M&A slumps again in first quarter

NEWS

LONDON -- Cross-border mergers and acquisitions (M&A) activity slumped again in the first quarter of 2002, down 50% year-on-year, according to data released last week by UK capital markets research firm Dealogic.

And down from an already weak performance in 2001, the decrease in M&A activity -- one of the key sources of forex trading business -- is unlikely to turn around this year, said analysts and traders interviewed by FX Week.

"A while back we saw an increase in the importance of cross-b