Week in Brief

All the news you need to know, in under 2 minutes.

Ludo Lugnani

21 Apr 2024

🚗 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.

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