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Financial Times

Elon Musk to use Tesla to buy out his SolarCity: Elon Musk has taken a step towards rolling up his different corporate interests, using the high-flying stock of electric car company Tesla Motors to make an all-stock offer worth nearly $3bn for solar power company SolarCity. The prospect of Tesla paying a substantial premium for a company in which Mr Musk is already the chairman and the largest shareholder unnerved Wall Street and knocked nearly 13 per cent from Tesla shares in after-market trading. The $4.1bn that was wiped from Tesla’s stock market value overshadowed a $500m jump in SolarCity’s share price on the news. Mr Musk said that shareholders in both companies would vote on the deal, and that he would abstain from voting both his 21 per cent stake in Tesla and his 22 per cent SolarCity interest. “This would only move forward if there is a majority vote of the non-me shareholders in both companies,” he said.

The Guardian

UK PM: Brexiters stoking intolerance with immigration obsession: David Cameron has accused leave campaigners of stoking intolerance and division with extreme warnings on immigration, and said Britain will be seen as a more “narrow, insular and inward-looking” country if it votes to leave the EU. In an interview with the Guardian two days before the referendum, the prime minister said all sides of the leave campaign had “become very narrowly focused” on immigration and that the decision could carry consequences. “I’ve always believed that we have to be able to discuss and to debate immigration. But I’ve always believed that this is an issue that needs careful handling,” he said, speaking in his Downing Street office on Tuesday before embarking on a final 24 hours of campaigning.

New York Times

How to React When Aspiring Terrorist Hasn’t Broken a Law: The first time Larossi Abballa appeared on the radar of French terrorism investigators, the only act of violence they could pin on him was killing bunnies. He had joined a small group of men, all bent on waging jihad, on a trip to a snowy forest in northern France five years ago, when he was 19. There, they videotaped themselves slaughtering the rabbits, bought so the men could grow used to the feel of killing. When he and seven others were later arrested, the authorities found that several of the men had saved the video of the slaughter on their cellphones, alongside footage of soldiers being beheaded, according to French court records. Mr. Abballa was eventually convicted on a terrorism charge and spent more than two years in prison. In hindsight, it is not hard to see how that first act of brutality foreshadowed what happened last week: Armed with a knife, Mr. Abballa attacked a couple in northern France in the name of the Islamic State and left them to bleed to death.

The Economist

As its Government Falls, Croatia fights Communists and fascists: Croatia has been an economic and political basket-case for years, but the events of the past few weeks demonstrated that things could still get worse. On June 16th the government collapsed, a day after the leader of the ruling party resigned over a conflict of interest. The president stood passively by. Then on June 17th hooligans threw flares onto the pitch during a game Croatia had been winning at the Euro 2016 football championships in France. This apparently constituted a greater crisis than the fall of the government, and the president called an emergency cabinet session. Ever since Croatia proclaimed independence from a disintegrating Yugoslavia in 1991, its politics have been dominated by the Social Democrats on the left and the Croatian Democratic Union (HDZ) on the right. Social scientists observe that for many Croats, voting has less to do with left- or right-leaning ideological beliefs than with whose side one’s family was on during the second world war. In Croatia this was also a civil war between Yugoslav communists and supporters of the Nazi-backed Ustasha regime.


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