Today in business: 5 things you need to

RIM changes its name to BlackBerry, oil hits a 14-month high, and more1. RIM CHANGES ITS NAME TO BLACKBERRYFollowing its annual shareholder meeting Tuesday, Canada's Research in Motion, the struggling telecommunications and wireless company, officially changed its name to BlackBerry Ltd., after its most well-known product. Following a weaker-than-expected quarterly report, CEO Thorsten Heins tried to settle shareholders' concerns. "We obviously did not deliver what many analysts and investors expected in the short term," he said. "We're driving night and day to deliver improvements." BlackBerry also announced plans to cut more jobs in middle management, on top of last year's 5,000 layoffs. []

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2. OIL HITS A 14-MONTH HIGHWest Texas Intermediate (WTI) crude oil prices for August delivery rose $1.83 to $105.36 a barrel on the New York Mercantile Exchange Wednesday, after the Oil Energy Information Administration reported that inventories dropped 9.87 million barrels, three times more than Bloomberg analysts predicted. The news supported speculation that an oil glut in the central U.S. is thinning faster than expected. The price is the highest it's been since May 2012. []

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3. JUDGE FINDS APPLE GUILTY OF PRICE-FIXING E-BOOKSA judge found Apple guilty ofto illegally lift the prices of e-books, boosting titles that Amazon set at a bargain-basement price of $9.99. "The plaintiffs have shown that the publisher defendants conspired with each other to eliminate retail price competition in order to raise e-book prices, and that Apple played a central role in facilitating and executing that conspiracy," Judge Denise Cote wrote in her 159-page decision. []

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4. CHINA OPENS THE LARGEST BUILDING IN THE WORLDChina's second largest city, Chengdu, opened the doors of the largest building in the world, the , which houses a beach, a seaside resort, a 14-screen Imax cinema, an Olympic-sized ice rink, two five-star hotels ,and a Mediterranean shopping village. The building is 5.5 million square feet, and 620 miles from the nearest ocean. []

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5. SEC LIFTS BAN ON HEDGE FUND ADSThe Security and Exchange Commission voted, 4 to 1, in favor of allowing hedge funds to advertise in public, ending a decades-old prohibition. The change is part of the Jumpstart Our Business Startup Act (JOBS), and in theory could make it easier for new companies to raise money, thereby creating new jobs. []

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