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…
For at least two decades, former Amazon executive Dave Clark ended his work week the same way: a standing Friday date night with his wife, Leigh Anne. Over dinner, the Clarks would talk through the “peak and pit” of their weeks. The ritual often revolved around Amazon, where Clark played a central role in building…
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…
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…
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…
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…
The company that owns the iconic luxury retailer Saks Fifth Avenue filed for bankruptcy late Tuesday. The move comes after Saks Global struggled with debt it took on to buy rival Neiman Marcus, lagging department store sales and a rising online market. It’s one of the largest retail collapses since the Covid pandemic, and casts…
Warner Bros. Discovery on Wednesday rejected Paramount Skydance’s amended takeover offer, the latest in a series of rejections in David Ellison’s pursuit of the streaming and cable giant. The media company said it remains committed to the $82.7 billion deal it reached in December to sell its streaming service, studio and HBO cable channel to…
Trump Media & Technology will merge with a fusion power company in an all-stock deal that the companies said Thursday is valued at more than $6 billion. Devin Nunes, the Republican congressman who resigned in 2021 to become the CEO of Trump Media, will be co-CEO of the new company with TAE Technologies CEO Michl…
MILAN — The Prada Group announced Tuesday that it has officially purchased Milan fashion rival Versace in a 1.25 billion euro (nearly $1.4 billion) deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal. The highly anticipated deal is expected…