*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.
Leo Simonovich, global head of industrial cyber and digital security for Siemens Gas and Power, spoke with Cheddar about the evolving threat to utilities and other industrial sites.
The combined companies of Outbrain and Taboola will pool their resources to compete against Facebook and Google, says Adam Singolda, the founder and CEO of Taboola, who will run the combined company under the Taboola brand.
*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.*
These are the headlines you Need 2 Know for Friday, October 4, 2019.
Steve Weisz, President and CEO of Marriott Vacations Worldwide Corporation, joins Cheddar to discuss how the company has changed one year after its acquisition of ILG and how recessions fears are affecting the travel industry.
Credit Karma, one of the biggest personal finance content sites, is launching its first banking product: Credit Karma Savings.
These are the headlines you Need 2 Know for Thursday, October 3, 2019.
These are the headlines you Need 2 Know for Wednesday, October 2, 2019.
Fact or fiction: Personal branding is only important for entrepreneurs. Brian Fanzo, founder of iSocialFanz, breaks down this online marketing myth and explains why employees should make up a large portion of your company's footprint.
SpaceX, over the weekend, unveiled its new prototype spaceship: Starship. The ship is set to be the most powerful rocket in the world and is the latest development in the company's decades-long pursuit to facilitate interplanetary travel.
