GitLab soars on plan for new AI-powered product Jun 6, 2023 02:57PM

By Chibuike Oguh

NEW YORK (Reuters) - Shares of GitLab Inc jumped more than 35% on Tuesday after the software development platform announced plans to launch a revenue-boosting artificial intelligence (AI)-powered product.

GitLab, widely used by software developers for coding work, will add a "ModelOps" feature to its main "DevSecOps" platform with new capabilities including code writing suggestions. The product is expected to be launched... (continue reading...)

EPA to scrap proposed EV volumes from biofuel blending rule Jun 6, 2023 02:38PM

Reuters reports today, citing three unnamed sources familiar with the matter that the Biden administration is planning to discard a proposal to include the electric vehicle industry into the U.S. biofuel blending program. Additionally, the administration intends to retract tradable credits worth potentially billions of dollars that were associated with this initiative.

It was first reported in early May that the Environmental Protection Agency (EPA) was considering... (continue reading...)

Golf-PGA Tour and LIV announce shock merger to end bitter split Jun 6, 2023 11:23AM

By Frank Pingue

(Reuters) -The world of golf was left stunned on Tuesday as the PGA Tour, DP World Tour and rival Saudi-backed LIV circuit, who have been involved in a bitter fight that has split the sport, announced a shock agreement to merge and form one unified commercial entity.

Additionally, the organizations said in a joint news release they will work together to allow a process for LIV Golf players to reapply for membership on the PGA... (continue reading...)

Fed could continue rate increases this cycle, Clarida says Jun 6, 2023 11:19AM -- The Federal Reserve might have more interest rate increases in its back pocket, according to Pimco's global economic advisor.

Richard Clarida, Pimco managing director and former Fed vice chair, told Bloomberg television on Tuesday that the economic data has been coming in stronger as the Fed prepares to meet next week. "We could get an additional hike or two in this cycle," he told Bloomberg.

"It's a closer call than I would have thought several months... (continue reading...)

Apple's Vision Pro an impressive headset with few likely buyers, analysts say Jun 6, 2023 11:06AM

By Aditya Soni

(Reuters) - Analysts lauded Apple's Vision Pro on Tuesday for its impressive technology, but warned that it will be a few years before the $3,499 augmented reality headset sees widespread adoption.

The device, which investors treated with a lukewarm reception, marked the company's first new product line since the launch of the Apple Watch nearly a decade ago.

Chief Executive Officer Tim Cook said it could... (continue reading...)

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