*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.
As the coronavirus sweeps the globe, Youtube is a leading outlet for information regarding the virus. Youtube chief product officer talks prioritizing channels and videos with relevant information as well as weeding out fake news.
Amazon's head of worldwide sustainability talks the company's push to net zero carbon emissions by 2040 and investing in companies that are committed to a low-carbon economy.
Docusign continues to thrive while the pandemic impacts nearly every industry. The company plans to expand its service to document management and preparation.
Cheddar's Need2Know Podcast for Tues., June 23, 2020.
Cheddar's Need2Know Podcast for Mon., June 22, 2020.
Apple is closing 11 stores in Arizona, Florida, North Carolina and South Carolina that it had reopening just a few weeks ago.
Apple is closing 11 stores in Arizona, Florida, North Carolina and South Carolina that it had reopening just a few weeks ago.
Facebook has waded into the content creation and video game streaming space with its new Facebook Gaming app, and users reportedly clocked in 291 million hours in April.
Derrick Johnson, president and CEO of the NAACP, called for actions like an advertising boycott of Facebook for its hands-off approach to allowing racist and racially-charged posts to proliferate.
The Tennessee senator is getting behind an effort to reform Section 230 of the 1996 Communications Decency Act, which protects online services from legal liability for what users publish on their platforms.
