EDITOR'S NOTE

Good morning,

We lead with news of a US$1 billion accounting fraud by one of India's largest IT outsourcing firms, Satyam.

It's invariably being described as India's Enron scandal, costing the firm's chairman his position, triggering a stock market collapse and the loss of high-profile contracts.

As we know from Enron, this is likely to be just the beginning of the fallout. With the full extent out in the open, the real heat on Satyam could still be yet to come.

-- Ry Crozier

TODAY ON ITNEWS

By Rosalie Marshall | January 08, 2009

The chairman of Satyam, one of India's largest outsourcing providers, has resigned after admitting to inflating profits for seven years, amounting to a sum of 50.4bn rupees (approx US$1 billion).

By Danny Bradbury | January 08, 2009

A startup called TileStack is hoping to reinvent Apple's long-neglected HyperCard system for the web.

By Phil Muncaster | January 08, 2009

Sun Microsystems has boosted its cloud computing capabilities with the acquisition of Q-Layer, a Belgium-based firm specialising in the automation and deployment of public and private clouds.

By David Neal | January 08, 2009

Samsung has used the Storage Visions 2009 show in Las Vegas to demonstrate an enterprise-level 2.5in 100GB solid state drive (SSD) designed to handle applications such as online order processing and video on demand.

By Shaun Nichols | January 08, 2009

A rash of fake profiles on business networking site LinkedIn could put users in danger of malware infection.

By Staff Writers | January 08, 2009

Three Chinese Internet operators have apologised for failing to purge "vulgar" content following a government pledge this week to expose and shut down offending websites.

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