WASHINGTON (Reuters) -U.S. business inventories were unchanged for a second straight month in May, suggesting that inventories could subtract from gross domestic product in the second quarter. The flat reading in inventories reported by the Commerce Department's Census Bureau on Thursday was in line with economists' expectations. Inventories are a key component of GDP. They increased 1.7% year on year....

WASHINGTON (Reuters) -The U.S. Justice Department on Thursday said it had launched an employment discrimination probe into George Mason University in Virginia, making it the latest college to be targeted by the Trump administration. The civil rights probe will examine whether George Mason, a state university, is engaged in discriminatory practices based on race and sex, the department said. It...

(Reuters) -Former Federal Reserve Governor Kevin Warsh, seen as a potential successor to Fed Chair Jerome Powell, said on Thursday there needs to be a new accord between the Treasury Department and U.S. central bank, referencing a 1951 pact that separated federal debt management from monetary policy. Warsh, now a fellow at Stanford University's Hoover Institution, said on CNBC that...

(Reuters) -San Francisco Federal Reserve President Mary Daly reiterated on Thursday it is reasonable to expect two interest rate cuts before the end of this year, particularly with the impact of President Donald Trump's tariffs looking more muted than originally expected. Inflation is still above the U.S. central bank's 2% target and there's still some work to do to bring...