Boeing's brutal 2024, Wegovy gets covered, the next AI stocks, and a retail mess: Business news roundup

Medicare will start covering the popular weight loss drug Wegovy for patients who are prescribed the medication as a way to reduce their risk of serious heart events such as heart attacks and strokes, the U.S. Centers for Medicare and Medicaid Services (CMS) announced.

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The supply chain snarls that followed the pandemic have been mostly unsnarled. Inflation has fallen far below its 2022 peak. And the economy continues to hum, with the recession forecasts that dominated last year well in the rearview mirror. But many of America’s biggest retailers are still dealing with a tangled mess: too many stores, too much product, and shoppers still too spooked by high prices to buy anything they don’t really need.

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It’s been four years since the U.S. Space Force unveiled its all-too-familiar logo, establishing itself as the youngest military branch, but with clear signs of an identity issue. If you’ve ever wondered about the other logo designs that were considered, the Space Force clearly doesn’t want you to know what made them go with the Trekkie emblem.

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This was supposed to be Boeing’s year. After putting Boeing’s last 737 Max crisis behind it, CEO Dave Calhoun had been hoping the company could chart a path toward smoother skies. But then an ill-fated Alaska Airlines flight threw Boeing’s whole year into chaos.

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The AI investing craze has continued to heat up in 2024. AI chip maker Nvidia’s stock alone is up 77% since of the start of the year. While some Wall Street analysts warn that the AI frenzy is a “bubble within a bubble,” others argue that the big tech stocks are actually undervalued.

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Target’s new self-checkout limits have officially started. Shoppers will now have to limit the number of items in their baskets to 10 items or less if they choose to use Target’s standalone kiosks.

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Billionaire philanthropist and Amazon co-founder MacKenzie Scott has donated $640 million to hundreds of nonprofits in her latest round of gifts — more than twice as much as the $250 million she had initially pledged to donate.

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Kroger said it is planning to sell its speciality pharmacy business to pharmacy benefit manager CarelonRx, a subsidiary of Elevance Health.

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Nvidia announced a collaboration with Hippocratic AI, a healthcare company that offers generative AI nurses who work for just $9 an hour. Hippocratic promotes how it can undercut real human nurses, who can cost $90 an hour, with its cheap AI agents that offer medical advice to patients over video calls in real-time.

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Nvidia’s been on a hot streak, becoming the first semiconductor company to reach a $2 trillion valuation in February. The company had seen its stock fall before reporting its fourth-quarter earnings, but rebounded after beating Wall Street’s expectations. The company reported revenues of $22 billion in its fourth quarter — up 270% from the previous year. Nvidia also beat out Amazon and Alphabet to become the U.S.’s third-most valuable company by market cap in February, and bested Saudi Arabia’s Aramco to become the world’s third-most valuable company in March. 

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