Preheat the oven to 350°F.
Cook the pasta according to packet directions. Drain and set aside.
While the pasta is cooking, heat the olive oil in a large skillet or saucepan over a medium-high heat. Cook the onion, stirring frequently, until softened. Add the ground beef and cook, stirring, until browned all over, breaking up any lumps with the back of a wooden spoon.
Add the tomato sauce, diced tomatoes, ketchup, brown sugar, Worcestershire sauce, Dijon mustard and garlic powder. Season to taste, then bring to a simmer.
Add the drained corn kernels and cubed Velveeta cheese to the pan and simmer, stirring occasionally, until the cheese has melted.
Add the cooked pasta to the saucepan and stir to combine. Transfer the mixture to a 9 x 13 inch baking dish. Sprinkle over the shredded cheddar cheese, then bake for 25 minutes.