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Tesla chief executive, Elon Musk, dangles $41 billion before Jack Dorsey, Bret Taylor, for Twitter takeover

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The world’s richest man and Tesla chief executive, Elon Musk, has offered to buy Twitter for $41.39bn, according to a regulatory filing. Slam Africa earlier reported that the business guru’s offer of $54.20 a share was 38% higher than the closing price of Twitter’s stock on 1 April, the day before his investment of 9.2% in the company was publicly announced. The company’s shares were trading at $45.85 yesterday (Wednesday) and were up to more than $50 a share in pre-market trading. Elon Musk explained that “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” he said in a letter to Twitter chairman Bret Taylor. “Since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form. “Twitter needs to be transformed as a private company.” “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he added. Sky News reported that Elon Musk clarified that “this is not a threat, it’s simply not a good investment without the changes that need to be made”. It comes just days after the billionaire rejected a seat on the social media company’s board. Taking the board seat would have stopped him from a possible takeover of the company. Musk already owns 73,486,938 Twitter shares, which are currently worth £3.3bn. He is a frequent user of Twitter and has more than 80m followers, but this is not the first time he has been critical of the platform’s approach to free speech. Neil Campling, from Mirabaud Equity Research, said: “The Elon ego has landed. “This becomes a hostile takeover offer which is going to cost a serious amount of cash – aka he will have to sell a decent piece of Tesla stock to fund it – or a massive loan against it) and time.”

Musings From Abroad

Rwanda to receive at least $470m from Britain for asylum deal

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As part of the arrangement to have asylum seekers in the UK relocate there, Rwanda will receive at least $470 million from the United Kingdom.

The National Audit Office (NAO), the UK government’s spending watchdog, disclosed on Friday that up to $190,000 would also be paid for each individual sent to the East African nation over five years.

The NAO report was released in response to MPs’ demands for increased clarity regarding the scheme’s cost. However, Labour has criticised the figures, labelling them a “national scandal.”.

Paul Kagame, the president of Rwanda, stated in January that the United Kingdom’s attempts to establish an asylum agreement with his nation are proceeding too slowly, following opposition to the proposal that resulted in demonstrations, legal actions, and decisions that put a stop to it. In November, the Supreme Court declared the plan to be “illegal.”

The UK Supreme Court declared in November that Rwanda could not be considered a safe third country, making the government’s plan to send thousands of migrants there illegal.

As a result, the Prime Minister proposed emergency legislation that would supersede both domestic and international human rights laws and halt deportations, and Sunak and Rwanda signed a new treaty. In December, there will be a first vote on the legislation in Parliament.

Britain and Rwanda first signed the deal in April 2022. The UK Supreme Court declared in November that Rwanda could not be considered a safe third country, making the government’s plan to send thousands of migrants there illegal.

The five-year agreement would allow the UK to deport people who enter the nation illegally and allow them to apply for asylum in Rwanda.

As a result, the Prime Minister proposed emergency legislation that would supersede both domestic and international human rights laws and halt deportations, and Sunak and Rwanda signed a new treaty. In December, there will be a first vote on the legislation in Parliament.

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Musings From Abroad

US urges UN Security Council action in Sudan conflict

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The United States has asked the United Nations Security Council to intervene in the nearly year-long conflict in Sudan between the paramilitary Rapid Support Forces (RSF) and the Sudanese army.

The RSF and its allies are accused by the US of committing crimes against humanity and ethnic cleansing, in addition to the war crimes committed by the fighting parties.

According to the UN, about 8 million people have fled their homes, hunger is on the rise, and nearly 25 million people—or half of Sudan’s population—need aid.

“It is clear that this is an urgent matter of peace and security that demands greater attention from the Security Council,” U.S. Ambassador to the U.N. Linda Thomas-Greenfield told Reuters in a statement.

“The council must act urgently to alleviate human suffering, hold perpetrators to account, and bring the conflict in Sudan to an end. Time is running out,” she said, without specifying what action the 15-member council should take.

The council has only released three press releases denouncing and expressing concern about the war since it broke out on April 15, 2023. It was similar to the wording used in a resolution passed in December that closed a political mission of the United Nations at the request of Sudan’s acting foreign minister.

According to a UN sanctions monitoring report seen by Reuters last month, between 10,000 and 15,000 people were killed in one city alone in Sudan’s West Darfur region last year in ethnic violence committed by the RSF and allied Arab militia.

Visiting a refugee camp in Chad close to the border with Sudan’s Darfur in September, Thomas-Greenfield expressed her disappointment, saying, “I am deeply disappointed that the allegations detailed in this report have received such little attention, both inside the U.N. Security Council and outside the United Nations.”

Recently, the Sudanese government banned aid supplies from entering Chad, thereby blocking a vital supply route to the vast region of Darfur, which is under the control of the rival RSF. The action was deemed “unacceptable” by Thomas-Greenfield because it jeopardised a “critical lifeline.”

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