*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.
Amazon has revealed plans for the next phase of its headquarters redevelopment in Virginia.
Jeff Bezos announced he is stepping down as CEO of Amazon.
Robinhood CEO Vlad Tenev called for real-time settlement of trades in a letter posted on the trading app's website on Tuesday.
The Reddit-fueled buying spree of GameStop stocks may be winding down, but regulators and legal experts are still only beginning to understand the implications of what just happened.
Pennsylvania entrepreneur Jared Isaacman aims to use the trip to raise $200 million for St. Jude Children's Research Hospital.
This powerful, award-winning router delivers fast, safe and reliable coverage throughout your home, no matter how many devices are in use.
The erratic trading in shares of underdog companies like GameStop that turned markets combustible last week appears to have migrated to commodities, sending silver prices surging to an eight-year high.
The cryptocurrency known as Dogecoin is rallying
Geraldine Barnuevo, , environmental strategies and sustainability senior manager at GM, spoke to Cheddar about what's in store for the automaker following its big pledge to go carbon neutral by 2040.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
