*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.
Altice USA, Cheddar's parent company, has made an offer to purchase the rest of Cogeco, which owns Atlantic Broadband. Altice USA will sell the Canadian assets to Rogers Communications.
Samsung’s second attempt at a foldable smartphone will come with a $2,000 price tag and a few elite perks aimed at affluent consumers still able to afford the finer things in life during tough times.
Facebook said Tuesday that it removed a small network of accounts and pages linked to Russia's Internet Research Agency, the “troll factory" that has used social media accounts to sow political discord in the U.S. since the 2016 presidential election.
West Virginia University has developed technology that can predict coronavirus outbreaks with 90 percent accuracy. Dr. Ali Rezai, executive chair of WVU's Rockefeller Neuroscience Institute, joined Cheddar to discuss the technology and protocols the university will implement to mitigate the spread of COVID-19.
Getting an Amazon package delivered from the sky is closer to becoming a reality..
China on Friday introduced export restrictions on artificial intelligence technology, including the type that TikTok uses to choose which videos to spool up to its users.
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.
Abbott has announced a new FDA approved rapid COVID-19 test. Dr. John Hackett, divisional vice president of applied research and technology for Abbott's diagnostics business, joined Cheddar to discuss how the test works and its accuracy.
Unity Technologies is set to go public as it becomes one of the most successful game developing platforms with over two billion active users. Cheddar's Michelle Castillo reports.
Walmart said Thursday it may join Microsoft to buy the U.S. business of TikTok, the popular Chinese-owned video app that has come under fire from the Trump administration.
