Wall St. drifts before long weekend; consumer stocks up
U.S. stocks ended little changed on Friday ahead of the long holiday weekend, though indexes ended a two-week streak of losses and consumer shares were strong for a second day.
LONDON Jaguar Land Rover and Chery Automobile CHERY.UL said on Sunday they had laid the foundation stone for a new car factory in Changshu, China, near Shanghai.
The move had been expected after the partners recently won Chinese regulatory approval for the joint venture to make Jaguar Land Rover (JLR) vehicles and new models for a partnership brand in China.
The deal marks the latest effort by JLR, which is controlled by India's Tata Motors Ltd (TAMO.NS), to expand its appeal in the world's largest auto market, where luxury sedans and SUVs remain in hot demand even as the overall car market cools.
It will also help raise the profile of Chery, a mass volume player aspiring to gain access to the lucrative upscale segment dominated by foreign brands.
(Reporting by Ben Hirschler; Editing by David Cowell)
TORONTO The Toronto Stock Exchange's efforts to win a slice of the massive Saudi Aramco public listing plays up the country's deep experience in natural resources as part of a broader offer to help the kingdom with its shift away from oil dependence.
Billionaire Carlos Slim is looking to sell a minority stake in Telesites SAB de CV , the Mexican wireless tower company that he controls, people familiar with the matter said on Friday.