Apple is accused of profiting from 'blood minerals'

Key takeaways

Trump's inauguration marks a significant shift in U.S. policy direction, emphasizing aggressive domestic and foreign strategies.
The investigation into Apple's mineral sourcing highlights the growing scrutiny of corporate supply chains and ethical responsibility.
Toyota's strategy indicates a nuanced approach to hydrogen technology, focusing on commercial viability over immediate consumer car sales.
The retreat of banks from climate agreements at Davos reflects a broader hesitation within the financial sector amidst political shifts.

Summary

Donald Trump's Inauguration and Policy Directions

Donald Trump was sworn in as the 47th U.S. President, promising a new golden age for America. He delivered a stirring speech criticizing the previous Biden administration, outlining radical policy proposals such as a national emergency declaration on immigration, tighter controls on illegal entry, and a pivot towards energy independence by removing climate targets. Trump's administration also hinted at the U.S. retaking control of the Panama Canal from China, and he proposed ambitious plans for interplanetary travel.

Apple Under Fire for 'Blood Minerals' Allegations

The Democratic Republic of Congo has launched a criminal probe against Apple, accusing it of complicity in the sourcing of critical minerals from conflict zones, including potential ties to child labor and environmental degradation. Apple's inability to guarantee that these minerals are conflict-free has raised serious concerns, with legal implications for the tech giant and other international companies relying on such resources.

Toyota's Hydrogen Car Challenges

Toyota's ambitions for its hydrogen vehicles have not come to fruition as hoped, facing challenges such as high costs and inadequate fueling infrastructure. Despite this, Toyota is pivoting its strategy, focusing on commercial applications like trucks and buses where they can leverage their technological edge. This evolving approach contrasts with the booming electric vehicle market, with Toyota remaining steadfast in its commitment to hydrogen as a long-term goal.

Shifts at the World Economic Forum

As leaders gather in Davos, several European banks reconsider their involvement in the Net Zero Banking Alliance, signaling a potential shift in climate finance collaboration under Trump's presidency. With Canadian banks and major U.S. firms already pulling out, the future of global banking's commitment to climate initiatives seems uncertain.

Show notes

Belgium has launched a criminal probe into the DRC’s allegation. Donald Trump is sworn in as US president. Davos leaders reject climate banking group. And Toyota struggles to jumpstart hydrogen car sales.

Mentioned in this podcast:

Trump and the contest between two visions of democracy

Apple hit by Belgian probe over ‘blood minerals’ in Congo

Toyota rethinks its bet on hydrogen

Dollar tumbles as Trump shies away from trade tariffs

This episode of the FT News Briefing was produced by Josh Gabert-Doyon, Mischa Frankl-Duval, Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian, Lulu Smyth, and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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