Business Today: U.S. GDP revised down, but hints of economic thaw emerge

	Click to View in Browser 02/28/2014 U.S. GDP revised down, but hints of economic thaw emerge WASHINGTON (Reuters) - The U.S. government slashed its estimate for fourth-quarter economic growth on Friday in the latest sign of a loss of momentum, but some tentative signs emerged that suggested the worst of the slowdown may be over. S&P closes at record but Ukraine concerns cut gains NEW YORK (Reuters) - The S&P 500 closed at a record on Friday but ended well off the day's highs as worries about tensions in Ukraine caused investors to take profits ahead of the weekend. Fed may need to let inflation run hot to meet goals: Evans NEW YORK (Reuters) - The Federal Reserve should be willing to let inflation temporarily run above its target level so as to more quickly bring the economy back to health, a top Fed official said on Friday, even as a second policymaker signaled the very idea left him cold. Mt. Gox files for bankruptcy, hit with lawsuit TOKYO (Reuters) - Mt. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual coins due to hacking into its faulty computer system. Citigroup reports fraud in Mexico unit, lowers 2013 results NEW YORK/MEXICO CITY (Reuters) - Citigroup Inc said on Friday that it has discovered at least $400 million in fraudulent loans in its Mexico subsidiary and said employees may have been in on the crime. Sears says investigating possible security breach BOSTON (Reuters) - Sears Holdings Corp said Friday it has launched an investigation to determine whether it was the victim of a security breach, following Target Corp's revelation at the end of last year that it had suffered an unprecedented cyber attack. Panama Canal says deal with consortium to be signed next week PANAMA CITY (Reuters) - The Panama Canal Authority said on Friday it expects to sign a financing deal next week to finish work on expanding the waterway and end a dispute over cost overruns that has held up the multibillion-dollar project. Japan's Fast Retailing in talks to buy J.Crew: WSJ NEW YORK (Reuters) - Fast Retailing , parent of clothing retailer Uniqlo, is in talks to buy J.Crew for as much as $5 billion, the Wall Street Journal reported on Friday. Legal test central to U.S. union challenge of VW plant vote (Reuters) - A bid by the United Auto Workers union to invalidate the results of an election it lost at a Tennessee Volkswagen plant may hinge on the novel application of a legal test used by U.S. labor regulators to assess third-party interference. American Air flight attendants pact on union representation (Reuters) - Flight attendants at US Airways, which merged with AMR Corp late last year to form American Airlines Group , on Friday approved an agreement to change their union at the merged company. Related Video Simple blood test could revolutionise schizophrenia diagnosis Is Ukraine rescue deal possible? Economic News U.S. GDP revised down, but hints of economic thaw emerge Fed may need to let inflation run hot to meet goals: Evans A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend