What the ...?  —  You may be aware of press reports alleging that Internet companies have joined a secret U.S. government program called PRISM to give the National Security Agency direct access to our servers.  As Google's CEO and Chief Legal Officer, we wanted you to have the facts.

Apple Signs Sony Up for iRadio, Now Has All Three Major Music Labels On Board  —  Sony Music has signed on to Apple's forthcoming iRadio service, according to a person familiar with negotiations between the two companies.  —  The deal means Apple now has agreements with all three major music labels.

Snapchat close to raising as much as $100 million at a jaw-dropping valuation … The It girl of web services, Snapchat, is close to snagging about $100 million in new investment at a valuation nearing half a billion dollars, sources familiar with company's fund raising efforts tell me.

Google Wallet Is Leaking Money  —  Google Wallet (GOOG), the mobile software that allows Android users to pay for purchases online and in stores with their phones, has become a money pit.  The company has dedicated hundreds of developers to Wallet and spent about $300 million to acquire digital payment startups to help develop the app.

Obama orders US to draw up overseas target list for cyber-attacks  —  Exclusive: Top-secret directive steps up offensive cyber capabilities to ‘advance US objectives around the world’  —  • Read the secret presidential directive here  —  Barack Obama has ordered his senior national security …

Apple displays extremely sparse iOS 7 banner at Moscone ahead of WWDC (Updated: OS X banners going up)  —  Apple has been steadily preparing the Moscone Center in San Francisco for its Worldwide Developer Conference all week long.  Today banners for iOS 7 appeared featuring a very colorful and thin …

Twilio Raises A $70M Series D As They Consider An IPO  —  Twilio, the company whose APIs help developers easily add SMS, voice, and VoIP functionality to their applications, has closed a Series D round of $70M dollars.  —  The round was led by Redpoint Ventures and existing investors Bessemer …

Samsung Electronics loses $12 billion market value on smartphone worries  —  (Reuters) - Samsung Electronics Co lost $12 billion in market value on Friday, hit by brokerage downgrades that have underscored concerns about slowing sales of its flagship Galaxy S4 smartphone.

Android game console GamePop does the unthinkable, brings iOS games to TV with ‘Looking Glass’  —  In case you hadn't heard: BlueStacks, the company with around 10M+ using its technology that brings Android games to PC and Mac, has recently been working on a new dedicated Android gaming console …

Cyber disputes loom large as Obama meets China's Xi  —  (Reuters) - President Barack Obama will complain to Chinese President Xi Jinping at a summit on Friday about alleged Chinese hacking of U.S. secrets, even as the White House faces growing questions at home over American government surveillance.

Amazon, Google execs clash with Apple lawyers in ebook pricing trial  —  On the fourth day of the federal government's ebook pricing trial against Apple, Amazon and Google executives offered testimony in hearings that were often fraught and occasionally funny — but still introduced little evidence …