Best Buy made just $12m in profit on revenues of $10.6bn in the last quarter, falling from $150m over the same period last year. With stock and sales alike slumping, the firm suspended its profit forecast and share buybacks. Best Buy knows exactly what the problem is—it freely admits that everyone uses it to check out gadgets they then buy cheaper online—but hasn't found a way to turn the tide. [BBC and Dealnews]
On Tuesday, the US Food and Drug Administration (FDA) approved Johnson & Johnson's hallucinogenic drug esketamine (brand name Spravato) nasal spray as a "monotherapy" treatment for major depressive disorder. The drug… READ THE REST
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