Walmart

Walmart sues Tesla over solar panel fires

In this image, Elon Musk looks down while standing in front of a microphone. He's wearing a suit with no tie.
Elon Musk on March 2, 2019. Photo: Jim Watson/AFP/Getty Images

Walmart filed a lawsuit against Tesla on Tuesday, alleging that "no fewer than seven Walmart stores" experienced fires due to Tesla's solar panel systems as of November 2018.

Catch up quick: More than 240 Walmart stores have leased or licensed roof space to Tesla for solar panels. The lawsuit says, "Many of the problems stemmed from a rushed, negligent approach" to installation by Tesla. It also accuses energy service company SolarCity, which Tesla acquired in 2016, of using "an ill-considered business model" that installed panels "haphazardly" to "turn a profit."

Q3 GDP expected above 2% after hot retail sales report

Data: Federal Reserve Bank of Atlanta; Chart: Andrew Witherspoon/Axios

The Atlanta Fed raised its GDPNow forecast to 2.2% for the third quarter — higher than many economists are predicting, but well below enough to bring 2019's growth to the 3%-4% President Trump has sought.

Why it matters: The bump came after U.S. retail sales surged above expectations in July and sales at retailers including Amazon and Best Buy posted their biggest increase in 4 months. A strong earnings report from Walmart also helped drive optimism that American consumers are still shopping and perhaps are confident enough to carry the economy through trade war tensions.

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