*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.
Sachin Lulla, EY Consulting Advanced Manufacturing and Mobility Leader, joins Cheddar News to discuss real-world use cases and applications for IoT, and how IoT connects to sustainability.
According to the FAA, air travelers have been more out of line than usual in recent years. The FAA reports, the nation's airlines have had to deal with nearly 500 unruly passenger reports in just the first six weeks of 2022. Now, the CEO of Delta Airlines is asking the Department of Justice to introduce a "no-fly" list for passengers who have been convicted of an onboard disruption. However, critics of the proposal say this totally goes against civil liberties. Senior Policy Analyst at the ACLU Speech Privacy and Technology Project, Jay Stanley, joined Cheddar to discuss more.
Russia's invasion of Ukraine went hand in hand with cyberattacks against Ukrainian government websites and financial institutions. Cheddar News speaks with cybersecurity expert Karim Hijazi, CEO of Prevaillon, on why the Russian cyberwarfare is concerning to other nations.
Primit Parikh, Founder and COO of Transphorm, discusses how his company's utilization of gallium nitride semiconductors will prove to be a difference-maker in various sectors ranging from EVs to 5G.
Gino LoPinto, Operating Partner at E11EVEN Partners, discusses what E11EVEN Residences Beyond will have in store for potential buyers, and says his company has seen great success accepting crypto at both the E11EVEN Hotel & Residences and the E11EVEN nightclub so far.
Russia’s invasion of Ukraine sent the stock markets into a frenzy for the end of the week. Managing Director of Equity Research at Wedbush Securities, Dan Ives joined Cheddar News to discuss the shifts he expects for the stock market going forward. "It's going to be volatile. Put on the seat belts. I think we'll look back six, nine months. This was an opportunity, not the time to sell, especially some of the high quality names within tech — Microsoft, Apple leading the charge," he said.
