*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.
Mario Schlosser, CEO and co-founder of Oscar Health, spoke to Cheddar about the future of healthcare and insurance in the United States after the company went public.
Jonathan Johnson, CEO of Overstock, discussed how the online home goods retailer succeeded on a combination of pandemic-era buying habits and a red hot housing market.
Google says it won’t develop new ways to follow individual users across the internet after it phases out existing ad tracking technology from Chrome browsers in an upcoming overhaul aimed at tightening up privacy.
Singer Grimes raked in $5.8 million over the weekend selling digital art that can only be accessed through NFTs, an increasingly popular way to trade in onlineartwork.
State Representative Marcus C. Evans, Jr. from Chicago filed amendments to an Illinois bill that would further ban games considered to be too violent from reaching the hands of minors.
German carmaker Volvo on Tuesday announced that it will transition its entire model line-up to fully electric by 2030. T
Susan Lucas Collins, global head of healthcare services at cloud communications company Twilio, talked to Cheddar about providing tools necessary to help smooth out the somewhat chaotic vaccine rollout in the United States.
Wellness guru Deepak Chopra and fitness wearables company Fitbit have teamed up in an exclusive partnership called the Mindful Method.
Spacewalking astronauts have installed support frames at the International Space Station for new solar panels arriving later this year.
Following the Senate Intelligence Committee hearing on the widespread SolarWinds cyberattack, cybersecurity experts are pushing the need for private businesses and federal agencies to cooperate closely to prevent future such breaches.
