'European Investment Bank triples its financial commitment to defence'

With a new financial ceiling of €100 billion for 2025, the European Investment Bank (EIB) aims to invest in defence, energy networks and technology.

The European Investment Bank (EIB) is strengthening its role as the European Union's financial arm, with its financing ceiling for this year reaching €100 billion, a new record.

Against a backdrop of geopolitical tensions, the Bank is confirming its commitment to defence and security by tripling its lending. The EIB plans to devote 3.5% of total financing to the military sector. The institution mentions 32 flagship projects in the pipeline.

These announcements validate the extension in recent months of the EIB's security mandate, which marks a paradigm shift in the institution's mission.

This support will be available to all EU companies: public and private, large and small.

"We finance the public sector when it comes to infrastructure for large military barracks. Just this week we got the go-ahead to finance a very important piece of infrastructure in Lithuania, a military barracks that will house a brigade of the Bundeswehr (German army) very close to the Belarusian border," said EIB President Nadia Calviño.

"We are also financing large private companies for research and development programmes in the fields of innovation and industrial capacity," she added.

She also says that she is working with the European Commission to identify other key infrastructures for military mobility.

The climate priority

The EIB's commitment to defence does not, however, mean a complete turnaround. Climate change and clean energy remain priorities. The EIB deems climate action to go hand in hand with European security.

The Bank is therefore launching a new programme of investment in technology and innovation: TechEU. The scheme will provide €70 billion of equity, quasi-equity, loans and guarantees from the EIB Group between 2025 and 2027. It will also call on private capital to generate at least €250 billion of investment. The first wave of TechEU projects will be devoted to clean industries.

"This concerns the products needed to build energy networks. It's about guarantees for clean technology innovators. We also need to support the wind power industry and the deployment of power purchase agreements, which are essential to stabilise energy prices for Europe's major industries," said Calviño.

The EIB President stressed that the green transition and technology also contribute to the EU's strategic autonomy.

https://www.euronews.com/my-europe/2025/06/20/european-investment-bank-triples-its-financial-commitment-to-defence

Emergent BioSolutions (EBS) Added to Russell 3000 Index

 Emergent BioSolutions Inc. (NYSE: EBS) today announced the Company will be added to the broad-market Russell 3000® Index, effective after the U.S. market closes on June 27, 2025, as part of the annual reconstitution of the Russell U.S. stock indexes.

“Inclusion in the Russell 3000® Index is an important milestone in Emergent’s ongoing transformation,” said Joe Papa, president and chief executive officer of Emergent BioSolutions. “This recognition reflects the positive momentum we are building across the organization and helps to position us to enter a new phase of disciplined, sustainable growth in the year ahead. It also reaffirms our commitment to strong execution, financial stability, and long-term value creation for our shareholders.”

https://www.streetinsider.com/Corporate+News/Emergent+BioSolutions+%28EBS%29+Added+to+Russell+3000+Index/24957001.html

Lilly to appeal UK reimbursement denial for Alzheimer's drugs

 

Eli Lilly says it will appeal the decision after the UK health authorities refused to cover the cost of the Alzheimer’s drug Kisunla through the NHS.

The EU has previously refused to approve Kisunla, pointing out that the efficacy does not outweigh the risk of potentially fatal incidents. 

https://medwatch.com/News/Pharma___Biotech/article18294426.ece

Sanofi and Regeneron’s Dupixent gets FDA approval for rare skin disease

 Sanofi (NASDAQ:SNY) and Regeneron (NASDAQ:REGN) Pharmaceuticals received Food and Drug Administration approval for their anti-inflammatory drug Dupixent to treat a rare skin disease, marking the eighth indication in the U.S. for this blockbuster medicine.

The FDA approved Dupixent on Friday as a treatment for adult patients with bullous pemphigoid, according to the companies.

This rare skin disease primarily affects elderly people and causes itching, blisters, lesions, and skin reddening.

The approval was based on results from a pivotal study that demonstrated more patients taking Dupixent achieved sustained disease remission and itch reduction compared to those on placebo.

The FDA evaluated the drug under priority review, a process reserved for medicines that may bring significant improvements to the treatment of serious conditions.

Bullous pemphigoid represents the eighth FDA-approved indication for Dupixent in the United States.

https://www.investing.com/news/stock-market-news/sanofi-and-regenerons-dupixent-gets-fda-approval-for-rare-skin-disease-93CH-4103292

Oil Prices Extend Losses As Iran Rejects Zero Enrichment As Conditions For US Talks

 A series of headlines, some contradictory, on where things stand with Iran nuclear negotiations with the US, sent oil sliding, then pumping, then extending losses again.

One senior Iranian official told Reuters that Iran is 'ready' to discuss limitations on its uranium enrichment, while a quick follow-up headline said "zero enrichment will undoubtedly be rejected" by Iran "especially now, under Israel's strikes."

The official said "the role of European powers is now more prominent, as Tehran is unwilling to engage with US amid Israeli attacks. After that glimmer of hope offered for negotiations, the clarification that nothing has in fact change, sent oil dropping further Friday morning.

Oil prices declined on Friday but stayed on track for a third straight weekly increase, following the White House’s postponement of a decision regarding US participation in the Israel-Iran conflict.

By 1000 GMT, Brent crude futures had dropped $1.89, or 2.4%, to $76.96 per barrel, though they remained poised for a weekly gain of nearly 4%.

According to the latest from Bloomberg:

Israel will complete the task of preventing Iran from gaining nuclear weapons whether or not the US joins the operation, its energy minister said. Iranian President Masoud Pezeshkian said the only way to end the war is to “unconditionally” stop Israel.

developing...

https://www.zerohedge.com/energy/oil-prices-extend-losses-iran-rejects-zero-enrichment-conditions-us-talks

Shell CEO: Contingency Plans Ready If Strait Of Hormuz Closure Triggers Energy Shock

 Shell Plc is preparing contingency plans in case the conflict between Israel and Iran broadens and disrupts oil and gas flows through the critical maritime chokepoint of the Strait of Hormuz. 

On Thursday, CEO Wael Sawan told Bloomberg's Shery Ahn at the Japan Energy Summit & Exhibition in Tokyo, "If that artery is blocked, for whatever reason, it has a huge impact on global trade," adding, "We have plans in the eventuality that things deteriorate."

Shell CEO Wael Sawan tells me about contingency plans in case the Israel-Iran conflict disrupts supplies. https://t.co/AqQXOwbH56#MiddleEastCrisis #energy @Shell pic.twitter.com/3XBHOCoNw0

— Shery Ahn (@SheryAhnNews) June 19, 2025

Although energy flows through the critical waterway—responsible for approximately 20% of global oil trade—remain uninterrupted (at the moment), traders have been on high alert all this week amid widespread GPS jamming in the region, which has degraded navigational awareness and may have contributed to what is shaping up to be a major ecological disaster.

Chokepoint Watch: GPS Jamming Impacts Tankers Across Strait Of Hormuz

• First View: Oil Tanker Erupts In Flames After Collision Near Strait Of Hormuz

• Strait Of Hormuz Tanker Collision Caused 10 Square-Kilometer Oil Spill

On Wednesday, former Iranian Economy Minister Ehsan Khandouzi stated on X and warned...

"Starting tomorrow, for 100 days, no oil tankers or LNG cargoes will be able to pass through the strait without Iran's approval," Khandouzi said. 

He stated, "This policy is decisive if it is implemented in a timely manner. Any delay in its implementation means enduring more war inside the country. Trump's battle must be ended with a combination of economy and security." 

Such messaging, especially when paired with the Islamic Revolutionary Guard Corps (IRGC) naval activity in the region, raises the increasing probability of IRGC actions targeting commercial shipping lanes in the strait. This escalation could serve as the catalyst that turns JPMorgan's $120–$130 per barrel Brent crude forecast from a scenario into a market reality.

Back to Shell's CEO—he told Bloomberg's Shery Ahn, "What is particularly challenging right now is some of the jamming that's happening," adding that "Shell is being very careful" along major maritime routes in the region.

The most imminent threat of a Strait of Hormuz blockade could come as soon as this weekend. Bloomberg reported overnight:

Senior US officials are preparing for the possibility of a strike on Iran in coming days, according to people familiar with the matter, as Israel and the Islamic Republic continue to exchange fire.

Some of them pointed to potential plans for a weekend strike. Top leaders at a handful of federal agencies have begun getting ready for an attack, one person said.

Commenting on the dire situation, Manish Bhargava, CEO of Singapore-based Straits Investment, warned, "Direct US involvement in an attack on Iran would almost certainly trigger a major spike in oil prices." He said, "This surge would aggravate global inflation, making central bank efforts — like the Fed's — to control it more difficult and potentially delaying interest rate cuts." 

https://www.zerohedge.com/commodities/shell-ceo-contingency-plans-ready-if-strait-hormuz-closure-triggers-energy-shock

Appeals Court Upholds Trump's National Guard Deployment In LA

 A federal appeals court ruled Thursday that President Trump can continue using California National Guard troops in Los Angeles to respond to social unrest sparked by far-left NGOs, while a legal challenge over the president's authority proceeds. The ruling temporarily stays a lower court's decision that declared the deployment illegal without California's consent.

In a unanimous 38-page ruling, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit stated that President Trump acted within his legal authority under statutes permitting the federalization of the National Guard, deploying roughly 4,100 National Guard troops and 700 active-duty U.S. Marines to protect federal property and support immigration enforcement operations. 

Trump invoked Title 10 to deploy the National Guard in response to far-left NGOs organizing destabilization operations—so-called color revolutions—masquerading as anti-ICE protests. The uprising, facilitated by dark money networks tied to the left, aimed to ignite nationwide unrest and trigger a 'summer of love' reminiscent of the chaotic BLM riots in 2020.

Here are the key points from Newsom v. Trump, 25-3727, U.S. Court of Appeals for the Ninth Circuit (San Francisco):

Context:

President Trump invoked 10 U.S.C. § 12406 to call 4,000 National Guard troops into federal service after violent protests damaged federal property and injured officers. The mission was limited to protecting federal personnel and facilities.

Legal Challenge:

California Governor Gavin Newsom and the state sued, arguing the order was unlawful ("ultra vires"), violated the Tenth Amendment, and failed procedural requirements by not going properly "through" the governor.

District Court's TRO (June 12):

The district judge blocked the deployment, citing a lack of statutory basis and procedural violations. He found California likely to succeed and said the deployment inflamed tensions and diverted critical state resources.

Ninth Circuit Ruling (June 19):

• Statutory Authority Likely Valid: The court found the president likely acted lawfully under § 12406(3), which allows National Guard deployment when "regular forces" are insufficient to execute federal laws.

• Judicial Review Allowed, but Deference Required: While the President's decision can be reviewed, courts must give it substantial deference due to long-standing precedent (e.g., Martin v. Mott).

• Procedural Compliance Likely Met: The court held the procedural requirement to act "through the governor" was satisfied via California's Adjutant General, who acted under state law in the governor's name.

• Public Interest & Irreparable Harm: The court found a strong federal interest in protecting personnel and property and ruled that allowing National Guard deployment outweighs California's concerns over public unrest or diverted resources.

In a post to his Truth Social platform, the president wrote late Thursday: "BIG WIN in the Ninth Circuit Court of Appeals on the president's core power to call in the National Guard! The Judges obviously realized that Gavin Newscum is incompetent and ill prepared, but this is much bigger than Gavin, because all over the United States, if our Cities, and our people, need protection, we are the ones to give it to them should State and Local Police be unable, for whatever reason, to get the job done."

This time, Trump swiftly quelled what appeared to be the Democratic Party's latest attempt at a nationwide color revolution. The repeated maneuvering of left-aligned NGOs in such destabilization campaigns is deeply concerning. Lawmakers on Capitol Hill must investigate how much funding from the Inflation Reduction Act may have flowed to these NGOs

https://www.zerohedge.com/political/appeals-court-allows-trumps-national-guard-los-angeles-amid-unrest