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# Week in Brief
- URL: https://www.ziplaw.uk/week-in-brief-2/
- Published: 2024-04-21T10:33:44.000Z
- Updated: 2024-04-21T10:34:08.000Z
- Description: All the news you need to know, in under 2 minutes.
- Author: Ludo Lugnani
- Tags: Memo

- 🚗 **Tesla Cuts:** Amid slowing electric vehicle demand, Tesla is set to cut about 10% of its global workforce, approximately 14,000 jobs. The company also saw two top executives depart, deliveries drop, and intense competition from Chinese carmakers.
- 📈 **Global GDP Outlook:** The International Monetary Fund (IMF) projects a 3.2% growth in global GDP this year, noting the world economy's resilience and reduced pandemic impact. Key upgrades were in forecasts for the U.S. and Russia, expecting growths of 2.7% and 3.2%, respectively.
- 🇨🇳 **China's Economic Performance:** China's economy grew 5.3% in the first quarter of 2024, with a notable 6.1% rise in industrial production. However, March saw a struggle in retail sales and a sharp decline in cement output, indicating issues in the property sector.
- 🇬🇧 **UK Inflation Update:** The UK's annual inflation slowed to 3.2% in March, suggesting the Bank of England might delay interest rate cuts until later in the year. Inflation remains higher than in the Eurozone but lower than in the U.S.
- 💻 **Microsoft's Strategic AI Investment:** Microsoft invested $1.5 billion in Abu Dhabi's AI tech firm g42, realigning its focus from China to America, supported by the Biden administration.
- 📈 **CVC Capital's IPO Plans:** CVC Capital Partners, a major European private-equity firm, announced plans to list on the Euronext Amsterdam, revisiting previous IPO considerations disrupted by geopolitical and market instability.