Tesla stock takes off after Musk settles with SEC

NEW YORK — Tesla made its biggest gain in five years Monday after company founder Elon Musk reached a settlement with securities regulators that will allow him to stay on as CEO of the electric car maker. Tesla stock rose 17.3 percent to $310.70 after a 14 percent plunge on Friday. Musk and Tesla will each pay $20 million to resolve the case.

GE ousts CEO Flannery

BOSTON — General Electric ousted its CEO, took a $23 billion charge and said it would fall short of profit forecasts this year. H. Lawrence Culp Jr. will take over immediately as chairman and CEO from John Flannery.

Calif. OKs net neutrality law; U.S. sues

SACRAMENTO, Calif. — California Gov. Jerry Brown has approved the nation’s strongest net neutrality law, prompting an immediate lawsuit by the Trump administration and opening the next phase in the battle over regulating the internet. Advocates of net neutrality hope California’s law, which Brown signed Sunday to stop internet providers from favoring certain content or websites, will push Congress to enact national rules or encourage other states to create their own.

Billionaire Paul Allen’s cancer returns

SEATTLE — Billionaire Seattle Seahawks owner and Microsoft co-founder Paul Allen says cancer he was treated for in 2009 has returned. Allen, 65, said on Twitter on Monday that he recently learned of the non-Hodgkin’s lymphoma and plans to fight it aggressively.