Business
US Strikes Iran for Third Time This Week as Waterway Status Disputed Sharply
The United States and Iran traded a fresh wave of strikes over the weekend, with Washington and Tehran issuing directly conflicting declarations over whether the Strait of Hormuz, one of the world’s most critical oil shipping corridors, remains open to commercial traffic.
The U.S. struck Iran for the third time in a week, prompting retaliatory attacks on at least five Arab nations after Iran’s Islamic Revolutionary Guard Corps struck a Cyprus-flagged container ship transiting the strait on July 11, setting it ablaze and leaving 23 crew members affected. In response, U.S. Central Command launched a significant missile assault on Iranian military targets overnight into Sunday, saying it had struck approximately 140 sites, targeting “missile and drone sites, naval capabilities, ammunition storage facilities, communication networks, and coastal surveillance locations.” According to Iranian state media, the strikes also hit Qeshm, an island near the strait, though officials said they targeted only military installations and caused no casualties.
Iran responded early Sunday with drone and missile attacks on American allies across the region, including Kuwait, Jordan, Qatar, Bahrain and Oman. So far, only minor damage has been reported and no casualties confirmed from those retaliatory strikes.
Following the exchange, Iran’s Persian Gulf Strait Authority, an entity Tehran established during the war with the U.S., declared the waterway closed. “Passage through the Strait of Hormuz is currently not possible,” the authority said on X, blaming “recent illegal movements of the United States military forces.” The authority added that “as soon as stability and calm are restored, all requests will be reviewed based on the schedule, and the necessary permits will be issued.”
U.S. Central Command flatly rejected that characterization. “The Strait of Hormuz is open to all vessels seeking to lawfully transit the international waterway,” CENTCOM said in a statement posted to social media. “Iran does not control the strait. Traffic is flowing.” President Donald Trump reiterated that position in a Sunday interview with NBC’s “Meet the Press,” saying that as far as he was concerned, the strait remained open. Trump separately told CNN by phone that the U.S. had hit Iran “very hard” overnight, adding that the two sides had been close to a deal just hours before Iran’s latest attack on shipping. “They were giving up everything, and then all of a sudden, two hours after that, they hit a ship with a drone. These people, there is something wrong with them,” Trump said.
Independent shipping data illustrates the practical impact of the standoff, even amid the dueling official narratives. According to Windward Maritime Intelligence, there were just 21 commercial vessel transits through the strait on July 11, sharply down from the roughly 140 daily transits recorded before wartime closures began. The Joint Maritime Information Center, a global monitoring body, reported Sunday that it remained possible to transit the strait’s southern route, though data from Lloyd’s List Intelligence found no large vessel above 10,000 deadweight tonnage had crossed the so-called Southern Highway, the Oman-hugging shipping lane, while broadcasting its location since July 7, though the firm said at least two ships were believed to have crossed with their tracking systems switched off.
According to the IMF’s PortWatch tracking system, commercial transit through the strait had fallen to just 39% of pre-crisis volume as of its most recent published count, with 34 vessels crossing against a typical 88 per day. Given Iran’s renewed closure declaration and the U.S. military’s insistence that ships continue transiting, analysts have cautioned that PortWatch’s weekly count likely understates the current level of disruption in either direction.
Maritime security analysts have warned that Iran retains meaningful capability to disrupt shipping across the broader Gulf region regardless of the semantic dispute over the strait’s formal status. “Iran has the ability to strike ships across the Persian Gulf, through the Strait of Hormuz, and out into the Gulf of Oman,” maritime analyst Bradford told Al Jazeera. Despite the latest turmoil, oil prices had largely held steady through the end of last week following several days of gains, though Brent crude has since climbed further, with tracking site Strait of Hormuz Live reporting the benchmark at $79.29 per barrel and a 4.3% rise over the preceding 24 hours as of Monday.
The dispute over the strait’s status caps a rapid unraveling of a ceasefire memorandum that Iran and the U.S. had signed earlier this summer, one that had specifically called for reopening the strait as a key condition of easing tensions. Iran had originally closed the waterway in early March following U.S. and Israeli airstrikes on Iranian political and military targets, a closure that at the height of the earlier conflict phase reduced traffic through the corridor to as few as two tankers a day, according to Al Jazeera. Roughly 20% of the world’s oil supply typically transits the strait each year, and any sustained disruption has historically sent energy prices sharply higher.
At least 20% of global oil shipments pass through the narrow waterway between Iran and Oman under normal conditions, with roughly half of that traffic consisting of oil tankers moving an estimated 20 million barrels per day. Data tracking company Kpler had noted resilience in strait traffic just a week earlier, reporting 108 verified crossings over a three-day span in early July, though that recovery has since been erased by the latest round of hostilities.
Independent monitoring service Strait of Hormuz Live currently rates the crisis pressure index in the region at 86, described as “extreme,” while its 30-day escalation forecast sits at 61, or “high,” reflecting acute near-term stress against somewhat more tempered longer-term expectations. Despite the sharp escalation, the service noted that Iran and Oman agreed Saturday to continue technical talks specifically addressing Hormuz navigation, according to Iranian state media, suggesting at least one diplomatic channel remains active even amid the ongoing military exchanges.
As of Monday, the fundamental disagreement between Washington and Tehran over the strait’s operational status showed no signs of resolution, with both governments continuing to issue contradictory public statements even as independent shipping data suggests commercial traffic through the corridor remains severely constrained compared with pre-conflict norms. The situation remains fluid, with further developments expected as both sides continue to assess the aftermath of the weekend’s strikes.
Business
Paramount-WBD merger expected to face lawsuit from states, sources say
Jakub Porzycki | Nurphoto | Getty Images
A group of state attorneys general is expected to file a lawsuit as soon as Monday challenging Paramount Skydance’s proposed acquisition of Warner Bros. Discovery, CNBC’s David Faber reported.
The lawsuit, which will be brought by a group including California Attorney General Rob Bonta, is expected to try to block the merger on antitrust grounds, Faber reported.
The deal would combine two storied film studios — Paramount and Warner Bros. — as well as streaming platforms Paramount+ and HBO Max. Paramount CEO David Ellison has previously said the streaming services would become one following the merger.
It would also mean the formation of the largest portfolio of TV networks in the U.S., bringing together Paramount’s broadcast network CBS and pay TV channels like MTV and BET with WBD’s CNN, TNT and others.
The merger won approval from WBD shareholders in April, and Ellison said in a recent earnings call that it was on track to close by September.
The deal came under scrutiny from lawmakers in both the U.S. and Europe, including related to foreign funding that was part of Paramount’s offer. In mid-June, the U.S. Department of Justice signed off on the tie-up, clearing it of federal antitrust concerns.
“The Division has completed its analysis of the proposed merger of Paramount and Warner Bros. and determined based on the evidence received in its investigation that the transaction is not likely to result in harm to competition or American consumers,” the department said in its determination.
The merger has also won approval from several global jurisdictions as it moves toward a potential close.
However, the the European Union is still reviewing the deal for approval , with a new provisional deadline set for July 22. The European Commission said in a public filing this month that Paramount has submitted concessions in a bid to smooth over concerns regarding the deal.
Hollywood has previously expressed concerns about the combination, citing the likelihood for fewer film releases and the potential for job losses in the industry. Ellison has promised that once combined the film studios would put out a slate of 30 movies per year and has said he’s committed to protecting jobs.
Ellison first set his sights on WBD last September. Just weeks after Paramount and Ellison’s Skydance completed its merger, the company made its initial run for WBD, resulting in several bids and a formal sale process.
WBD ultimately signed a deal to sell its film studio and streaming assets to Netflix. However, Paramount launched a hostile takeover offer and subsequently amended its bid. Netflix ditched its deal, and Paramount walked away with an agreement to buy the entirety of WBD for $31 per share.
Business
Ryan Blaney Wins Rain-Delayed Quaker State 400 in Overtime as Bubba Wallace Penalty Drops Him to 29th
Ryan Blaney turned in one of the most dominant performances of the NASCAR Cup Series season Sunday night, leading a race-high 171 laps and surviving a dramatic overtime finish to win the Quaker State 400 Available at Walmart at EchoPark Speedway in Hampton, Georgia, a race that carried into the early hours of Monday after a lengthy weather delay and ended with a controversial post-race penalty that dropped runner-up Bubba Wallace all the way to 29th.
Blaney, driving the No. 12 Team Penske Ford, started from the pole and controlled the majority of the 400-mile event, sweeping both stages en route to what became his second win of the 2026 season. The race was red-flagged on Lap 108 after lightning and heavy rain moved through the Hampton area, forcing a delay of roughly three hours and nine minutes before the field returned to the track under the lights to complete the remaining laps. A late caution ultimately forced the race into overtime, where Blaney once again rose to the occasion, holding off a hard-charging Bubba Wallace and Carson Hocevar to secure the victory. Blaney’s 171 laps led marked the most laps led at a drafting-style track since Richard Petty’s performance in the 1964 Daytona 500.
“I knew Bubba was probably going to take us three-wide there when he was clear,” Blaney said after the race. “Overall, just a great night. To start on the pole, win both races, win the race, that’s an unbelievable weekend.” Blaney also praised the quality of racing throughout the extended event. “I thought the racing was great the whole night,” he said. “By the end of the race everyone is gripped up — they have the ability to get to the middle, the bottom, and that made it a little more chaotic.”
The race’s decisive moment came on the final lap, when Wallace, driving the No. 23 Toyota for 23XI Racing, took the white flag in third position and shoved Ryan Blaney to the lead entering Turn 1. As Blaney’s car swung high on Carson Hocevar, Wallace darted to the bottom of the track down the backstretch, creating a three-wide battle for the lead. In doing so, Wallace dropped below the track’s double yellow line and remained alongside Hocevar and Blaney through Turns 3 and 4, when a push from Christopher Bell ultimately propelled Blaney across the finish line first. Wallace initially crossed the line in second, appearing to have secured a runner-up finish, but NASCAR officials assessed a post-race penalty for advancing his position below the yellow line, dropping him to the back of the lead-lap cars in 29th and elevating Bell to the runner-up spot.
Wallace defended his move to reporters after the penalty was announced, arguing he never actually gained position while below the line. “The rule says advancing your position, which I did not do,” Wallace said. “I stayed third and I was all over the brakes to make sure I did not advance. As soon as I turned, I was like, ‘I am going to wreck.’ I got on the brakes, kept it underneath me and still ended up side-by-side.” Wallace maintained that the move, had it worked as intended, would have carried him to the win rather than a penalty. “That move should have propelled us to the lead and it didn’t because I knew it was wrong because my car did not like that move,” he said. “We will see what we can do, but I did not advance my position. I stayed third from the entry to three, all the way until 50 yards away, Ty Gibbs gave us a shot.”
Elsewhere, Wallace offered a competing account to another outlet, describing the maneuver as an instinctive reaction to his car losing grip. “I turned left because I got super loose and I just ended up there,” Wallace told EchoPark Speedway’s own reporting team.
Following the penalty announcement, Wallace and his team, including crew chief Charles Denike and 23XI Racing director of competition Dave Rogers, reviewed the race data before heading to the NASCAR hauler for a 31-minute meeting with series officials. NASCAR ultimately upheld the penalty, ruling that Wallace had violated Section 8.7.2.A of the NASCAR Rule Book, which states that “passing below the double painted lines to advance position will result in a black flag.” Wallace accepted the ruling without further argument as he left the meeting. “A penalty is a penalty,” he said.
The final-lap penalty alone cost Wallace 27 points, part of a costly night that also included lost points at the end of Stage 2, when Ty Gibbs bumped Wallace out of sixth position coming to the green-white-checkered finish. Combined, the two incidents left Wallace with just nine points on a night in which he spent significant time racing at the front of the field, including 11 laps leading the race outright. The two drivers discussed the Stage 2 incident on pit road after the race, with Wallace recounting the exchange. “I just said lift,” Wallace said. “I said there’s an opportunity to give, and you didn’t. He was like, ‘Well, don’t block me.’ It’s like, bro, you hit me square in the bumper. The block was well ahead; you seen it coming.” Gibbs, who had also given Wallace a late push toward what briefly appeared to be a runner-up finish, described his own side of the exchange. “I went to tell him sorry because he cleared himself and then, unfortunately, he showed a lot of disrespect,” Gibbs said. “It seems like it didn’t work out for him. I tried to help him out there at the end and push him to win.”
With the 29th-place result, Wallace has now finished outside the top 20 in six of his last nine races. He remains 13th in the regular-season points standings, 55 points above the playoff cutline, after losing 22 points relative to that cutline at EchoPark.
Sunday’s race carried broader championship implications beyond the Wallace penalty. Blaney’s win moved him past William Byron in the regular-season standings and trimmed his deficit to points leader Denny Hamlin to just 65 points, while Christopher Bell’s elevation to second place propelled him into the NASCAR In-Season Challenge semifinals, eliminating his own teammate Hamlin from that separate bracket competition in the process. Chase Elliott also advanced in that tournament by finishing ahead of Chase Briscoe, while Tyler Reddick, who won at EchoPark in February, finished eighth Sunday and cut his deficit to Hamlin in the overall championship standings nearly in half, down to just 24 points.
The race featured seven caution flags across 49 laps and 30 lead changes among 10 different drivers over the course of the extended, weather-interrupted event. The NASCAR Cup Series now heads to North Wilkesboro Speedway next weekend for the series’ first points-paying race at the North Carolina short track in 30 years, with Bell and Blaney set to face off in the next round of the In-Season Challenge bracket alongside the rest of the field.
Business
Sebi tightens ethics rules for current, former employees
The regulator also extended investment restrictions to employees’ family members, the notification, published on Saturday, said.
The Securities and Exchange Board of India had decided to review its rules after former chief Madhabi Puri Buch faced conflict of interest allegations from the now-shuttered Hindenburg Research.
Buch had denied the allegations and was cleared by India’s anti-corruption body last year.
The new rules, including the voluntary adoption of a stricter code of conduct for senior officials at the regulator, were approved by SEBI’s board last month.
The rules, effective Monday, require SEBI officials to recuse themselves from matters involving family members, close associates and former professional relationships, and to disclose negotiations for future employment within 30 days.
Officials must also liquidate or freeze equity holdings before joining SEBI and refrain from trading while in office.The regulator, in a departure from its 2008 code of conduct, extended restrictions on investments by employees’ family members, including spouses and dependent children, with limited exemptions for employee stock option plans and pooled investment vehicles.
The rules also cap exposure to products offered by a single SEBI-regulated fund manager, including mutual funds, portfolio management services and alternative investment funds, at 25% of the employee’s total investments.
Business
FDA delays ruling on GRAS until December

A proposed rule will cover potential mandatory submissions to the FDA.
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Bayer: Debt Remains A Problem, Value Remains Compelling
Bayer: Debt Remains A Problem, Value Remains Compelling
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William Buck acquires Equiti Partners
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Bravida Holding AB (publ) 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:BRVDF) 2026-07-13
Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team
Business
Middle East Conflict And Pressure On Chips Challenge Investors
adventtr/iStock via Getty Images
The re-intensification of the Middle East war initially roiled the markets, but as the session progressed, oil has pulled back and equities have stabilized. August WTI briefly traded above $75 and is now around $73.50, which is still
Business
Perth-founded activewear retailer Stax appoints liquidators
The owners of Perth-founded activewear business Stax Group have moved to wind up the e-commerce-focused brand after it was placed into receivership.
Business
Opinion: Shifting breed mix in WA cattle
OPINION: Angus remains dominant among WA’s cattle herds but the number of northern-adapted breeds is rising.
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