*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.
Under pressures from a slowing demand and the U.S.-China trade war, GoPro is doubling down on its core audience and engaging its existing customer base with contests and rewards.
If you thought artificial intelligence took major strides in 2018, buckle up; 2019 may well be an even bigger year for the industry. What are insiders watching ー and what will make the biggest entrance in 2019? Cheddar's Crystal Ball has generated a prediction: Open source A.I., which allows information to be shared freely across many platforms.
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. Cheddar's Biggest Loser Award Goes to Mark Zuckerberg and Sheryl Sandberg.
Panera Bread is on a mission to educate the world about clean, affordable eating ー and in the process, the company is receiving an education itself, CEO Blaine Hurst told Cheddar on Friday. "We are in the relentless pursuit of clean eating, we will not give up until we actually make a true difference," Hurst said. "When people join us in the journey, it actually helps us all because it actually does make the food even more affordable."
These are the headlines you Need 2 Know for Friday, Dec. 14, 2018.
After a year of both digital drama and innovation, Cheddar is looking ahead to the top five gadgets to watch next year. CNET's Bridget Carey and Cheddar's Hope King gazed into Cheddar's Crystal Ball, and picked the top five gadget trends most likely to make an entrance in 2019.
The arrest of Huawei CFO Meng Wanzhou was an "enforcement action, not a trade-related action," according to Commerce Secretary Wilbur Ross. Ross told Cheddar's Megan Pratz that the arrest of Meng in Vancouver was a response to her flouting of sanctions ー and not a retaliatory strike or warning shot against a major Chinese telecom corporation.
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? Check Cheddar.com for all the Cheddar Awards and more year-end coverage.
Facebook’s blockchain group, led by David Marcus, has ambitious plans to potentially disrupt the entire payments industry with its own cryptocurrency, but the company is also running into recruiting challenges amid its many public scandals.
