Business
Gallup data finds non-AI users more likely to face layoffs in 2026
Heritage Foundation chief economist EJ Antoni debates AIs impact on employment, arguing competition fosters job creation. Cheryl Casone highlights AI valuation concerns, shifting investment trends, and national security implications with China.
American workers who never use artificial intelligence (AI) may be more likely to be laid off than those who use AI more regularly, according to new data.
Gallup research found that 62% of workers who have been laid off were non-users of AI who used it once per year or less often. By contrast, only 50% of currently employed workers were non-users of AI, with 22% described as infrequent AI users who utilize it a few times per month or year. Among laid-off workers, 16% were infrequent AI users.
Currently, employed workers were also more likely to report using AI on a daily basis or a few times per week, with 28% of current workers reporting that compared with 22% of laid-off workers in their prior role.
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Laid-off workers aren’t attributing their job loss to AI, though it may factor into how companies are restructuring, Gallup found. (Yuki Iwamura/Bloomberg via Getty Images)
“This pattern holds even after accounting for age, education, type of industry and the length of time since being laid off, suggesting that workers who are AI non-users appear to have been more vulnerable in the job market,” Gallup said.
One particularly vulnerable group was tech workers who reported using AI on a monthly basis or less frequently, as they were three times more likely (18%) to have been laid off than tech workers who used AI at least monthly (6%).
Gallup added that workers in the tech sector were already facing elevated layoff exposure in comparison to other industries, which contributed to there being a stronger pattern between the level of AI use and layoffs than in other sectors.
MICROSOFT CUTS 4,800 POSITIONS, INSISTS JOBS ‘NOT BEING REPLACED BY AI’
Workers who use AI regularly were less likely to be laid off, Gallup found. (Roberto Schmidt/AFP via Getty Images)
The survey also found that American workers are continuing to report that their employers are downsizing their workforces, and they don’t see artificial intelligence (AI) or automation as driving the cuts.
Gallup found that the share of U.S. employees who reported layoffs at their company was about 21% in the first quarter of 2026, as it held relatively steady after the share of such reports nearly tripled from the second quarter of 2022 to the third quarter of 2025.
TOP TOBACCO COMPANY TO CUT THOUSANDS OF JOBS
Tech workers who aren’t AI users were more vulnerable to layoffs, Gallup found. (iStock)
Workers who experienced layoffs were asked by Gallup to describe the primary reason they were laid off and very few – just 1% of respondents – mentioned reasons related to AI and automation.
However, that doesn’t necessarily mean that AI or automation didn’t contribute to employers’ decisions to move forward with layoffs, as respondents cited other reasons like organizational restructuring and downsizing (15%), or the elimination of a role (3%).
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That could suggest that AI is factoring into business leaders’ consideration of their workforce structure and decisions to hire or downsize, even if it wasn’t articulated to the laid off workers as the reason they lost their job.
Business
ASX 200 Slides Over 0.6% as Rare Earths and Lithium Stocks Tumble Amid Global Semiconductor Sell-Off Today
SYDNEY — Australian shares fell for a third consecutive session Wednesday, with the S&P/ASX 200 down 58 points, or 0.66 percent, to 8,745.9 in early afternoon trading, as renewed weakness in semiconductor stocks worldwide and a fresh wave of selling in lithium and rare earths names weighed on the broader market.
Wednesday’s decline followed a session on Wall Street in which chip stocks fell for a second straight day. The Nasdaq 100 dropped 1.8 percent overnight, while the S&P 500 lost 0.4 percent and the Dow Jones Industrial Average eased 0.2 percent after trading as much as 0.44 percent higher earlier in the session, according to Market Index. SPI futures had pointed to a subdued opening for the ASX 200 on Wednesday, with the index initially expected to open just 3 points lower before a broader risk-off tone took hold as the local session progressed.
The pullback extends a rough stretch for Australian equities. The benchmark index closed Tuesday down 27.1 points, or 0.45 percent, at 8,803.9, as overnight U.S. military strikes near the Strait of Hormuz reignited Middle East tensions, pushing oil prices and bond yields higher and draining risk appetite from the market’s most globally exposed sectors, according to Market Index’s evening wrap. That followed a 13-point, or 0.2 percent, decline on Monday to 8,831, itself a retreat from a one-week high reached the previous Friday.
Wednesday’s session has been dominated by continued turmoil in South Korea’s chip sector, which has rippled through to related Australian stocks. South Korea’s KOSPI index tumbled a further 4.9 percent Tuesday following a weak second-quarter earnings reaction from Samsung Electronics, even though the company posted a record 89.4 trillion Korean won operating profit, a figure that surpassed the highest quarterly profits ever recorded by both Nvidia and Apple. Despite those historic results, Samsung shares fell sharply, weighing on broader Asia-Pacific technology sentiment that has continued to affect trading into Wednesday.
Base metals and critical minerals stocks bore the brunt of Tuesday’s and Wednesday’s selling. Nickel Industries, South32 and Sandfire Resources were each down more than 4 percent Tuesday, while major diversified miners BHP and Rio Tinto fell 1.9 percent and 1.8 percent respectively. Lithium and rare earths names were hit particularly hard despite relatively benign underlying commodity price signals, with Liontown Resources down 7.6 percent, Mineral Resources down 5.6 percent, Pilbara Minerals down 5.4 percent, Lynas Rare Earths down 6.4 percent, and Iluka Resources down 4.2 percent, according to Market Index. Chinese lithium carbonate futures eased only marginally by comparison, down just 0.7 percent, while benchmark neodymium-praseodymium prices were actually up 0.3 percent in China, underscoring the extent to which the local declines outpaced the underlying commodity moves.
Gold miners also came under renewed pressure. The S&P/All Ordinaries Gold index was down as much as 4 percent at Wednesday’s session lows before paring some losses, according to Market Index, continuing a reversal from the strong gains gold stocks posted just days earlier. Northern Star Resources and Evolution Mining had jumped 10.6 percent and 8.6 percent respectively on July 4 as bullion rallied on softer U.S. payroll data, but gold stocks tumbled 4.3 percent Tuesday as bullion retreated, with Northern Star dipping a further 5.1 percent.
Not every sector has struggled amid the broader pullback. Information technology stocks bucked the wider downturn Tuesday, with the sector’s benchmark index rising 2 percent even as South Korean tech shares slumped, buoyed in part by a governance-related rally in WiseTech Global, which jumped 5.7 percent after the company confirmed the removal of Richard White from the chairman role, a move the market interpreted as meaningfully de-risking a stock that had shed more than 40 percent from its highs partly due to governance concerns. Fellow technology names NextDC, TechnologyOne and Xero also posted gains Tuesday, while the big four banks advanced between 0.9 percent and 1.6 percent, providing some offsetting support to the broader index.
Individual company news has continued to shape Wednesday’s session. Gold miner Predictive Discovery reported that its Kiniero mine in Guinea ran well above nameplate capacity during the June quarter, milling 2.2 million tonnes at 0.86 grams per tonne of gold to pour 54,252 ounces, with its Nampala operation adding a further 9,774 ounces for a combined 64,026 ounces. The company reported cash and bullion holdings of $530 million as of June 30. Fellow gold producer Ramelius Resources delivered 192,182 ounces for the full financial year, within its guidance range and marking the company’s sixth consecutive year of meeting production targets, while Alkane Resources reported 168,337 gold-equivalent ounces for the year, near the upper end of its own guidance range.
In a separate significant corporate development, logistics company Qube Holdings confirmed that its scheme of arrangement to be acquired by Rubik Australia has become legally effective, with the New South Wales Supreme Court’s approving orders lodged with the Australian Securities and Investments Commission. Qube shareholders are set to receive cash consideration of $5.20 per share, less interim and special dividends, with the transaction expected to be implemented on August 14. Elsewhere, U.S. biotechnology company Vertex Pharmaceuticals agreed to acquire San Diego-based Crinetics Pharmaceuticals for $85 per share in cash, a deal valuing the company at approximately $10 billion and sending Crinetics shares up roughly 100 percent, a transaction that drew attention among Australian biotech-focused investors given its scale.
Looking at the broader picture, the ASX 200 has traded in a range between 8,490.90 and 8,983.80 over the trailing month, according to Investing.com data, with the index still up 1.91 percent over the past 12 months despite the recent volatility. Analysts at IG have projected the index could move toward the 9,300 to 9,500 range by the end of 2026, though that outlook depends heavily on how the current tension between a resilient U.S. technology sector, a hawkish Reserve Bank of Australia, and uncertain Chinese economic data resolves itself in the coming months. With China’s June inflation figures due for release later this week and the RBA continuing to signal that further interest rate increases remain possible, investors are likely to remain cautious as they navigate a market being pulled simultaneously by domestic monetary policy, global commodity price swings, and overnight developments on Wall Street.
The government is looking to divest up to a 5.04% stake in the state-run shipbuilder through the OFS. The sale involves more than 1.32 crore shares. As of the March 2026 quarter, the Centre held a 67.91% stake in Cochin Shipyard, while retail investors owned 19.66% and high-net-worth individuals held 0.73%.
The non-retail portion of the OFS was subscribed 3.52x on Tuesday, prompting the government to exercise the entire greenshoe option to sell an additional 2.52% stake in the company. The Centre had initially offered to sell a 2.52% stake, equivalent to 66.29 lakh shares.
Also read:Cochin Shipyard OFS gets 3.5x bids; govt exercises greenshoeThe indicative bid price stood at Rs 1,401.85 per share, compared with the floor price of Rs 1,400. At the floor price, the sale of the full 5.04% stake is expected to fetch around Rs 1,800 crore for the government.
The OFS is part of the Centre’s ongoing disinvestment programme. Since May 21, the government has raised more than Rs 20,000 crore through a series of OFSs. In June, it conducted stake sales in companies including Coal India, NLC India, NHPC, IRFC, GIC**,** and others.
The government has exercised the greenshoe option in every OFS it has launched so far this year.
How to apply?
Retail investors can submit bids through the OFS section available on their trading platform or broker’s application. Before placing bids, investors should check details such as the floor price and bid quantity. The bid price must be equal to or higher than the floor price of Rs 1,400 per share.Investors also need to maintain sufficient funds in their trading accounts, as the bid amount will remain blocked until the allotment process is completed. Shares will be credited to the Demat account of successful applicants on the settlement date, while unsuccessful bidders will have the blocked amount released.
Shipyard shareholding pattern
The government owned nearly a 68% stake in Cochin Shipyard as of March 31, 2026, according to the company’s shareholding pattern filed with the NSE. Meanwhile, around 9.62 lakh retail shareholders held approximately a 20% stake in the company.
Life Insurance Corporation of India (LIC) owned more than a 3% stake, while 24 mutual funds owned slightly more than a 2% stake in the company. Foreign investors, meanwhile, held around a 3% stake in the company’s total equity.
Cochin Shipyard share price
Cochin Shipyard is one of India’s leading public sector shipbuilding and ship repair companies. The company’s shares have delivered over 400% returns in the past three years and nearly 700% returns in the past five years.
Recently, the stock has come under pressure. The PSU’s shares have dropped more than 29% over the past year and over 12% in 2026 so far. The company has a market capitalisation of nearly Rs 38,000 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
NEW YORK — Shares of Space Exploration Technologies Corp., trading under the ticker SPCX, declined sharply on Tuesday as investors digested post-IPO volatility and awaited updates on the company’s ambitious Starship development program.
The stock fell about 5.77%, or $9.26, to $151.16 in morning trading. The move extended a period of consolidation following the company’s highly anticipated public debut earlier in June, which was one of the largest initial public offerings in market history. Trading volume remained elevated as market participants assessed the valuation and long-term growth prospects of the privately held rocket pioneer now navigating public market scrutiny.
SpaceX, founded by Elon Musk, made its Nasdaq debut at an initial pricing that valued the company at roughly $1.77 trillion, reflecting enormous enthusiasm for its reusable launch capabilities, Starlink satellite constellation, and role in NASA’s Artemis program. The IPO raised substantial capital, but shares have experienced swings typical of high-profile technology listings as investors calibrate expectations around execution risks and capital intensity.
The latest decline comes against a backdrop of steady operational progress. Starship, the company’s fully reusable next-generation vehicle, continues its test flight campaign. Recent flights, including the twelfth test in May 2026, demonstrated advancements in Version 3 hardware, though challenges such as engine performance and booster recovery remain areas of focus. SpaceX has outlined plans for more frequent testing, potentially including monthly launches and preparations for Florida operations later in the year.
Starship represents the cornerstone of SpaceX’s vision for cost-effective access to space, human missions to Mars, and large-scale satellite deployment. Success in achieving rapid reusability could transform not only the launch industry but also enable new applications in point-to-point Earth transport and deep-space logistics. However, the program’s iterative development approach — involving deliberate test-and-learn cycles — has led to spectacular successes interspersed with vehicle losses, contributing to investor nervousness around timelines and spending.
Starlink, the satellite internet business, continues rapid expansion. The constellation provides broadband connectivity to remote areas and has seen growing adoption for maritime, aviation, and emergency response uses. Revenue from Starlink has become an increasingly important diversifier from launch services, though heavy upfront investments in satellites and ground infrastructure continue to pressure near-term cash flows.
The company’s core Falcon 9 rocket business remains the workhorse of the commercial launch market, with a record cadence of missions supporting NASA cargo and crew flights to the International Space Station, as well as rideshares for numerous satellite operators. High reliability and competitive pricing have solidified SpaceX’s market leadership, generating steady cash flow that funds more speculative endeavors.
Post-IPO, analysts have offered a range of price targets. Optimistic projections cite potential for substantial revenue growth as Starlink scales toward profitability and Starship achieves operational status. Morgan Stanley’s Adam Jonas, for instance, has highlighted Starship reusability and Starlink momentum in an Overweight rating. More cautious voices point to elevated valuations, ongoing capital expenditures, and regulatory hurdles as risks that could pressure shares if milestones slip.
SpaceX’s entry into public markets has been closely watched as a bellwether for the space economy. Passive funds tracking indices, including the Nasdaq-100, have been required to purchase shares, generating billions in inflows and contributing to initial price support. However, active managers continue to debate appropriate multiples for a company whose financials reflect heavy investment in future infrastructure rather than mature, stable earnings.
Broader aerospace and defense sector dynamics have also influenced trading. Geopolitical tensions have underscored the strategic importance of reliable U.S. launch capacity, while commercial demand for satellite services grows with global connectivity needs. Yet macroeconomic factors, including interest rates and investor risk appetite, play into valuations for growth-oriented names like SpaceX.
The company’s leadership has emphasized long-term horizons. Rapid iteration and vertical integration — from engines to satellites — differentiate SpaceX from traditional aerospace players. Challenges include scaling production, navigating complex regulatory environments for launches and spectrum use, and managing workforce demands in a competitive talent market.
Looking ahead, key catalysts include additional Starship flight tests, Starlink subscriber growth metrics, and potential new contracts for crewed missions or national security launches. Any acceleration toward Starship’s operational cadence could significantly expand addressable markets, from lunar landings to interplanetary transport.
Investors should note the stock’s post-IPO behavior mirrors other transformative technology companies: initial euphoria followed by periods of digestion as fundamentals catch up to hype. The $150 range has emerged as a near-term trading band, with support and resistance levels watched closely by technical analysts.
SpaceX’s inclusion in major indices so soon after listing underscores its immediate weighting in portfolios. This passive demand provides a floor but also means future rebalancing flows could amplify moves in either direction.
For the wider space investment theme, SpaceX’s performance serves as a proxy. Related public companies in satellites, propulsion, and ground systems often move in sympathy. Tuesday’s pullback may reflect profit-taking after earlier gains or rotation out of high-valuation growth stocks amid mixed market signals.
The company continues to push boundaries. From recovering boosters on drone ships to deploying thousands of Starlink satellites, execution has been remarkable. Yet translating technological leadership into consistent, predictable financial performance remains the test for public market investors.
As trading progressed, the decline in SPCX shares highlighted the volatility inherent in a business reliant on complex engineering milestones and government approvals. With major tests on the horizon, volatility is likely to persist. Long-term believers see SpaceX as foundational to humanity’s multi-planetary future, a narrative that has driven its extraordinary private-market valuation and now public trading journey.
Market participants will monitor upcoming launch manifests and any updates from leadership on financial targets. In the meantime, the stock’s movement reflects the high stakes and high rewards of backing one of the most innovative companies in aerospace history.
The IPO has generated significant excitement in the grey market, where it is currently trading at a Grey Market Premium (GMP) of about Rs 166 per share. At this level, the stock is expected to list around Rs 585 per share, implying a potential gain of nearly 40% over the upper end of the IPO price band. The strong GMP reflects upbeat market sentiment and robust demand ahead of the company’s market debut.
The company has fixed the price band at Rs 398–419 per equity share. The public issue will remain open for subscription from July 8 to July 10, 2026.
The IPO is entirely an Offer for Sale (OFS) worth Rs 650 crore, meaning the company will not receive any proceeds from the issue as no fresh shares are being issued. Investors can apply for a minimum of 35 equity shares and in multiples of 35 thereafter. As of the offer date, Kusumgar has 104.99 million outstanding equity shares with a face value of Re 1 each.
The issue is being launched through the book-building process, with up to 50% of the net offer reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for Retail Individual Investors (RIIs).
In a gesture aimed at rewarding its workforce, Kusumgar has earmarked shares worth Rs 3.5 crore for eligible employees. They will also receive a discount of Rs 39 per share on the final issue price.
Kusumgar has demonstrated robust financial performance over the past two years. The company’s revenue from operations increased to Rs 692 crore in FY26, compared with Rs 467.9 crore in FY24, reflecting healthy business expansion across its key segments.
Its net profit also witnessed steady growth, rising to Rs 98.2 crore in FY26 from Rs 84.3 crore in FY24, highlighting improved profitability and operational efficiency.
Issue Management and Listing
The IPO is being managed by Axis Capital Limited, IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited, who are acting as the Book Running Lead Managers. Bigshare Services Private Limited is the registrar to the issue.
The company’s equity shares are proposed to be listed on both the BSE and the NSE.
About Kusumgar
Established in 1990, Kusumgar is a leading manufacturer of woven, coated, and laminated engineered synthetic fabrics designed for demanding industrial and performance applications. The company specializes in advanced fabric solutions based on polyamide and polyester filaments combined with polyurethane chemistry, enabling products that meet stringent performance standards.
Its engineered fabrics are designed to deliver superior tensile strength, tear resistance, abrasion resistance, comfort, air permeability, and waterproofing, making them suitable for mission-critical and high-performance applications.
Leveraging decades of manufacturing expertise and strong product development capabilities, the company has developed more than 1,000 unique Stock Keeping Units (SKUs) as of March 31, 2026. These products cater to a diverse range of industries, including aerospace and defence, industrial and automotive, and outdoor and lifestyle segments.
Kusumgar operates a vertically integrated manufacturing platform, encompassing preparatory processes, weaving, dyeing, printing, finishing, coating, lamination, and fabrication. Its manufacturing footprint includes six facilities in Gujarat and one fabrication unit in Uttar Pradesh, supported by modern infrastructure, advanced technology, and strong research and development capabilities.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Australian Property Alliance, formerly Nicheliving Real Estate, has been fined after mishandling a $50,000 deposit.
For many families, the summer holidays mean more than just eight weeks away from school. It can also mean a sharp rise in food costs.
Susan Lilley, a single mother of two who is training to become a classroom assistant, said the weekly shop has become one of her biggest financial worries.
During the Covid-19 pandemic, the families of 90,000 children eligible for free school meals received £27 per child each fortnight during school holidays.
They were axed by the Department of Education (DE) in March 2023 due to a lack of money, but a new bill introduced at Stormont could see holiday payments reinstated.
The then Permanent Secretary in Dr Mark Browne said axing the scheme was the most difficult decision he had to make.
Lilley, who received the grant during covid, said the support made a real difference.
Without it, she said she sometimes has to choose a less healthy, processed option for her children because it’s often cheaper than fresh foods.
“You want to have everything they need, everything that’s nutritious for them, but it’s impossible trying to get the quality of food, especially food and veg and protein, with the prices.
“My little girl would like strawberries and blackberries, but it’s a fortune, I was in this morning and I had to ask her to pick something else,” she continued.
“I can go and buy a 35p donut versus a £4.50 box of strawberries, but it won’t fill her the same, won’t give her the brain power for school. It will actually damage her more.”
She believes that politicians think people “will just manage”, but that “people aren’t managing”.
“Put your money where your mouth is. Children are our future. If they are being limited now how are they going to be the best they can be, to be productive and grow in to full, whole human beings and adults.”
“Nutrition affects them growing up, it can be a barrier to education.
“It’s important that everyone has access to healthy food, especially children.”
The new bill has been introduced in the assembly by Sinn Féin assembly member Danny Baker.
If it is passed, it would see the return of holiday food payments at an estimated annual cost of about £20m.
Children are eligible for free school meals if their family’s household income is below £15,390 a year.
Although UK food inflation has slowed, prices are continuing to rise, just at a slower rate.
Australian dock workers are demanding a 28-hour work week with no loss of pay as the use of artificial intelligence (AI) and automation expands across the country’s ports.
The AI push is being led by port logistics giant DP World, which the Maritime Union of Australia (MUA) said has put workers’ jobs “in the crosshairs”.
The union said: “If DP World wants AI and automation, then they must pay the social dividend. The new technology doesn’t have to cost our members their jobs or put their livelihoods at risk just so a terminal operator can boost profits.”
The BBC has contacted DP World for comment and the MUA for more details.
DP World, which is based in Dubai, is increasingly testing AI tools to manage employees and work schedules in its operations, according to a study by the Centre For International Corporate Tax Accountability and Research, which was commissioned by the MUA.
The automation programme is part of a pattern of pushing AI into operations “without genuine consultation” and that it threatens up to a thousand jobs or more than 60% of the dock and maintenance workforce, the study said.
The company has also proposed the use of AI-assisted remote-control cranes and driverless vehicles, it added.
The technology “should be used to improve workers’ lives, not destroy them,” the union said in a statement on 3 July as it called for a 28-hour work week.
DP World dock workers are believed to currently work around 32 to 35 hours a week, depending on their location, according to the Australian Financial Review, which first reported the negotiations.
DP World is one of the world’s largest port operators. In Australia, it moves millions of shipping containers each year through its ports in Sydney, Melbourne and other parts of the country.
With more than 126,000 employees around the world, the firm handles more than a tenth of global container traffic.
Business
Ex-FBI Agent Says Nancy Guthrie’s Kidnapper Was ‘an Amateur’ as Savannah Publicly Marks Five Months of Agony
TUCSON, Ariz. — A retired FBI hostage negotiator says he believes the person responsible for kidnapping Nancy Guthrie, the 84-year-old mother of “Today” show co-anchor Savannah Guthrie, is an inexperienced criminal rather than a hardened professional, pointing to a series of what he describes as rookie mistakes captured on the family’s home security footage.
Speaking to the Daily Mail, retired FBI special agent Chip Massey said the suspect’s behavior in doorbell camera footage from the night of Guthrie’s disappearance suggested a lack of criminal expertise. Massey pointed to the way the masked individual, who has become known online as “porch guy,” attempted to disguise his gait and height while approaching the home. “The way he tries to get lower to disguise his gait and height, how he tries to cover up the camera – that’s not something an experienced criminal would do,” Massey said.
Massey identified several additional details he said pointed toward an amateur perpetrator. He noted that the suspect’s gun holster appeared to be positioned incorrectly, saying it was worn in a manner that would leave the weapon vulnerable to being grabbed by someone else. He also said the suspect’s gloves appeared oversized, a detail he said would make it difficult to properly handle a firearm. Massey further pointed to the presence of blood found near the exit of Guthrie’s home as evidence that the abduction did not go as planned. “The fact blood was on the exit tells me there was a struggle inside,” he said. Taken together, Massey concluded the pattern of errors, along with the inconsistent handling of subsequent ransom communications, pointed away from a professional operation. “If he were a professional, that wouldn’t have happened, so that tells me he’s an amateur, as does the whole back and forth afterwards (with ransom notes) where they don’t provide proof of life,” Massey said.
Massey’s assessment adds to a long list of competing theories that have circulated throughout the five-month investigation. As CNN has reported, analysts and commentators following the case have offered widely divergent characterizations of the suspect over time, at various points describing the abduction as a robbery gone wrong, a ransom-motivated kidnapping, the work of a solo amateur, and the work of a sophisticated group, with some individual commentators even reversing their own assessments within a matter of weeks. President Donald Trump himself weighed in on the uncertainty earlier this year, telling reporters the suspect either “knew what they were doing very well, or they were rank amateurs.”
Massey is not the only investigator to speak publicly and critically about aspects of the case in recent days. Atlanta-based crime scene expert Sheryl McCollum has separately criticized the broader handling of the investigation, describing it as “botched” and pointing to what she characterized as a lack of coordinated public messaging between the Guthrie family and the law enforcement agencies involved. “You have not seen Savannah and her family on the same podium as the FBI and the Pima County Sheriff. They should have been standing together, making statements, from day one. And we haven’t seen that yet,” McCollum said, adding that “they’re not on the same page. It’s really sad to see this.”
The renewed scrutiny comes as the investigation passes a significant and painful milestone for the Guthrie family. In a statement provided to Arizona television station KOLD 13 News on July 1, Savannah Guthrie marked five months since her mother’s disappearance. “It is five months of agony and unending trauma for our family,” Guthrie said. “There is not a moment that goes by that we aren’t actively trying to find our mom.” She went on to thank the community of Tucson “for holding her in their hearts,” along with the FBI and the Pima County Sheriff’s Office “for their tireless work on behalf of our family,” closing her statement with the appeal, “Bring her home.”
Pima County Sheriff Chris Nanos also provided an update to KOLD 13 News around the same time, saying investigators continue to actively pursue the case, with particular focus on DNA evidence and genetic genealogy techniques that could help identify a suspect even without a direct database match. “Especially when you throw in genealogy—now, you’ve got… this may not be the bad guy, but this person might be the bad guy’s relative three times over,” Nanos said. According to the sheriff, responsibilities in the investigation have been divided between agencies, with the FBI handling the evaluation of ransom notes while his department focuses on forensic evidence processing, including ongoing DNA analysis being conducted with the assistance of outside laboratories and Google’s video analysis capabilities.
Guthrie was last seen alive around 9:45 p.m. on January 31, when a family member dropped her off at her Catalina Foothills home following dinner. She was reported missing the next morning after failing to appear for church, and investigators later determined she had been abducted from the residence overnight. Blood found near her front doorstep was subsequently confirmed to belong to Guthrie. Despite an extensive, multi-agency investigation involving the FBI, the Pima County Sheriff’s Department and search-and-rescue teams, no suspect has been publicly identified, and Guthrie has not been located.
The case has also been complicated by a series of ransom communications sent to media outlets and the Guthrie family, several of which the FBI has since determined were fraudulent. In early July, a California man pleaded guilty to federal charges connected to one such fake ransom message, marking the first criminal conviction directly tied to the flood of communications investigators have had to sort through since Guthrie’s disappearance. The FBI has said other notes remain under active investigation as potentially legitimate, though it has not disclosed further details about which communications fall into that category.
A combined reward exceeding $1 million remains available for information leading to Guthrie’s safe recovery. Authorities continue to urge anyone with relevant information to come forward through the Pima County Sheriff’s Department’s tip line or the FBI’s national tip line, as the investigation moves further into its sixth month without a confirmed suspect or resolution.
Tim Topham has worked with more goldminers in Western Australia than not across the 20 years his business has operated in this state.
Business
Will Trent shares rebound after Q1 update triggers 13% crash? Here’s what technical charts indicate
What lies ahead for Trent shares?
After the 13% crash, Trent shares have technically slipped below their 20-day EMA, while the RSI has witnessed a sharp downtick, signalling a shift in momentum from bullish to bearish, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. He added that the stock’s DI- has crossed above the DI+ on the ADX indicator, suggesting that sellers are gaining control over buyers. The Rs 3,120–3,130 zone is expected to act as an immediate resistance, and the stock is likely to remain under pressure as long as it trades below this zone, according to the analyst.
Taking a look at the longer picture, Harshal Dasani, Business Head at INVasset PMS, explained that Trent shares have seen a clear technical downtrend, falling around 50% from its 2024 peak near Rs 6,000 to the current Rs 2,967 zone. He noted that the structure is showing a well-defined series of lower highs and lower lows on the monthly candles.
Also read: Trent Q1 revenue rises 19% to Rs 5,666 crore as Westside, Zudio expansion continues
“The June rally to the Rs 3,400 zone was itself a lower high against the prior peak, and Tuesday’s 11% single-session break has invalidated even that short-term recovery attempt. The monthly RSI at 49.98 is the more telling data point. It has collapsed from a peak reading above 90 to just below 50, and every prior attempt to reclaim the 60 zone has failed, which is the classic footprint of a stock still working through a multi-quarter distribution phase rather than one in a corrective pause. Volume on the down-months has been visibly higher than volume on the up-months, confirming institutional distribution rather than accumulation,” the analyst explained.
“The technical read is that the Rs 2,780 to Rs 2,850 support becomes the first line of defence, and a decisive break below Rs 2,780 opens the path toward the Rs 2,400 zone on the monthly frame. The stance on the stock stays cautious until either the monthly RSI reclaims the 60 zone or the price prints a higher high above Rs 3,400 with volume confirmation,” Dasani added.
Trent’s stock crash is healthy valuation consolidation?
The recent correction in Trent’s share price represents a healthy valuation consolidation rather than structural decay, said Nishchal Jain, Quant Researcher at Share.Market by PhonePe. He added that the underlying investment thesis remains firmly intact, anchored by the hyper-scalable Zudio model and deep consumer trust, framing this market dip as a temporary realignment of explosive store network growth with near-term unit economics.
For market participants currently maintaining exposure, the prevailing sentiment shifts away from reactionary liquidation, Jain said which advising ‘Hold’ or ‘Accumulate on Dips’ stance. As the long-term investment framework remains structurally sound, seasoned investors may leverage this valuation breather as a strategic window to deepen exposure near key technical floors, he said.Conversely, for those awaiting an opening, the analyst believes that this retracement provides a long-awaited gateway into a high-conviction retail powerhouse. Nevertheless, a methodical ‘Staggered Buying’ tactical plan is essential to weather temporary price volatility and capitalize on the stock as it carves out a durable bottom, Jain concluded.
Also read: Rs 18,000 crore crash in Trent shares explained, and should you buy the dip
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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