*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.
The retail giant invested $250 million in interactive video platform Eko last year. Eko creates choose-your-own adventure shows for the modern age.
Critics slammed Amazon.com for selling Christmas ornaments, bottle openers and other trinkets that featured scenes of the Auschwitz concentration camp ー all made by a third party seller called "Fcheng."
Offensive trinkets sold on the Amazon Marketplace may be part of a bigger problem facing retailers: the rise of robots using algorithms to generate an endless variety of cheap products--all to entice even one buyer. Juozas Kaziukėnas, founder of e-commerce analysis company Marketplace Pulse, explains how these sellers work.
The automaker and breakfast purveyor announced a collaboration to create plastic vehicle parts out of coffee bean waste from the roasting process.
Expedia's Chief Executive Mark Okerstrom and Chief Financial Officer Alan Pickerill will resign their posts effective immediately. The year has been notable for how many chief executives have resigned, quit, or been forced out.
The San Francisco-based company, led by SoFi's former CEO Mike Cagney, provides fixed-rate Home Equity Lines of Credit (HELOCs) in an all-digital process that promises borrowers decisions in less than five minutes and funding in less than five days.
Geoffroy Van Raemdonick, CEO of Neiman Marcus, told Cheddar that the luxury retailer is embracing a guided online shopping experience with the help of personal shoppers and machine learning.
The New York State Department of Financial Services has granted the notoriously tough-to-get BitLicense to the digital bank to trade cryptocurrencies.
These are the headlines you Need 2 Know for Tuesday, December 3, 2019
The energy sector is in "a really exciting time," Chairman Neil Chatterjee told Cheddar Monday. His agency, the Federal Energy Regulatory Commission, is charged with overseeing the power grid.
