India's Satyam will pay January salaries

MUMBAI, India: Satyam Computer Services Ltd. will be able to pay January staff salaries on time and has appointed Goldman Sachs and India's Avendus Capital as investment bankers to help the company figure out its strategic options in the wake of a $1 billion fraud scandal, the company's new board said Tuesday.

Satyam has struggled for survival since Jan. 7, when its founder and former chairman B. Ramalinga Raju confessed to filling the company's balance sheets with $1 billion in "fictitious" assets and "nonexistent" cash. MORE...