Target slashes bonuses, Walmart holds the eggs, and cheaper Wegovy: Business news roundup

Target has announced it will reduce bonuses for salaried employees due to weak consumer spending and inflationary pressures.

Bloomberg, citing sources with knowledge of the situation, said employees will receive 87% of their eligible 2024 bonuses, a sharp decline from the previous year, when workers received 100% of their bonuses, with some even seeing their payouts double.

Read More

Nothing drives down a drug’s price like competition. According the U.S. Food and Drug Administration (FDA), a drug’s wholesale price drops by an average of 39% after just one generic competitor enters the market. With four generic competitors, prices tumble by 79%. These reductions translate into billions of dollars in savings for American consumers.

Read More

Novo Nordisk (NVO), the maker of the blockbuster drug Ozempic, is cutting the price of its weight loss drug by more than half for even more patients that pay without insurance.

Read More

Delaware lawmakers on Tuesday night passed a bill restructuring its corporate code, as the state tries to prevent companies like Meta (META) from exiting the state.

Read More

Walmart wants shoppers to celebrate Easter, even if eggs aren’t included in this year’s basket.

The company says its holiday meal for Easter 2025 is cheaper than last year’s, adding that it has something for “everybunny.” This year, Walmart’s (WMT) nine-item meal kit will feed eight for less than $6 per person, with a complete meal priced under $40. In comparison, last year’s kit included 15 items, including eggs, and served up to 10 people, with a total cost of under $80, or less than $8 per person.

Read More

A Berkshire Hathaway (BRK.A) employee has finally won Warren Buffet’s $1 million jackpot for the company’s March Madness bracket.

The employee, who was not named, works for a Berkshire Hathaway subsidiary called FlightSafety International. The worker won the jackpot for correctly guessing 31 of the 32 first-round games.

Read More

In Starbucks (SBUX)’ most recent earnings call, CEO Brian Niccol hit on the company’s “Back to Starbucks” theme, an effort to return the chain to its roots.

Read More

President Donald Trump’s new auto tariffs will have a “significant” effect on Tesla (TSLA), CEO Elon Musk says.

“Important to note that Tesla is NOT unscathed here,” Musk said on his X on Wednesday evening. “To be clear, this will affect the price of parts in Tesla cars that come from other countries. The cost impact is not trivial,” he added in another post.

Read More

Old Navy says its in-store experience is getting a taste of artificial intelligence

The expansion comes as Tesla and other automakers push for a federal approach to regulation