SENSEX SNAPS NINE-DAY LOSING STREAK, GAINS OVER 400 POINTS

MUMBAI: Reversing a nine-session falling streak, the BSE Sensex rebounded 404 points on Wednesday as investors snapped up recently hammered stocks amid optimism in global markets over Us-china trade talks. After a firm opening, the 30-share index stayed in the positive terrain throughout the session before finally finishing at 35,756.26, up 403.65 points, or 1.14%. The broader NSE Nifty soared 131.10 points, or 1.24%, to 10,735.45. In the past nine sessions, the Sensex had lost 1,622.62 points, while the Nifty cracked 465.05 points over eight trading days. Metal, information technology and banking counters chalked up smart gains on Wednesday, with Vedanta topping the Sensex winners list with a jump of 4.67%.

Sony opens up internal startup programme

TOKYO : Sony Corp., once known for innovations like the Walkman, will begin to back entrepreneurs outside the company with money, marketing support and more as it seeks more breakthroughs. The Tokyo-based company said on Wednesday it would open up an internal accelerator program to external entrepreneurs, including a partnership with Tokyo University under which students can turn ideas into businesses. Depending on the opportunity, Sony may invest, strike an alliance, provide office space or support the startups with its own marketing and sales expertise. It may also acquire the businesses. “All kinds of people should have a chance to be an entrepreneur, that’s our slogan,” said Shinji Odashima, head of Sony’s accelerator program, at an event in Tokyo.

Airbus says A320neo India deliveries back on track

BENGALURU: European aircraft maker Airbus deliveries of its A320neo aircraft are back on track in India with fewer problems being seen with the narrow body jet’s Pratt & Whitney engines, a senior company executive said on Wednesday. “Pratt has informed Airbus that engine issues have come down by a factor of four in the last 12 months,” said Airbus’ India head Anand Stanley, on the sidelines of the Aero India airshow in Bengaluru. Last month, India’s aviation safety watchdog forced airlines to make extra checks on their Airbus A320neo aircraft fitted with Pratt & Whitney engines, as part of new safety protocols after temporary grounding orders affected the planes last year. Indigo and Goair, both fly the A320neos.

Musk: Tesla will make 500,000 cars in 2019

SINGAPORE: Elon Musk said Tesla Inc. will make about 500,000 cars this year, a prediction that’s difficult to gauge given the chief executive officer’s proclivity for setting stretch goals. The number Musk put in a Twitter posting late Tuesday is roughly in line with his previous comments, depending on which figures investors paid attention to when Tesla reported earnings. In a letter to shareholders, Musk and his chief financial officer forecast 400,000 total vehicle deliveries this year. But within hours, Musk told an analyst on Tesla’s earnings call to expect sales for just the Model 3 to reach as many as 500,000 units in 2019. Tesla did make substantial progress in mass-manufacturing electric vehicles last year, after overcoming the “production hell” he predicted Tesla would go through starting in the fall of 2017.

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