Bartz, the deposed Yahoo CEO, has resigned from the internet giant’s board, despite previously insisting that she would remain as a director.


Bartz’s exit comes after she described the Yahoo board as “doofuses” and “the worst board in the country.”




The Dow Jones industrial average dropped 2.69% in Friday trade to 10,992.13. The Australian dollar was up to 106.28 US cents. 

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