The world this week--Business As it adjusts to slower demand for its electric vehicles, Tesla is reportedly set to shed 10% of its global workforce, or around 14,000 jobs.

Adding to the woes of Elon Musk's firm, two senior executives said they were leaving.

Tesla's deliveries fell in the first quarter of this year.

As other carmakers, especially in China, step up their EV ambitions, Tesla is facing intense competition in markets that it used to have to itself a few years ago.

Its share price is down by 37% this year.

The company wants shareholders to reaffirm Mr Musk's pay at its annual general meeting in June, after a court in Delaware struck it down in January.

The latest estimates from the IMF suggest that global GDP is on track to grow by 3.2% this year.

The fund said the world economy "remains remarkably resilient" and that there would be "less economic scarring" than it had thought from the pandemic.

The biggest upgrades to its forecasts for the largest economies it tracks were for America, where the IMF now thinks gdp will expand by 2.7%, and Russia, projected to grow by 3.2%.

China's economy grew by a better-than-expected 5.3% in the first quarter of 2024, year on year, helped by a 6.1% rise in industrial production.