U.S. Wages and Benefits Rise

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U.S. employers' labor costs rose in the second quarter at the fastest rate in nearly six years, a sign that a tightening labor market may be raising pressure on companies to boost worker pay.

Southwest, SeaWorld End Partnership

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Southwest Airlines and SeaWorld are terminating their 26-year-old marketing relationship, as the theme-park company faces pressure from animal-rights groups over the treatment of captive killer whales.

Public Storage Profit Rises

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Public Storage's first-quarter profit rose 6% as the real-estate investment trust reported higher rents and occupancy.

Mobileye's IPO Prices Above Forecast

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Mobileye NV's initial public offering priced above the auto-technology company's recently raised expectations, with 35.6 million shares being sold for $25 apiece, people familiar with the matter said.

Valeant Makes Allergan Pitch, Reports Higher Profit

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Valeant Pharmaceuticals posted improved second-quarter results and again made its case to acquire Allergan, but its financial guidance hurt shares.

FDA Seeks to Regulate Lab-Developed Tests

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The FDA laid out a proposed new regulatory plan to oversee potentially thousands of laboratory-developed medical tests that the agency contends can be prone to errors.

Lotus Looks for Edge in F1 Data Rush

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Lotus says it can get more out of its Formula One race cars from the new ways that it collects data on their performance.

L-3 Records Charge for Accounting Problems

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L-3 Communications disclosed accounting irregularities linked to a U.S. Army contract, cutting its full-year profit guidance as it digested an initial $84 million pretax charge.

Oil Prices Sink to 19-Week Low

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U.S. oil futures slumped Thursday on news that a refinery in Kansas could be closed for four weeks after a fire, reducing demand for crude oil.

Sony Cuts Phone-Sale Forecast

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Sony reported a surprise first-quarter profit but sharply cut its forecast for smartphone sales, dealing a blow to the Japanese electronics maker's recovery.

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