Alex Osola

President Trump is suing JP Morgan for closing his accounts.

Plus, colorectal cancer is now the top cause of death from cancer among younger Americans.

And why Elon Musk decided SpaceX should go public after more than two decades as a private company.

It's Thursday, January 22nd.

I'm Alex Oselev for The Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

Today, President Trump sued JPMorgan Chase and its CEO Jamie Dimon for $5 billion, alleging that the bank closed his accounts for political reasons after the riot at the Capitol on January 6, 2021.

The lawsuit, which was filed in Florida, says the bank closed the accounts that year and that JPMorgan has blacklisted Trump since then.

The president has said the country's biggest banks discriminate against him, his followers, and conservatives broadly.

And he's ordered regulators to launch investigations into banks over allegations of what's known as debanking.

J.P.

Morgan has said it doesn't discriminate based on politics, and a spokeswoman today said the suit has no merit.

more younger Americans are dying from colorectal cancer than any other kind of cancer.

The American Cancer Society said today that more than 3,900 adults under the age of 50 died of cancer of the colon or rectum in 2023.

That compares with just over 3,800 who died of breast cancer, the number two cause of deaths from cancer for that year.

Colorectal cancer cases have been on the rise in younger adults for years, and the fact that it's now the top cancer killer means the disease is often diagnosed when it's already at an advanced stage.

Medical groups have lowered the recommended age for colonoscopies that can detect the disease early on, but doctors say not enough people under 50 are getting the screenings.

SpaceX, one of the most valuable private companies in the U.S., has long resisted going public.

In fact, it got so valuable in part because it could develop risky space businesses outside the scrutiny of public investors.

Its executives like to say the company wouldn't IPO until its rockets were regularly flying to Mars.