Business News at a Glance

White House Outlines Hundreds of Chinese Products Subject to Tariffs

The Trump administration said Tuesday that it will place a 25 percent tariff on electronic touch screens, iron and steel plates, medical devices, aircraft parts, batteries and other Chinese products, outlining more than 1,000 imported goods that will soon face tariffs as part of a sweeping trade measure aimed at penalizing China for its trade practices. The Trump administration said that analysts from multiple government agencies had refined the list to remove goods that were likely to cause disruptions to the U.S. economy or consumers. The United States is levying tariffs on $50 billion worth of Chinese products each year.

Tesla Expands Output, But Falls Short of Goal

Tesla began producing electric cars at its plant in Fremont, California, six years ago, ramping up to about 100,000 vehicles last year. It is now trying to double or triple that number. On Tuesday, Tesla reported it managed to increase production of its Model 3 to almost 10,000 in the first quarter, although it remained short of the company’s already diminished goals. “We expect that the Model 3 production rate will climb rapidly” through the second quarter, the company said. Tesla also encountered a new hitch — a drop in sales of the Model S sedan and Model X SUV.

New York Fed Taps Insider, Setting Aside Calls for More Diversity

The Federal Reserve Bank of New York on Tuesday named John C. Williams as its next president, choosing a longtime insider for one of the Fed’s most influential positions. Williams, the 55-year-old president of the San Francisco Fed, is a respected economist who will bring academic expertise. But unions, liberal groups and Democratic lawmakers had pushed the Fed to diversify its senior leadership beyond Fed veterans and white men. Williams will succeed William C. Dudley, who announced last fall that he planned to step down this summer after nine years in the post. The appointment will take effect in June.

Bank Fires Broker Long Accused of Abuse

Morgan Stanley said Tuesday that it had fired a star financial adviser who has been accused by multiple former wives and girlfriends of physical abuse and stalking. The New York Times reported last week that Morgan Stanley executives for years had known about the allegations against the financial adviser, Douglas E. Greenberg. The Wall Street firm placed Greenberg, who worked in Portland, Oregon, on administrative leave last week. In a statement Tuesday, a Morgan Stanley spokeswoman said the bank needed to “do better” at handling such employee misconduct issues.

Spotify’s First Day on Wall Street Is a $26.5 Billion Success

Spotify is a hit. On its first day of trading on the New York Stock Exchange, the music streaming service finished with a valuation of $26.5 billion. The share price closed at $149.01, giving Spotify a market value similar to that of companies like M&T Bank and General Mills. For the music business, Spotify’s listing on the Big Board symbolized the ascent of streaming as the new dominant format. The stock opened trading at $165.90, meaning that Spotify was valued at $29.5 billion to start the day, before declining gradually through the afternoon.

Lagging Rivals in AI, Apple Adds Top Google Executive to Its Team

Apple has hired Google’s chief of search and artificial intelligence, John Giannandrea, a major coup in its bid to catch up to the artificial intelligence technology of its rivals. Apple said Tuesday that Giannandrea will run Apple’s “machine learning and AI strategy,” and become one of 16 executives who report directly to chief executive Timothy D. Cook. The hire is a victory for Apple, which many Silicon Valley executives and analysts view as lagging its peers in artificial intelligence. Giannandrea, a 53-year-old native of Scotland known to colleagues as J.G., helped lead the push to integrate AI throughout Google’s products.

Facebook Purges More Russian ‘Troll’ Pages

Facebook said Tuesday that it had found and removed more than 270 accounts and pages controlled by Russia’s Internet Research Agency, the so-called troll factory that became notorious for posting fraudulent and divisive material on the platform during the 2016 presidential election. The company said most of the accounts and pages were in Russian and aimed at users in Russia and neighboring or nearby countries, including Ukraine, Azerbaijan and Uzbekistan. Facebook did not claim the new accounts and pages had violated the company’s policies, but it said they had been taken down because of the Internet Research Agency’s past fraud.