*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.
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.
In an effort to get "tax policy parity" with other renewable resources, the American Wind Energy Association says it will seek the same tax credit pursued by the solar energy sector.
Girls Who Code founder and CEO Reshma Saujani discussed the first all-digital "march" to spread awareness of gender inequality in the tech space.
Wisecrack has over 2.7 million subscribers on YouTube and seven podcasts. Jacob Salamon, co-founder and CEO of Wisecrack, breaks down the importance of community and shares tips to help creators improve their craft.
Apple this week removed a smartphone app called HKmap.live that was used by pro-democracy demonstrators in Hong Kong to track police movements, and Google dropped a smartphone game that lets users role-play as protesters in the city.
These are the headlines you Need 2 Know for October 10, 2019.
Mike Whitlatch, vice president of global energy and procurement at UPS, discusses the parcel service's investment in the new trucks burning cleaner fuel.
Fact or Fiction: Business owners and entrepreneurs need to scale their businesses to accommodate their where customers are now. Brian Fanzo, founder of iSocialFanz, breaks down this myth and explains why and how entrepreneurs can prepare for rapid expansion.
Lumos Helmet CEO Eu-wen Ding discusses the new high-tech helmet that offers front and rear lights, turn signals, and even technology that responds to your basic hand gestures.
These are the headlines you Need 2 Know for Tuesday, October 8th, 2019.
