OTHER NEWS - Sept. 25, 1996

World Investment Soars to Record $315 Billion: A report by the United Nations said business investment in foreign countries surged nearly 40% in 1995, with much of the money going into takeovers of existing companies rather than construction of factories. The U.S. is the biggest target for foreign investors and also the biggest source of money for investment elsewhere, said the World Investment Report 1996. U.S. firms made foreign investments of $96 billion last year, whereas other countries invested $60 billion in the United States. The 332-page annual report by the U.N. Conference on Trade and Development does not discuss whether the investment flows move jobs from one country to another. The previous record for all business investment in other countries was $226 billion in 1994.