Cheddar Afternoon Business Update 8/7: Foxconn to expand even more

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The iPhone manufacturer Foxconn says it will build another multibillion-dollar facility in the United States. The proposed research and development facility in Michigan follows last month's announcement of a $10 billion plant in Wisconsin, the company's first major investment in the U.S.

General Motors is recalling almost 800,000 pickup trucks over a power steering problem.  Affected models include 2014 Chevy Silverado 1500s and GMC Sierra 1500s.

And Elon Musk is offering a sneak peek at what a successful launch of his Falcon Heavy Rocket may look like. The SpaceX founder posted an animated video showing the spacecraft lift off and its rocket boosters and center core returning safely back to Earth, intact.

The video is just a simulation, and Musk says there are a lot of things that could go wrong with an actual launch. The Falcon Heavy's first test flight is slated for November.

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