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# Mid-Week News Brief
- URL: https://www.ziplaw.uk/untitled-5/
- Published: 2024-04-17T14:39:37.000Z
- Updated: 2024-04-21T10:35:33.000Z
- Description: Catch up on the top news of the week in minutes.
- Author: Ludo Lugnani
- Tags: Memo

- 🇬🇧 **UK's Cooling Inflation:** UK inflation fell to a 2.5-year low of 3.2% in March, spurred by decreasing food prices. Although still above the Bank of England's 2% target, the trend might open doors for potential interest rate cuts.
- 🇦🇺 **Australia's Defence Pivot:** Australia announced its first national defence strategy, emphasizing a shift towards the Asia-Pacific to address China's growing influence. Defence spending is set to rise to 2.4% of GDP, reflecting an increase from the current 2.1%.
- 💨 **Wind Power's Swift Growth:** Last year, wind farms globally added a whopping 117 gigawatts of capacity, marking a 50% boost from 2022\. However, the Global Wind Energy Council notes that this pace must accelerate to meet COP28’s annual target of 320GW by 2030.
- 🌐 **OpenAI's Asian Expansion:** OpenAI expands into Asia with a new Tokyo office, offering Japanese companies early access to a tailored GPT-4 model. This move aims to enhance partnerships with major tech firms like Daikin and Toyota Connected.
- 🌍 **New Sanctions on Iran:** In response to Iran's attack on Israel, the US and EU are lining up fresh sanctions targeting Iran’s missile and drone programs.

![](https://storage.ghost.io/c/65/59/65595b49-0168-486e-a3f3-aeef973160e0/content/images/2024/04/image-12.png)

Credit: FT