we get the impression from elon musk you does not like that idea or that thought. him to come up with someone pressure on him to come up with someone who is considered to be external and independent enough, while being close enough to the family, well, to the company, also, to be able to accommodate him as chief executive. allow tesla to continue and elon musk to do his thing. the front page of the times. employers must reveal ethnic pay gap of staff. theresa may is drawing up plans for workplace social justice. really interesting. when we had our gender pay gap drama here at the bbc and it has been elsewhere, it has had huge applications for many companies in the uk, i thought about this very issue. it is notjust about gender, there are a lot of issues. ethnicity is one of those issues. ethnicity is one of those issues the governance is looking at now. i guess one of the problems for employers will be to come up with detail that is valid and viable. 0ther detail that is valid and viable. other than your gender you are not required to disclose your ethnicity when y

elon musk has been in a lot of hot water.tweet that he put out that they will ta ke tweet that he put out that they will take the company private when it turned out that he did not. they need to find a new chairman. that was one of the consequences of that tweet. the authorities saying that they need to remove him as chairman and chief executive. what is your ta ke and chief executive. what is your take on that? i think it is important that he is only stepping back from one of those roles because whether or not you like him he still driving force within the company. and his brains, they are important as well. absolutely. it is important to keep in there. that they do need somebody else in the leading role. somebody who knows the company as well, i guess you cannot nod as well as he does, that someone who does know the company. that the idea is that the chairman has to keep elon musk in check in terms of his maverick style behaviour, of not sticking to the rules. there are questions about who may be offered to ta ke questions

we've seen a lot of issues with elon musk winding up short-sellers and having his run-in with the secthis was a good day for musk and tesla. emily: i am curious how bullish you are. how much better do you think the tesla story can get? mr. gerber: this is the beginning of what will be a historic run for the company over the next five years. this story can grow exponentially as they now accelerate production plans in china. china is really all in on the ev business and being the only 100% u.s.-owned company in shanghai is a huge opportunity for tesla to make a fortune in one of the best ev markets -- it is the best ev market in the world. we can see the consecutive launch of the model y, the truck, hopefully the roadster soon, continuing to ramp up wewth, and a level of growth have not seen from any tech company recently, at least not any car company. emily: you have other carmakers on tesla's heels, questions if tesla can continue to service these cars. now that they are out there in the wild, can tesla keep it up? mr. stadler: i think it's a great question. they have a very different

the securities and exchange commissions is making elon musk pay a price for his tweet.s funding secured musk agreed to step down as chair of the company he founded. the settlement mandates separate 20 million-dollar fines for tesla and musk. the money, going towards harmed shareholders. the chair praised the agreement, saying the matter has been followed by investors. when companies and corporate insiders make statements, they must ask -- act responsibly. what happens now for tesla? and what about musk, who remains ceo? studio, you in the have been busy this weekend covering tesla. what happened over the weekend that triggered this? >> we don't know exactly but the stock tanked 14% friday and that probably had influence on musk's thinking. he took the deal and this was a big weekend for deliveries. the narrative is back on, how did the quarter go? what the ftc wanted in the original suit was more extreme than this result. did musk and tesla get off easy? >> the end result for musk and was very, tesla positive. the concern was if he was no longer ceo, the company could suffer, it could h

ramy: basically, elon musk has been on this war of words, this very public war with short-sellers.the bloomberg terminal, and i want to show you this chart that shows you the short interest for tesla over the past several years. right now, it is hanging out at just over 26%. this has not been falling, and has been rising through the second quarter as investors and analysts have been saying we are not sure if elon musk will make that 5000 vehicle for week mark. but now, it is interesting because as elon musk has been tweeting after hours, he continues to pull the stock down. that empowers the bulls. i want to read you a couple interesting tidbits. tweet,he funding secured they gained $1.2 billion in the two weeks following that. how could we forget that elon musk smoking marijuana in that day because their shares fell, and investors reportedly gained a little more than half a billion dollars. because of all his tweets, we see tesla continuing to fall. meme, wew that it is a cannot ever forget it. waiting for the next installment in this drama. we are getting an alert across the bloo

emily: elon musk certainly deserves credit for all of that.ook at some of the other things that happened this quarter, one of which was promising he would take tesla private and have the funding secured to do so, which was, in fact, not true. tesla and musk had to pay $20 million because of that. he has smoked weed in a video podcast. he has cut off analysts and been outright disrespectful on earnings calls. as much as you like elon musk, what would you like to be -- to see less of? your criticism is fair, but when you look at the ceo's like les moonves being employeesr attacking and employees and that type of stuff, this is benign stuff compared to what you see in ceo offices around corporations in america. let's keep in mind smoking pot versus sexual harassment, for example. i don't personally think elon is normal or should try to act normal when he is not. i think the tweet was a mistake and a costly mistake, but far from the worst thing a human could do. it is a hypersensitive environment around tesla. a lot of elon fans like he is a real

attention. >> we know that elon musk hasn't exactly been contrite in recent days, but when it comes to tesla 's prospects, is basically

bulls one thing, bears another and a company with an enormous amount of risk around it i applaud elon muskd it in his being for going down a road he had to do. >> karen >> yeah. i think that if you're in the stock and believe elon, you have to have elon to be in the stock. i think this is more than a bit of a net positive. as tim said elon was either being disciplined in doing what he had to do or else you saw somebody else telling elon, this is what you have to do and you're going to do it. i don't care whether you like it either of those -- >> are good scenarios. >> you think they're in a better place than they were before the announcement >> before friday. >> before the s.e.c. came in and announced their charges and had a settlement so where we were two weeks ago wherever we were. >> that was thursday or wednesday. >> thursday. >> i think that he turned down this original settlement is astounding to me i mean, that was ridiculous. the easiest case the s.e.c. that i think i've ever seen so trade down just to here i think this is a little bit better he got it together. >> then why doesn't

so is this elon musk just being elon musk?et's bring in "wall street journal" tech and auto reporter tim higgins. tim, we have spent a lot of time lately talking about elon musk. is this what we have come to expect from musk? eccentric and erratic? >> reporter: i think his tweets surprised even people close to him. look at investors' reaction today, the shares just plummeted yet again as it's been a roller coaster for the last couple of weeks. if you are following tesla stock or you're following testla, you know the question is, is -- tesla, you know, the question is, is anyone going to take the twitter away from elon musk? >> that is part of the sec deal i mentioned. the settlement is not a done deal as we have been reporting. it would see musk relinquish his role as chairman for three years and have his tweets monitored. it's still to be approved by a court. do you think that yesterday's tweet mocking the sec could jeopardize this deal? >> reporter: i talked to a lot of legal experts in the last day or so, and, you know, the

those: and some of problems are not just the many antics that surround elon musk, and ongoing issuesround that but losing key personnel and board changes. when he to be done to reassure that this is operationally running on four wheels? >> you would like to see the brain drain stop at some point. but there is some kind of consistency, or steady-state leadership at the top supporting elon musk in that leadership team. but we continue to see executives leave. and also, coming back to the financials, the liquidity and sustained profitability is key. we going to see a third quarter where the model three probably sold at an average price of 55 to 50,000. they need to make a profit at that level. they have announced a mid range rearwheel drive that will sell at 46,000. they will start selling those lower margin vehicles. they frontloaded higher-margin vehicles in the front more -- the from quarter. it will start delivering lower margin vehicles, and they need to show that they can build at volume profitably, and they have to clean up these service center issues and delivery issues. the log

elon musk insists tesla has no need to raise new capital.stretton, motoring editor at confused.com. it's nice to see you again. he has delivered this time, quarterly profits, shares went up. the question is, can they keep it up? firstly, it's great that they've managed to sort out production issues and get cars rolling off the production line in a timely profession and delivering but will they be able to maintain it? that's what the profitability depends on. the hinge factorfor what the profitability depends on. the hinge factor for success on the company. there is a lot to be seen. they are starting to encounter some problems of a volume manufacturer. before, they had been small. and one of the problems of a volume manufacturer is problems with recalls. you cannot keep a close eye on the production process in the way that elon musk has says he's been able to or tesla say. he is involving the company? recall is a serious issue. many people we have spoken to say that owning an electric car, people are put off by the cost but also reliability,

can elon musk keep delivering? that is next.nd if you like bloomberg news, check us out on the radio, listen to us on the bloomberg app, bloomberg.com, and sirius xm. this is bloomberg. ♪ ♪ emily: tesla shares soared. this after reporting third-quarter results on wednesday. tesla usually gives two weeks notice when earnings will drop, but this time the company gave barely two days. as elon musk hinted, tesla has made money. the company's net income was $312 million. analysts expected a lot. and get this, positive cash flow of $881 million. tesla made an average of 4300 model 3's a week, with 455,000 people expressing interest. if elon musk can keep selling that production, big revenue and real profits. we break it all down. >> the big thing is obviously they are profitable. huge, the first time they have been profitable since the third quarter of 2016. so it is their third profitable quarter ever in their history, but demand is still really strong. that is the surprise. the bear thesis is they pulled 2003,l of the stops in and t

the settlement calls for a $20 million fine from both tesla and elon musk. , musk will step down as chairman for three years but he remains ceo. two new independent directors will be brought on to the tesla board and oversight will be required for all written communications for musk, including tweets. first, is this a good move for tesla? everyone can say, this is a mass v fine. it's not a massive fine. >> it's a minuscule fine. >> elon musk is worth billions and billions of dollars. >> tesla's worth $50 billion, $60 billion. elon musk $50 billion, $60 billion. the fine doubled, by the way. he turned down the opportunity to pay a $10 billion so the s.e.c. sued him and he settled for $20 million. it's pocket change to him. >> tesla is worth what did you say? >> 60 billion-ish. >> $60 billion. and elon musk is saying to employees, get excited, guys, we m may be about to turn a profit. so to the average person out there can you speak to the perverseness of that. they don't make money. >> he hasn't been able to build cars. this is the problem. he has made almost

why elon musk? >> he is t funniest and the weirdest and the most postpone ima -- the most pub a lot of them hide in their billion dollar lairs. th is out e, he is tweeting and doing stuff. i figure, you know, if you are n the public sphere, you will get mocked abut. >> in your book, you include a number of what you call inirational quotes fro elon musk, and one of them is, the key to success is to a yourself, what is the most ludicro ludicrous, most futile thing i can do and make it happen. you don't like any of his ideas? >> oh, no i think his ideas are cool. on some level, you have to know that you satyrise, and you have to fin ridiculous. if it's too mean spirited, it's not funny. >> have you heard from him? >> e, but has been poaching writers from the onion to create a secret comedy enterprise or something. i know a lot of the people who he has poached. and i can see, like the project, what is going on? radio silence. >> he is writing a book about you. everyone knowsbout . he is shoveling them t

>>> elon musk sets an opening date for his first underground transportation tunnel next. (music throughout) >> now at 11:00 a civil rights controversy building tonight after a leaked memo from the white house. it could mean big changes to the definition of gender. experts believe the move could jeopardize the rights of more than 1 million transgender americans. >> kpix5's betty yu in san francisco's castro district for us tonight. >> reporter: this draft memo was obtained by the new york times and it stated that this proposal to essentially get rid of the transgender definition could go before the justice department by the end of the year. the trump administration's leaked memo puts the protections and federal recognition of 1.4 million people in america who identify as transgender at risk. in it the department of health and him services says sex person based on immutable biological traits identifiable by or before birth and it says, "the sex listed on a person's birth certificate as originally issued shall constitute definitive proof of a person's sex unless rebutted by

and now, he is aiming his wit at elon musk, in a new book, "welcome to tture, which is mine," musk is known to be the out spoken ceo of tesla and space-x, now scott is with us in the studio, nice to have you. >> nice to be here. >> there's aot of tech giants you could have chosen for the book. why elon musk? >> he is the funniest and thest weirnd the most postpone lia -- the most p image. a lot of them hide in their billion dollar heirs. s out there, he is tweeting and doing stuff. i figure, you know, if you are in the public sphere, you will get mocked a but. >> in your lubook, you i a number of what you call inspirational quotes from elon musk, and one of themis, the key to success is to ask yourself, what is the most ludicro ludicrous, most futile thing i can do and make it happen. you don't like any of his ideas? >> oh, no, i think his ideasre cool. on some level, you have tonow that you satyrise, and youave to find them ridiculous. if it's too mean spirited, it's not funny. >> have you heard from him?no >> but he has been poaching writers from the onion to create a secret comedy

will they end up choosing another elon musk type? >> yes, and that's the risk.ughnt to get outside director who will rein him in, if you do that, it has to be somebody elon will listen to and respect. the chemistry of moons up -- who ends up getting chosen will be important. is, will elontion musk listen to anybody? is there somebody who can do that question mark has he learned from this experience with the sec? in addition to this settlement, we had him in emailing that they could be profitable this quarter and may need to make a hard push and they are close to profitability and is putting that out in an email. he's talking about profits so he did not put it on twitter which is good. he's still putting it out there and a lot of emails leak out of in the background and keeping things under wraps which is what the sec wants. anybody want that jake? ?- that gig i suspect it will take a while to change the behavior you have been talking about to gain trust of others within the company. on would you want to take that responsibility? >> that's a good question. you ha

click, call or visit a store today. >>> elon musk at it again on twitter.la ceo mocking the sec in a tweet saying, quote, just want to say that the shortseller enrichment commission is doing incredible work and the name change is so on point. the post is missing a word i put it in there. musk continued his attacks on shortsellers in additional tweets saying what they do should be illegal. joining us, roger mcnamee, and mike volpe elastic, you hear them cheering behind us every now and then gentlemen, welcome to you both roger, the tweet read like a middle finger, not only to the sec but perhaps to board members who are trying to rein musk and his tweets >> i think the whole thing is so sad. first, the public market has been incredibly good to tesla and elon musk. and the motion that all of these shorts, the shortsellers have been wrong consistently. that's been fantastic for the stock. being mad at them strikes me as completely pointless i think the other thing is he should have been very happy about the settlement there's a court review going on now. i can

the big announcement from billionaire elon musk. >>> it was going to be her special day but what she did instead is tonight's "inspiring america." >>> back now with an ugly con frontation in the air. a man caught on video unleashing a racist rant on an elderly woman as stunned passengers couldn't believe what they were seeing and hearing and the airline facing questions why it allowed the man to stay on the flight. nbc's joe fryer has the story. but first, a warning the language is offensive. >> reporter: the flight had not yet departed when emotions took off. >> if you don't i'll put you there. >> reporter: this unidentified man was directing his comments toward 77-year-old delcey gayle. >> i feel really, really depressed about it. >> reporter: it ryanair from barcelona to london.g to move when a passenger started recording this video, gayle's daughter was in a heated exchange with the man. >> don't you dare talk to her. >> don't you tell me what to do. >> reporter: things escalated between the man and gail. >> don't talk to me in a [ bleep ] foreign language you cow. >> will you st

close plus, truly historic is how elon musk is describing tesla's third quarter. can they do it again and again? softbank was a no-show in the desert, and what this means for the future of ties to saudi arabia. it was a huge week in tech. it started with a surprise third-quarter report from tesla. to kick things off with amazon after the bell. revenue, look at the notspending part we are worried about much. we expected spending pressure across the board. the biggest hike issue is one of the uncertainties. from the business perspective .here two areas for weakness one is whole foods physical stores. and there is one area where may be the physical push is not growing as fast as we expected. the second is international growth. that slowed down materially, not to mention a change in the holiday season for india that pushed out sales, but that becomes a worry as well. if you take those 2 things out of the equation, they did fine. there was slight growth rate decline for the last couple of quarters, but in what we are seeing so far, these are the 2 areas. >> what do you

becauseders love this they still have elon musk basically running the company.ame which is synonymous with the tesla brand, that is still there. you still have a creative force behind the company that creates these cars that people line up by the hundreds of thousands to get. investors, it is good because he may have a chairman coming and that will sit on a shoulder and maybe reign him in from tweeting things out. the devil's in the details and it depends on who they pick. there is a sign for shareholders that governance is going to get a little more professional. shery: at least right now, it seems to be the focus, now that this storm seems to be blowing ny tesla cars can actually be produced. library showing the number of cars produced in each quarter and we could hear as early as today what their result is. what are we expecting? are expecting pretty good sales numbers and production numbers for the model 3. over the weekend, bloomberg broke a story saying that tesla is close to making a profit this quarter and people at dealerships pushing to get the sales o

there has been so much discussion about elon musk.t saying he is a leader and a liability. looking at him as a leader, he is out as tesla's chairman but is that the chief executive, still very hands on. he is tesla. tesla would not be around without elon musk, similar to steve jobs and apple is to be he is the fountain of all knowledge behind the brand and the person who drives it onwards it. yesterday in trouble as a result of certain things he has put out on twitter, market reactions to that, saying he would take the company private, which turned out to bea company private, which turned out to be a joke. and he company private, which turned out to be ajoke. and he has company private, which turned out to be a joke. and he has the funding for it. it turned out to be a joke for it. it turned out to be a joke for his girlfriend ‘s benefit, based around cannabis culture. it is all very, very silly, but obviously has an impact on people who jump very, very silly, but obviously has an impact on people whojump in and say the stock is going

more on elon musk later in the show.sts the economy is beginning to see signs of the trade war affecting factory activity. it seems that the government is making efforts to shore up imports. karishma vaswani is in singapore with more. what are the efforts by the government? you know, this is all taking place against the backdrop of the us and china trade war which we have talked about a great deal on the channel. two leading indicators of chinese factory data, factory activity, i should say, how much factories produce in the country, mainly for export, which has been a big pillar of chinese economic activity over the last four decades, those figures show that factory activity actually slowed slightly in the month of september. this is leading analysts to say that this is a result of the us and china trade war pressures and this could be raising the pressure on policymakers in beijing to try to counter the impact of the american tariffs on chinese goods. perhaps that is why we saw the announcement from the ministry of fin

these is easy if it weren't for elon musk and nobody has made money long term betting against elon musk you're right the big enchilada going forward is they have to raise a lot of money and a strong market and low interest rates have enabled them. they were able to come out with yields in the fives. those yields should have been in the tens for the bonds they floated, so it's going to get interesting as we especially if markets continue to head south and interest rates go higher. trish: but do they make the convertible and pay us $1 billion and convert in march of next year if their share prices don't hit 3,560 or so? i think they're probably in the midst of a lot of talks right now raising dollars with who knows who at this point. trish: okay, all right >> there's also a serious problem with elon musk himself. he's levered himself significantly, for tesla stock. this stock reportedly gets down around 250 he will have margin calls on his own stock. he's got real problems if he can't keep the stock moving which is one of the reasons he put this on twitter. trish: all right, all right, i'

the net neutrality laws next year. >>> and meantime, tesla is looking for a new chairman now that elon musk give up the position for three years. it is part of a settlement deal with the s.e.c. musk and tesla agreed to pay $40 million to settle a lawsuit alleging musk misled shareholders about a proposed buyout. the case was triggered by a tweet in august. he indicated that ahead financing to take the d -- that he had financing to take it private. and he didn't. under the terms of the settlement musk can remain as ceo. >>> and for the first time in two years pure comedy has topped the box office. >> i have been waiting to get a pint sized little man to fill this out. >> get your chicken from the lord. >> kevin hart and tiffany haddish's "night school" premiered. hart returned to school. and small foot came in second and then the house with a clock in its wall. anne-marie? >> diane king hall, thank you so much. >> thank you. >>> still to come, new help for the hearing impaired. >> this is the largest hyperbaric chamber in the northeast. i'm john schiumo with how it's helping patients with su

but it seems to me that elon musk is going to have a lot of power in this company.pite what he's just been through the settlement with the fec does that surprise you at all that they wield so much power and a good thing for investors? >> a lot of ways settlement is a big thing for him he's ceo largest shareholder and really the -- the excitement for investors right and you know the reason are that stock is -- skyrocketing is the he's not getting kicked out there was a lot of concern friday with a suggestion that he might get ousted. the stock plunged he's in a lot of ways the the premium for tesla. if you look at the fundamentals of the automaker it, you know, they're not making money. they're selling a fraction of what large per automakers are doing. but it's this belief in what elon can do for future of personal transportation that is driving that stock. >> a lot of faith in somebody that because of one tweet got fined 40 million dollars but let's move on to facebook. because facebook, obviously, one of the most best performing sthoox we've seen in the last five y

yield-- stocks tank, and as the -- bills, elon bills musk has a few days left before -- how long will canada last -- >> let's get you started with a quick check of the major averages, we are seeing stocks and bonds falling together again, the 10 year yield has dropped 3.2%, the dow is falling and at the lowest level in almost a month. the s&p 500 is also at a seven-week low, most sectors in arered, luxury good makers saying that china is in fact in forcing strict custom rules, so trade tensions remain high. we are seeing the vix index gaining for the fifth consecutive session, the longest winning streak since january and the highest level since june. amanda: one of the questions you ask on a day like this is if this is a short-term phenomenon. take a look at your terminal behind the volume of the trading we are seeing today. the s&p 500 volume specifically. you can see it is that high levels -- it is at high levels. to the ideaotion that is more than a knee-jerk reaction, we are not seeing huge moves in assets, which you might expect to see is the beneficiary of the selloff of stocks.

elon musk does much of the same. he's innovative, but he is running a business. so, when you look at when he goes into states, like if he's going to decide to put a launch pad in arizona or build tesla in nevada where we are right now, the fact is he's going to shop. he's going to push them coming and he pushes them for tax rebates and everything he can, because that's the bottom line. that innovative, does that sound like a creative type that he is? i don't think it does, but it's interesting to look at someone i hold in high regard and look at the profit motive of how they are running the business and how that translates. he's not just inventing for america's greatness, he's inventing for his business and that's how he's running. >> or loss of profit motives being inoculated in the amazon search? >> yeah, i mean come amazon hq search is interesting to watch the states kind of scramble for it, and also watch some of the states opt out. so, today is on the search, companies are now giving out tax breaks and areas of land, promising to build up their infrastructur

is elon musk who has the vision and potential to bring that together. contrast between tesla and beingl electric will be able to articulate what general electric is going to be that might be different from today. underscoreh of these the value of what leadership does for these publicly traded companies. he can becomek, chairman again at three years. can't you make the argument that any chairman will be a lame duck chairman? matthew: great question. it will depend on who is appointed to that role and what relationship here she develops with elon musk and the rest of the board. along the way, will be revealed his three years of performance for the company paired if they are able to resolve some of the manufacturing challenges and make advances and battery technology they will be doing well. if not, we will see where we are. david: stephen, give us an is on the and it radar screen right now paired. will there be a heightened level of security? should they be expect more oversight from the sec going forward? stephen: ethics eckley right. the sec will be sti

elon musk's behavior has been has it has been. i think the reigning in will have to come from elon himself. because of his larger-than-life profile and the extent to which his personality has defined a tesla, if you believe in his company, you hope elon will see the light. not that the sec or board member is going to do that for him. if we have seen or learned anything over the last few , even it is that elon when tesla has been dinged for various reasons, he is willing to be his own person. i think the chairmanship is important and an important milestone for the company but that alone will not bring much change. emily: talk to us about how you came to your conclusion that ofu is a b and in the face opposition from the bearsy that mentioned early analysts who believed tesla shares will go in the opposite direction? maynard: my big call is that we are taking an angle of looking at the sector from a disruptive perspective and a technology angle. a lot of people will talk about autonomous as being the disruptors. we look at it as the

the big announcement from elon musk. >>> what she did was tonight's inspiring america. of your part b medicare costs. a medicare supplement insurance plan may help cover some of the rest. learn more about aarp medicare supplement plans, insured by unitedhealthcare insurance company, the only plans of their kind endorsed by aarp. with any medicare supplement plan, you can choose any doctor who accepts medicare patients. call today for a free guide. who accepts medicare patients. ito take care of anyct messy situd ions.. ant irritation in its place. and if i can get comfortable keeping this tookus safe and protected... you can get comfortable doing the same with yours. preparation h. get comfortable with it. our mission is to provide complete, balanced nutrition... for strength and energy! whoo-hoo! great-tasting ensure. with nine grams of protein and twenty-six vitamins and minerals. ensure. now up to 30 grams of protein for strength and energy! (christine) think about moree wordthan just your mouth. this surgery can really leave a mark on your shoulder. not to mention what itan do to

james murdoch has been on the board and elon musk's behavior has been as it has been.eporter: i think the reigning in will have to come from you on himself. just because of his larger-than-life profile, the extent to his personality has defined tesla, i think if you believe in the company, what you are hoping is elon will see the light. not that the sec or a board member will do that for him. i think if we have learned anything over the last few , even whent elon tesla has been doing for various reasons, he is still willing to be his own person. i think the chairmanship is important. it is an important milestone for the company, but i don't think that alone will bring change. emily: maynard, talk to us about how you came to your conclusion , and ins is a by -- buy the face of staunch opposition who believeds, tesla shares will go in the opposite direction. >> my big call is we are taking an angle of looking at the sector from a disruptive perspective and technology angle , which i have covered for 20 years. a lot of people talk about electric and autonomous as being th

we're awaiting the reaction from the canadian and mexican peso. >>> elon musk is reaching a deal withgives up his chairman role. musk and the company will pay fines of $20 million a piece shares of facebook the stock took a big hit on friday on the news that a security breach happened again shares are moving lower in premarket although just fractionally >> okay. the zuckerberg initiative is the best funded startup in the world. czi is an ambitious take on philanthropy robert is here with the founder of the flux group. he wrote an exclusive piece on the world's changing goals thank you for being here. >> good morning. >> fast company, now you have your own business. congratulations on that. >> the flux? >> flux. >> yes, with an l. >> flux capacitor group? >> flux is change. >> ff-l-u-x. >> yes. >> no capacitor? >> we hope to help change. >> when you think of their initiative and efforts, relative to the other great philanthropists and the only one of size and scale like this is probably bill gates i think at this point -- >> that's right. >> how do they even measure? is that an unfair

another tweak storm from elon musk.he ceo fired more than a dozen messages lashing out at fcc and short-sellers. and tencent musics $1 billion ipo continues the surge of u.s. listings by chinese companies. competitor and investor, we ask what it means for the streaming music landscape. first to our top story, we take a look at the bombshell businessweek report for how china. the most significant data hack. they managed to install a hardware hack in the data centers of newly 30 companies, but they did not stop there. malicious software was introduced and that code allowed attackers to secretly take over servers. one customer targeted was facebook, which told bloomberg that in 2015, we were made aware ofmalicious manipulation software from industry partners from our threat intelligence industry. while facebook has purchased a limited number of micro hardware , our investigations revealed it has not been used in production and we are in the process of removing them. and washington, we have one of the authors of this invest

that is according to none other than ceo elon musk. morgan stanley says it hopes to speed up earnings and is more likely a positive sign. following this announcement, citroen researchers performed a surprise u-turn, saying he is long on the company. been a vocal long-term shorter of tesla, but now says, like a magic trick, well everybody is focused on elon musk smoking weed, he is quietly smoking the whole automotive industry. we'll hear from him later, but let's turn to bloomberg is this week's max for a full analysis. what is your take on why they decided to push up earnings so early, is this a positive store they want to tell fast? max: the conventional wisdom if you look at what is happening in the stock market and this morgan stanley note is that they pushed it up because they have good news to announce. is support for that statements from elon musk that came at the end of the quarter and general intuition that, why would you want to push up that news? the only caution i will say is it is a little dangerous to put normal business

more trouble for tesla the carmaker stock feeling the heat after elon musk taking to twitter mocking . this just after making that settlement with the s.e.c. musk tweeting in part the short seller enrichment commission that's what he's describing the s.e.c. as now, doing incredible work and the name change is so on point this comes after musk reached that deal with the s.e.c. to settle fraud charges over his prior tweet that settlement is still in front of a judge. we'll see what that judge thinks about these tweets in addition to what investors do evan spiegel telliing snap's employees to aim for profits in 2019 shares of snap are now up 3% this morning >>> also a major recall for nearly 7 million pounds of beef that may be contaminated with salmonella nearly 60 people in 16 states have gotten sick now in the outbreak the product includes ground beef that came in from an arizona company and packaged between july 26th and september 2th. i don't know if i would want to be eating meat that was packaged in july. but that's a separate issue. >> in arizona. >> i had not thought of that yea

. >> elon musk la been in the nha news a lot, and now after settling charges with the s.e.c. 's taking new aim at the agency musk tweeting out the short seller enrichment commission is doing incredible work and the name change is so on point he also called out blackrock for pocketing excessive profits from short lending. the settlement deal hit a snag yesterday as a federal judge ordered the s.e.c. and the founder to justify the agreement as fair and reasonable tesla shares are down 3% today in other tesla news, billionaire mark cuban urged elon musk to strike the deal with the s.e.c you can find out more about that story on our website, cnbc.com back over to you >> thank you very much for that update. >>> to your top three stock stories, costco reporting strong sales growth in the fourth quarter on higher store traffic. same-store sales rose 9.5% online sales slowed near the end of the quarter costco says it found a material weakness in its internal controls but has yet to find misstatement of its financial results. as a result shares are off 2.5% premarket. >>> samsung says

up next, elon musk, he woke up and took the deal. no more chairmanship but will their settlement really impact the direction of the company one way or another? the man who broke the story joins us live from san francisco. wall street journal reporter tim higgins is here now to tell us who he thanks might get the job of being his boss. now elon gets to answer to somebody else instead of himself. that's next on countdown whateve, they went through together. welcome guys. life well planned. see what a raymond james financial advisor can do for you. coming decade. the mineralset to inresources that are needed toe supply this coming demand are plentiful but not necessarily easy to unlock. the smackover formation in southern arkansas may hold one of the most significant lithium resources globally. standard lithium intends to play a key part in the development of this critical mineral resource through our structured approach to discovery, strategic alliances and our industry-leading extraction process expertise. learn more at standard lithi

that's what elon musk is telling employees.department suing california fortrying to reinstate new net neutrality rules. >>> the death toll continues t

maria: have you told elon musk this? >> i am quoting elon musk. he thinks the train is ludicrous.nor brown, with president clinton, i think the train is a powerful symbol, not a car, just get out of the cars. let's not get out of the cars, make the cars electric. you don't want gas cars, get rid of the gas cars. using environmentally friendly electric vans autonomously driven to take you san francisco to la. that is the way to do it. it is not through 1960s japanese bullet train technology. maria: you see a revolution in driving. >> you get in these autonomous vehicles and you can sleep, read. maria: as well as biotech and healthcare. any other revolutions you want to talk about? >> computing, cloud computing, data centers people have been building will wither away and we will have a small number of these huge cloud networks. every other network looks like that. people don't generate their own electricity. people don't have wells for their own water. in a few cases they do but in most cases we use networks to buy electricity, and water, we use the network to buy computing and this

back on the gas after elon musk's drama. shares soared, recovering all of friday's losses. >> let's get a quick check of how mondays session ended here in the u.s. the dow gained for a third consecutive session. the s&p 500 led higher by commodities, also utilities, as well as industrials. it was all about that trade the 11thwe saw after hour agreement between the u.s., canada, and mexico. we saw the nasdaq move -- lose 0.1%. oil gaining ground on just concerns over a slowdown in u.s. drilling. as heidi mentioned, it was also about small-caps. the russell 2000 falling by the most since july, domestically focused stocks taking a it as we see -- a hit as we see better prospects on trade. hery, we could be in for a mixed session in asia as well. what's happening for japanese futures. they could be nudging lower well the nikkei 225 is trading at a 27-year high and the yen is at an 11-month low. plenty of strategist are bullish -- strategists are bullish on japan. abere waiting to see shinzo 's announcement when it comes to his r

another tweet storm from elon musk. he fired off more than one dozen messages lashing out at the sec and short-sellers. could this jeopardize the settlement he struck days ago? ipo planssic's continue to surge. competitor and investor and we will ask what it means for them. first. , to the top story we're looking at the bombshell report about how china pulled off the most significant known supply chain attack ever on u.s. companies. we now know china managed to install a hack in the server centers of nearly 30 companies but they did not stop there. malicious software was introduced and the code allowed attackers to secretly take over communications. one customer targeted was facebook which told bloomberg in madetement that they were aware of malicious manipulation related to supermicro hardware from industry partners through our threatened -- threaded intelligence industry. revealed itigations has not been used in production and they are in the process of removing them. in washington, we have one of the authors of this

have a great weekend. >>. >>> elon musk going after the s.e.c. days after settling fraud charges. eller enrichment commission is doing incredible work and the name change is so on point. musk called out black rock and other financial firms for helping short sellers. these new tweets come after elon musk reached a settlement with the s.e.c. under the terms of the deal he'll step down as tesla chairman, pay a fine and he agreed to have tesla vet his social media posts that could continue material information. we assume the vetting hasn't begun yet. >> well, this wasn't necessarily material but it's still hard to imagine days after a settlement of that type he would do something like that on social media. >> clearly the sock sold off the short term is whether the judge decides if this punishment isn't severe longer term is if everyone thought this is going to put pressure on musk to be more mainstream and sensible but that hope has kind of evaporated. >> it makes it difficult for even the longs who believe in the fundamental story of tesla to stick with this stock purely because of co

over the weekend elon musk sent out an employee email. he didn't tweet this out he didn't let everybody know he sent an employee email saying if we go all out tomorrow we will achieve an epic victory beyond all expectations and, guys, they sent out an 8x. tesla did with that email and all the time i've been covering tesla i can't remember the last time this they put on 8k regarding an maim or a tweet or some kind of communications from elon musk so it looks like the message is getting through, you are going to have to follow the letter of the law a little closer, just can't tweet whatever you want to tweet. >> in the eyes of the s.e.c., phil, what was his greatest sin? >> saying that he had funding secured. you know, at $420 a share and, look, if you believe their complaint, and while he's not going to admit any guilt here, if you believe their complaint, he had nothing lined up. he thought he had some notion that's could get perhaps the saudi investment fund to come in at $420, there was no term sheet. there was nothing signed that's ult

yvonne: do you think they were inspired by the recent turbulence we have seen with tesla, with elon musk on the sec, that they decided it was maybe time to jump ship? ,> there have been reports that within the fund, they are split on tesla as a holding. there was talk initially about a few months ago aboutnio wanting to -- about nio wanting to list when tesla looked in trouble. they like to play them off together, but they are fundamentally very different.

that's what elon musk is telling employees. the justice department suing california fortrying to reinstate new net neutrality rules. >>> the death toll continues to rise in indonesia following a major earthquake >>> gold just did something that it has not done in 30 years. we'll tell you what that is on this monday, october 1st, as "worldwide exchange" begins right now. >>> well, good morning, good afternoon, good evening and welcome to october and the fourth quarter as well i am brian sullivan. it is a very busy monday with a lot of ghusd for your investments. look at this this is not a misprint, folks. dow futures are up 217 points right now. the markets are set to take off and it's because of this the united states and canada creating a united states, mexico, canada agreement unwieldy but futures are moving higher on the news let's get to tracie potts live in washington, d.c. with more deals. >> usmca new deal, new name. it sets up trade parameters. here are the highlights as we know them. we got the text a few minutes ago.