WASHINGTON >> The U.S. economy revved up this spring after a weak start to the year, fueled by strong consumer spending. But the growth spurt still fell short of the optimistic goals President Donald Trump hopes to achieve through tax cuts and regulatory relief.

Wells Fargo caught again in fakery

NEW YORK >> Scandal-plagued Wells Fargo is back in hot water for signing up customers for products they didn’t need or want. This time it’s auto insurance, and the bank says it might have cost about 20,000 people their cars. The San Francisco-based bank says it enrolled roughly 570,000 auto loan borrowers for what’s known as collateral production insurance on their vehicles when they already had appropriate insurance. It will pay $80 million in refunds.

Tesla sends out first Model 3s

FREMONT, Calif. >> For Tesla, everything is riding on the Model 3. The electric car company’s newest vehicle went out to its first 30 customers Friday evening. Its $35,000 starting price — half the cost of Tesla’s previous models — and 215-mile range could bring hundreds of thousands of customers into the automaker’s fold; or the Model 3 could dash Tesla’s dreams. Among potential pitfalls, customers could lose faith if Tesla doesn’t meet its aggressive production schedule.

Netflix gets $500M credit line from 5 banks

Netflix Inc., which has been spending billions of dollars on TV shows and movies for its online video service, lined up a $500 million revolving credit line through five lenders.

The company has the option to increase the credit line by $250 million, according to a regulatory filing Friday. The company has been borrowing to finance the development of movies and television shows, along with programs it licenses from other producers. The company’s long-term program budget totals $15.7 billion, according to the latest quarterly report.

Netflix has been trading near all-time highs since July 17, when the company reported better-than projected subscriber growth for the second quarter. The shares gained 0.7 percent to $184.04 Friday in New York and are up 49 percent this year.

Banks involved in the credit line are Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co.

— Bloomberg News

ON THE MOVE

The City and County of Honolulu Department of Emergency Management has promoted Hirokazu Toiya to deputy director. He was previously the training and exercise officer at the Department of Emergency Management since 2011. Prior to Emergency Management, Toiya served as a senior public health preparedness planner for the U.S.

Kaiser Permanente Hawaii has named Eric D. Hieger as regional director of organizational learning, effectiveness and leadership development. Hieger previously served at ADP’s global change leadership and change management center of excellence.

Send items to business@staradvertiser.com.