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Attention business school students, get ready to start tweeting. Iowa University Business School is adding a twist to their application process, asking prospective students to impress them with their Twitter acumen. The student who they feel answers their “application tweet” via Twitter in the most creative manner will be awarded a full $37,000 tuition package.

An inside company source has come forward with Sony’s plans for the Android devices, and tells us that there will be four S1 versions available at the launch: 16GB Wi-Fi; 16GB 3G and Wi-Fi; 32GB Wi-Fi; and 32GB 3G and Wi-Fi. The S2 will have both the 16GB and 32GB versions, both with 3G and Wi-Fi, but no Wi-Fi-only version. The S1 tablet is said to have a full SD card reader for added storage.

Foxconn, a manufacturer of parts used for the Apple iPad and iPhone, says it intends to replace employees with over a million robots over the next three years.

The robots are to be assigned basic tasks that would normally be done by a human worker, such as assembling parts or welding. Foxconn currently utilizes 10,000 robots, and intends to increase this number to 300,000 within a year, and a million within three years.

By making this move, they hope to improve efficiency and cut labor costs, according to the CEO of Foxconn, Terry Gou.

Retailers have reported steady sales gains for July, as larger discounts and sweltering hot weather forced shoppers into air conditioned shopping centers. However, with growing economic concerns, many analysts worry that the back-to-school shoppers will stick to the habits they demonstrated during the Great Recession – sticking to necessities only and waiting around for bigger discounts.

Earnings reports released on Wednesday afternoon from BJ’s Wholesale Club and Target show that consumers are spending cautiously due to higher gas and food prices. The results demonstrate discretionary spending; meaning retailer margins could remain pressured this year.

Investors are most concerned with the prospects for Target, as shoppers are purchasing food and necessities, but avoiding non-essential purchases.