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Tesla makes an offer to buy SolarCity, as Elon Musk consolidates his clean energy empire | Recode Daily: June 22, 2016

SolarCity shareholders love it. Tesla's? Not so much.

Tesla CEO and SolarCity Chairman Elon Musk
Tesla CEO and SolarCity Chairman Elon Musk
Asa Mathat

.Tesla, the electric carmaker led by Elon Musk, is making an offer to buy SolarCity, the solar power company whose board chairman is Elon Musk. It's a way of consolidating Musk's clean energy efforts (Tesla's increasingly involved in non-car-related stuff), and it will also boost the value of Musk's stake in SolarCity. But Tesla investors don't like the deal, so Musk's stake there has become less valuable.
[Johana Bhuiyan | Recode]

.SoftBank president Nikesh Arora has left the Japanese tech conglomerate. Arora was supposed to be the successor to CEO Masa Son, who now says he will be staying on for another five to 10 years. Arora, formerly an ex-Google business chief who joined SoftBank in 2014, is one of the highest-paid executives in the world (he made over $200 million in the past two years), something that has rankled SoftBank shareholders.
[Ina Fried | Recode]

.The next generation of iPhones, which will be unveiled this fall, will be the same size as the iPhones 6 and 6 Plus, but Apple reportedly plans to get rid of the headphone jack. More significant changes, like curved screens, are still a few years away.
[Daisuke Wakabayashi and Eva Dou | The Wall Street Journal]

.The FAA's drone rules are out, and they're pretty much what was expected: Big companies (FedEx, Amazon, Google) that want to use larger drones for delivering stuff aren't allowed to do so yet, whereas drones under 55 pounds are kosher, with certain restrictions.
[Ina Fried | Recode]

.If you bought a book from a major publisher sometime between 2010 and 2012, here's some good news and a reason to check your spam folder: Apple may have just given you some credits to buy new books, as part of Apple's $400 million book price-fixing settlement from earlier this year.
[Nathan Olivarez-Giles | The Wall Street Journal]

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