*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.
Bloomberg Philanthropies has announced that it's supporting states in helping them build and execute contact tracing programs to control the spread of COVID-19.
Twilio, the cloud communications program, is teaming up with ZocDoc, the online medical booking service, to power its new video consultation service.
With grim images of coronavirus frontline workers splashing across screens, the founder of the virtual support group Lyf decided to come up with new ways of helping those struggling during the pandemic.
Cannabis online marketplace Dutchie and digital payments provider Hypur have teamed up to bring contactless payments to some 1,100 dispensaries nationwide.
The Wall Street Journal reports that Uber is considering acquiring Grubhub in a deal that would give the companies control over a majority of the U.S. food delivery business.
Office jobs are never going to be the same. When workers around the world return to their desks, they’ll find many changes spurred by the pandemic.
Tesla CEO Elon Musk confirmed on Twitter Monday that the company has restarted its California factory in violation of local government orders.
Wall Street was split on Monday, as continued gains for technology and health care stocks helped cover up for more prevalent losses elsewhere.
Gibu Thomas, PepsiCo senior vice president and head of e-commerce, told Cheddar Monday that these new platforms are designed to meet customers' needs now.
The social media giant has invested $40 million into small businesses across the country with 50 percent of it earmarked for small businesses owned by people of color, women, and veterans.
