There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
The president also said he "offered to personally vouch" for Rocky's bail. Sweden, however, does not have a bail system.Politicsread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
CoinShares Chief Strategy Officer Meltem Demirors discusses Facebook's Libra project and its impact on the cryptocurrency market after testifying to the House Financial...Fast Moneyread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
A group of female former employees of Nike are suing the company over allegations that it systematically discriminated against women and fostered a hostile work environment, according to a lawsuit.
The suit filed Thursday in U.S. District Court in Portland, Oregon, says the sports apparel maker "intentionally and willfully discriminated against [women] with respect to pay, promotions, and conditions of employment."
The complaint, which seeks class-action status, is led by former employees Kelly Cahill and Sara Johnston, who worked at the company's Beaverton, Oregon, headquarters. Cahill now works for rival Adidas.
"Women's career trajectories are blunted because they are marginalized and passed over for promotions. Nike judges women more harshly than men, which means lower salaries, smaller bonuses, and fewer stock options," the lawsuit reads. "Women's complaints to human resources about discrimination and harassment, including sexual assault, are ignored or mishandled."
In a statement to CNBC, Nike said they oppose discrimination in any form. "We are committed to competitive pay and benefits for our employees. The vast majority of Nike employees live by our values of dignity and respect for others," the company said in the statement.
Complaints first surfaced at Nike in March when a group of women presented CEO Mark Parker with a survey on gender discrimination.
Nike reacted swiftly with Parker quickly restructuring his leadership team and announcing that then-President Trevor Edwards would retire in August.
Edwards, who was being groomed to be a possible successor to Parker, has been blamed in the lawsuit for creating and exacerbating a "hostile work environment."
The company also admitted it failed in hiring and promoting women, ousted at least 11 executives and announced raises for 7,000 employees after conducting an internal review of its pay practices.
The CEO apologized to employees in May.
"We, and I, missed something. While many of us feel like we're treated with respect at Nike, that wasn't the case in all teams. And if all of our teammates don't see the same opportunities, we just can't accept that," he said at the time.
In the lawsuit, Cahill cites a culture where women felt excluded, were subject to hostility and were referred to in demeaning ways. She resigned from Nike in 2013. Cahill says she voiced her complaints to human resources at least four times to no avail.
"For many women at Nike, the company hierarchy is an unclimbable pyramid - the more senior the job title, the smaller the percentage of women," the suit reads. "Women's career trajectories are impacted because they are marginalized and passed over for promotions."
The group is seeking changes in company pay practices, a court-appointed monitor, back pay and an unspecified amount of punitive damages.
"The way Nike marginalizes women at its headquarters is completely contrary to how it portrays itself to its customers as valuing women in sports and the importance of providing equal opportunity to play," said Byron Goldstein of Goldstein, Borgen, Dardarian & Ho, which is representing the women.
Meanwhile, Nike's stock has not seen any material impact. The shares are trading near its all-time highs.
— CNBC's Nick Wells contributed to this article.