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.

  • BusinessMore>>

  • MGM banks on never-used anti-terrorism law in suing victims

    MGM banks on never-used anti-terrorism law in suing victims

    Friday, July 20 2018 4:52 PM EDT2018-07-20 20:52:38 GMT
    Friday, July 20 2018 8:07 PM EDT2018-07-21 00:07:31 GMT
    (AP Photo/Ronda Churchill, File). FILE - In this Oct. 2, 2017 file photo, an American flag waves near a police barricade on the Las Vegas Strip with the MGM Grand hotel and casino in the background after a mass shooting in Las Vegas. The unprecedented ...(AP Photo/Ronda Churchill, File). FILE - In this Oct. 2, 2017 file photo, an American flag waves near a police barricade on the Las Vegas Strip with the MGM Grand hotel and casino in the background after a mass shooting in Las Vegas. The unprecedented ...
    The unprecedented move from MGM Resorts International to sue hundreds of victims of last year's mass shooting in Las Vegas relies on an obscure U.S. law never tested in court.
    The unprecedented move from MGM Resorts International to sue hundreds of victims of last year's mass shooting in Las Vegas relies on an obscure U.S. law never tested in court.
  • Colorado VA hospital plagued by delays, high costs to open

    Colorado VA hospital plagued by delays, high costs to open

    Friday, July 20 2018 3:05 PM EDT2018-07-20 19:05:07 GMT
    Friday, July 20 2018 8:06 PM EDT2018-07-21 00:06:31 GMT
    (AP Photo/David Zalubowski, File). FILE - In this June 8, 2017, file photo, the campus of the Veterans Administration hospital is under construction in Aurora, Colo. The center is set to open Saturday, July 21, 2018, years behind schedule and more than...(AP Photo/David Zalubowski, File). FILE - In this June 8, 2017, file photo, the campus of the Veterans Administration hospital is under construction in Aurora, Colo. The center is set to open Saturday, July 21, 2018, years behind schedule and more than...
    It's more than $1 billion over budget and five years behind schedule, but an elaborate new veterans hospital is finally opening in suburban Denver with the promise of state-of-the-art medical care.
    It's more than $1 billion over budget and five years behind schedule, but an elaborate new veterans hospital is finally opening in suburban Denver with the promise of state-of-the-art medical care.
  • Congress abandons bid to reverse Trump deal with ZTE

    Congress abandons bid to reverse Trump deal with ZTE

    Friday, July 20 2018 5:14 PM EDT2018-07-20 21:14:35 GMT
    Friday, July 20 2018 8:02 PM EDT2018-07-21 00:02:51 GMT
    Congress is abandoning an effort to clamp down on the Chinese telecom giant ZTE in a defense bill.
    Congress is abandoning an effort to clamp down on the Chinese telecom giant ZTE in a defense bill.
sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."