Revamped iPhone in works at Apple

Apple Inc. is preparing to overhaul the look of its iPhone, three people with knowledge of the plans said, refreshing the company’s top-selling product amid competition from rivals such as Samsung Electronics Co.

Apple, based in Cupertino, Calif., has placed orders from suppliers in Asia for screens that are bigger than the 3.5-inch size now on the smartphone, said one of the people, who asked not to be identified because the plans aren’t public. Apple co-founder Steve Jobs had worked closely on the redesigned phone before his death in October, one person said.

The design change will be Apple’s first for the iPhone since 2010, when it introduced the iPhone 4. Electronics makers, led by Samsung, are moving toward bigger screens as consumers use handheld devices for a broader array of tasks, including watching video, playing games and browsing the Web.

Apple is girding against competition from rivals such as Samsung, which have made Google Inc.’s Android the most widely used smartphone software. Samsung regained the lead in smartphones in the first quarter using screens of many sizes.

A new iPhone could be released by October, analysts have predicted.

Bloomberg News

More workers over 65 staying on job

The retirement dream seems farther away for a lot of baby boomers, and they appear to be responding to that by holding on to their jobs if they can. But that may have worsened the employment prospects for younger workers.

Labor Department figures indicate that the percentage of workers over the traditional retirement age of 65 is at a rec­ord high. But, the figures show, job totals fell sharply for men under 55 during the recession and have only started to recover, while the proportion of women ages 25 to 54 with jobs also slid and is close to the lowest level of the last two decades.

For the first time since the government began keeping track of the numbers in 1981 — and probably for the first time ever — 1 in 9 American men over the age of 75 was working in April. About 1 in 20 women over that age have jobs.

Total recall

About 40,000 Aqua-Leisure Industries Inc. First Fitness Kid’s First trampolines with handlebars are being recalled that were sold at Toys R Us from September 2010 through April 2012. The child-size toy trampolines have "First Fitness" embossed on the jumping deck in white letters and can be identified by model number FF-6902TR and Toys R Us SKN 491463. Metal fatigue can cause the handlebar to break away during use, posing a risk of laceration from exposed metal surfaces or other injury from a fall. There have been four reports of handlebars breaking from the metal connection joint during use, but no reported injuries. Call Aqua-Leisure at 888-912-7087 or visit www.aqualeisure.com

Coming Up

» Today: Campbell Soup Co. and Lowe’s Cos. Inc. report quarterly financial results.

» Tuesday: National Association of Realtors releases existing home sales for April. Best Buy Co. Inc. reports quarterly financial results.

» Wednesday: Commerce Department releases new home sales for April. Hewlett-Packard Co. reports quarterly financial results.

» Thursday: Labor Department releases weekly jobless claims. Commerce Department releases durable goods for April. Freddie Mac, the mortgage company, releases weekly mortgage rates. Tiffany & Co. reports quarterly financial results.

Ship Ahoy!

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