*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.
After weeks of regulatory crackdowns and public denouncements, the Chinese government has delivered a crushing blow to bitcoin mining in the country.
The Supreme Court has ruled that a Pennsylvania public school wrongly suspended a cheerleader over a vulgar social media post.
Facebook is launching podcasts and live audio streams in the U.S. to compete with emerging rivals.
Three Chinse astronauts have arrived at China's new space station at the start of a three-month mission, marking a milestone in the country's ambitious space program.
New York City-based artist and creative director Jonathan Rosen debuted his first collection of non-fungible tokens (NFT) on the Nasdaq stock exchange's seven-story-tall, curved digital tower.
Sports remains one of the last things people are willing to watch live, which is making it lucrative for networks and streamers alike — and leagues are asking them to pay up.
The price to rocket into space next month with Jeff Bezos and his brother is a cool $28 million.
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