*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.
The European Union is unveiling plans that would require smartphone makers to adopt a single charging method for mobile devices.
Facebook's semi-independent oversight board says it will review the company's "XCheck," or cross check system following an investigation by The Wall Street Journal into the use of an internal system that has exempted high-profile users from some or all of its rules.
Activision Blizzard, one of the world’s most high-profile video game companies, has confirmed a regulatory probe and said it is working to address complaints of workplace discrimination.
The demonstration Wednesday centered on fears Bukele may try for re-election in 2024. Protests also voiced concern about the president's concentration of power and the controversial decision to make the cryptocurrency Bitcoin legal tender.
The U.S., Britain and Australia have announced they’re forming a new security alliance that will help equip Australia with nuclear-powered submarines.
Space Milestone, Booster Debate & Greatest Songs Ever
Amazon said that it is hiring 125,000 positions in warehousing and distribution throughout 18 states, in addition to the 40,000 corporate and tech openings it announced earlier this month.
For the first time in 60 years of human spaceflight, a rocket is poised to blast into orbit with no professional astronauts on board, only four tourists.
Apple unveiled its next iPhone line-up, including a model that offer twice the maximum and other modest upgrades to last year’s editions.
Your palm could soon be your ticket into a concert. Amazon says it is bringing its palm-recognition technology to the Red Rocks Amphitheatre in Denver and it will be available at other venues in the coming months.
