*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.
California plans to ban the sale of new gasoline-powered passenger cars and trucks in 15 years.
Federal prosecutors say four former eBay employees have agreed to plead guilty to their roles in sending live spiders and cockroaches in an effort to intimidate a Massachusetts couple who ran an online newsletter critical of the auction site.
Google's head of inclusion, Annie Jean-Baptiste, joined Cheddar to chat about Google's mission to be more inclusive in its products, services, and workplace.
Aly Orady,Tonal CEO, joined Cheddar to discuss the home fitness market. Orady also dove into the technology and high profile athletes that have allowed the company to grow.
Amazon has been growing its delivery infrastructure for years and is now shipping 67 percent of its own packages directly to its customers.
Tesla is working on new battery technology that CEO Elon Musk says will enable the company within the next three years to make sleeker, more affordable cars that can travel dramatically longer distances on a single charge.
Tesla is expected to announce a breakthrough in electric vehicle battery chemistry on Tuesday that could bring down the cost of the vehicles and increase their range and durability.
Facebook has helped 2.5 million people to register to vote. The social platform has rolled out a voting information center that users can go for everything voting related.
The software giant said Monday that it is paying $7.5 billion for ZeniMax Media, the parent company of video game publisher Bethesda Softworks.
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.
