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Britain’s Supreme Court ruled on Wednesday that a policy to deport asylum seekers to Rwanda is unlawful, delivering a major blow to the Conservative government, which has long described the plan as central to its pledge to stop small boat arrivals. Justice Robert Reed, one of the five judges who heard the case, said that the court supported an earlier decision by the Court of Appeal declaring the policy unlawful, saying simply, “We agree with their conclusion.”Justice Reed pointed to a risk of “refoulement” if asylum seekers had their claims heard in Rwanda, meaning that genuine refugees could be returned to their countries of origin and face potential violence, in a violation of both domestic and international law. The judge made the caveat that while proper protections may be put in place in the future, “they have not been shown to be in place now.”
Persons: Robert Reed, , , Reed Organizations: Conservative, Appeal Locations: Britain’s, Rwanda
GitLab could be a winner in the evergreen software space, according to Bernstein. The firm initiated coverage of GitLab stock with an outperform rating as well as a $62 per share price target. According to the analyst, GitLab operates in a duopoly with Microsoft-owned GitHub, with both companies sharing roughly 70% and increasing market share of cloud development Gits, or code repositories. "GitLab's opening is to become the "Switzerland" platform for CI/CD development pipelines — a durable and large market position," Weed said. Still, the firm noted market constraints on Gitlab's pricing power and product expansion options, noting competition from GitHub, Australian software firm Atlassian and potentially Datadog.
Persons: Bernstein, Peter Weed, GitLab, Weed, — CNBC's Michael Bloom Organizations: Microsoft Locations: Switzerland, GitHub
Montana bridge collapse sends tank cars into Yellowstone River
  + stars: | 2023-06-24 | by ( ) www.reuters.com   time to read: +1 min
June 24 (Reuters) - A bridge in Montana collapsed into the Yellowstone River early on Saturday, landing multiple rail cars in the water, officials said. Montana Rail Link, the company operating the train, said in a statement that "several hazmat cars" plunged into the river. The rail cars were carrying asphalt and molten sulfur, substances that quickly solidify when they come in contact with cooler temperatures, the company said. Two cars transporting sodium hydro sulfate, an acid salt, did not enter the water and initial air quality assessments indicate the chemical was not released from the cars, Montana Rail Link said. Montana Fish, Wildlife & Parks said the derailment and bridge collapse led to the closure of parts of the Yellowstone and Stillwater Rivers.
Persons: Maria Caspani, Richard Chang Organizations: Montana Rail, Montana Rail Link, Montana Fish, Wildlife, Parks, Thomson Locations: Montana, Billings, Reed Point, Stillwater County, Yellowstone, Stillwater Rivers
Today, we've got stories on an upheaval within BlackRock's communications department, a debate over the merits of the man bun on Wall Street, and why I'm not intimidated by Gen Z anymore. Insider's Rebecca Ungarino and Reed Alexander have a story on private lenders looking to make investments in media and entertainment. Hollywood has long represented an interesting investment opportunity for Wall Street, but lending to the industry is an interesting twist. As Reed pointed out in a follow-up story, Wall Street is keen to apply artificial-intelligence tools to identify projects worth greenlighting. And here's more on why Wall Street is so high on the entertainment industry leveraging AI.
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