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Large companies are pouring money into research and development at an unprecedented rate, in response to growing global competition. The international R&D Scoreboard, published on Monday, shows a 7 per cent increase in spending by the world’s top 1,250 companies.
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But the scoreboard – the world’s most comprehensive R&D ranking – provides little reassurance for European policymakers who are concerned about Europe’s poor long-term R&D performance. European companies spent 5.6 per cent more in 2005-6 than the average of the previous four years. The comparable increase for US companies was 15.4 per cent.

The most spectacular growth is in Asia. The 44 Taiwanese companies in the scoreboard increased their R&D investment by 30.5 per cent last year, while the 17 South Korean companies posted 11.9 per cent R&D investment growth.

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FT.com / World / International economy - Global competition sparks spending spree