Baidu Inc. has enlisted more than 50 partners for its Apollo driverless project, signing up big firms in areas from mapping and ride sharing to automaking to aid the Chinese search giant’s foray into artificial-intelligence-powered vehicles. The move opens up part of Baidu’s autonomous car…
Baidu Inc. has enlisted more than 50 partners for its Apollo driverless project, signing up big firms in areas from mapping and ride sharing to automaking to aid the Chinese search giant’s foray into artificial-intelligence-powered vehicles.
The move opens up part of Baidu’s autonomous car software in the same way that Google released its Android operating system for smartphones. By encouraging companies to build products using them, Baidu hopes to fine-tune its systems and overtake research efforts by the likes of Waymo, which is part of Mountain View’s Alphabet, as is Google.
Baidu listed four Chinese carmakers, suppliers Robert Bosch GmbH and Continental AG and technology companies including Microsoft as part of the Apollo alliance. Southeast Asian ride-hailing giant Grab and mapping systems company TomTom are also joining the program.
Widely considered the Google of China, Baidu hopes research into artificial intelligence will create a generation of products to help revive revenue growth. It has a stated goal of releasing a driverless car by 2018 with mass production to begin by 2021, but some analysts believe its technology still lags that of competitors like Waymo.
True Religion Brand Jeans filed for bankruptcy protection Wednesday, the latest retailer upended as Americans increase spending, but largely in places other than clothing stores. The jeans company is seeking Chapter 11 and operations will continue uninterrupted as it restructures.
Clothing stores that operate largely out of malls have been struck particularly hard. Ascena Retail Group — the owner of brands including Ann Taylor, Loft, Lane Bryant, Dress Barn and Justice — has said it plans to close at least 250 stores. This year, Payless ShoeSource filed for bankruptcy protection and the Limited closed all 250 of its remaining stores.
Los Angeles’ True Religion, owned by TowerBrook Capital Partners, said Wednesday that its reorganization will trim its debt by more than $350 million. The company also said it secured up to $60 million in financing from Citizens Bank. True Religion filed expects its request to be approved by the court in three to four months.
The European Union and Japan have agreed “in principle” on a free trade deal that will affect an overwhelming majority of commerce between the two economic giants and will be officially endorsed at a summit of their leaders.
EU Council President Donald Tusk and Japanese Prime Minister Shinzo Abe will meet Thursday and will be able to shake hands on the landmark deal, which took four years of negotiations.
EU Trade Commissioner Cecilia Malmstrom said in a tweet that “We’ ve reached political agreement” and “now recommend to leaders to confirm this” at their short summit.
The timing of the announcement is important, coming just before a summit of world leaders in Hamburg, Germany. President Trump is expected to express his discontent with free trade and his desire to renegotiate some deals.
Both the EU and Japan have stressed that their pact is intended as a rejection of the kind of protectionism Trump advocates.
Chronicle News Services
