*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.
Solar energy has the potential to supply up to 40% of the nation’s electricity within 15 years — a 10-fold increase over current solar output, but one that would require massive changes in U.S. policy and billions of dollars in federal investment to modernize the nation's electric grid, a new federal report says.
Amazon to Open 2 Cashier-less Whole Foods Stores Next Year
Gain-of-Function, Mexico Abortion Stunner & Album Wars
Goodbye Summer, Texas Abortion Law & Remembering Michael K. Williams
Apple is indefinitely delaying its plans to scan iPhones in the U.S. for images of child sexual abuse.
When Only Fans announced that they would be blocking adult content on the platform, creators like Pyra Faye were shocked and disheartened.
When Only Fans announced that they would be blocking adult content on the platform, creators like Pyra Faye were shocked and disheartened. The company has since changed stances, saying it would suspend its initial ban on sexually explicit content. But Pyra Fae says the damage has been done, as she's noticed website traffic decline which has impacted her business.
Cheddar asked its Gen Z and Millennial-aged Facebook and Instagram users about several topics including how they use social media, buying cryptocurrency, and the future job market.
Google is once again postponing a return to the office for most workers until mid-January.
Amazon is teaming with payments company Affirm to offer online shoppers a buy-now-pay-later option that does not involve credit cards.
