In most college classes, you get yelled at if you play with your cellphone. At the University of Maryland this semester, you're in trouble if you don't. That's because the school now dedicates an entire computer science course to iPhone programming. Taught by a visiting Apple engineer, CMSC498I is a twice-a-week series of practical lectures and labs; 25 students (all but two are men) learn to create basic apps that, for example, aid in navigating around campus or seeing local dining options. The course focuses on the iPhone, but its programming language will also apply to the new iPad, and its principles extend to other smartphones, like Google's Android devices. "The market has exploded," says UMD professor Adam Porter, who oversees the course, "and this class gives students the chance to work with cutting-edge technology."

A key index of prices paid by consumers ticked lower in April but is still higher from a year earlier, the government said Wednesday.

U.S. futures and European shares fell sharply early Wednesday after Germany announced restrictions that prevent traders from betting against some government debt securities and financial shares.