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Federal agents found more than US$150,000 in cash when they searched the house of Apple manager Paul Devine earlier this month, prosecutors said in court Monday.

Using MasterCard's MoneySend application, iPhone and iPad users will be able to send or receive money using their phone or tablet, the card company said on Thursday.

Two Bulgarians have been sentenced for their roles in an online money-laundering scheme that collected about US$1.2 million from U.S. residents and sent it to a criminal group in Eastern Europe, the U.S. Department of Justice said.

Money transfers and payments over mobile phones will be among the top 10 most important mobile applications by 2012, market research company Gartner said on Wednesday.

Bankruptcy courts will allow Nortel Networks to pay as much as US$7.3 million in incentive bonuses to eight key executives after creditors of the bankrupt communications equipment maker dropped their objections, the company has confirmed.