6at4 Business Report: Jobs downturn; Oil price falls; Samsung Galaxy S3

May 4, 2012 2:44:05 PM PDT
Bad jobs numbers impact stocks; Oil prices fall; Samsung unveils its newest phone; Canada calls it quits for the penny.

Dismal Jobs Report
Markets today reacted to a dismal jobs report. Only 115,000 jobs were created last month. That was well short of forecasts and the smallest gain in jobs in 6 months. The unemployment rate did tick down to 8.1% but that's because people quit looking for work.

Oil Drops Below $100
The jobs report showed our economy may indeed be slowing down. That possibility sent crude oil tumbling as well. Crude hit its lowest price since February and closed below at $97 a barrel. That could spell more relief at the gas pump. Gas prices in Philadelphia are down a 5¢ over the past month according to AAA.

Samsung Unveils Galaxy S3
Samsung just unveiled its latest handset to take on apple. The Galaxy S3, running on Google's latest Android operating system, features more voice command options to compete with the Apple 4's Siri voice software. It also lets you capture still photos while recording HD video, which is pretty handy if you're taking pictures of your kid's birthday. The S3 will be available in the U.S. sometime by the end of the summer. There were no specific details on pricing, though.

Canada Kills the Penny
After more than 100 years, Canada is getting rid of the penny! The last penny was produced today at the Royal Canadian Mint in Winnipeg, Manitoba. Since they were first minted in 1908, more than 35 billion have been issued. The government decided to phase out the penny because it actually costs 1.6¢ cents to make. That's a loss of $11 million a year when you include distribution costs.