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Apple

Apple this morning announced that it will invest $200 million into Corning as the first investment from its $1 billion Advanced Manufacturing Fund. Corning has long made the glass covers for Apple's devices, starting with the first iPhone 10 years ago.

Between the lines: President Trump has pushed Apple to bring more of its overseas manufacturing plants back to the U.S., so investing in partners that already have manufacturing operations is smart politics and good business.

Other notes, based on source conversations:

  • Don't view this deal as the template for future Apple AMF investments. Corning is a mature, publicly-traded company with which Apple has a longstanding commercial relationship. But the next deal could be for much less money and into a startup with which Apple has no existing ties. Or not. It's really agnostic on these issues.
  • The fund obviously isn't looking to lose money, but $1 billion is a relative drop in the bucket for Apple. The key is helping to finance future innovations that Apple may eventually be able to somehow leverage.
  • Still no official word on how this fund is structured, but it's worth noting that Apple COO Jeff Williams is the one quoted in the press release.

Go deeper

Justice Department closes Emmett Till murder probe

A faded photograph is attached to the headstone that marks the gravesite of Emmett Till in Burr Oak Cemetery in Chicago, Illinois. Photo: Scott Olson via Getty Images

The family of Emmett Till announced Monday that the Department of Justice has formally closed its second investigation into the 1955 murder of Emmett Till.

Why it matters: The DOJ reopened the probe in 2018 after the white woman at the center of the case reportedly recanted her allegation that Till, a Black 14-year-old, sexually harassed her prior to his murder.

DOJ cites discrimination in lawsuit against Texas over voting districts

Attorney General Merrick Garland. Photo: Alex Wong/Getty Images

The Department of Justice on Monday filed a lawsuit against Texas, alleging Republican state lawmakers discriminated against Black and Latino voters and has "again diluted the voting strength of minority Texans" when they approved new redistricting maps.

Why it matters: A DOJ assessment of the new districts found that they violate Section 2 of the Voting Rights Act, Attorney General Merrick Garland said at a press conference.

4 hours ago - World

Biden to warn Putin U.S. will add troops in Eastern Europe if Russia invades Ukraine

Putin meets Biden in Geneva. Photo: Peter Klaunzer - Pool/Keystone via Getty

President Biden will warn Russian President Vladimir Putin when they speak on Tuesday that if Russia invades Ukraine, the U.S. is prepared to increase its troop presence, capabilities and military exercises on NATO's "eastern flank," a senior administration official told reporters.

Why it matters: The administration believes it's increasingly likely that Putin will order an invasion.

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