The bottom line

■ Tesla is laying off more than 10 percent of its global staff following the company’s first year-on-year sales decline since 2020. Before the layoffs, Tesla said, it employed more than 140,000 workers globally, including over 20,000 at its Fremont factory in California. Business Insider

■ Venture capital firm Andreessen Horowitz said this week that it raised $7.2 billion across five different funds. The biggest chunk of new funding is in its later-stage growth fund, which reeled in $3.75 billion. CNBC.com

■ Basketball superstar Caitlin Clark will be paid about $76,500 in salary during her first year as a WNBA player. That pales in comparison with the roughly $3 million she’ll receive over the next year in advertising deals, according to data tracker On3. Bloomberg

■ The White House has asked trade officials to triple steel tariffs on China, from 7.5 percent to 22.5 percent, further crimping Chinese steel imports. In 2023, the U.S. imported 598,000 tons of steel from China, a small fraction of the 6.9 million tons imported from Canada and the 4.2 million tons from Mexico. The Wall Street Journal

■ China’s gross domestic product increased 5.3 percent in the first quarter against a year earlier, beating expectations. Beijing has set a GDP growth target of 5 percent this year, the same as last year’s, which was the lowest such figure in decades. Financial Times

■ The California Highway Patrol announced last week that it had arrested four people it accused of stealing approximately $300,000 worth of Lego sets from stores like Target, Home Depot, and Lowe’s. The Verge