Cheddar morning business update 10/13: Tesla recalls 11,000 of its SUVsPosted: Updated:
Top morning business and technology headlines for Oct. 13, 2017:
· AT&T says it lost 390,000 traditional video subscribers in the last quarter and gained about 300,000 subscribers to its less-expensive streaming service, DirecTV Now. It's yet another sign that so-called "cord cutters" are putting pressure on traditional media companies.
· A big recall for Tesla. The electric car maker is recalling about 11,000 Model X SUVs - nearly all of the vehicles on the road - because of possible issues with their second-row seats. Tesla says it can fix the problem in about 10 minutes and only 3 percent of the recalled cars will actually have the issue.
· The California wildfires could send the price of legal marijuana higher. The "New York Post" reports the fires have destroyed at least six of the area's legal marijuana farms and could put the farmers out of business. Insurance isn't available for marijuana growers like it is with many other crops because it's not legal on a federal level.