Daily Investor Briefing: S&P 500 dips, blue chips lead late...

Click to View in Browser 03/29/2012 S&P 500 dips, blue chips lead late comeback NEW YORK (Reuters) - The S&P 500 and Nasdaq shook off earlier losses to end slightly lower on Thursday, while the Dow industrials eked out gains as investors took advantage of a selloff to buy recently outperforming blue chips. Apple, Foxconn vow wide revamp of worker conditions SAN FRANCISCO (Reuters) - In a landmark development for the way Western companies do business in China, Apple Inc said Thursday it had agreed to work with partner Foxconn to substantially improve wages and working conditions at the factories that produce its wildly popular products. Quarter four income trends up, boost for spending WASHINGTON (Reuters) - Household income grew at a faster pace in the fourth quarter than previously thought as the jobs market strengthened, a development that could underpin consumer spending. Best Buy sales, restructuring disappoint (Reuters) - Best Buy Co reported weaker-than-expected quarterly sales and said it would close 50 large U.S. stores and lay off another 400 employees, disappointing investors looking for even deeper cuts to turn around the world's largest consumer electronics chain. Pentagon sees mass layoffs if budget cuts prevail WASHINGTON (Reuters) - The Pentagon said on Thursday it would expect hundreds of thousands of layoffs across the defense industry if lawmakers did not take action to avert an additional $500 billion in defense budget cuts that could take effect in January 2013. Euro zone to back higher combined bailout fund: draft COPENHAGEN (Reuters) - Euro zone finance ministers will raise the combined firepower of the region's two bailout funds to a potential 940 billion euros from 500 billion on Friday, a draft statement showed. Goldman kicks off Indian charm offensive MUMBAI (Reuters) - Goldman Sachs sought to charm corporate India on Thursday by holding its first annual board meeting in the country, against a backdrop of slow business, a cooling economy and tough regulation. Tim Tebow apparel sales halted in Nike-Reebok feud (Reuters) - Nike Inc has won a court order blocking rival Reebok International Ltd from selling New York Jets apparel bearing the name of the popular quarterback Tim Tebow, in a battle over licensing rights. Bank of America gets $1 billion Baupost lawsuit dismissed NEW YORK (Reuters) - Bank of America Corp on Thursday won dismissal of a lawsuit by investors who wanted the bank to buy back mortgage loans that underlie more than $1.06 billion of securities. Murdoch's media empire strikes back LONDON (Reuters) - An angry Rupert Murdoch on Thursday declared war against "enemies" who have accused his pay-TV operation of sabotaging its rivals, denouncing them as "toffs and right wingers" stuck in the last century. Related Video BRICS bank hard to cement: Zoellick 3XSQ: Facebook's May plan, Goldman goes to India Related News Best Buy sales, restructuring disappoint Bernanke: Economy to return to trend growth 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