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QQQ 611.67-1.9%Nov 6 4:00 PM EST
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To: Chris McConnel who wrote (603)6/19/2003 8:54:04 PM
From: Jon Khymn   of 795
 
Foreign investment in U.S. and UK slumps - OECD
Thursday June 19, 7:13 pm ET

LONDON, June 20 (Reuters) - Foreign direct investment in the United States and Britain dropped sharply in 2002 as the ongoing economic slump, relatively weak stock markets, uncertainty over international security and heavy corporate debt loads took their toll, according to a leading think tank.
The Paris-based Organisation for Economic Co-operation and Development (OECD), which covers a group of 30 mainly rich countries, said the United States suffered a 77-percent slide in foreign direct investment to $30 billion in 2002 from $131 billion last year. In Britain the drop was around 60 percent, to $25 billion.

If the downward trend of mergers and acquisitions in the first five months of the year continues, the organisation said OECD countries could see a further retreat of 25-30 percent this year.

biz.yahoo.com
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