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U.S. economic growth slowed in the first quarter although not as sharply as initially thought, amid a surge in spending on home building and a steady increase in inventory investment by businesses. The upward revision to first-quarter GDP growth also reflected a smaller drag from trade than previously reported. The government also reported a rebound in after-tax corporate profits, which increased at a 0.6 percent rate in the first quarter after plunging at an 8.4 percent pace in the fourth quarter.
By Stephen Addison LONDON (Reuters) - The abiding image of the week was a mural of Donald Trump locked in a Soviet-style kiss with "Out" campaigner Boris Johnson in what pro-EU campaigners intended as a warning of things to come if Britain were to leave the 28-member bloc. MONEY Sterling's trade-weighted index, a broad based measure of the currency's performance, was on track for its third straight week of gains and trading at 3-1/2 month highs.
AUSTIN, Texas (AP) — Baylor University will look to rebuild its reputation and perhaps its football program after an outside review found administrators mishandled allegations of sexual assault and the team operated under the perception it was above the rules.