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

Posted: Updated:
NEW YORK -

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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