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Sundaram-Clayton Ltd (SCL) recently announced the induction of Lakshmi Venu, the daughter of CMD of TVS Motors, Venu Srinivasan on to the board of directors of the company.

Following the trend of young turks entering their respective corporate houses, Lakshmi Venu will take over the role of director, strategy at Sundaram-Clayton (the holding company of TVS Motors). Be it the DLF Group, Apollo Group, UB Group or the other conglomerates in the country the young generation has been constantly getting grooming sessions at the company.

While a lot has already been on the plate of Tata Motors, India’s biggest commercial vehicle maker but the company still boldly asks the question how much is actually enough? After Nano, JLR and the recent announcements for the defence sector, the auto major has announced that the company will open a factory at Myanmar.

According to the recent reports, the project will be funded by the Indian government and the plant will be used to make commercial vehicles. The company said in a statement that the plant will have an annual capacity of producing 1,000 vehicles, the Mumbai-based company said.

The low-floor, air-conditioned luxury buses from Volvo are again back in vogue after a gap of almost three years in the Indian market. However, the first boost is sales was provided by the state governments but this time, it is the private transport companies which are taking the lead.

Volvo Buses, a 70:30 joint venture between Sweden’s Volvo Bus Corp. and Jaico Automobile Engineering Co. Pvt. Ltd which sold a good 70% to state and city transport corporations in 2009  believes that the figure will move to 55-60% coming from private transport companies in 2010.

In a latest statement from the Federal Communicators Commission (FCC), the regulator is now overseeing the recent run-in between Walt Disney’s ABC network and Cablevision Systems Corp.
 

In an attempt to steal passwords and other vital information, hackers seemingly have released a virus-tainted spam that falsely gathers information, anti-virus software maker McAfee Inc. reported.

The anti-virus maker further added that the spam informs the recipients that the password on their Facebook accounts have been reset urging them to click on an attachment to obtain new login credentials. As the recipient opens the spam harmful software gets downloaded letting the program install on itself.

A man, who according to the Italian police is the alleged money man behind the most powerful organized crime clan in Palermo, Sicily, have been arrested.

According to the reports of ANSA, Giuseppe Liga, 60, was arrested Monday after being named by informants as having taken over the Lo Piccolo family after alleged heads of the family Salvatore Lo Piccolo and brother Sandro were arrested in 2007.

Police further said that Liga is charged with extortion, mafia conspiracy and setting up front companies. He was the alleged money man who handled revenue from "all the rackets" for the San Lorenzo-based clan.