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(From Financial Director)
Foreign investment
Direct investment abroad by UK companies fell to GBP23.5bn in 2002 - a decrease of GBP17.4bn on the amount invested in 2001, according to National Statistics. The reduction on 2002 reflects the disinvestment in the Americas, partly offset by an increase in flows of investment to Europe. The level of foreign direct investment in the UK rose to GBP352.6bn at the end of 2002 from GBP349.3bn a year earlier. www.statistics.gov.uk
Pension scheme recovery
The pension scheme deficit of FTSE-100 companies has halved to GBP50bn over the past 12 months, according to Hewitt Bacon & Woodrow. It cautioned employers and trustees to beware of other factors that would cause new strains on pension scheme funding positions, such as a projected increase in life expectancy for pensioners.
www.hewittbacon
woodrow.co.uk