Wendy's surge pricing, Ozempic's competition, bitcoin's rally: The week's most popular stories
Plus, Best Buy closes stores and Elon Musk pays up
Wendy’s probably had the roughest week in business. But there was plenty to go around. Ozempic has some competition emerging in the weight loss drug market. Best Buy $BBY is closing stores and laying off workers. And Elon Musk paid a bakery that Tesla $TSLA had stiffed.
On the other hand, the bitcoin rally continues. Check out the slideshow above for those and more of the week’s most popular stories on Quartz.
Wendy’s would like a word about the difference between “dynamic pricing” and “surge pricing.” After a flurry of attention this week to comments by CEO Kirk Tanner during the fast food chain’s February earnings call, Wendy’s now says it has “no plans” to raise prices when demand is highest.
Zealand Pharma stock was soaring more than 34% on Monday, after the company announced strong results in a clinical trial for a liver disease drug that is also being tested for weight loss.
The race is on to break up the current weight loss drug duopoly held by Novo Nordisk, the manufacturer of Ozempic and Wegovy, and Eli Lilly $LLY, the maker of Zepbound.
The sales floor at Best Buy $BBY may look emptier moving forward. That’s because the consumer electronics company is planning to scale back on its workforce, according to CEO Corie Barry.
Bitcoin keeps soaring and surpassed $60,000 on Wednesday for the first time since 2021. The crypto currency has rallied all week, jumping more than 15% in just four days to $61,074 late Wednesday morning.
Tesla $TSLA has reportedly settled its payment to a California bakery owner who said she was stiffed out of thousands of dollars after an employee at the EV-maker cancelled an order for thousands of pies.
Tesla $TSLA CEO Elon Musk is teasing the EV-maker’s highly-anticipated sports car, the Roadster, and announced that it will finally ship next year.
Toyota $TM Motor has warned consumers that more than 680,000 of its vehicles may suffer issues that could increase the risk of crashes.
The Federal Trade Commission has sued to block the $24.6 billion acquisition of Albertsons by rival grocer Kroger, alleging the deal would harm American consumers already facing high grocery bills.
AT&T $T said it will give $5 back to its wireless customers impacted by the telecom’s widespread network outage last week.
Depreciation is hitting EVs harder than most other vehicles. A combination of technology upgrades, price fluctuations on new cars, and lack of demand has meant a rapid drop in value for many electric models. This phenomenon is especially dramatic for Porsche’s Taycan EV, with high-spec Turbo models losing almost $100,000 in value within four years.