Businesses to Slash Overseas Investment Amid Pandemic Risks

Businesses will slash new overseas investments by 40% this year and as much as 10% next year, according to new United Nations forecasts, as disruptions from the coronavirus pandemic push multinationals to bring production closer to home. The trend will hit poorer, developing countries hardest.

In its annual report on the prospects for foreign direct investment, the U.N. Conference on Trade and Development said falling profits would be the main factor behind this year’s collapse in new investment. Unctad said profits among…

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