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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. U.S. producer price index (PPI) climbed 0.8% in the 12 months leading to July, up from a 0.2% rise in the previous month, as costs of services increased. The drop in megacap growth and technology stocks, which have led outsized gains this year, has put the tech-heavy Nasdaq (.IXIC) and the S&P 500 (.SPX) on track to end lower for a second straight week. Declining issues outnumbered advancers by a 1.10-to-1 ratio on the NYSE and a 1.49-to-1 ratio on the Nasdaq. The S&P index recorded four new 52-week highs and three new lows, while the Nasdaq recorded 34 new highs and 131 new lows.

Persons: Brendan McDermid, Refinitiv, David Russell, Russell, Rupert Murdoch, Bansari Mayur Kamdar, Johann M, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Corp, Dow, Nasdaq, Federal Reserve, Nvidia, Microsoft, Benchmark, Dow Jones, University of Michigan, News Corp, NYSE, Thomson Locations: New York City, U.S, China, JD.com, Bengaluru

☆ X CEO Linda Yaccarino says the company is 'keeping an eye on everything' that rival Threads is doing
▼ + stars: | 2023-08-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Linda Yaccarino told CNBC "we're keeping an eye on everything" Threads is doing. "You can never ever take your eye off any competition," the X CEO said, as Threads unveils more features. Linda Yaccarino, the CEO of X — the company formerly known as Twitter — told CNBC on Thursday "we're keeping an eye on everything" Threads is doing. Although less than a month later, Mark Zuckerberg told staff that more than half of Threads users had already stopped using it, Reuters reported. "It's dropped off dramatically," Yaccarino told CNBC.

Persons: Linda Yaccarino, X, Twitter —, Meta, Mark Zuckerberg, It's, Yaccarino, Zuckerberg, Elon Musk Organizations: CNBC, Twitter, Reuters

☆ Mushrooms are flourishing in the Abu Dhabi desert
▼ + stars: | 2023-08-10 | by ( Sarah Lazarus | ) edition.cnn.com time to read: +4 min

Now, a startup in Abu Dhabi has found a way to grow them in the middle of the desert. Below Farm is producing “specialty mushrooms” such as oyster, king oyster, shiitake and lion’s mane. Managing director Bronte Weir says the indoor farm, about 45 minutes’ drive from downtown Abu Dhabi, is the first in the region to grow and sell high-end mushrooms. He now orders 20 kilograms (44 pounds) of oyster mushrooms a week from the company. Neighborhood pizzeria Marmellata uses Below Farm's produce on one of its most popular dishes: the kale and mushroom pizza.

Persons: Bronte Weir, ” Weir, Liliana Slowinska, Wojciech Slowinski, Weir, isn’t, Abu, we’ve, ”, “, we’re, Dagstani Organizations: Hong Kong CNN, CNN Business, Business Research Company Locations: Hong Kong, Abu Dhabi, Europe, United States, UAE

☆ Finding a good dividend stock is getting harder to find these days. Here are five.
▼ + stars: | 2023-08-08 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Global dividends will total just over $2 billion in 2023, completely flat with last year, according to a new report from S & P Global Market Intelligence. This the lowest growth rate in the last 10 years aside from the pandemic contraction in 2020, the new report from S & P notes. As a first step, we looked at companies that are in the S & P Dividend Aristocrats index. S & P Global is another name on the list. For investors looking for dividend growth who do not want to bet on individual names, the ProShares S & P 500 Dividend Aristocrats ETF tracks the performance of the special S & P index.

Persons: Albemarle Organizations: Wall, P Global Market Intelligence, CNBC, Global, P Global, Utilities, NextEra Energy, Industrial, Emerson Electric, General Dynamics Corporation, General Dynamics

☆ Mark Zuckerberg said its Threads community is 'on the trajectory I expect' despite its plummeting daily user base
▼ + stars: | 2023-08-05 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg said its Threads user base is "on the trajectory I expect" despite many users leaving already. The Meta chief said it has been a "good week for Threads" in a post on the text-based app. Mark Zuckerberg said it has been a "good week" for Meta's new social network Threads in spite of its daily active user base plummeting since its launch. The data showed it had 8 million users at the end of July, down from a high of 44 million days after Threads launched on July 5. Zuckerberg wrote in a Threads post: "A good week for Threads.

Persons: Mark Zuckerberg, Zuckerberg, Instagram, Adam Mosseri, Meta didn't

The yield on the 10-year benchmark note dipped on Friday after the jobs data, but still remained above 4%, partly boosting some megacap stocks. "At this point in some ways the jobs data doesn't do much to the Fed. Giving solid boost to the S&P 500 index, Amazon.com shares (AMZN.O) surged 10.9% after the company issued an upbeat third-quarter outlook. Of the 422 companies in the S&P 500 that have reported quarterly earnings as of Friday, 79.1% have beat analysts' estimates, according to Refinitiv data. Amgen (AMGN.O) gained 6.2% after it reported a higher quarterly profit on strong sales of its cholesterol, osteoporosis and other drugs.

Persons: Brendan McDermid, David Russell, Stocks, Carl Icahn, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Organizations: New York Stock Exchange, REUTERS, Apple, Dow, Nasdaq, Labor Department, Data, Reuters, Fed, Treasury, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Threads' user base has plummeted more than 80%. Meta's app ended July with just 8 million daily active users.
▼ + stars: | 2023-08-04 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

Threads closed July with 8 million daily active users, down 82% from its peak, according to Sensor Tower data. Meta's Twitter clone, which launched July 5, had 44 million daily active users on July 7. Data from the market intelligence firm Sensor Tower showed Meta's Twitter clone ended July with 8 million daily active users. That's about an 82% drop from its peak daily active user count of 44 million just days after Threads launched, Sensor Tower reported. Since then, Threads has added a following tab on its feed, among other features, Threads programmer Cameron Roth wrote in a Threads post.

Persons: Mark Zuckerberg, haven't, buzzy influencers, Zuckerberg, Adam Mosseri, Mosseri, Cameron Roth Organizations: Twitter, Meta

☆ Japan's factory activity falls on soft orders - PMI
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Aug 1 - Japan's factory activity contracted at a faster pace in July, a business survey showed on Tuesday, taking a hit from soft orders amid weakening global economic conditions. Data on Monday showed Japan's factory output grew in June for the first time in two months thanks to solid auto production. Subindexes gauging new orders and output both stayed in the sub-50 territory in June for a second month. Japan has to date weathered worsening global economic conditions relatively well thanks to robust domestic service activity and ultra-loose monetary policy. On a brighter note, the S&P survey showed easing cost pressures for companies thanks to sliding fuel and commodity prices.

Persons: Usamah Bhatti, Bhatti, Sam Holmes Organizations: Jibun Bank, P Global Market Intelligence, Thomson Locations: TOKYO, Jibun Bank Japan, Japan

☆ Why JPMorgan's trading desk says a new record high in the S&P 500 'feels inevitable'
▼ + stars: | 2023-08-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

A group of analysts from JPMorgan's trading desk say a new record high for S&P 500 "feels inevitable." The S&P 500 closed at 4,576.73 on Tuesday, less than 5% shy of its record closing level of 4,796.56 reached in January 2022. The fact earnings can beat expectations in an high-rate environment creates the argument for elevated valuations, in their view, and that could push the S&P 500 well beyond record highs. Anastasia Amoroso, iCapital's chief investment strategist, told Insider on Monday that all-time highs indeed look possible for the S&P 500 in the near-term. Steady multiples and fulfilled earnings expectations should be enough to justify the S&P 500 at 4,800 or above."

Persons: Andrew Tyler, there's, that's, it's, Anastasia Amoroso, Amoroso Organizations: Service, Federal Reserve Locations: Wall, Silicon

☆ Indian factory growth eased for second month in July, but kept healthy pace
▼ + stars: | 2023-08-01 | by ( Anant Chandak | ) www.reuters.com time to read: +2 min

BENGALURU, Aug 1 (Reuters) - Growth in India's manufacturing activity eased in July for a second month, with some moderation in output and new orders, although the pace of expansion remained healthy, a private business survey showed on Tuesday. The sector has remained resilient despite declines in manufacturing activity in other major producers, suggesting Asia's third-largest economy is still on robust footing. "The Indian manufacturing sector showed little sign of losing growth momentum in July as production lines continued to motor on the back of strong new order growth." New orders remained robust in July, and while output growth moderated to a three-month low it remained strong. With input prices rising at the quickest pace since October, output prices also rose, but at a slower pace compared with the previous month, highlighting uncertainty regarding inflation.

Persons: Andrew Harker, Harker, Anant Chandak, Kim Coghill Organizations: Manufacturing, P, P Global Market Intelligence, Bank of, Thomson Locations: BENGALURU, Bank of India

☆ Canadian factory activity slows for third straight month in July
▼ + stars: | 2023-08-01 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

[1/2] Factory workers operate machine presses at Abipa Canada in Boisbriand, Quebec, Canada May 10, 2023. The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 49.6 in July from 48.8 in June. "July's PMI results offered a rather mixed bag on the performance of the Canadian manufacturing sector," Paul Smith, economics director at S&P Global Market Intelligence, said in a statement. The new orders index, at 49.2, was in contraction for the fifth straight month, although up from 48.5 in June. The port strikes and wildfires limited the improvement in vendor performance, S&P Global said.

Persons: Evan Buhler, Paul Smith, Fergal Smith, Paul Simao Organizations: Canada, REUTERS, Reuters Connect TORONTO, P Global Canada Manufacturing, PMI, P Global Market Intelligence, Bank of Canada, Canada's, P Global, Thomson Locations: Boisbriand, Quebec, Canada, United States

☆ S&P Global misses profit estimates as Commodity Insights, Indices units struggle
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

On an adjusted basis, its profit of $3.12 per share missed analysts' average estimate of $3.14 per share, as per Refinitiv IBES data. Growth in revenues from the company's Commodity Insights and Indices segments could not meet Street expectations. S&P's Market Intelligence segment posted a 5% rise in sales, taking the firm's total revenue up 4% to $3.1 billion in the quarter through June. S&P Global, which provides essential market intelligence to governments, corporates and institutional investors, completed the divestiture of its Engineering Solutions unit to global investment firm KKR Inc (KKR.N) in May. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: Jaiveer Singh, Shweta Agarwal Organizations: Intelligence, P Global Inc, P's, P, Solutions, KKR Inc, Thomson Locations: Bengaluru

☆ KKR's private equity co-head says it's a great time to do deals, but be sure to exercise caution
▼ + stars: | 2023-07-27 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Brendan McDermid | ReutersPrivate equity firms should be motivated to hunt for deals despite the challenging interest rate environment as the potential purchase price tends to be more in their favor, according to KKR's Global Co-Head of Private Equity Pete Stavros. "This is a great time to do deals," Stavros said in an interview with CNBC's Leslie Picker for the Delivering Alpha newsletter. Zoom In Icon Arrows pointing outwardsPrivate equity fundraising has slowed down drastically after a series of aggressive interest rate hikes made borrowing costs skyrocket. Globally, private equity funds raised $444.65 billion in the first half, down 20.5% year over year from, according to S&P Global Market Intelligence. "When the public markets are more volatile and when credit markets are tighter, better return deals are done.

Persons: Brendan McDermid, Private Equity Pete Stavros, Stavros, CNBC's Leslie Picker Organizations: KKR, New York Stock Exchange, Reuters, KKR's Global, Private Equity, Delivering Alpha, P Global Market Intelligence

☆ Samsung reports 95% drop in profit, but expects global demand to recover in second half of the year
▼ + stars: | 2023-07-27 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

A Samsung Galaxy Z Fold 5 smartphone, left, a Galaxy Z Flip 5 smartphone during the Galaxy Unpacked event in Seoul, South Korea, on Wednesday, July 26, 2023. Both DRAM and NAND flash memory chips also saw "more limited price drops" which improved second-quarter performance, compared with the first quarter, Samsung said. Weak electronics demandSamsung said that overall mobile phone market demand declined from the first quarter due to continued macroeconomic challenges such as inflation. Inflation has led to consumers cutting back on purchases of these goods, driving down prices for memory chips. Focus on premium foldable phonesSamsung said it will focus on the newly launched high-end Galaxy Z Flip 5 and Galaxy Z Fold 5 series to cement its leading position in the global foldable smartphone market.

Persons: SeongJoon Cho, Nabila Popal, Bryan Ma Organizations: Samsung, Galaxy, Apple Inc, Bloomberg, Getty, International Data Corporation, Micron, SK Hynix, IDC Locations: Seoul, South Korea, China

☆ U.S. business activity growth slows as services soften
▼ + stars: | 2023-07-24 | by ( Safiyah Riddle | ) www.reuters.com time to read: +3 min

July's reading showed the sixth straight month of growth but was restrained by softening conditions in the service sector. “The overall rate of output growth, measured across manufacturing and services, is consistent with GDP expanding at an annualized quarterly rate of approximately 1.5% at the start of the third quarter. The slowdown may be viewed positively at the Fed, which is keen to see activity cool to lower inflation. The services activity index fell to 52.4 from 54.4 in June and was weaker than the reading of 54 expected among economists in a Reuters poll. The survey's manufacturing output index, meanwhile, experienced growth for the first time in two months, rising to 50.2 from a contracting rate of 46.9 in June.

Persons: Chris Williamson, Williamson, Safiyah Riddle, Andrea Ricci Organizations: P Global, P Global Market Intelligence, headcount, Thomson Locations: U.S

While global supply networks recover from the pandemic shock, fresh impetus is coming from tougher environmental standards, which drive companies to invest in new technologies to reduce their and their suppliers' emissions. "So in battery, steel, aluminum and cast iron we will only source green materials and technologies by 2030," Foller told Reuters. The foundation told Reuters it would also consider further investments in producers of steel, construction and green aluminium produced with hydropower or from recycled materials. Scania said that following its 10 million euro ($11.15 million) seed investment in H2GS in 2021, it has entered a steel supply agreement from 2027. While companies will keep investing in their suppliers in the short to medium term, the market will eventually reach saturation, said Jon Chadwick, global energy transition lead at PricewaterhouseCoopers.

Persons: Andreas Follér, Foller, Rebecca Campbell, China's, Scania's Foller, Britain's, They're, Maybel Saleh, Case's Campbell, Jon Chadwick, Clara Denina, Sarah McFarlane, Helen Reid, Veronica Brown, Tomasz Janowski Organizations: IKEA, Climate Tech VC, Scania, Reuters, White &, Export, GM, IMAS Foundation, Airlines, EMEA, Citi . Supply, Equity, PricewaterhouseCoopers, Thomson Locations: Ukraine, China, Russia, Beijing, Sweden, Swedish, H2GS, Norway, Germany, Indonesia, Britain, Bristol

☆ These stocks could be taken over in the next 12 months, Goldman speculates
▼ + stars: | 2023-07-21 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

The Wall Street investment bank polled its analysts about the probability of M & A activity of the companies under its research coverage. Analysts were tasked with assigning a "1" ranking to those possible targets if the probability was 30%-50% of M & A activity in the next 12 months. In a tight credit environment and amid concern about a looming recession, M & A activity saw a sluggish first half of the year. The market is expected to open up as interest rates stop rising, and the stocks on Goldman's list could have the potential to be taken over once credit becomes more available. Health care stocks Maravai LifeSciences , Quanterix Corp ., Enhabit also have a relatively high likelihood of being M & A targets in the next 12 months, according to Goldman analysts.

Persons: Goldman Sachs, Bud, Enhabit, Goldman Organizations: Companies, P Global Market Intelligence, Molson Coors Beverage, Bellring Brands, Foods, Citi, Molson Coors, Quanterix Corp

☆ Buyout barons feast on excesses of last boom
▼ + stars: | 2023-07-21 | by ( Jonathan Guilford | ) www.reuters.com time to read: +7 min

That opens up plenty of potential loopholes which could allow borrowers to keep their old loans even after a deal. Lenders explicitly allow a company’s so-called “permitted holders” - typically its management or long-time investors - to assume responsibility for the debt. For example, one definition of a change of control is where the majority of board seats change hands. That means the company’s debt can stay put, news service 9fin reported. Interest rates for loans provided by private lenders have risen from 6.2% to 11.6% over a similar time frame.

Persons: Clayton, Rice, Breakingviews, 9fin, Cooper’s, Blackstone, Datacenters, Murray, dealmakers, Peter Thal Larsen, Sharon Lam, Streisand Neto Organizations: YORK, Reuters, Partners, P, Reuters Graphics Reuters, Cornerstone, Focus Financial, Stone, Point, Smart, Securities, Exchange, NRG Energy, QTS Realty Trust, Foresight Energy, American Consolidated Natural Resources, Foresight, P Global Market Intelligence, Thomson, & $ Locations: Dubilier, Delaware

☆ US retail sales miss expectations; underlying sales strong
▼ + stars: | 2023-07-18 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Retail sales increased 0.2% last month, the Commerce Department said on Tuesday. Economists polled by Reuters had forecast retail sales gaining 0.5%. Retail sales are mostly goods and are not adjusted for inflation. Clothing store sales increased 0.6% in June, while online sales surged 1.9%. Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.6% in June.

Persons: David Russell, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Commerce Department, Reuters, Market Intelligence, Consumers, Reuters Graphics, Federal Reserve, Thomson Locations: WASHINGTON, U.S

☆ Elon Musk says Twitter's ad revenue drops 50% and cash flow is negative
▼ + stars: | 2023-07-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Elon Musk disclosed on Twitter Saturday that, due to a 50% drop in advertising revenue and a “heavy debt load,” the platform still has a negative cash flow. Ad revenue has been a contentious issue and an uphill battle for the site, after hordes of advertisers fled after Musk took over. The New York Times reported that Twitter’s US advertising revenue from the five weeks from April 1 to the first week of May was down 59% year-over-year, citing an internal presentation. “It’s definitely been extremely difficult,” Musk said in Twitter Spaces livestream event Musk hosted with Robert F. Kennedy, Jr last month. On Thursday, Twitter announced content creators would be able to get a slice of the site’s ad revenue, seemingly to encourage more creators to join the site.

Persons: New York CNN — Elon Musk, Musk, Linda Yaccarino, “ It’s, ” Musk, Robert F, Kennedy, Jr, it’s, Andrew Tate, “ Organizations: New, New York CNN, Twitter, BBC, The New York Times, CNN Locations: New York, Romania

U.S. producer prices barely rose in June and the annual increase in producer inflation was the smallest in nearly three years. Keeping a lid on optimism, a separate report showed weekly jobless claims unexpectedly fell last week, indicating that the labor market remains tight. InflationTraders expect a 20% probability that the central bank will hike borrowing costs in its November meeting but have fully priced in a 25-basis-point rate hike later in July. Five of the 11 major S&P 500 sectors advanced, with communications services (.SPLRCL) leading gains boosted by a 4.9% jump in Alphabet (GOOGL.O). Overall, earnings for the S&P 500 constituents are expected to have dropped 6.4% in the second quarter, Refinitiv data showed.

Persons: IRPR, David Russell, Bard, ChatGPT, Johann M Cherian, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel Organizations: PepsiCo, Dow, Nasdaq, Federal Reserve, Dow Jones, Google, Microsoft, Delta Air Lines, Meta, NYSE, Thomson Locations: Europe, Brazil, Bengaluru

☆ SVB, BBBY, Lordstown lead list of US bankruptcies as companies fold up at the fastest pace since 2010
▼ + stars: | 2023-07-07 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

First-half US corporate bankruptcies surged to the highest level since 2010, data from S&P Global Market Intelligence shows. Almost 3,000 firms folded up in the last six months, a 68% jump from a year earlier, according to Epiq Bankruptcy. American businesses have come under increased stress after the Federal Reserve raised interest rates aggressively. Total company failures for the period surged 68% from a year earlier to almost 3,000, according to data provider Epiq Bankruptcy. Rising corporate bankruptcies are a worrying sign for the wider US economy, which is already under strain from the effects of the Fed's aggressive interest rate hikes.

Persons: —, David Rosenberg, Morgan Stanley, Mike Wilson, Gregg Morin Organizations: P Global Market Intelligence, Federal Reserve, Service, Valley, Bed, Lordstown Motors, Mediamath Holdings, Epiq, Business Development

☆ A $12 phone is opening doors for rural India to get on the internet
▼ + stars: | 2023-07-06 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +7 min

All that could change with a new $12 phone from Reliance Jio this week. India is already the world's second-largest smartphone market and is likely to add 300 million new internet users, making it the fastest country to provide internet services to those who remain unconnected, Mishra said. "However, screen size can limit the experience a bit, but still good for first-time internet users." Reliance Jio has rolled out 5G services in 406 cities in India. Additionally, Singh highlighted that Reliance Jio hopes first-time internet users who purchase the Jio Bharat will eventually upgrade to more advanced phones down the road.

Persons: Mukherjee, Akash Ambani, Jio Bharat, Varun Mishra, Mishra, Navkendar Singh, Singh, Jio, Bharat, There's, Nikhil Batra, Batra, Research's Mishra Organizations: International Data Corporation, Afp, Getty, Reliance, Reliance Industries, Counterpoint Research, CNBC, Vodafone, Aditya Birla Group, Vodafone Group —, BSNL, IDC, Nurphoto, Macquarie Research, Vodafone Idea, Bharti Airtel, Macquarie, Jio, Airtel Locations: India, Jio, Delhi, Mumbai, Kolkata, Bihar, Jammu, Kashmir, Himachal Pradesh

☆ Japan's service activity maintains firm pace as demand picks up - PMI
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 5 (Reuters) - Japan's service activity maintained a brisk pace of growth in June as the relaxation of pandemic-related restrictions revived consumer demand, a private-sector survey showed on Wednesday. The final au Jibun Bank Japan Services purchasing managers' index (PMI) fell to a seasonally adjusted 54.0 last month from a record-high 55.9 in May. That compared with the flash reading of 54.2 and remained well above the 50 threshold separating expansion from contraction for the 10th straight month. The composite PMI, which combines the manufacturing and services activity figures, slowed last month after peaking in May. The index dropped to 52.1 in June from 54.3 in May, staying above the break-even 50 mark for the sixth straight month.

Persons: Usamah Bhatti, Satoshi Sugiyama, Sam Holmes Organizations: Jibun Bank Japan Services, P Global Market Intelligence, Bank of Japan, PMI, Thomson Locations: TOKYO

☆ Japan factory activity slips back into contraction in June on soft orders
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 3 (Reuters) - Japan's factory activity contracted in June after expanding for the first time in 7 months in May, a private survey showed on Monday, dragged down by weak orders for cyclical goods amid a global economic slowdown. Output and new orders, the subindexes that constitute the majority of the headline index, fell back to contraction, ending a brief rebound buoyed by improved business confidence. New orders from overseas customers decreased at the fastest rate in four months, notably reflecting feeble demand from China, Japan's biggest trade partner. The soft PMI reading came after Friday's government data showed Japanese manufacturing output falling more than expected in May, dented by automakers' parts shortage and production cuts. The rise in input and output prices were the slowest in 28 months and 21 months, respectively.

Persons: Usamah Bhatti, Kantaro, Shri Navaratnam Organizations: Jibun Bank, P Global Market Intelligence, Thomson Locations: TOKYO, Jibun Bank Japan, China, dented, Japan

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