*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.
Apple is the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion.
Bryan Thoensen, TikTok's head of content partnerships, talks newly established creator fund that pays the platforms biggest influencers.
Ardine Williams, VP of workforce development at Amazon, talks about the expansion amid the coronavirus pandemic and recruiting skilled workers.
Tech startup Airspace has developed technology that utilizes a company's camera system to detect whether or not people are wearing face masks. Co-founder and CEO, Jaz Banga, talks about the company's goal of providing data for partners to create safe environments.
Streaming viewership continues to rise as people stay home. The rise in viewership is also said to be linked to states reversing course on reopening. Cheddar's Michelle Castillo reports.
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.
Lee County, deep in the Appalachian Mountains, is one of many rural school districts around the country where the decision over whether to bring students back into classrooms is particularly fraught.
Rebecca Zamolo, creator of the Youtube series 'Game Master Network,' talks new game based, expansion, in-app purchases, and why the game is free.
Facebook has launched the 'Voting Information Center' as a hub to provide users with accurate information regarding everything voting related. Emily Dalton, director of social impact product at Facebook, talks the company's new initiative and goals of the program.
TikTok is planning to fight back against the Trump administration's ban on the company with a lawsuit. The social media platform is suing for unsubstantiated claims that the app is a security threat. Howard YU discusses ByteDance's --TikTok's parent company -- presence in China and the government's ability to request data.
