*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.
These are the headlines you Need 2 Know for Thursday, Feb. 14, 2019.
These are the headlines you Need 2 Know for Wednesday Feb. 13, 2019.
As technology and social media exacerbate the spread of misinformation, much of the burden is on individuals to keep themselves informed, said Shiv Singh, author of "Savvy: Navigating Fake Companies, Fake Leaders and Fake News in the Post-Trust Era."
What does it mean to trust something -- or someone? A new book looks at trust and how it's eroding because of our current culture. Shiv Singh, co-author of "Savvy," talked to Cheddar about how the problem has developed and how it's impacting our daily lives.
The theme of Bill and Melinda Gates' annual letter for 2019 is "surprise." The letter, released Tuesday, acts as a roadmap for how the Gates Foundation plans to invest in technology that will help make the world a better place in the years to come. And, as Melinda Gates told Cheddar in an interview, it starts with poop.
The star-studded Golden State Warriors is adding another flashy name to its team: Google. The NBA defending champions and the Chase Center just formed a new partnership with Google Cloud to create a high-tech sports and entertainment area. The Warriors' Chief Revenue Officer Brandon Schneider joined Cheddar to discuss the partnership.
Swedish startup Amuse looking to re-invent the record label through machine learning. The company, the world's first mobile record company, just launched a new feature called 'Fast Forward' that uses data to predict and pay artists for their future royalties. "We allow artists around the world to use our digital distribution service," explained Co-Founder and CEO Diego Farias. "They upload the music to us, we deliver it to Apple, Spotify, etc. Whatever earnings they get they keep, so 100 percent of what they make."
Ted Christie recently took over the chief executive role at Spirit Airlines, and said the airline's ultra-low fares are driving "really, really high" demand. Because Spirit crams more seats onto its planes, that means it can also better defray the cost of oil when prices spike, he said.
Video game development platform Unity Technologies is gearing up to go public, according to people familiar with the matter. The company, which was valued at a little more than $3 billion as of its last funding round in June 2018, is aiming to do its initial public offering during the first half of 2020 ー provided that market conditions are favorable, a source told Cheddar.
