*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.
CEO Rob Wiesenthal said the company chose now to go public because technological innovations in ground mobility will bleed over into the air transport space.
Dozens of states filed an anti-trust lawsuit against Google on Thursday, alleging that the search giant has an illegal monopoly over the online search market that hurts consumers and advertisers.
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Robinhood Financial is agreeing to pay $65 million to settle government charges that it failed to disclose the full details of its dealing with high-speed traders and didn’t get the best prices for customers trading on its app.
Peter Szulczewski, Wish CEO and founder, talked to Cheddar about the e-commerce platform's public debut.
The price of bitcoin has risen above $20,000 for the first time, as the speculative digital currency topped its previous peak reached shortly after it became tradable on Wall Street three years ago this month.
Amazon-owned Zoox has unveiled its first self-driving robotaxi that can seat up to four passengers, has no steering wheel, can run for 16 hours on a single charge, and can travel at up to 75 miles per hour.
It was an extraordinary year for the video game industry which culminated in, of course, the big launches of the anticipated next-generation consoles, the PlayStation 5 and the Xbox Series X/S.
The Mac Bundle Ft. Parallels Pro & Luminar 4 will change the way you use your Mac, and is available at this super low price for a limited time.
Amazon-owned Zoox Inc. unveiled its four-person “robo-taxi,” a compact, multidirectional vehicle it says was designed for dense, urban environments.
