*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.
While no one knows how consumers will embrace the multitude of options, executives from WarnerMedia tell Cheddar one thing is certain: all streaming distributors are aiming to upend the linear television business model.
Damien Kieran, Twitter’s Global Data Protection Officer, spoke to Cheddar about how his team is ensuring compliance with data protection laws around the world.
Yamaha Corp. of America President Tom Sumner told Cheddar the company has worked to find ways to combine traditional craftsmanship and technology to create a more "compelling" instrument for musicians
Despite expanding into music festivals and other notable entertainment venues, Satisfi co-founder and CEO Don White says that sports remain the company's number one priority.
Only weeks after halting production of the Max 737 jet, Boeing has discovered another potential hazard — critical wiring that may be too close together and could short circuit.
These are the headlines you Need 2 Know for Monday, January 6, 2020.
Hours after the attack at Baghdad International Airport, the Department of Homeland Security's top cybersecurity official reissued a summer bulletin warning of increased cyberattacks by the Iranian government and its allies.
The majority of the top 10 candidates spent more on television and radio advertising than they did on Facebook ads by the end of November.
These are the headlines you Need 2 Know for Friday, January 3, 2020.
The price of oil surged Friday on concerns that Iran might respond to the killing of its top general by the United States by disrupting global supplies of energy from the Middle East.
