The U.S. Equal Employment Opportunity Commission said Wednesday that it is investigating Nike for allegedly discriminating against white workers.

The agency that polices discrimination in the workplace filed an action in federal court in Missouri to compel the publicly traded athletic shoe and apparel giant to produce information in response to a subpoena the agency served on the company last fall, according to court filings reviewed by NBC News.

The EEOC said it was investigating allegations that the company’s mentorship and training programs and its personnel decisions gave nonwhite employees preferential treatment that amounts, according to the agency, to discrimination against white workers.

Nike is the world’s largest sportswear and apparel company, with nearly 80,000 employees and revenues of around $51.4 billion in 2024.

The allegations were not made by workers at Nike who believed they had been the targets of unfair treatment, however, as is typically the case in EEOC investigations.

Instead, the court filings show that this case stems from a commissioner’s charge brought by then-commissioner Andrea Lucas herself in May 2024, and based on publicly available information such as Nike’s own annual “Impact Reports” and information on its public website.

The EEOC’s request that a judge enforce the subpoena is the latest instance of the Trump administration using a federal agency that is typically charged with preventing and responding to discrimination against nonwhite Americans, and deploying it instead to protect what it says are the underrepresented interests of white people.

Nike has objected in court to many of the EEOC’s demands to documents over the last several months, arguing that they are vague, overly broad, and seek information dating back to well before the period in question.

“This feels like a surprising and unusual escalation,” a Nike spokesperson said. “We have had extensive, good-faith participation in an EEOC inquiry into our personnel practices, programs, and decisions and have had ongoing efforts to provide information and engage constructively with the agency.”

The spokesperson added that Nike has shared “thousands of pages of information and detailed written responses” in connection with the agency’s inquiry and said the company is in the “process of providing additional information.” Nike will respond to the agency’s petition, the spokesperson said.

Lucas was appointed chair of the EEOC by President Donald Trump in November 2025 after serving as a commissioner since 2020, when the president nominated Lucas to the agency.

The agency said it filed the subpoena enforcement action after “first attempting to obtain voluntary compliance with its investigative requests.”

SpaceX on Monday acquired xAI, the artificial intelligence startup that also owns the X social media platform, in a deal combining two companies owned by Elon Musk.

Musk in a news release said that the combination would aim to pursue AI data centers in outer space.

The deal comes on the verge of SpaceX’s highly anticipated initial public offering, which is expected to occur later this year.

The deal creates ‘the most ambitious, vertically-integrated innovation engine on (and off) Earth, with AI, rockets, space-based internet, direct-to-mobile device communications and the world’s foremost real-time information and free speech platform,’ Musk said in a statement.

The combined company will become the world’s most valuable private company, worth more than $1.2 trillion, Bloomberg News reported. NBC News has not been able to verify the valuation, and the companies did not respond to requests for comment.

Musk went on to say that space would be a crucial avenue for building advanced artificial intelligence.

‘In the long term, space-based AI is obviously the only way to scale,’ Musk wrote. ‘The only logical solution therefore is to transport these resource-intensive efforts to a location with vast power and space.’

Musk also offered an ambitious timeline for starting to develop AI from space. He’s failed to meet many of the previous goals he set for his companies.

“My estimate is that within 2 to 3 years, the lowest cost way to generate AI compute will be in space,” he wrote in Monday’s news release.

SpaceX already conducts rocket tests using reusable parts, provides cellular phone and data services to T-Mobile customers, and is working with NASA to return humans to the moon in the near future.

Meanwhile, xAI, Musk’s bid to get in on the AI boom, has reportedly soared to a more than $200 billion valuation. Along the way, the company and its AI bot, Grok, have drawn criticism. Recently, the company limited its image generation technology after users said it was creating sexualized deepfakes. A number of state attorneys general and the European Union are investigating the company.

Musk’s companies have often been intertwined, but Monday’s deal brings them even closer together. Another one of Musk’s companies, Tesla, has invested in xAI and uses some of its technology.

Musk merged his social media site X with xAI in early 2025, but the tie-up between xAI and SpaceX marks the largest combination to date of Musk’s vast business projects.

Founded in 2002, SpaceX has helped catapult Musk to the ranking of richest person in the world, with a net worth of more than $670 billion. The company has quickly become a critical supplier of satellite-based internet around the world, with more than 9,000 satellites orbiting Earth, used by both consumers and governments. SpaceX also holds multiple NASA contracts.

Amazon said Wednesday it was slashing another 16,000 jobs across the company in an ongoing bid to restructure the sprawling trillion-dollar firm.

‘The reductions we are making today will impact approximately 16,000 roles across Amazon, and we’re again working hard to support everyone whose role is impacted,’ Beth Galetti, Amazon’s senior vice president of people experience and technology, said in a memo to employees.

‘That starts with offering most US-based employees 90 days to look for a new role internally,’ she said. Amazon will ‘continue hiring and investing in strategic areas and functions that are critical to our future.’

Galetti said the cuts would ‘strengthen our organization by reducing layers, increasing ownership, and removing bureaucracy.’

In October, Amazon cut 14,000 jobs primarily at the corporate level. At the time, Galetti cited artificial intelligence as being the “most transformative technology we’ve seen since the internet.”

Amazon has 1.55 million employees worldwide, the company said in a filing last year.

It said Tuesday that it would close some of its Amazon Go and Amazon Fresh physical stores, planning to convert some into Whole Foods Market stores.

While AI was not explicitly cited in Wednesday’s note to Amazon workers, the cuts come as workers nationwide brace for the impact of artificial intelligence in a sluggish labor market.

Companies have started citing ‘efficiency’ as they pursue the implementation of AI.

On Monday, Goldman Sachs CEO David Solomon said that his firm’s headcount would be ‘more constrained in 2026’ as the company sees ‘opportunities for efficiency and we try to deploy those.’

On Tuesday, Pinterest said it would cut 15% of its workforce as it pivoted ‘resources to AI-focused roles and teams that drive AI adoption and execution.’

Last year, Microsoft said it was eliminating 9,000 jobs to improve efficiency. Target also cut 1,800 corporate jobs to reduce ‘complexity.’ Instagram and Facebook owner Meta Platforms also reduced its workforce by around 600 jobs as it shifted toward artificial intelligence.

At the same time, hiring nationwide is slowing and inflation remains elevated.

After three months of contraction last year, the U.S. economy added only 56,000 jobs in November and just 50,000 in December. Meanwhile, inflation remains at 2.7%, well above the Federal Reserve’s target of 2%.

President Donald Trump on Thursday filed a $5 billion lawsuit against JPMorgan Chase and its CEO Jamie Dimon, claiming that the bank improperly closed his accounts for political reasons.

‘While we regret President Trump has sued us, we believe the suit has no merit,’ a JPMorgan Chase spokesperson said. ‘We respect the President’s right to sue us and our right to defend ourselves – that’s what courts are for.’

The suit accuses the bank of libel and breach of implied covenant of good faith and fair dealing. It also says the bank and its chief executive violated Florida trade practices laws.

The suit says Trump held ‘several’ accounts at the firm which were closed.

On Feb. 19, 2021, shortly after the Jan. 6 Capitol Hill riot, the bank notified Trump that the accounts would be closed within two months, the suit also says.

The lawsuit adds to a still-growing list of legal efforts from Trump directed at a wide variety of institutions — from media outlets to tech platforms — many of which have resulted in multimillion-dollar settlements. The president’s company, the Trump Organization, sued Capital One Bank last year over allegations of improper account closures. Capital One said at the time that the allegations have no merit.

Dimon, as head of JPMorgan Chase, the nation’s largest bank, is among the most influential people in the business world and someone who has been courted for years by Republicans and Democrats. In the run-up to the 2024 election, Trump falsely claimed that Dimon had endorsed him.

Dimon has at times been critical of some Trump policies — most notably inflation — while supportive of others, including efforts to streamline the U.S. government.

On Wednesday, Dimon criticized the Trump administration over its immigration policies.

‘I don’t like what I’m seeing,’ Dimon told attendees at the World Economic Forum in Davos, Switzerland. Dimon also said that while he doesn’t agree with everything the administration does, he does agree with some of its economic policies.

On Saturday, Trump threatened the lawsuit in a Truth Social post. Over the weekend, JPMorgan Chase said it appreciated ‘that this administration has moved to address political debanking and we support those efforts.’

Almost exactly one year ago, Trump used an address at the World Economic Forum to take a shot at JPMorgan and its competitor, Bank of America.

‘I hope you start opening your bank to conservatives because many conservatives complain that the banks are not allowing them to do business,’ Trump said.

“You and Jamie and everybody, I hope you’re going to open your banks to conservatives because what you’re doing is wrong,” Trump said.

Bank of America said that it serves over 70 million consumers and does not close accounts for political reasons. JPMorgan says that it also serves tens of millions of accounts and likewise does not close accounts on political grounds.

In an expletive-laden interview with CNBC last year, Trump vented his frustrations at big banks that close accounts for legal and regulatory reasons.

‘I had JPMorgan Chase — I had hundreds of millions of dollars in cash,’ Trump told the cable network on Aug. 5. ‘I was loaded up with cash, and they told me, ‘I’m sorry, sir, we can’t have you.”

Trump says he was informed he had 20 days to move his assets out of the bank. ‘I said, ‘You got to be kidding. I’ve been with you for 35, 40 years,” the president recounted.

Trump said, ‘then what happens is I call a Bank of America.’

‘And they have zero interest,’ he said. CEO Brian Moynihan ‘was kissing my a– when I was president, and when I called him after I was president to deposit a billion dollars plus and a lot of other things … and he said, ‘we can’t do it.”

The JPMorgan Chase spokesperson said Thursday that the bank ‘does not not close accounts for political or religious reasons. We do close accounts because they create legal or regulatory risk for the company.’

Trump was indicted multiple times after his first term in office. In 2024, he was indicted on charges that he conspired to defraud the United States, conspiracy to to obstruct an official proceeding, obstruction of and attempt to obstruct an official proceeding and conspiracy against rights.

In recent years, banks have faced intense pressure from conservatives leveling ‘debanking’ claims against them. However, banks and their lobbying groups have long maintained that they do not close accounts for political or religious reasons, but they close accounts based primarily on legal or regulatory grounds.

Trump’s administration has sought to ease those regulations in order to make it harder for a bank to close a customer’s account. In August, Trump signed an executive order which sought to end ‘politicized or unlawful debanking activities.’

In September, the Office of the Comptroller of the Currency, one of the top banking regulators, began a review of banking rules to ‘depoliticize the banking system.’

ROME — Italian fashion designer Valentino Garavani has died, his foundation said Monday.

Usually known only by his first name, Valentino was 93, and had retired in 2008.

Founder of the eponymous brand, Valentino scaled the heights of haute couture, created a business empire and introduced a new color to the fashion world, the ‘Valentino Red.’

‘Valentino Garavani passed away today at his Roman residence, surrounded by his loved ones,’ the foundation said on Instagram.

He will lie in state Wednesday and Thursday, while the funeral will take place in Rome on Friday, it added.

Valentino was ranked alongside Giorgio Armani and Karl Lagerfeld as the last of the great designers from an era before fashion became a global, highly commercial industry run as much by accountants and marketing executives as the couturiers.

Lagerfeld died in 2019, while Armani died in September.

Valentino was adored by generations of royals, first ladies and movie stars, from Jackie Kennedy Onassis to Julia Roberts and Queen Rania of Jordan, who swore the designer always made them look and feel their best.

“I know what women want,” he once remarked. “They want to be beautiful.”

Never one for edginess or statement dressing, Valentino made precious few fashion faux-pas throughout his nearly half-century-long career, which stretched from his early days in Rome in the 1960s through to his retirement in 2008.

His fail-safe designs made Valentino the king of the red carpet, the go-to man for A-listers’ awards ceremony needs.

His sumptuous gowns have graced countless Academy Awards, notably in 2001, when Roberts wore a vintage black and white column to accept her best actress statue. Cate Blanchett also wore Valentino — a one-shouldered number in butter-yellow silk — when she won the Oscar for best supporting actress in 2004.

Valentino was also behind the long-sleeved lace dress Jacqueline Kennedy wore for her wedding to Greek shipping magnate Aristotle Onassis in 1968. Kennedy and Valentino were close friends for decades, and for a spell, the one-time U.S. first lady wore almost exclusively Valentino.

He was also close to Diana, Princess of Wales, who often donned his sumptuous gowns.

Beyond his signature orange-tinged shade of red, other Valentino trademarks included bows, ruffles, lace and embroidery; in short, feminine, flirty embellishments that added to the dresses’ beauty and hence to that of the wearers.

Perpetually tanned and always impeccably dressed, Valentino shared the lifestyle of his jet-set patrons. In addition to his 152-foot yacht and an art collection including works by Picasso and Miro, the couturier owned a 17th-century chateau near Paris with a garden said to boast more than a million roses.