Samsung takes on Amazon; Kids flee Disney Channel

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Samsung is developing a smart speaker that will be powered by Bixby, its digital assistant, The Wall Street Journal reports. The timing is still up in the air for the code-named "Vega," in part because the English-language version of Bixby still isn’t ready for prime time. Samsung is joining the “proliferating arms race in tabletop devices” late — Amazon’s Echo captures 70% of the US market, and Alphabet’s Google Home, 24%, with similar devices from Microsoft, Apple, Alibaba, Tencent and Baidu on the way. It’s not the sale of device all these companies are banking on; it’s the data they will collect, the mass-scale training of their artificial intelligence and the opportunity to better understand you, their customer, for themselves and their advertisers. #SamsungSmartSpeaker

The Trump Administration confirmed North Korea's claim that it launched an intercontinental ballistic missile. That means the US is acknowledging that North Korea could be capable of striking it in Alaska and just short of Hawaii, although experts have hesitations it can create nuclear warheads small enough to fit on the missile. The US and South Korea responded with a joint military exercise that fired ballistic missiles in South Korean waters. The UN Security Council also convened for an emergency session on North Korea. But Pyongyang’s provocation leaves the US president with “few and risky” options. #NorthKoreaICBM

It's not just ESPN that's hurting: Disney's biggest brands targeting younger audiences are losing viewership, The Wall Street Journal reports. Both Disney Channel and Freeform (formerly ABC Family) have lost about 4 million subscribers over the past three years thanks to a lack of hits and a growing trend of cord cutting in favor of streaming services. It’s a double problem for Disney, for whom cable TV has historically been the biggest business as well as a platform to launch stars and advertise its other big business — toys and branded products. Now, execs are figuring out how and when — not whether — to move to mobile and online formats… which may give you yet one more reason to forego that massive cable bill. #DisneyCableStruggle

Illinois is inching closer to having a budget. The State Senate overrode Governor Bruce Rauner's veto of a $36 billion budget plan and sent it to the House, which could hold its own override vote as soon as today. Illinois has entered its third fiscal year without a budget agreement after it missed a July 1 deadline, risking a bond rating downgrade to junk status. The debate centers on a $5 billion difference between spending and revenue: the Democratic legislature and Republican governor disagree on the mix of tax increase and spending cuts necessary to bridge that gap. No other state has gone without a budget for so long since the Great Depression. #IllinoisBudgetCrisis

Volvo is phasing out the combustion engine. From 2019 all new models will either be electric or hybrid, with five new purely electric vehicles launched by 2021, the company announced. Volvo is the first major carmaker to program the end of the technology the auto industry grew up on. But it and other competitors are feeling the pinch of emission regulations, the shift in consumer expectations and the threat of Tesla, which starts producing its first mass-market car this week. One thing may slow Volvo down: gas is dirt cheap right now. #VolvoHybridElectric

What's your take? Join the conversations on today's stories: #SamsungSmartSpeaker | #NorthKoreaICBM | #DisneyCableStruggle | #IllinoisBudgetCrisis | #VolvoHybridElectric

And here are stories from earlier in the day: #VWBacktoIran

— Lorraine K. Lee / Share this using #DailyRundown