*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.
Bala Ganesh, VP of UPS Advanced Technology Group, told Cheddar Thursday that the shipping and pharmacy companies worked closely with the Federal Aviation Administration to get the drone deliveries up and running.
NASA Administrator Jim Bridenstine announced Thursday the three companies that will develop, build and fly lunar landers, with the goal of returning astronauts to the moon in 2024 and ultimately on to Mars.
The Motion Picture Academy bends the rules for streaming movies this year to qualify for Oscars amid the coronavirus, but large theater changes push back against studios that want to release their films online breaking theater exclusivity even after the pandemic ends.
The spotlight is still on Quibi, which just launched on April 6 in the middle of the pandemic. Its Daily Essentials provides bite-sized chunks of news and lifestyle topics.
Sarah Cooper, the performer behind the viral video, talked to Cheddar Wednesday about why she chose to riff on the POTUS.
Some Amazon workers, members of a non-profit group focused on worker's rights called United For Respect, contend the $1.15 trillion company isn't doing enough to protect them from the coronavirus.
Damon Wayans Jr. and his business partner Kris Jones pivoted their Special Guest app, developed to book live entertainment, to
Neal Shapiro, president of the New York metro area public broadcasting station WNET, told Cheddar Monday that PBS stations are offering kids the tools to stay on track with their schooling via educational television.
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.
Tom Doll, president and CEO of Subaru of America, discussed
