U.S. EEOC Sues Nike Over Discrimination Allegations

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.U.S. PROBE:The U.S. Equal Employment Opportunity Commissionthat the federal agency filed an action in federal court to compel Niketo produce information related to allegations that the company discriminated against white workers, including as a result of Nike's Diversity, Equity, and Inclusion-related 2025 Targets and other DEI-related objectives. According to the EEOC's court filing, the agency is investigating systemic allegations of DEI-related intentional race discrimination, specifically that Nike may have engaged in "a pattern or practice of disparate treatment against white employees, applicants and training program participants in hiring, promotion, demotion, or separation decisions, including selection for layoffs; internship programs; and mentoring, leadership development and other career development programs." The EEOC's investigation and subpoena sought information related to these allegations, with some requests going back to 2018. Information sought included criteria used in selecting employees for layoffs; information related to the company's tracking and use of worker race and ethnicity data, including as a factor in setting executive compensation; and information about 16 programs which allegedly provided race-restricted mentoring, leadership, or career development opportunities. When the company failed to produce all the information sought by the subpoena, the agency filed an enforcement action in federal court, the EEOC said.WBD TAKEOVER:President Donald Trump said in a newon Wednesday did an about-face and said that he will not be involved in the fight between streaming giant Netflixand Paramount Skydanceto buy some or all of Warner Bros. Discovery, according to CNBC's Dan Mangan. "I haven't been involved," Trump told "NBC Nightly News." "I've been called by both sides," Trump said. "It's the two sides, but I've decided I shouldn't be involved. The Justice Department will handle it."CHINA TALKS:President Donald Trumpon his social media site, "I have just completed an excellent telephone conversation with President Xi, of China. It was a long and thorough call, where many important subjects were discussed, including Trade, Military, the April trip that I will be making to China (which I very much look forward to!), Taiwan, the War between Russia/Ukraine, the current situation with Iran, the purchase of Oil and Gas by China from the United States, the consideration by China of the purchase of additional Agricultural products including lifting the Soybean count to 20 Million Tons for the current season (They have committed to 25 Million Tons for next season!), Airplane engine deliveries, and numerous other subjects, all very positive! The relationship with China, and my personal relationship with President Xi, is an extremely good one, and we both realize how important it is to keep it that way. I believe that there will be many positive results achieved over the next three years of my Presidency having to do with President Xi, and the People's Republic of China!"QUANTUM EO:The White House is drafting an executive order aimed at advancing quantum information science and technology, with the goal of coordinating efforts across the federal government to strengthen the U.S. quantum ecosystem, Alexandra Kelley of Nextgov/FCW, citing a draft document obtained by Nextgov/FCW. The order would reportedly direct the Office of Science and Technology Policy to articulate a national vision for maintaining U.S. leadership in quantum technologies. The framework outlines steps such as reducing barriers to commercialization, expanding access to international markets, deepening cooperation with allied countries, building quantum-ready infrastructure, reinforcing supply chains and sustaining long-term basic research. Publicly traded companies in the space include D-Wave Quantum, IonQ, Quantum Computingand Rigetti Computing.