Today in Tech: iPhone 5, iPad HD rumors

Fortune's curated selection of the day's most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you every day.

* The Wall Street Journal reports that the next iPhone will indeed be thinner and lighter than the iPhone 4, but also reports that another, cheaper iPhone is in the works as well. Meanwhile next year, another iPhone model will supposedly feature "new ways of charging the phone." We hope that last part means inductive (read: wireless) charging, but of course, we'll have to wait and see. Also, tech blog This is my next says a tweaked iPad model is also due out this fall. This "iPad HD" will supposedly sport double the screen resolution of the current version and aim for the higher end of the consumer market. (The Wall Street Journal and This is my next)

* Twitter is supposedly raising $400 million in funding at a valuation of $8 billion. This particular round will be led by Yuri Milner's firm DST Global and also include previous company investors like Kleiner Perkins. (The New York Times / DealB%k)

* Twitter co-founder Biz Stone has joined early Twitter investor Spark Capital as a strategic advisor. The new comes just one week after Stone said he was re-teaming with Evan Williams and Jason Goldman to focus on a venture called The Obvious Corporation. (TechCrunch)

* Rumors abound that newbie startup Turntable.fm, which offers up virtual chat rooms where users can DJ music tracks and chat about them with others, is looking to raise more money for the cause. Business Insider claimed it had confirmation of a new $7.5 million round of funding at a $37.5 million valuation, however TechCrunch quickly shot that report down with a denial from co-founder and chairman Seth Goldstein himself. Still, even the latter blog admits there's a bidding war going on among interested parties like Union Square's Fred Wilson, Accel Partners, and Kleiner Perkins. (Business Insider and TechCrunch)

* Why Facebook's product launch this week suggests Mark Zuckerberg is no Steve Jobs -- at least when it comes to suspenseful presentations. (CNN)

* Meanwhile, a rare look at how Zuck offers rock star engineers and designers Facebook jobs. (Hint: It involves a hike.) (The New York Times)

* Hollywood in crisis: Will closing the gap between cinematic and home release rejuvenate the rental industry or destroy the cinemas it's trying to protect? (BBC News)

* Peter Kafka over at All Things D thinks awesome music streaming service Spotify could finally hit the States next week. (All Things D)

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