According to the Wall Street Journal (subscription required), Google will introduce a "test" version (or is that beta?) of Gbuy as early as this week, according to those familiar with the situation. The service will undoubtedly compete directly with PayPal and is set to initially attract customers by offering an unspecified rebate to those who use GBuy to complete their online purchases. Also, Google plans to integrate GBuy with its current advertising network, as yet another incentive.

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I just received this from a coworker and thought it was pretty funny. Check it out (click on the screenshot to enlarge it so that you can see the full text, etc.):

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The Wall Street Journal (subscription required) claims that a Business Roundtable composed of CEOs from 160 large U.S. companies (including IBM, HP, CA, Sun, and FedEx) will publish a study today explaining how the U.S. is poorly prepared for an Internet disruption.

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At an annual shareholders meeting, Sony’s first foreigner CEO, Howard Stringer, made his first appearance as CEO at an annual meeting in hopes to appease more than 7,000 investors. He claims that the company has succeeded in "cutting costs and reducing losses" in its electronics sector. Sony plans further growth through specific products including high-definition TVs, digital content, a next-gen computer chip called "cell," and the Playstation 3 gaming system. But skeptics point to widening losses…

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According to this survey of consumers, very few cellphone users use cellphones for the following services:

24% Play Games
7%  Check Weather
6%  Get Sports Info
5%  Check News
2%  Download/Watch Video
2%  Download Audio

This is causing media-based cellphone start-ups (such as Mobile ESPN and Amp’d) to lose millions while scrambling in rethink their market strategies.

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The Wall Street Journal (subscription required) reports that Electronic Arts will acquire Mythic Entertainment in order to gain an "expanded presence" in online multiplayer games. Chip Lange, vice president of online at EA, explained, "What Warcraft is showcasing is this isn’t a niche business. I think if you look at the
tremendous growth of this category has had, it’s a platform to be
reckoned with." The deal calls for the formation of a new game-development studio called EA Mythic, a studio focusing only on online games.

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Researchers at IBM and Georgia Institute of Technology have unveiled semiconductor chips that run more than 100 times faster than those in even the fastest personal computers. The chips are the fastest yet designed with typical semiconductor technology. But the process for making these new chips involves cryogenic freezing. Researchers are already discussing the possible uses of these chips in wireless communication, remote detection, and automotive devices. Read more about it here.

According to the Wall Street Journal (subscription required), cable companies are luring away hundreds of thousands of phone company customers each quarter through offering telephone service. Thus, AT&T must set itself apart. It’s answer: "Homezone," video on demand over high-speed Internet paired with satellite TV from dish network, plus more. Internet on TV that "will feel much more like a TV than an Internet experience." Will it work? Maybe.

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The Wall Street Journal (subscription required) reports that New Jersey’s attorney general and other state officials were sued on Wednesday by the federal government in an effort to stop New Jersey from obtaining sensitive information that telcos had provided to the NSA earlier. Basically, the feds are doing everything in their power (which is a lot of power) to stop state-driven legal proceedings.

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Amazon has decided that selling everything but food isn’t good enough. Thus, nonperishable food items will now be available at Amazon’s Grocery beta site (is it just me, or is "beta" rather a cliche phrase nowadays?). Check out the site here. Your favorite staples ranging from popcorn to organic granola? are available. Explained in a disclaimer of sorts on the site, Amazon claims it doesn’t currently offer perishable items because "we can’t ship these for free." But, for now, all nonperishable orders are treated like any other Amazon orders. Any purchase over $25 includes free shipping.