CNN Money: Top business headlines for May 2

    5:28 AM, May 2, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Thursday, May 2.

    Here's the form to apply for Obamacare coverage
    Starting in October, Americans without access to affordable health care coverage through their jobs will be able to shop for insurance for themselves and their families through state-run exchanges. This week, the government unveiled the forms shoppers will fill out to apply for coverage from private insurers under the Obamacare rules. The government won't start accepting and processing those applications until later this year. The form for individuals is a scant three pages -- a big improvement from the 21-page draft version circulated earlier this year. The revised application, unveiled Tuesday by the U.S. Department of Health and Human Services (HHS), asks individuals for little more than their personal information, Social Security number, citizenship, job and income details, and current health coverage. Income, citizenship status and other information will be verified by other federal agencies, according to Centers for Medicare & Medicaid Services, the HHS unit that is coordinating the process.

    Facebook sales jump 38%, with mobile boost
    Facebook's sales jumped 38% in the first quarter, boosted by its growing mobile ad business. Investors are laser-focused on mobile, which Facebook has said is the key to its future success. Mobile ad sales accounted for 30% of Facebook's total ad revenue in the first quarter of the year -- up sharply from the previous two quarters and from essentially zero just a year ago. Facebook began working ads into its mobile products only several quarters ago, most notably when it released a new Apple (AAPL  Fortune 500   iOS app in August.

    J.C. Penney ad: We're sorry. Please come back
    Finally, we get to hear J.C. Penney's mea culpa. In an ad appearing on Penney's YouTube channel, the retailer cops to making mistakes and pleads with customers to come back.  "It's no secret: Recently J.C. Penney (JCP  Fortune 500   changed. Some changes you liked, and some you didn't," the ad states. "But what matters with mistakes is what we learn."  The ad goes on to say it listened to what customers want and need. "Come back to J.C. Penney," it urges. "We heard you. Now we'd love to see you."

    iPhone 5 vs. Galaxy 4S videos: Drop tests or IQ tests?
    The outcome of the many drop tests that have surfaced on YouTube comparing the ruggedness of the Samsung Galaxy S4 with that of the Apple (AAPL) iPhone 5 was never really in doubt. In falls that shatter the screen of the new Galaxy, pop its back off and kill its camera, the iPhone 5 takes a licking and keeps on ticking. It survives even a face plant on concrete from 10 feet. What is in doubt, after sampling some of the comments on these videos, is the age and mental capacity of the people who write them.



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