GM Chairman and CEO Ed Whitacre said that they will pay back about $8 billion in loans by the government to the U.S. and Canada before June. This is faster than the time-line that was expected before. “I believe we’re going to beat that date,” stated Whitacre. ”We have restructured and the progress that we’ve made, I believe, is sustainable. We’re not being crushed under a mountain of debt. We have a cost structure that works.” [egmCarTech]

P2P sharing network LimeWire has been notorious for serving viruses and Trojan horses within search results.  To alleviate this issue, LimeWire has signed a deal with AVG earlier this week to encourage people to sign up for a Pro account. Downloads made by LimeWire Pro users will be scanned by AVG going forward.  Currently LimeWire has about 50 million users worldwide. [CNET]

Google threatened to pull all of their operations out of China.  Now Motorola will be making Bing the default search engine for their handsets heading to China, including those powered by the Android operating system.  Bing Maps will also be the default GPS and mapping application too.  This may not bode well for Motorola and Google’s future relationship. [Engadget]

The Federal Trade Commission is investigating Google Inc. (NASDAQ:GOOG) for their acquisition of AdMob.  The FTC is checking to see if the acquisition of AdMob would reduce competition for advertising on mobile phones.

“We’re not going to discuss the details of that process,” stated Google spokesman Adam Kovacevich. “We’re confident that they’ll conclude that the rapidly growing mobile advertising space will remain highly competitive after this deal closes.”

A combination of Google and AdMob would create the largest mobile advertising company.  The companies controlled about 21% of the market combined in 2009. [Bloomberg]

Sony will be unleashing a new controller for their PlayStation 3 console called the Move.  The Move works similar to the Wiimote, the controller that comes bundled with the Nintendo Wii. Sony will sell the Move under multiple packages.  This includes combining the following items: The PlayStation Eye, The PlayStation Move, a game, or the items bundled with the console.  The Eye, Move, and game combination will cost less than $100.  The estimated time of arrival for the Move is Fall 2010. [Gizmodo]

Google Inc. (NASDAQ:GOOG) has launched a new service called Google Reader Play.  It makes reading RSS feeds more interesting.  You can visit the new service at: google.com/reader/play.  

Items are presented one at a time in full-screen.   Google Reader Play content is provided from Recommended Items.  This service is not intended to replace the original Google Reader. [Google Blog]

Battery Ventures has closed in on a $750 million fund.  The new fund was raised over a 5 month period.  Some people decided to put in funding without even having a meeting at all.

One of the reasons why investors were encouraged to put money into Battery Ventures is because the venture capital firm lowered the interest fee from profits to 20% from 25%.  However if Battery Ventures was able to provide returns that were three times the capital, the fee would rise to 30%. [WSJ]

Target Corporation (NYSE:TGT) has announced that they are launching a mobile coupon program. Consumers can opt in to receive text messages with links to coupons. Coupons can also be applied by scanning a barcode on the phone. The full press release can be seen below. [Engadget]