*By Carlo Versano*
Shares of Tesla jumped more than 15 percent in the pre-market Monday on news that CEO Elon Musk settled a lawsuit with the SEC over Musk's social media use.
Under the terms of the settlement, Musk will step down as chairman of Tesla ($TSLA) for at least three years but can remain in the chief executive role. He and the company must each pay $20 million in fines. Two independent board members will also be appointed.
Federal regulators sued Musk last week, arguing that his infamous Aug. 7 "funding secured" tweet amounted to securities fraud. The lawsuit was filed after Musk reportedly scuttled a last-minute deal with the agency under which he would resign as chairman and pay a fine but not admit to any wrongdoing. Talks restarted soon after, and by Saturday a new settlement was in place.
The settlement takes care of one major headache for investors, who will now look to the car maker's third-quarter production and delivery numbers, which may be reported as early as Monday. Musk [reportedly] (https://www.cnbc.com/2018/09/30/elon-musk-tells-tesla-to-ignore-distractions-hints-at-profitability.html) emailed employees over the weekend, telling them to "ignore all distractions" and that the company was approaching profitability.
Jill and Carlo cover the latest on Omicron, another school shooting in America and more. Plus, bidding farewell to 'transitory' inflation, and the controversy surrounding 'Lovely Bones' author Alice Sebold.
Capitalizing on the NFT hype while riding the rush to all things '90s, tarantino announced earlier this month a planned sale of NFTs based off his hand-written, original script of 'Pulp Fiction.' Days after the announcement, the studio that produced the iconic film, Miramax, filed suit against Tarentino. Kal Raustiala, Professor of comparative and international law at UCA joins Cheddar News.
Sam Burd, president of Dell Technologies Client Solutions Group, joined Cheddar to talk about the firm's Q3 earnings beat and what consumers can expect from the tech company in the future. He noted a return to offices alongside the overall change to how people work as sources for the earnings beat. Burd also discussed how the company has been able to navigate the ongoing global semiconductor chip shortage.
Sarav Arunachalam, air pollution scientist at the University of North Carolina at Chapel Hill, joins Cheddar Climate, where he discusses what he needs to happen when it comes to EV production on a global level to help reduce the effects of climate change.
In recent years, extreme weather events like flooding and wildfires have become more frequent, and more severe - and scientists say global warming is to blame. Climate crises could leave people in need of help, and that's where Global Rescue steps in. The crisis response firm employs former Navy Seals and Army Rangers to rescue travelers from climate-related emergencies. Global Rescue CEO Dan Richards joins Cheddar Climate to discuss.
