Apple Reportedly Acquires AI Start-up Xnor.ai For About $200 Mln

Apple has acquired artificial intelligence software start-up Xnor.ai for about $200 million, Geekwire reported citing people familiar with the matter.

Xnor focuses on the efficient deployment of AI in edge devices like smartphones, cameras, and drones.

Apple could use Xnor’s technology to improve Apple’s deployment of AI stored locally on devices or power edge computing in Apple’s Core ML 3 toolkit for app developers.

Founded in 2016, Xnor is based in Seattle and has about 50 employees, according to LinkedIn.

Xnor was spun out from the Allen Institute for Artificial Intelligence, a research lab created by the late Microsoft co-founder Paul Allen to boost AI research.

Apple snaps up artificial-intelligence startup Xnor.ai for about $200 million: reports

Apple Inc. AAPL, -0.43% has acquired artificial-intelligence startup Xnor.ai for a price near $200 million, according to reports Wednesday. The acquisition, which was first reported by GeekWire, would give the smartphone giant access to low-power AI tools for image recognition in cameras. Apple didn’t respond to MarketWatch’s request for comment. Its stock closed down 0.4% in Wednesday’s session but has been on a recent run. Shares have gained 54% over the past six months, as the Dow Jones Industrial Average DJIA, +0.31% has added 6.3%.

Trade deal 'phase one' signed by US and China

Hong Kong (CNN Business)The first phase of the US-China trade deal is done. Now investors are awaiting more signals about economic growth.

Hong Kong’s Hang Seng Index (HSI) rose 0.5%, and Japan’s Nikkei 225 (N225) was slightly higher on Thursday. But China’s Shanghai Composite (SHCOMP) and South Korea’s Kospi (KOSPI) were both a little lower during choppy trading.
US President Donald Trump on Wednesday signed an initial trade deal with senior Chinese officials at the White House that that included pledges from Beijing to more than double its purchases from American farmers in the first year.

The agreement was signed as China’s economy continues to grapple with a slowdown. The country is expected to disclose its full year growth figures for 2019 on Friday, which will give investors more clues about how the economy is doing.
In Hong Kong, Sa Sa International — the city’s largest cosmetics retailer — said Wednesday that it plans to shut down 20% to 25% of its stores in the next 18 months because of the city’s “unabated difficult operating environment.” Hong Kong has experienced months of pro-democracy protests.

Sa Sa International’s stock was slightly higher on Thursday, but shares plummeted more than 40% last year. Revenue for the most recent quarter was down 27% compared to a year earlier.

European Economics Preview: Germany Industrial Output, Foreign Trade Data Due

Industrial production and foreign trade from Germany and unemployment from euro area are due on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany’s industrial production and foreign trade figures. Economists forecast industrial output to grow 0.8 percent on month, in contrast to a 1.7 percent fall in October.

Germany’s exports are forecast to drop 0.9 percent on month, while imports are expected to rise 0.2 percent in November.

In the meantime, GDP figures from Norway are due.

At 2.30 am ET, the Federal Statistical Office is slated to release Swiss retail sales for November.

At 3.00 am ET, the Czech Statistical Office publishes foreign trade figures for November. The trade surplus is expected to rise to CZK 15.8 billion from CZK 7.2 billion in October.

At 4.00 am ET, Italy’s unemployment and retail sales figures are due. The jobless rate is seen at 9.8 percent in November versus 9.7 percent in October.

At 4.30 am ET, Bank of England Governor Mark Carney speaks at the Future of Inflation Targeting Conference, in London.

At 5.00 am ET, Eurostat releases euro area unemployment data. The jobless rate is forecast to remain unchanged at 7.5 percent in November.

China's Liu: China will push forward capital account opening, yuan internationalisation – state media

BEIJING, Jan 16 (Reuters) – Chinese Vice Premier Liu He said China will steadily push forward capital account opening and yuan internationalisation, under the premise of focusing on preventing risks, state media People’s Daily reported on Thursday.

Liu made the comments at a press briefing after the signing of China’s “Phase 1” trade deal with the United States in Washington. (Reporting by Lusha Zhang and Ryan Woo; Editing by Tom Hogue)

Police investigate gunshots fired in northwest Calgary

The Calgary Police Service is investigating a shooting in the northwest neighbourhood of Beddington Heights.

Two calls came in reporting the gunshots at around 7:52 p.m. Wednesday night, according to police. Officers were on scene at Berkley Way N.W. for part of the evening.

Nobody was hurt in the incident and no shell casings have been recovered yet, according to police.

Investigators say they are now looking for a dark-coloured sedan.

Chinese financial institutions can cope with foreign competition – c.bank

BEIJING, Jan 16 (Reuters) – Chinese financial institutions are completely capable of coping with foreign competition as the sector is freed up, the central bank said on Thursday, after China and the United States signed a initial deal on trade.

The bank will strengthen financial supervision and prevent risks in the process of financial opening, it added in a statement. (Reporting by Beijing Newsroom; Editing by Clarence Fernandez)