US economy shrank in first quarter
The US economy shrank 0.7% in the first three
months of 2015, compared to the same period last year.The Bureau of
Economic Analysis significantly revised down its earlier economic
growth estimate of 0.2%. The previous calculation underestimated the
rise in the volume of imported goods and overestimated capital
investment by companies,
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Sarkozy renames French opposition, 'The Republicans'
More than 80% of UMP members backed the name
change on Friday Former French president Nicolas Sarkozy has changed
his party's name from Union for a Popular Movement (UMP) to The
Republicans.Members of France's main opposition party voted to
support the re-branding on Friday, with 83% of members approving the
move.
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