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"The US manufacturing dropped in June, for the first time in three years indicating that economic growth is declining. A monthly report showed that there was a decline in production and exports and in the number of new orders received. "

"Top chip gear maker Applied Materials Inc has reduced its full-year targets due to a sudden decline in orders from its biggest market towards the end of the current quarter. Concern about a declining trend in global technology spending has also hit Asian chip firms. "

"The Bank of Japan has held back increase of monetary stimulus with the result that stocks dropped. This has resulted in the bank increasing its asset-purchase fund and reducing a credit-loan facility by the same amount."

"The number of foreclosures in the first half of the year dropped by 11 percent. Bank repossessions also led to overall foreclosure activity dropping in the second quarter because of a dip in bank repossessions. "

"Bristol-Myers Squibb Co has agreed to acquire Amylin Pharmaceuticals Inc, a maker of diabetes therapies at a total cost of $5.3 billion as it is desperately trying to replace revenue that it is losing from the declining sales of its blood thinner that is facing generic competition."

"The US economy is cooling off, which is evident from the government data released on Friday that showed consumers spent less in May and increased their savings. Personal spending dropped less than 0.1 percent in May, which represented the first decline since last November. "

"Manufacturing activity in most of Asia slowed down according to economic data released on Monday, except in Indonesia that showed enough resilience to be able to withstand tough overseas conditions. More central bank easing is expected in order to boost economic growth. "

"British insurer Aviva is planning to sell or close 16 underperforming businesses as part of a strategic shake-up in order to improve its finances and stem its declining share price."

"Growth in PC sales has stalled in the second quarter, despite heavy marketing by Intel of new breed of sleek notebook computers. The decline in demand is the result of stiff competition from Apple's iPad and other tablets. "

"The Japanese advertising company, Dentsu is buying Britain's Aegis Group Plc for 3.16 billion pounds ($4.9 billion) in order to create a global media and marketing network. A company with 33,000 workers will be created as a result of this deal. "