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Beach Energy Shares Rise As Oil Prices Surge Amid Ongoing Strait Of Hormuz Supply Fears

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Austal Shares Soar 17% After Hanwha's $1.2 Billion Takeover Bid

SYDNEY — Shares in Beach Energy Ltd climbed Tuesday, tracking a broader rally across ASX-listed oil and gas producers as global crude prices extended their advance amid continued uncertainty over shipping traffic through the Strait of Hormuz, a critical Middle East oil transit corridor.

The stock closed up 5.46% at 87 cents, after trading between 85 cents and 88 cents during the session, on volume of more than 16.4 million shares, giving the company a market capitalization of approximately $2 billion.

Tuesday’s gain came as global oil benchmarks continued climbing on concerns that a resolution to the standoff around the Strait of Hormuz remained elusive. Brent crude futures rose more than 1% on the news that a deal to reopen the strait to normal shipping traffic could still be some time away, extending a rally that has pushed prices well above levels seen just weeks earlier. The strait, through which roughly a quarter of the world’s seaborne crude oil and nearly a fifth of global liquefied natural gas shipments typically pass, has remained a focal point for energy markets since tensions between the United States and Iran escalated earlier this year.

The renewed uncertainty follows months of volatility in global oil markets tied to the broader conflict. Reports of fresh attacks on tankers and a disputed Iranian claim to control passage through the strait have kept traders on edge, with shipping data showing daily vessel movements through the corridor running at a small fraction of pre-conflict levels. That persistent disruption has kept a so-called war premium embedded in oil prices for much of the year, benefiting oil and gas producers with exposure to global benchmark pricing, including Beach Energy.

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Beach Energy’s share price gain Tuesday came despite a more mixed recent run for the company following its full-year results, released last week. The Adelaide-based oil and gas producer reported sales revenue of 1.8 billion Australian dollars for the 2026 financial year, down 10% from a year earlier, alongside underlying EBITDA of 1 billion Australian dollars and underlying net profit after tax of 355 million Australian dollars. The company said the results reflected resilient operational performance despite flood-related disruptions in the Cooper Basin and severe rainfall earlier in the year that affected production. Total production for the year reached 19.4 million barrels of oil equivalent, down 2% from the prior year.

Despite the revenue decline, Beach Energy highlighted improved margins and strong cash generation for the year, with underlying EBITDA margin improving to 57% and operating cash flow reaching 890 million Australian dollars, aided by six cargoes shipped from its Waitsia liquefied natural gas project in Western Australia and stronger realized gas pricing. The company ended the year with net gearing of 10.6%, below its internal target of 15%, and closing cash reserves of 213 million Australian dollars.

Beach Energy shares had initially slipped following the results release, as investors focused on the year-over-year revenue decline despite the underlying operational improvements, but Tuesday’s session saw the stock recover ground alongside the broader sector-wide lift from rising oil prices.

The company’s Waitsia project, developed in partnership with Mitsui, has been a key focus for investors this year as it progresses toward full production, with LNG cargoes from the project already contributing meaningfully to cash flow. Beach Energy has also continued to emphasize cost discipline across its operated assets, alongside completion of a major offshore decommissioning campaign, known as the Equinox campaign, during the financial year.

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Tuesday’s advance for Beach Energy formed part of a broader rally across the ASX energy sector, which has drawn sustained investor attention throughout 2026 given the sector’s direct sensitivity to swings in global oil and gas prices tied to the ongoing Middle East conflict. Other Australian energy names, including larger rival Santos, also posted gains during Tuesday’s session as crude prices continued climbing.

Looking ahead, analysts have said Beach Energy’s near-term share price performance is likely to remain closely tied to both the trajectory of global oil prices and the company’s ability to sustain the operational improvements highlighted in its recent results, particularly as the Waitsia project continues ramping toward full contribution. With the situation in the Strait of Hormuz still unresolved, market watchers say continued volatility in oil markets is likely to keep energy stocks like Beach Energy sensitive to fast-moving geopolitical headlines in the weeks ahead.

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Why JPMorgan is investing big in the 2028 LA Olympics

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Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the Pennsylvania Defense and Innovation Summit in Carlisle, Pennsylvania, July 15, 2026.

Tom Brenner | Bloomberg | Getty Images

LOS ANGELES – For years, JPMorgan executives have been talking with Olympics organizers about sponsoring the games. Before the next event, taking place in Los Angeles in 2028, the firm officially opted in — making a massive, nine-figure bet as the Games’ first-ever global banking partner. 

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While terms of the agreement were not disclosed, these types of partnerships are estimated to go for upwards of $200 million per four-year cycle. In an interview with CNBC, John Slusher, a former Nike executive and CEO of the U.S. Olympic and Paralympic Properties, called JPMorgan “as big a partner as we get.”

JPMorgan is also a vote of confidence for the organization’s highest level of sponsorship, called The Olympic Partners, which comes with exclusive marketing rights. The program, which was created in 1985, saw several major companies – including PanasonicToyota and Bridgestone – depart at the end of 2024. 

Slusher has been revamping the business model to attract big-ticket sponsors. He said organizers created a joint venture across the various properties to put all rights in one place for commercialization, so a company can pursue one deal across the LA Olympics, Team USA and the Paralympics, if it chooses.

He also said they’re trying out new marketing opportunities that extend beyond the games, including a torch relay that will extend for 100 days in all 50 U.S. states, as well as naming rights in a lot of the venues. 

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“We try to balance not overly commercializing the Olympics, which is really important, but also driving revenue, which helps us put on a better games,” Slusher said in the interview. 

JPMorgan’s partnership includes the LA 2028 Olympic and Paralympic games, as well as the games in the French Alps in 2030.

The company also announced last week that it plans to hire more than 100 additional business bankers across Southern California – a 30% increase – pegged to its presence at the LA Games. The firm already has 5 million consumer-banking customers and 589,000 small-business clients in Los Angeles, it said. 

“We think it’s really important for us to bring in the ecosystem that supports these small businesses, so that they can take advantage of what’s going on in the business of the Olympics,” said Carla Hassan, chief marketing officer of JPMorgan. 

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Hassan called the Olympics partnership a “firm-wide initiative” for JPMorgan. She said the company will evaluate the return-on-investment through brand strength, client and customer engagement, customer acquisition and employee pride.

It’s also the latest push for the firm that’s heavily invested in the sports industry, including across Madison Square Garden in New York and the Chase Center in San Francisco, home to the NBA’s Knicks and Golden State Warriors, respectively.

JPMorgan is also a long-time sponsor of the US Open Tennis Championships in New York, and it recently announced a multimillion-dollar deal to sponsor the athletic program at Ohio State University. And, earlier this year, it launched an Athlete Council, composed of all-star athletes including seven-time Super Bowl champion Tom Brady and World Cup champion Alex Morgan, with the aim of improving financial literacy and wealth management for those in the sports industry. 

Hassan said the opportunity to partner with the Olympics and Paralympics was unique and appealing because of its international reach. 

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“Very few partnerships are that global in nature, right?” Hassan said. “It really is its own animal.” 

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France bans unsolicited telemarketing calls

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Woman with angry expression holds phone up to her ear looking frustrated. She has brown hair and wears a grey knit top.

France has banned unsolicited telemarketing phone calls, in what a consumer group is hailing as a “small revolution” for the sales industry.

From Tuesday, unsolicited calls are prohibited for businesses in all sectors – but there are some exceptions.

Calls will only be permitted if they relate to a contract a person has already entered into or the company has obtained prior consent to be contacted for marketing.

“It cannot be stressed enough that peace and quiet is a right, and it is time to stop exposing consumers to unwanted solicitations,” consumer advocacy group Que Choisir Ensemble, said in a statement.

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“This observation also holds true online and on the street, which are saturated with demands to consume,” group president Marie-Amandine Stévenin added.

She said the group had long been advocating “for an end to the automatic assumption that someone in their home or private life is a potential customer.”

“This is a victory for consumers, the vast majority of whom do not want to receive sales calls,” she said.

But the law change has riled some business groups, and officials in Morocco, where the call centre sector is heavily reliant on the French market.

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One government minister estimated the telemarketing restrictions could lead to the loss of up to 50,000 jobs, according to a report in Moroccan newspaper Le Matin.

The head of France’s direct-selling trade association, the Fédération de la Vente Directe (FVD), also criticised the reforms for adding what he said were administrative burdens for businesses.

“You’ll have to obtain written consent from your customer, and you’ll also have to keep proof of that consent,” Frédéric Billon said in comments reported by the New York Times.

According to a 2025 parliamentary report, 97% of people are annoyed by telemarketing calls, with the authors wryly noting it is “one of those rare issues that unites people in France”.

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The same report found 72% of French people reported being contacted on their mobile phones at least once a week, while 38% said they were called once a day.

Germany, Austria and Italy are among the European countries that impose significant restrictions on telemarketing calls, often referred to as cold calls.

In the UK, most telemarketing calls are legal provided the recipient has not objected to the call and their number is not on a statutory list of people or businesses who do not want to receive calls.

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Warburton’s crumpet plant expands as baking giant continues its investment in Burnley

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1.4 million crumpets made every day at Warburton’s site

Two Warburtons crumpets on a plate

Warburtons makes hundreds of millions of crumpets a year(Image: Jess Flaherty/Liverpool ECHO)

Baking giant Warburtons has been given the go-ahead to start producing an industrial amount of an essential ingredient at its Billington Road factory, where two-thirds of the UK’s crumpets are produced every day.

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The new production capability is just one part of Warburtons’ large investment in its Burnley facilities, the main producer of sandwich thins, wraps, and crumpets for the UK’s largest baker.

This £100m nationwide investment in its manufacturing capacity was reaffirmed by the firm in May, just weeks after a fault on its potato cake line caused a massive fire that ripped through the facility.

It took two days and dozens of firefighters to put out this accidental blaze, which caused serious damage to a portion of the building, but left the important crumpet production area untouched.

1.4 million of these classic British breakfast staples fly out the door of the firm’s Burnley factory every day. That is almost 510 million over the 364 days the factory operates every year.

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But a key ingredient in producing the crumpets’ quintessential spongey structure, known as ‘cream yeast’, was previously having to be bought in. This living material feeds on the sugars in the mix and turns it into carbon dioxide, which creates the product’s bubbled texture.

However, after gaining planning permission from Burnley Council for the construction of a new bio-fermentation plant, Warburtons will now be able to produce vast quantities of this liquid yeast on site.

This is important as yeast is a living single cell microorganism, so transporting the ingredient to a factory inevitably causes it to become less effective and requires it to be less specialised for general sale.

But with these new fermentation tanks, Warburtons will be able to pipe its own specialised yeast straight into its manufacturing lines, or to its other factories.

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Warburtons on Billington Road, Burnley.

Warburtons on Billington Road, Burnley(Image: Google Maps)

Two 6.8 metre high steel fermentation tanks will form the centre of this new production compound, which is adjacent to the flour silo at the Billington Road site. This area will take over a portion of the car park, resulting in the loss of two spaces.

The new structure will help to boost the output of two new high-speed crumpet production lines at the facility that were announced in April, with Burnley-born yeast soon giving the baked product its distinctive bubbles.

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Federal budget deficit projected to reach $2.1 trillion in FY2026

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Federal budget deficit projected to reach $2.1 trillion in FY2026

The federal budget deficit is now expected to surpass $2 trillion this fiscal year, which would be one of the largest shortfalls on record as spending growth continues to outpace tax receipts.

The nonpartisan Congressional Budget Office (CBO) on Monday released its monthly budget update for July, which showed the federal government ran a nearly $1.8 trillion deficit through the first 10 months of fiscal year 2026, which runs through the end of September.

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That figure represents an increase of $169 billion when compared with the same 10-month period in fiscal year 2025. Federal spending increased $308 billion from a year ago, outpacing the $139 billion rise in tax receipts.

CBO also noted it now estimates the budget deficit will rise to $2.1 trillion, up $200 billion from last fiscal year, for the full fiscal year 2026 based on information available through the end of July.

US NATIONAL DEBT SURPASSES SIZE OF THE ECONOMY FOR FIRST TIME SINCE WORLD WAR II

The U.S. Capitol building at sunset

The federal government is on pace to run a $2.1 trillion budget deficit this year as fiscal year 2026 nears its end. (Kevin Carter/Getty Images)

“CBO expects 2026 outlays to be close to the February baseline amounts. Revenues, by contrast, are anticipated to be about $200 billion below the February projections, mostly because of smaller-than-expected collections of tariff duties – a result of a Supreme Court ruling handed down after CBO’s baseline was released,” the agency wrote.

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Increased spending was primarily driven by the cost of servicing the federal government’s more than $39 trillion national debt, as well as rising expenses for the government’s three largest mandatory spending programs – Social Security, Medicare and Medicaid.

Costs related to paying interest on the debt were up $117 billion, or 14%, in the first 10 months of fiscal year 2026 compared with the same period a year ago. The rise was attributed to higher long-term interest rates, as well as the larger national debt.

NATIONAL DEBT INTEREST AND ENTITLEMENT SPENDING PUSH FY2026 FEDERAL BUDGET DEFICIT TOWARD $2 TRILLION

Spending on Social Security benefits rose $70 billion, or 5%, from a year ago due to higher average benefits following inflation adjustments and an increase in the number of beneficiaries.

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Medicare costs increased $66 billion, or 8%, from a year ago due to increased enrollment and higher payment rates for healthcare services. Medicaid spending was up $45 billion, or 8%, because of rising costs per enrollee.

Tax revenue from both payroll and taxes rose by a combined $202 billion, or 5%, compared with a year ago. Withholdings from workers’ paychecks were up $141 billion, or 5%, amid rising wages and salaries. Tax refunds paid to individuals rose $23 billion, or 7%, due to provisions in the One Big Beautiful Bill Act (OBBBA).

WHAT ARE THE BIGGEST BUDGET DEFICITS IN US HISTORY?

Donald Trump celebrates 'big, beautiful bill'

The One Big Beautiful Bill Act was passed by Republicans and signed into law by President Donald Trump last year, which affected notable tax policies. (Tom Brenner For The Washington Post via Getty Images)

Corporate income tax collections were down $89 billion, or 23%, due to provisions in the OBBBA that expanded deductions for investments and resulted in fewer tax receipts.

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Collections of customs duties including tariffs increased $18 billion, or 13%, compared with the same period a year ago.

Through April, monthly collections were higher than they were a year ago, but net collections have declined sharply since May when the government began paying out tariff refunds under a Supreme Court ruling from February. CBO noted that about $100 billion in tariff refunds have been issued to date.

SOCIAL SECURITY’S MAIN TRUST FUND FACES DEPLETION IN 2032, TRIGGERING BENEFIT CUTS

Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget (CRFB), said in a statement that federal borrowing has grown to an “astounding” level and that a deficit on track to surpass $2 trillion when the economy isn’t in a recession “is not normal.”

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“Incredibly, such an enormous level of borrowing barely scratches the surface of our fiscal deterioration,” she explained. “We are about to hit the sobering milestone of $40 trillion in gross national debt, and things are only likely to get worse.”

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“If lawmakers want to correct our fiscal course, they should start by targeting a reasonable fiscal goal, like 3% of GDP deficits, and then create a bipartisan commission to figure out how we should get there. We can no longer afford to put off the difficult decisions – the time to act is now,” MacGuineas added.

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California Resources: Executing On Strategic Priorities But Hedges Sap Away Earnings Power

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California Resources: Executing On Strategic Priorities But Hedges Sap Away Earnings Power

This article was written by

I am a Licensed Professional Engineer who works in the Nuclear Power industry. I use my professional working knowledge of the power/energy industries to aid in evaluating potential equities worthy of long-term investment. I invest in income producing equities and rental real estate properties for cash flow and long-term appreciation. My articles are to serve as a platform for presenting the underlying fundamentals and long-term potential of each equity/business.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Why Investors Fall for Shooting Stars | The Intelligent Investor for Aug. 11

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Why Investors Fall for Shooting Stars | The Intelligent Investor for Aug. 11
Jason Zweig


My colleague Spencer Jakab wrote last week about why investors seem to forgive fallen investing stars. A question that intrigues me is why investors fall for these shooting stars in the first place.

Leopold Aschenbrenner’s hedge fund Situational Awareness was up 270% this year through May and had amassed $45 billion at its peak.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Q-Park takes on 20 former NCP car parks

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Deal includes sites in Birmingham, Bristol, Manchester, Newcastle and Cardiff

General view of the Q-Park car park at Greenside Row, Edinburgh

The existing Q-Park car park at Greenside Row, Edinburgh(Image: Sunday Mail)

Q-Park has taken on 20 former NCP car park sites across the country in a “significant expansion” focused on town and city centres.

NCP, which operated more than 340 car parks across the UK, fell into administration in March. Now Q-Park has taken over the running of 20 former NCP sites on long-term leases after negotiations with their landlord.

The move comes two years after Q-Park acquired Britannia Parking, which it called a “significant milestone” in its growth. Several of the newly-acquired car parks will be run under the Britannia brand.

In a statement, Q-Park said: “With the previous operator of these locations having entered administration, there was a genuine risk that, like a number of other facilities, these car parks could have ceased operating. This acquisition helps secure their long-term future, ensuring that convenient parking remains available for the local community while providing continued support for local businesses, visitors and the wider local economy.”

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Q-Park said it also planned to carry out refurbishment work at its new sites, including improving pedestrian routes and potentially adding EV charging equipment.

Adam Bidder, managing director of Q-Park UK, said: “We are delighted to have completed this agreement, which marks a significant expansion of our portfolio of city centre parking facilities across the UK. It allows us to bring the Q-Park brand and service offering to a wider range of towns and cities, including locations where we have not previously operated. We remain committed to investing in our network and will continue to explore further acquisition opportunities as part of our long-term growth strategy.”

The car parks that will operate under the Q-Park brand

Birmingham – Newhall Street

Bristol – Rupert Street and St James Barton

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Cardiff – Greyfriars and Westgate Street

Colchester – High Street and Osborne Street

Hemel Hempstead – Hillfield Road

Ipswich – Tacket Street and Tower Ramparts

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Manchester – Palace and Sackville Street

Newcastle – John Dobson Street

Nottingham – Stoney Street

Truro – Highcross

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The car parks that will operate under the Britannia Parking brand

Birmingham – City Centre

Dundee – Willison Street

Gloucester – Blackfriars

Shrewsbury – Wyle Cop

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Wolverhampton – Piper’s Row

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Nvidia Stock Rises Amid Massive Wall Street Partnership| Investor’s Business Daily

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Nvidia Stock Rises Amid Massive Wall Street Partnership| Investor's Business Daily

Nvidia (NVDA) was reversing higher Tuesday after a nearly 3% fall to start the week. The stock has formed a clear base amid earnings reports from key players in the artificial intelligence field, including Advanced Micro Devices (AMD), Alphabet (GOOGL), Amazon (AMZN) and Microsoft (MSFT). With a market cap of $5.3 trillion, Nvidia has reclaimed its crown as the most…

Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Financial Stocks Jump After Nvidia Confirms Huge AI Funding Deal

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Financial Stocks Jump After Nvidia Confirms Huge AI Funding Deal

Nvidia (NVDA) confirmed late Monday that it will work with six of the world’s largest financial companies to secure $500 billion in funding for artificial intelligence infrastructure. The financial stocks jumped on Tuesday. Nvidia stock also rose while rival AMD (AMD) fell intraday. The Financial Times first reported the development, which the AI chip giant confirmed after Monday’s market close.…

Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Campbell’s Co. formulates gluten-free Goldfish

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Campbell’s Co. formulates gluten-free Goldfish

The crackers will launch in November.

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