Key Takeaways
- The UK government is actively seeking legal advice to potentially withdraw its $1.15 billion financing commitment to TotalEnergies' (TTE) Mozambique LNG project, citing environmental pledges and security concerns.
- Apple (AAPL) lost its bid to dismiss a major U.S. Justice Department antitrust lawsuit, ensuring years of litigation over alleged smartphone market dominance.
- The TotalEnergies (TTE) Mozambique LNG project, valued at $20 billion, remains under force majeure since 2021 due to Islamist militant attacks, with its operational timeline now pushed to 2029-2030.
- Separately, Apple (AAPL) faces a criminal contempt investigation after a judge ruled it continued anticompetitive App Store practices despite a prior injunction.
The United Kingdom is reportedly taking legal advice on whether to withdraw its $1.15 billion in financial support for TotalEnergies' (TTE) massive Mozambique LNG project, a move that could further complicate the already delayed $20 billion development. This reconsideration by the UK government stems from its commitment made at COP26 to cease taxpayer funding for overseas fossil fuel projects, alongside ongoing concerns regarding the volatile security situation in Mozambique's Cabo Delgado province where the project is located.
The TotalEnergies (TTE) project has been under force majeure since 2021, following a series of Islamist militant attacks that forced the suspension of construction activities. The initial target for liquefied natural gas production in Mozambique has slipped multiple times, now estimated between 2029 and 2030. Environmental organizations, including Friends of the Earth and Oil Change International, have argued that continued UK financing would be "unlawful" and violate climate pledges and human rights obligations.
Despite the UK's potential withdrawal, the US Export-Import Bank (EXIM) re-approved a $4.7 billion loan for the Mozambique LNG project in March 2025, a critical step toward securing the necessary financing. TotalEnergies (TTE), which holds a 26.5% operating stake, aims for the project to supply Asian markets. However, the overall financing remains a challenge, with other international partners, such as the Dutch government, also evaluating their commitments.
Meanwhile, Apple (AAPL) is grappling with significant legal challenges to its business practices, notably losing its bid to dismiss a major antitrust lawsuit brought by the U.S. Justice Department and state attorneys general. Filed in March 2024, the lawsuit accuses Apple (AAPL) of illegally maintaining a monopoly in the U.S. smartphone market by restricting rivals' access to hardware and software features and making it difficult for users to switch devices. U.S. District Judge Julien Xavier Neals rejected Apple's (AAPL) dismissal motion in June 2025, allowing the high-stakes case to proceed, which is expected to involve years of litigation, potentially extending to a trial as late as 2028.
In a separate but related development, a U.S. district judge referred Apple (AAPL) for a criminal contempt investigation in May 2025. This referral came after the judge ruled that Apple (AAPL) continued anticompetitive practices on its App Store, specifically regarding external payment options, despite a 2021 injunction stemming from the Epic Games lawsuit. The court found that Apple (AAPL) had introduced new systems and warnings that continued to stifle competition. Additionally, Apple (AAPL) is challenging a new antitrust penalty law in India, which could expose the company to a fine of up to $38 billion based on global turnover.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.