*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.
Satya Nadella is the CEO of the World's Most Valuable company and was named Fortune's Businessman of the year.
The vehicles' cheerleaders, chief among them Tesla CEO Elon Musk, maintain that self-driving vehicles, while susceptible to accidents, are still safer than human drivers.
These are the headlines you Need 2 Know for Thursday, December 26, 2019.
In 2009, going to Target or Walmart to buy the newest album was still the norm for most people. However, that trend would fade by the end of the decade. Now paying a monthly fee for a subscription music service that gives you access to the latest music is mainstream.
Former Uber CEO Travis Kalanick will resign from the board next week, effectively severing ties with the ride-hailing company he co-founded a decade ago.
By next year you could be banking with Google or Uber, and instead of moving dollars around you could be thinking about new currencies issued by other governments — or Facebook. Here are five themes to watch in 2020.
Cheddar's Michelle Castillo looks ahead to see the trends that will dominate the world of streaming entertainment in the upcoming year.
A look back on the hits and misses from last year's crystal ball on business, tech, politics, and culture.
These are the headlines you Need 2 Know for Monday, December 23, 2019.
A look back on the decade.
