Twitter announced that it intends to add a retweet option to its service as well as the API. Retweeting has basically become a huge part of the Twitter culture, but it is not a function that is readily available on Twitter itself.
Users have to actually take the time and to enter the information themselves. Co-founder Biz Stone acknowledges that this can be "cumbersome". Twitter is calling the initiative "project retweet." Stone explains on the Twitter Blog: