*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.
China is considering banning battle royale games, the legendary Virtus.Pro roster disbands, and the Winter Royale is ruined by the Infinity Blade.Featuring interviews with Ghost Gaming's Kayuun, DC Overwatch Assistant GM Kate Mitchell, StackUp Director of Veteran Services Dave Crouse, and a Capcom Cup preview with Amanda Stevens.
In a conversation with Cheddar, Pulitzer-winning journalist Charles Duhigg discussed his months of reporting on Tesla and Elon Musk as the Model 3 production ramped up.
As Cheddar reflects on 2018, we are profiling the most innovative, flamboyant, and often-controversial entrepreneurs and corporate leaders who delivered the year's most memorable moments in business. Of the CEO Class of 2018, who was crowned Biggest Flirt? Class Clown?
A study released on Monday found a dramatic increase in vaping among teenagers ー after a second study found that the increasingly popular habit comes with not-insignificant health risks. "Vaping appears to be less harmful than smoking, but then again smoking kills half of the people who do it long-term. So, again, it's a low bar to be safer than smoking," Rachel Becker, a reporter with the Verge, told Cheddar on Monday.
STEM education in the U.S. is falling behind and 2.4 million STEM-related jobs are expected to go unfilled this year.
Ray Kerins, SVP, Corporate Affairs at Bayer, and Jackie
Joyner-Kersee, Olympic gold medalist, joined Cheddar to discuss the launch of Bayer's new Amazon Alexa skill integration.
Cargo is essentially an in-car vending machine ー a box containing snacks and personal items for purchase installed on the center console of some Uber and Lyft vehicles. According to CEO Jeff Cripe, since so many riders were dividing their Uber and Lyft fares with Venmo, it made sense to make Venmo the payment option for their in-car purchases. Now, Venmo-happy millennials can purchase Cargo items through the app during their rides.
2019 is set to be a blockbuster year for tech IPOs. In preparation for the new year and all the public debuts it will bring, we're counting down the most likely and buzz-worthy candidates.
In five to seven years, Tesla will be valued as a diversified "technology titan" rather than just as an automaker, Wedbush's Dan Ives told Cheddar on Monday. Wedbush rated Tesla "outperform" and raised its 12-month price target on the company to $440 last week. Tesla shares jumped Thursday following the report.
Colin Kroll, the founder of HQ Trivia and Vine, was found dead in his New York City apartment on Sunday of a suspected drug overdose. He was 34. Kroll's HQ Trivia was called the future of mobile gaming, the future of game shows, even the future of TV. Before his death, there seemed nowhere to go but up.
Federal prosecutors are investigating whether foreigners illegally funneled money to President Trump's inaugural committee to buy influence over American policy. Bomb threats emailed to multiple locations across the country deemed non-credible by the FBI. For the first time ever, the number of streaming shows has surpassed the number of basic cable and broadcast shows. From now until December 31st, users of the dating app Hinge can get a buy-one, get-one free meal at Chipotle to enjoy with their date.
