Cheddar Evening Business Update 8/7: GM recalls 800K cars over power-steering issues

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General Motors is recalling nearly 800,000 pickup trucks because some vehicles can suddenly lose power-steering, potentially causing drivers to lose control of their vehicles. Affected models include the Chevy Silverado 1500 and GMC Sierra 1500, model year 2014. 

IPhone maker Foxconn says it is going to build multibillion-dollar facility for research and development in Michigan. Late last month, Foxconn announced a $10 billion plant in Wisconsin, its first major investment in the United States.

SpaceX founder and Tesla CEO Elon Musk posted an animated video simulation showing the Falcon Heavy rocket liftoff and its boosters and center core returning safely back to Earth intact. The Falcon Heavy's first test flight is slated for November.

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  • Judge blocks 176-million ton coal mine expansion in Montana

    Judge blocks 176-million ton coal mine expansion in Montana

    Tuesday, August 15 2017 7:18 PM EDT2017-08-15 23:18:01 GMT
    Wednesday, August 16 2017 1:09 PM EDT2017-08-16 17:09:06 GMT
    A judge has blocked a proposed 176-million ton expansion of an underground coal mine in central Montana because federal officials did not consider the climate change impacts of burning the fuel.
    A judge has blocked a proposed 176-million ton expansion of an underground coal mine in central Montana because federal officials did not consider the climate change impacts of burning the fuel.
  • Retailers, tech, health care companies lead US stocks higher

    Retailers, tech, health care companies lead US stocks higher

    Wednesday, August 16 2017 10:18 AM EDT2017-08-16 14:18:27 GMT
    Wednesday, August 16 2017 1:09 PM EDT2017-08-16 17:09:03 GMT
    US stocks are rising as retailers including Urban Outfitters recover from their stumble a day ago.
    US stocks are rising as retailers including Urban Outfitters recover from their stumble a day ago.
  • US adds Kashmir militant group to terrorism blacklists

    US adds Kashmir militant group to terrorism blacklists

    Wednesday, August 16 2017 10:48 AM EDT2017-08-16 14:48:29 GMT
    Wednesday, August 16 2017 1:09 PM EDT2017-08-16 17:09:01 GMT
    The Trump administration has added a Kashmiri militant group fighting to end Indian rule in the disputed Himalayan region to several terrorism blacklists, blocking any assets it may have in U.S. jurisdictions.
    The Trump administration has added a Kashmiri militant group fighting to end Indian rule in the disputed Himalayan region to several terrorism blacklists, blocking any assets it may have in U.S. jurisdictions.
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