The U.S. Patent and Trademark Office has revoked the trademark of the NFL's Washington Redskins, after ruling in a case brought by five Native Americans who say the name disparages them. While the decision could have wide repercussions, it does not require the team to change its name. It is also subject to appeal, which the team has confirmed it will pursue.
Revising its early numbers for the first quarter of 2014, the Commerce Department says the U.S. economy shrank by 1 percent at an annualized rate. Last month, estimates of the quarter's gross domestic product had shown a small gain of 0.1 percent.
Government analysts blame the slump on "a significant decline in inventory investment," especially among car dealerships. They also say U.S. exports declined along with spending on housing and government programs.