*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.
CEO Christophe Georges of British luxury automaker Bentley Motors said the company's first, fully electric vehicle will be in showrooms by 2025, with plug-in hybrid models arriving in 2023.
These are the headlines you Need 2 Know for Friday, October 18, 2019.
The announcement of what Ford is calling the "largest vehicle charging network in North America" comes almost a year before the company's planned release of its first all-electric vehicle
Speaking at Georgetown University, Zuckerberg said he recognized that the U.S. and nations worldwide are facing concerning social tensions but warned against the impulse to restrict free speech online.
These are the headlines you Need 2 Know for Thursday, October 17, 2019.
Without mentioning President Donald Trump — by far the most high-profile and contentious leader on Twitter — the company added that tweets with a "clear public interest" would not be removed.
These are the headlines you Need to know for Wednesday, October 16, 2019.
According to insurance carrier Hiscox, cyberattacks are costing small businesses $200,000 on average and putting 60% out of business within six months of being victimized.
Today's Myth: Online business privacy is dead. Brian Fanzo, founder of iSocialFanz, joins Cheddar to break down this myth and share how you can keep your business safe.
Offshore wind remains a virtually untapped market – one estimated to be worth close to $70 billion, with the promise of supplying such lucrative East Coast markets as New York City, Boston, Baltimore, and Philadelphia.
Elie Seidman, CEO of Tinder, discusses the apocalyptic-themed adventure game, called Swipe Night, which allows users to dictate what happens next in the story. The user's decisions will then match them with other like-minded players.
