Bloomberg News

📊 🕹️ Nintendo is set to reveal more about the Switch 2 in the coming days and it leaves gamers with one lingering question: Will they be able to pull off the success of Switch 1.0 again? Gearoid Reidy takes a look at Nintendo's historical hits (and misses) in a new piece for Bloomberg Opinion. https://lnkd.in/eV7VaqTp

Coming soon: Go in-depth on Pointed, our weekly news quiz. Quizmaster Aimee Lucido's newsletter will reveal how the game is made and give hints for next week. Sign up here: https://lnkd.in/epfRUMbT

The countdown to the Qatar Economic Forum has begun! Connect with the region shaping the future of global business in 50 days. We'll see you in Doha May 20-22nd.  https://bloom.bg/41aeO59

Amazon will resume theft-prevention screening at its US warehouses and wants employees to register their personal cell phones so security guards know they aren't stolen when the workers exit facilities. Amazon this week will begin informing workers at select sites about the theft screening and cell phone registry and gradually roll it out to all facilities. Amazon faced a lawsuit in the past that went to the US Supreme Court regarding theft screening lines since employees don't get paid for that time. And cell phone access in warehouses has been a hot-button topic for the company and its 750,000 warehouse workers in the US. How do you think large employers can manage theft prevention without wasting too much of their workers' time? https://lnkd.in/gJC_KkRK

New: At least seven people have died in the US from symptoms linked to the Alzheimer's drug Leqembi over the past two years. Three others have suffered lasting disabilities. Leqembi, and a competing treatment, Kisunla, promise to slow the speed at which Alzheimer’s erases a person’s memory, offering hope for the nearly 7 million Americans with the disease. But doctors and regulators are divided over the drugs because they come with the risk of brain swelling or bleeding. The decision is particularly hard for patients with two copies of a gene variant that puts them at higher risk of developing those side effects. Susan Aaron was one of those patients. A 74-year-old retiree with Alzheimer’s, she had started leaving Post-It notes around her apartment because she couldn't remember basic things, like when she had an appointment. She wanted to slow the disease so she could “remain competent, still drive my car safely and take care of myself,” she wrote in a December 2023 email. She died last July after experiencing severe brain swelling and bleeding following her third infusion of Leqembi. “They should have known not to take her with her genetic status,” said her long-term companion. “It’s almost like they put her in front of a firing squad.” Here's a link to the story with Robert Langreth:

Big Law has been seething as firms consider how to respond to executive orders that appear to have singled out firms who've worked for President Donald Trump's political rivals, and have also criticized DEI policies. Ava Benny-Morrison, David Voreacos, Emily Flitter and Justin Henry found out more about what's happening behind the scenes -- and why many of the country's most storied legal firms have been hesitant to sign onto a legal effort to combat the orders. Lots more likely ahead on this front... (And lawyer friends, please don't hesitate to get in touch!) My thanks to folks who shared thoughts on this - incl Peter Zeughauser, Frankel PLLC, Relman Colfax PLLC Keker, Van Nest & Peters LLP Gift link (free for 7 days): https://lnkd.in/e-b3_jcC

Primark, the "cheap chic" fashion brand owned by by Associated British Foods Plc, faces a muscular Chinese rival in the form of Shein. The last thing it needs is turmoil in its top ranks. On Monday, Primark's parent said the chain's chief executive officer Paul Marchant had resigned with immediate effect following an investigation into his alleged inappropriate behavior towards a woman in a social setting. This now leaves ABF and Primark with a big problem of whom to appoint to continue the retailer's growth at a time of international expansion, crumbing consumer confidence and a nimble Chinese rival snapping at its heels. ABF shares fell as much as 5% on Monday. Marchant took over from Arthur Ryan, who founded the business as Penneys in Dublin in 1969. Under his leadership, Primark has expanded in the UK and Europe and entered the US. It has also moved online with a click and collect service. Sales were £9.5 billion last year, up from £2.3 billion in 2009. The timing of the rupture could not be worse. Primark is in the midst of a big US push, at a time when local rivals, such as Gap's Old Navy, are getting their act together. And of course, Shein is seen by some shoppers as better value for money. Eoin Tonge, ABF finance director, will become CEO of Primark on an interim basis. But the company will need to appoint a permanent CEO to continue Primark’s ascent. Tonge is clearly a candidate, but the company will also look externally. Richard Price, who revived M&S’s fashion, is leaving the high street stalwart to pursue a portfolio career, but could he be tempted by one of the biggest jobs in retail? Investors will have to take on Trust that Primark has a strong team. Marchant was not a board director, and other executives are not well known. ABF CEO George Weston said the culture “has to be, and is, bigger than any one individual”. He must demonstrate that's also the case with Primark’s thus far spectacular success. #primark #bloombergopinion, #retail, #fashion, #Gap https://lnkd.in/eRAnGG5m  

Everyone is rightly focused on the potential impact of Trump’s tariffs on the economy as he gets ready to roll out his largest protectionist package yet on “Liberation Day” this week. But it sure looks like we are also watching a constitutional crisis developing on trade. Trump is ignoring Article 1 of the Constitution, which gives Congress the power to levy duties and responsibility for managing international commerce, on multiple fronts. Which means this week Trump is going to test both the resilience of the US economy and the limits of presidential powers. My latest for the Bloomberg News Supply Lines newsletter: https://lnkd.in/eqEr92aX

🇫🇷 Far-right leader Marine Le Pen has been barred from running in France's next presidential election after a Paris court convicted her of embezzling EU funds. Caroline CONNAN explains https://bloom.bg/444qisr 

Nintendo needs to get this launch right. The Mario maker is about to lift the lid on Switch 2, and there's little room for a Wii U-style fumble. It’s not just the first major hardware refresh in 8 years. Switch 2 will replace the device that is the source of almost all Nintendo's revenue. My latest for Bloomberg Opinion, with gorgeous dataviz by my incredibly talented colleague Taylor Tyson. Free to read for the next week: https://lnkd.in/gSUx3ZAH