Afternoon Coffee: Ikea Assembles an Acquisition of TaskRabbit, Toyota Forms Venture for EV Development

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Frustrated, non-handy furniture owners now have a new option for assembly. As recode reports, Swedish home goods retailer Ikea has acquired TaskRabbit. The move should allow Ikea to bolster its digital customer service offerings and better compete with the likes of Amazon.

Toyota’s EV Push

Toyota, Mazda and automotive supplier Denso Corp have set up a venture to develop electric vehicle technology, the Wall Street Journal reports. The new company will be called EV Common Architecture Spirit Co. and give Toyota a 90% stake, with Mazda and Denso splitting the remainder.

Q2 GDP

The U.S. economy expanded at a 3.1% annual rate in the second quarter, Reuters reports, an upward revision from the number reported last month. While the lasting effects of a bruising hurricane season are expected to weigh on GDP in the third quarter, rebuilding efforts could actually boost growth in the fourth quarter and the beginning of 2018.

Mars Supply Chain

And finally, a Mars update: SpaceX Founder Elon Musk revealed details of his grand vision for Mars exploration at the 68th International Astronautical Congress (IAC), according to Popular Mechanics. Included in the presentation were potential uses for what SpaceX is calling the BFR, or “Big Fucking Rocket,” which could take people to the moon, the ISS, Mars or even to a city on the far side of the planet.

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