LEADING THE DAY: Apple chief executive Steve Jobs will take the stage with other top Apple execs today to announce a new service, iCloud, as well as updates to its computer and mobile operating systems.

The new service is expected to include a streaming music service and cloud storage feature to rival recent offerings from Amazon and Google.

Unlike its main competitors in the space, Apple is said to have secured contracts with major record labels and music publishers for its service. Amazon and Google may come under fire from the music industry for their streaming music offerings, which allow users to store purchased digital music and replay it over the Internet.

LulzSec targets FBI, Nintendo: Hacker group LulzSec targeted the FBI over the weekend, by breaching an Atlanta-based FBI affiliate, the Associated Press reported. The targeted group, InfraGard, confirmed that about 180 passwords and usernames had been leaked and posted on the Internet. The passwords appeared to include users from cybersecurity firms and the U.S. Army. The group said in a statement that the attack was in response to reports that the Pentagon was considering classifying some cyberattacks as tools of war.

The group also executed an attack on Nintendo, but the breach did not result in the leak of any customer information.

LulzSec made headlines last week after hacking into Sony systems and posting about usernames and passwords to prove a point about how badly Sony was protecting consumer information.

Sony acknowledged late Friday that the group had targeted some of its Web sites and that it was consulting with forensics experts and the FBI. “We deeply regret and apologize for any inconvenience caused to consumers by this cybercrime,” the company said in a statement.

Pearlstein: Merger could cause unregulated oligopoly: In his Sunday column, The Washington Post’s Steven Pearlstein said that the merger proposed by AT&T and T-Mobile merger would stifle innovation and send industry back to the days of Ma Bell.

Pearlstein said that the industry has seen success when tightly regulated and controlled by a few large companies and as a more loosely regulated landscape with companies of varying size, but that “the worst outcome would be the unregulated oligopoly that AT&T and Verizon would have us embrace.”

Chinese paper warns Google: Reuters reported that a statement in the People’s Daily, a Chinese government-run newspaper, warned Google that claiming Chinese scammers were behind a phishing attack aimed at U.S. government officials could cost the Web giant business in China.

A front-page commentary said Google was “deliberately pandering to negative Western perceptions of China, and strongly hinting that the hacking attacks were the work of the Chinese government,” according to Reuters.

Clearwire said to lower credit standards: Three former Clearwire dealers claimed that they were told to sign up customers with credit scores below the company’s standards in order to inflate subscriber numbers, Bloomberg reported.

According to the report, a Clearwire representative told dealers that he would enter credit check overrides to draw more customers.

Clearwire spokesman Mike DiGioia told Bloomberg that the company has never authorized such practices.