Apple will increase spending with black-owned suppliers as part of $100 million racial justice effort

(Reuters) – Apple Inc (AAPL.O) Chief Executive Tim Cook said on Thursday the iPhone maker will increase spending with black-owned partners in its supply chain and seek to increase minority representation among the firms it does business with.

Cook made the remarks in a video posted to Twitter announcing a $100 million racial equity and justice initiative in the wake of the May 25 death of George Floyd in Minneapolis.

Other moves will include programs to foster black application developers and new initiatives to increase diversity and inclusion within Apple, Cook said.