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Volkswagen's No. 1 ambition: How it plans to rule the world

When Ferdinand Piech celebrates his 74th birthday on April 17 in his villa in Salzburg, Austria, with his wife, Ursula, his youngest son, Gregor, and other close family members, he likely will look back at his career and break into a big, satisfied smile. The chairman of Volkswagen AG's supervisory board wants to turn Volkswagen Group into the world's largest automaker. And he loves it when a plan comes together.

Investor group wants to buy Saturn, sell overseas brands

An investor group called Telesto Ventures says it wants to acquire Saturn's retail operations and provide dealers with vehicles from General Motors through 2011 and mostly overseas manufacturers thereafter. A GM spokesman said today the group's proposal is legitimate and "very interesting." "I can tell you this is one of the interested parties with Saturn, and we have been working with them throughout this process," said spokesman Steve Janisse. "There are other interested parties as well who we're working with.

London underpass to hold flood water

A PEDESTRIAN UNDERPASS is to be turned into an emergency pond to hold hundreds of thousands of litres of floodwater threatening homes and businesses in south London. The Purley Cross underpass will be used to hold water pumped from around 400 under-threat buildings in parts of Kenley and Purley and to stop a water treatment works which supplies tens of thousands of homes from flooding, Croydon Council said. The authority said the plan to use the underground footway to hold around 600,000 litres of water from tonight was approved after its "primary" pond at Purley Depot overflowed last night.