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New York Fed finds surging gas prices hit low-income households hardest

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New York Fed finds surging gas prices hit low-income households hardest

A new report by the Federal Reserve Bank of New York finds that the recent rise in gas prices has affected households very differently based on their income level.

Energy prices hit a four-year high in March amid the Iran war, prompting the closure of the Strait of Hormuz, which is a chokepoint through which about 20% of the world’s oil supply passes through aboard tankers.

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The New York Fed’s analysis finds that high-income households increased their nominal spending on gasoline the most and kept their real consumption at a level that was essentially unchanged when compared with pre-war spending patterns.

By contrast, low-income households decreased their real consumption of gasoline but also saw sharp increases in their nominal spending because of the higher gas prices, contributing to a so-called K-shaped pattern in gasoline consumption.

GAS PRICES SURGE PAST $4.50 NATIONALLY AS IRAN TENSIONS PRESSURE DRIVERS

A driver refuels a vehicle at a London service station as energy costs climb amid Middle East tensions.

Low-income households pulled back on their gasoline spending the most among income groups, the New York Fed found. (Jack Taylor/Reuters)

The patterns in gasoline consumption are a qualitative match to what played out when energy prices rose in the wake of Russia’s invasion of Ukraine in 2022.

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The New York Fed’s report used data from analytics firm Numerator that showed nominal gasoline spending rose over 15% in March, rising from 10% below its 2023 level to 5.5% above that mark.

That increase was driven by gas prices, as real gasoline consumption declined 3%, whereas the Advance Monthly Retail Trade Survey found spending at gas stations rose 14.5% in March.

CHEVRON CEO SAYS ECONOMIES ‘ARE GOING TO HAVE TO SLOW’ AS STRAIT OF HORMUZ CLOSURE DISRUPTS OIL SUPPLY

Cars line up at a Costco gas station in Bayonne, New Jersey, US, on Saturday, Dec. 9, 2023. Costco Wholesale Corp. is scheduled to release earnings figures on December 14. Photographer: Angus Mordant/Bloomberg via Getty Images

Consumers across income groups pulled back, although high-income households’ spending changed the least. (Angus Mordant/Bloomberg)

Gas prices also contributed to a K-shaped pattern among income groups, as low-income households increased their spending the least by 12%.

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Despite that overall increase, low-income households cut their real gas consumption the most, buying 7% less gas, with higher prices contributing to the overall increase.

Among high-income households, their nominal gas spending rose by 19%, which was the most among the income groups, largely because they reduced their real gas consumption by the least at just a 1% decline.

RISING GAS PRICES ARE CRUSHING RESTAURANT SALES AS $4 A GALLON BECOMES TIPPING POINT FOR CONSUMERS

Oil tankers in the Strait of Hormuz.

Shipping traffic through the Strait of Hormuz went to a virtual standstill amid the Iran war. (Giuseppe Cacace/AFP via Getty Images)

Middle-income households had moderate increases in nominal spending and decreases in real consumption at gas stations, showing that the K-shaped consumption pattern for both nominal and real gasoline spending prevailed in March 2026.

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The New York Fed economists explained that the K-shaped pattern has “opened up much more than before” in comparison to the 2022 shock caused by Russia’s invasion of Ukraine.

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“Higher-income households have reduced real gas consumption only modestly and increased gasoline spending considerably compared with 2023,” they explained. “In contrast, lower-income households increased spending by much less and decreased real consumption by much more, potentially by carpooling or substituting to public transit where available.”

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ECB’s Schnabel sees rising inflation risk from Iran war

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ECB’s Schnabel sees rising inflation risk from Iran war


ECB’s Schnabel sees rising inflation risk from Iran war

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Forensic Experts Say DNA and Suspect’s Fame Craving Hold Key to Solving Case

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Savannah Guthrie & Nancy Guthrie

TUCSON, Ariz. — Three months after 84-year-old Nancy Guthrie vanished from her Catalina Foothills home in a suspected nighttime abduction, forensic experts are pointing to advanced DNA analysis and behavioral clues about a fame-seeking perpetrator as the most promising paths to resolution in one of the year’s most high-profile missing persons cases.

Guthrie, mother of NBC’s “Today” co-anchor Savannah Guthrie, was reported missing Feb. 1, 2026. Security footage captured a masked individual approaching her door around the time she disappeared. Blood evidence, a disabled Ring camera, propped-open doors and other signs convinced authorities she did not leave voluntarily. No ransom has been paid, and no suspect has been publicly named despite thousands of tips.

Savannah Guthrie & Nancy Guthrie
Savannah Guthrie & Nancy Guthrie

Forensic science professor April Stonehouse of Arizona State University told investigators and journalists in a recent NewsNation special that she believes DNA evidence — specifically a rootless hair sample recovered from the scene and sent to the FBI lab in Quantico — will ultimately crack the case. “I hope it is,” Stonehouse said when asked if the advanced testing could provide the breakthrough. Genetic genealogist CeCe Moore echoed that DNA could serve as the “Hail Mary,” though full analysis may take months.

The hair, along with potential DNA from gloves found nearby that matched those worn by the masked figure in doorbell video, has been prioritized for advanced forensic processing. Labs involved in major cases like the Gilgo Beach killings are reportedly assisting, raising hopes for a genetic genealogy match even without a traditional database hit.

Behavioral Profile Points to Fame-Seeking Suspect

Forensic psychologist Dr. Gary Brucato, who developed a “Gradients of Evil” scale, offered a chilling assessment of the perpetrator’s mindset. He suggested the suspect may have craved fame or attention, staging elements of the crime scene to mislead investigators. Brucato theorized Nancy Guthrie might have been killed elsewhere, with the home scene arranged as a cover, citing the blood on the doorstep and strategically opened back door as possible red herrings.

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“The person who did this probably has some passing relationship, at least, with this victim,” Brucato said, noting the suspect’s apparent comfort level inside the home as seen on surveillance. He described the individual as potentially psychopathic and “too cool under pressure,” traits consistent with someone seeking notoriety through a high-profile crime tied to a celebrity family.

Other experts, including “Mindhunter” profiler Dr. Ann Burgess, have raised the possibility of retribution as a motive or that the kidnapper may no longer be alive, complicating recovery efforts. Former FBI profiler Mary Ellen O’Toole, now a forensics professor, analyzed the masked suspect’s demeanor in early video footage, highlighting behavioral red flags.

Investigation Tensions and Evidence Challenges

The case has exposed friction between local authorities and federal agencies. FBI Director Kash Patel publicly criticized the Pima County Sheriff’s Department for initially keeping the FBI out of the probe for several days, a claim Sheriff Chris Nanos has pushed back against. Despite the disputes, the investigation remains active with homicide detectives and federal support.

Key evidence includes a rootless hair sent for mitochondrial and possibly nuclear DNA testing, potential glove DNA, and multiple ransom-style notes received by media outlets — some claiming sightings in Mexico — that experts deem highly unusual. A $1 million family reward offered in late February remains unclaimed.

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Savannah Guthrie has balanced public pleas for information with her return to the “Today” show in April. She has described the ordeal as unimaginable, wearing yellow — a color of hope — during appearances and emphasizing her family’s focus on bringing her mother home. The emotional toll surfaced again this week when she abruptly left a broadcast, though she returned the next day.

Why This Case Stands Out

Forensic criminologists note the abduction’s rarity for an elderly victim in a relatively secure neighborhood. The masked intruder’s boldness, apparent familiarity with the home, and lack of immediate financial demands differentiate it from typical stranger abductions or burglaries. Brucato suggested it could have begun as a burglary gone wrong before escalating.

Advanced forensic tools now in play include genetic genealogy, which has solved cold cases by building family trees from distant relatives’ DNA uploads to public databases. Stonehouse highlighted how modern techniques can extract usable profiles even from degraded samples like rootless hairs.

Community and National Attention

The disappearance has gripped the nation, with neighbors in the Tucson foothills expressing unease and continuing to display ribbons and signs of support. Door-to-door canvassing, expanded surveillance reviews and public appeals have generated tips, but concrete leads remain elusive as the case approaches 100 days.

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Pima County officials renewed their plea for information this week, stressing the investigation continues “until Nancy is located or all leads exhausted.” Speculation about the suspect’s possible death or relocation adds urgency to forensic breakthroughs.

Experts caution that while DNA offers the strongest scientific hope, behavioral analysis and public vigilance remain crucial. The fame-craving theory aligns with cases where perpetrators insert themselves into investigations or seek media spotlight. Any arrest could hinge on matching digital footprints, vehicle sightings or witness recollections to the forensic profile.

Path Forward

As testing progresses, authorities balance optimism with realism. The involvement of elite labs and profilers underscores the case’s priority. Savannah Guthrie and her family continue advocating while preparing for any outcome after more than 90 days of agonizing uncertainty.

Forensic experts like Stonehouse and Brucato agree the combination of cutting-edge science and deep behavioral insight provides the best chance for justice. Whether through a DNA match that identifies a suspect with a fame motive or another overlooked clue, resolution may finally be within reach in a mystery that has captivated and heartbroken millions.

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The coming weeks could prove decisive as lab results trickle in and the reward incentive lingers. For now, the focus remains on Nancy Guthrie — a mother, grandmother and beloved community member — and the unyielding hope for her safe return or answers that bring closure.

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Basic Materials Roundup: Market Talk

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Basic Materials Roundup: Market Talk

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0702 ET – Comments from Henkel’s management alongside its first-quarter results highlight the importance of hair and relative weakness of laundry within its portfolio, analysts at Barclays say. It appears that the German chemical and consumer-goods company is trying to dilute laundry in their portfolio, they add. Hair products were the main draw of investor attention and gave reassurance for consumer brands. Overall, management stood behind the quality of the results despite a volatile macroeconomic backdrop, they say. Shares are up 4.6% at 66.22 euros. (aimee.look@wsj.com)

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

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Portugal and Italy will not suspend digital border checks for Brits

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Portugal and Italy will not suspend digital border checks for Brits

Reports had suggested the countries were set to follow the example of Greece, which effectively suspended biometric checks for UK nationals.

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Diamond Hill Small-Mid Cap Strategy Q1 2026 Commentary

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Diamond Hill Small-Mid Cap Strategy Q1 2026 Commentary

Diamond Hill Capital Management, Inc. is a wholly owned subsidiary of Diamond Hill Investment Group, Inc. Diamond Hill Investment Group is a publicly traded company, and its shares trade on the NASDAQ (Ticker: DHIL). Note: This account is not managed or monitored by Diamond Hill Capital Management, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Diamond Hill Capital Management’s official channels.

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What Employers Really Want from Designers in 2026

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What Employers Really Want from Designers in 2026

In boardrooms and hiring meetings across the UK, the conversation around creative talent is changing. Design is no longer viewed purely as a visual function, it is increasingly seen as a business-critical discipline that shapes branding, customer experience, and product success. For employers, this shift has redefined what it means to hire a “good designer.”

A recent study by Adobe Acrobat, based on the analysis of more than 14,000 job listings on Indeed, provides a detailed look at how these expectations are evolving. The findings reveal a clear hierarchy of skills, but also a deeper story about how creative roles are being repositioned within modern organisations.

Technical Skills Still Anchor Hiring Decisions

Despite the broader evolution of the role, technical expertise remains the foundation. The study found that experience with design tools is the most frequently mentioned requirement, appearing 765 times across job descriptions.

Adobe Creative Suite leads this category, with one in four listings referencing Adobe products directly. Meanwhile, 21% of job postings mention Figma, 8% refer to Microsoft tools, and 7% highlight typography.

From a business perspective, this emphasis is easy to understand. Employers are not just hiring for potential, they need designers who can contribute immediately, using tools that are already embedded in company workflows. Technical fluency reduces onboarding time and ensures consistency across projects, making it a non-negotiable requirement.

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Collaboration as a Commercial Skill

Where the findings become more interesting is in the rise of collaboration as the second most in-demand skill, with 447 mentions.

Nearly 29% of job listings reference working with others, and 1 in 10 highlight close collaboration with other teams. This reflects a broader shift in how businesses operate. Design decisions are rarely made in isolation; they are influenced by marketing strategies, product development timelines, and customer insights.

In this environment, designers must function as connectors, translating ideas between departments and ensuring that creative output aligns with wider business objectives. Collaboration, therefore, is not just a “soft skill.” It is a commercial one.

Ownership and Initiative: Hiring for Accountability

The third and fourth most sought-after skills, management (327 mentions) and initiative (214 mentions), highlight another important trend: employers are increasingly hiring designers who can take ownership of their work.

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Nearly one in five job descriptions mention responsibility for tasks, while others refer to stakeholder management and the ability to manage multiple projects. Initiative appears in 21% of listings, signalling a strong preference for candidates who can operate independently.

For businesses, this reduces the need for constant oversight and allows creative teams to move faster. For candidates, it raises the bar. Employers are no longer just assessing design quality, they are evaluating how individuals think, prioritise, and execute.

AI Skills Enter the Mainstream

One of the most notable developments in the study is the inclusion of AI skills in the top 10, with 134 mentions.

This signals a turning point. AI is no longer a niche or experimental area, it is becoming part of the core skill set for creative professionals. From automating repetitive tasks to enhancing ideation, AI tools are reshaping how design work is approached.

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The growing role of AI and higher education reflects how academic pathways are evolving to better align with real-world creative workflows. Universities are increasingly embedding AI-driven tools into design education, ensuring graduates are prepared for environments where technology and creativity intersect.

For businesses, hiring designers with AI awareness offers a competitive edge. For candidates, it represents an opportunity to differentiate themselves in a crowded market.

Communication: Turning Creativity into Business Value

Creative work only delivers value when it can be understood, implemented, and measured. This is why communication skills rank fifth, with 203 mentions across job descriptions.

A quarter of listings reference written or verbal communication, while interpersonal skills appear in 5% of cases. For employers, this reflects the need for designers who can justify decisions, present ideas to stakeholders, and contribute to strategic discussions.

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According to the Chartered Institute of Personnel and Development, communication remains one of the most critical skills in modern workplaces, particularly in roles that sit at the intersection of creativity and business. In design, this intersection is becoming increasingly central.

The Expanding Role: Leadership, UX, and Adaptability

Beyond the top five, the study reveals how the designer’s role is continuing to expand.

Leadership skills, mentioned 157 times, suggest that even mid-level designers may be expected to mentor others or guide projects. UX skills (153 mentions) reflect the growing importance of user-focused design in digital products and services. Flexibility (135 mentions) points to the need for adaptability in fast-changing environments.

Attention to detail, appearing in 18% of job descriptions, remains a consistent requirement, an essential quality in maintaining standards across increasingly complex projects.

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Together, these skills paint a picture of a role that is no longer narrowly defined. Today’s designers are expected to contribute across multiple dimensions, from execution to strategy.

Where Future Talent Is Emerging

Alongside employer expectations, the study also highlights where the next generation of designers is coming from.

Lincoln ranks first in the UK for interest in learning creative design, with 91 searches per 1,000 people. Worcester (87), Norwich (75), Durham (71), and Chester (66) complete the top five.

Other cities in the top 10 include Dundee, Wrexham, Preston, Oxford, and St Albans. Notably, the North West and the East of England are the only regions with multiple cities represented.

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What stands out is the role of AI in these search trends. In cities like Lincoln and Worcester, searches for AI video generators are among the most popular, indicating strong interest in emerging creative technologies.

For businesses, this geographic spread is significant. Talent is no longer concentrated in traditional creative hubs, it is distributed across the country, driven by access to digital tools and online learning.

A Shift in How Businesses Define Creative Talent

Taken together, the findings from the Adobe Firefly study highlight a broader transformation. The definition of a creative designer is expanding, shaped by the needs of modern organisations.

Technical skills remain essential, but they are now part of a wider framework that includes collaboration, communication, initiative, and adaptability. AI is accelerating this shift, introducing new tools and expectations that are quickly becoming standard.

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For employers, the challenge is identifying candidates who can operate across these dimensions. For aspiring designers, the message is clear: success will depend not just on what you can create, but on how effectively you can apply your skills in a business context.

In 2026 and beyond, creative talent will not be measured solely by output, but by impact.

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Sun Life Financial Inc. 2026 Q1 – Results – Earnings Call Presentation (TSX:SLF:CA) 2026-05-07

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q1: 2026-05-06 Earnings Summary

EPS of $1.89 beats by $0.00

This article was written by

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

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Form 13F ALLIUM FINANCIAL ADVISORS For: 7 May

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Form 13F ALLIUM FINANCIAL ADVISORS For: 7 May

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New approaches to texture innovation

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New approaches to texture innovation

Multi-layered, airy textures are creating opportunities for manufacturers.

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Used car prices fall for first time this year as gas prices spike

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Used car prices fall for first time this year as gas prices spike

Customers browse in a used car lot in Glendale, California, Feb. 15, 2023.

Mario Tama | Getty Images News | Getty Images

DETROIT — Used car prices fell last month for the first time since October as gas prices rose amid the war in Iran.

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Cox Automotive’s Manheim Used Vehicle Value Index — which tracks prices of used vehicles sold at its U.S. wholesale auctions — decreased 1.6% last month compared with March and were up 1.8% compared with the same month a year earlier.

Cox said affordability remains a key concern for buyers, which is driving increased demand for older vehicles and all-electric vehicles at Manheim auctions.

Gas prices at the end of April were up $1.12 per gallon compared with a year earlier to a national average of $4.30 a gallon, according to AAA. They’ve continued to rise since, with the national average hitting $4.56 as of Thursday.

“The conflict in the Middle East has now been ongoing for two months, and while energy prices backed off a bit in mid-April, they have reaccelerated to the upside: the price of gas just hit a high for the year and is up 47% since the end of February,” Cox Automotive chief economist Jeremy Robb said in a release. “Those higher prices are soaking up a lot of the extra money in consumers’ pockets, and currently there’s no end in sight.”

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Retail prices for consumers traditionally follow changes in wholesale prices, which Cox forecasts to rise at a historically stable rate of about 2% this year. The average listed price of a used vehicle was $25,390 as of March, according to Cox. That was up roughly $100 from February.

The average listing price for a used EV remains more than $9,200 higher than the overall market, but new and used vehicle retailers have said the rapid rise in gas prices has led to higher EV sales following a slowdown after the end of federal incentives last year by the Trump administration.

Manheim’s electric vehicle index was up 7.2% year over year and up 1.4% from March.

April’s lower pricing follows a strong spring selling season, fueled by many consumers spending higher tax refunds to purchase or finance used vehicles, Cox said.

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