Best Buy’s health chief Asheesh Saksena to step down

spike

Shoppers at a Best Buy store in New York.

Bebeto Matthews | AP

An executive who led Best Buy’s efforts to expand in health-care and connected devices is stepping down from his role, the retailer confirmed to CNBC on Thursday.

Asheesh Saksena, president of Best Buy Health, will leave that post but remain a strategic advisor to CEO Corie Barry, company spokeswoman Carly Charlson said in a statement. As Best Buy looks for a successor, Saksena’s team will report to Barry in the interim, she said.

Best Buy, known for its tech products and its services such as Geek Squad,

Read More

‘Stars are aligned against the dollar,’ currency expert Win Thin warns

spike

A top currency strategist is predicting an ugly quarter for the dollar.

Brown Brothers Harriman’s Win Thin warns the nation’s inability to contain the coronavirus pandemic as effectively as other countries is spooking the market.

“This is one of the rare occasions when Europe will actually outperform the U.S.,” the firm’s global head of global currency strategy told CNBC’s “Trading Nation” on Thursday. “The stars are aligned against the dollar.”

The dollar index is on track for its seventh negative week in a row. It has declined more than 7% over the last three months. On Thursday, the index

Read More

Gilead says it will be able to make enough remdesivir to meet global coronavirus demand in October

spike

A lab technician visually inspects a filled vial of investigational coronavirus disease (COVID-19) treatment drug remdesivir at a Gilead Sciences facility in La Verne, California.

Gilead Sciences | via REUTERS

Gilead Sciences will be able to make enough of its antiviral drug remdesivir to meet global demand due to the coronavirus pandemic in October, the biotech firm said Thursday.

Additionally, Gilead said it plans to produce more than 2 million treatment courses of the drug by the end of the year and anticipates being able to make “several million more” in 2021, adding it has increased supply of the drug

Read More

GM unveils all-electric Cadillac Lyriq as its ‘technology spearhead’

spike

Cadillac Lyriq show car

GM

General Motors unveiled the Cadillac Lyriq crossover Thursday night as the “next chapter” for the American luxury brand and a “technology spearhead” for the automaker.

The Lyriq is the first to debut with the automaker’s next-generation batteries and EV architecture. GM executives believe the technologies will rival, if not outperform, anything else on the market today, including Tesla, the global leader in electric vehicle sales.

“It marks a turning point for the brand, a pivot point for the brand, an opportunity to regain momentum and position the Cadillac brand for its next chapter,” Cadillac President

Read More