U.S. stocks retreated from artificial-intelligence-fueled record highs on ​Friday, as spiking crude prices ignited global inflation fears.

All three major U.S. stock indexes veered lower as a jump in benchmark Treasury yields, reflecting surging energy prices and concerns about long-term inflation, offered an attractive alternative to higher-risk equities.

“There’s a realization that the market had gotten way ahead of itself,” said Kenny Polcari, ‌chief market strategist ⁠at Slatestone Wealth ⁠in Jupiter, Florida. “It wasn’t paying enough attention to what the bond market and economic data is telling it. It was caught up in this momentum AI trade.” Crude ​prices surged after combative comments from U.S. President Donald Trump and Iran’s Foreign Minister Abbas Araqchi raised doubts as to whether their countries’ fragile truce ​would hold and dampened hopes that normal traffic through the crucial Strait of Hormuz would soon resume. Trump’s meeting with Chinese President Xi Jinping concluded with few tangible results to show for it, with Beijing offering no clear help toward resolving the U.S.-Iran conflict.

“It certainly was ​encouraging to see both countries engaging again at the highest level. Historically, these type ⁠of events bring ‌about headlines outlining various commitments,” said Matthew Keator, managing partner at the Keator Group, a wealth management firm ​in Lenox, Massachusetts. “This week’s ​meeting seemed like more of a reset in relations between the two countries and less short-term, quantifiable ⁠results.”

The yield on 10-year Treasury notes, an indicator of global borrowing costs, touched its ​highest level since May 2025, when markets were reeling from Trump’s “Liberation Day” tariff proclamation. Global bond ​yields also jumped on growing evidence of the Iran war’s widespread economic damage.

END OF POWELL ERA
Friday marks Jerome Powell’s last day as U.S. Federal Reserve chair, a position he has held through the pandemic, periods of inflation, and interest rate hiking and cutting cycles.Incoming Chair Kevin Warsh is saddled with the potential need for a rate hike if a protracted Iran war leads to sticky inflation.

“The weakness today is highlighting the concerns that the recent (inflation) numbers aren’t transient, and it’s hard to envision the new chair communicating anything other than ‌a neutral policy stance at best until we see some consistent, meaningful change in the data,” Keator added.

The odds of the Fed hiking interest rates by 25 basis points in December are approaching 40%, up from ​13.6% a week ​ago, according to CME Group’s FedWatch tool.

According ⁠to preliminary data, the S&P 500 lost 91.62 points, or 1.22%, to end at 7,409.62 points, while the Nasdaq Composite lost 412.61 points, or 1.53%, to 26,226.35. The Dow Jones Industrial Average fell 537.35 points, or 1.06%, to 49,531.70.

The Philadelphia SE Semiconductor Index was dragged lower ​by stocks that have benefited from the AI hyperscaler phenomenon.

Nvidia, AMD and Intel ended the session sharply lower. Microsoft rose following the disclosure of a new position in the company taken by Bill Ackman’s hedge fund Pershing Square. Dexcom jumped after the medical device maker’s announcement that it will appoint two independent directors and revamp a board committee in collaboration with activist investor Elliott Investment Management.

Ford slid, retreating from a near 21% surge over the last two sessions on optimism over the automaker’s energy storage business.

The Indian government has approved the proposal for the listing and disinvestment of Mahanadi Coalfields Limited (MCL), paving the way for the coal producer’s potential stock market debut through an initial public offering (IPO).

According to an official communication, the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Coal had placed the proposal before the Alternative Mechanism (AM) after securing approvals from the boards of Coal India Limited (CIL) and MCL.

MCL, a wholly owned subsidiary of Coal India, is among India’s largest coal-producing companies with operations concentrated in Odisha. The listing would mark another major divestment initiative by the Centre as it seeks to deepen capital markets participation in state-run enterprises.

The AM has now cleared the proposal, allowing CIL to dilute its stake in MCL through an offer for sale (OFS) as part of the IPO and through additional tranches subsequently. The approval also allows MCL to raise fresh capital through issuance of equity shares during the IPO and later via follow-on public offers (FPOs), qualified institutional placements (QIPs) or other Sebi-approved routes.

The government said the disinvestment and fundraising exercises may be carried out either simultaneously or separately and could take place in multiple tranches. However, the total dilution under these mechanisms will be capped at reducing Coal India’s stake in MCL by up to 25%.

The proposed listing will remain subject to prevailing market conditions and completion of statutory and regulatory requirements.
One of Coal India’s subsidiaries, Central Mine Planning and Design Institute Ltd (CMPDI) was listed in March 2026 via an IPO route. Its IPO was a book built issue of Rs 1,841.45 crores and the issue is entirely an offer for sale of 10.71 crore shares. The public issue was launched at a price of Rs 172 per share. Its shares are currently trading at Rs 232.95 on the NSE.Meanwhile, Coal India shares ended at Rs 462.20, gaining by Rs 8.15 or 1.79% over the Thursday closing price.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Capital markets regulator Sebi and the Central Board of Direct Taxes have eased several PAN-related compliance requirements for foreign portfolio investors (FPIs) after concerns emerged over difficulties in onboarding under the previously notified income-tax rules.

In a statement issued on Friday, Sebi said CBDT has provided multiple clarifications to simplify the PAN allotment process for FPIs following stakeholder feedback on the new Income-tax Rules, 2026 and revised PAN application forms notified in March this year.

The issue had arisen after the updated PAN forms introduced additional mandatory fields including taxpayer identification number details, representative assessee information and compulsory mobile number disclosure requirements.

Foreign investors and market intermediaries had raised concerns that many of these requirements were difficult to comply with across multiple jurisdictions, potentially complicating the onboarding process for FPIs investing in Indian markets.

Sebi said it actively engaged with CBDT after receiving representations from stakeholders to ensure that the PAN issuance framework remained smooth and investor-friendly.

Under the revised clarifications, CBDT said the name of the authorised signatory mentioned in the Common Application Form (CAF) would be sufficient for the representative assessee or authorised representative field in PAN applications.
The tax department also clarified that the liability of the authorised signatory would remain limited only to the purpose of applying for PAN and that no supporting documents related to the authorised signatory or representative assessee would be required.CBDT further eased address and contact-related compliance requirements. According to the clarification, if details such as mobile number, landline number or email address of the authorised signatory are unavailable, FPIs may provide their own contact information instead.

In another relief measure, CBDT said that if PAN, Aadhaar or passport details of the authorised signatory are unavailable, the FPI registration number can be furnished in the application.

The tax authority also addressed concerns around taxpayer identification numbers for jurisdictions where such systems do not exist.

CBDT clarified that in cases where TIN or an equivalent number is not applicable, applicants may fill the field using the value “0000000000”. Additionally, if an FPI does not have a mobile number, it may provide a landline number instead while furnishing contact details.

Sebi said the latest measures are aimed at ensuring continued ease of onboarding for foreign portfolio investors.

FPIs currently use a single Common Application Form for multiple regulatory processes including Sebi registration, opening bank and demat accounts and obtaining PAN registration in India.

Follow

Q1: 2026-05-15 Earnings Summary

EPS of $0.02 misses by $0.04

 | Revenue of – misses by $7.34M

Lument Finance Trust, Inc. (LFT) Q1 2026 Earnings Call May 15, 2026 1:00 PM EDT

Company Participants

Andrew Tsang
James Flynn – CEO & Chairman of the Board
James Briggs – Chief Financial Officer
Greg Calvert – President

Advertisement

Conference Call Participants

Lee Zulch

Advertisement

Presentation

Operator

Good afternoon, and thank you for joining the Lument Finance Trust First Quarter 2026 Earnings Call. Today’s call is being recorded and will be made available via webcast on the company’s website.

I would now like to turn the call over to Andrew Tsang, with Investor Relations at Lument Investment Management. Please go ahead.

Advertisement

Andrew Tsang

Good afternoon, everyone. Thank you for joining our call to discuss Lument Finance Trust’s First Quarter 2026 Financial Results. With me on the call today are Jim Flynn, our CEO; Jim Briggs, our CFO; Greg Calvert, our President; and Zach Halpern, our Portfolio Manager.

This morning, we issued a press release to provide details on our recent financial results. We also provided a supplemental earnings presentation, which can be found on our website. We intend to file our 10-Q with the SEC this afternoon after market close.

Advertisement

Before handing the call over to Jim Flynn, I’d like to remind everyone that certain statements made during the course of this call are not based on historical information and may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties are discussed in the company’s reports filed with the SEC, in particular in the Risk Factors sections of our Form 10-K and Form 10-Qs. It is not possible to predict or identify

NEW YORK — Spotify has introduced a glittering new app icon featuring a green disco ball design to mark its 20th anniversary, triggering an immediate wave of viral reactions, nostalgia-filled celebrations and sharp criticism from users who prefer the platform’s iconic three-line logo.

The temporary redesign, which rolled out on iOS and is appearing for many Android users, transforms the classic Spotify emblem into a reflective disco ball while retaining the familiar soundwave lines. The change coincides with the launch of “Spotify 20: Your Party of the Year(s),” a major nostalgia campaign that includes personalized lifetime listening recaps, all-time top artists and songs, and 20 days of global music statistics.

Spotify’s design team described the disco ball as a playful celebration of two decades of music discovery and cultural moments. “At key moments, we adapt our logo to become an expression of culture,” the company said in its anniversary design history post. The icon pays homage to dance floors, parties and the joy of shared musical experiences that have defined the streaming era since Spotify’s founding in 2006.

Mixed User Reactions Flood Social Media

The new icon quickly became one of the most discussed topics online. Many users embraced the festive vibe, sharing screenshots alongside nostalgic posts about their first Spotify streams or favorite throwback songs. “This takes me back to the early days of discovering new music,” one user wrote on X. Others connected it to Taylor Swift’s “mirrorball,” Michael Jackson’s Off the Wall era or general 70s disco nostalgia.

However, a significant portion of the Spotify community expressed strong dislike. Comments ranging from “horrific” to “please change it back” flooded Reddit, Threads and the Spotify Community forums. Critics called the disco ball design cluttered, dated or overly gimmicky, arguing it sacrifices the clean minimalism that made the original logo instantly recognizable. Some users reported confusion when trying to locate the app on their home screens.

Design experts offered divided opinions. Supporters praised the temporary icon as a fun, culturally relevant twist that aligns with Spotify’s vibrant brand personality. Detractors argued that altering such a well-established logo risks diluting brand equity, even for a short campaign.

Spotify has not confirmed exactly how long the disco ball icon will remain, but early indications suggest it is tied specifically to the 20th anniversary celebrations and may revert afterward. Some users in iOS beta versions have already seen it switch back.

The Bigger Spotify 20 Campaign

The logo change is just one element of a broader anniversary push. Spotify is rolling out extensive user data features, including:

• Lifetime top artists and songs
• First song ever streamed
• Personalized “Your Party of the Year(s)” playlists
• Global all-time most-streamed tracks and artists

Taylor Swift continues to dominate many all-time charts, while the campaign highlights everything from breakup anthems to genre evolution over the past two decades. The initiative aims to strengthen emotional connections with users by turning their personal streaming history into shareable, reflective experiences.

Spotify’s Design Evolution

This is not the first time Spotify has refreshed its visual identity. The company has evolved its logo several times since 2006, moving from a more complex early design to the streamlined three-line icon that became globally recognized. The current anniversary update follows Spotify’s pattern of adapting its visual language for cultural moments, such as artist-specific Wrapped campaigns.

Design leads at Spotify emphasized that the disco ball version maintains core brand elements while injecting celebration. “We wanted something joyful that reflects two decades of parties, discoveries and shared soundtracks,” one designer noted in internal communications.

Business Context and User Engagement

The anniversary campaign arrives as Spotify continues expanding its user base beyond 600 million monthly active users. Features that boost time spent in the app and encourage sharing have proven effective for retention and growth. Early data suggests the new icon and nostalgia tools are driving higher engagement rates.

The move also highlights Spotify’s shift toward becoming more than just a music player — positioning itself as a cultural companion that chronicles users’ lives through sound. By giving subscribers a complete musical autobiography, the company deepens emotional ties in an increasingly competitive streaming landscape.

Industry Implications

Spotify’s bold visual experiment reflects broader trends in tech branding, where companies increasingly use temporary design changes for marketing moments. Similar tactics have been employed by brands like Google with its annual Doodles or Nike with limited-edition logos.

Competitors are watching closely. Apple Music and YouTube Music have ramped up their own personalization features, but none have matched Spotify’s scale of historical data visualization. The success or failure of the disco ball icon could influence how other platforms approach anniversary or milestone campaigns.

For users, the temporary change offers a fun conversation starter and a chance to reflect on how their musical tastes have evolved. Whether they love or loathe the new icon, the strong reactions demonstrate the deep connection people have with the platforms that soundtrack their lives.

As the 20th anniversary celebrations continue through the coming weeks, Spotify is expected to release more personalized insights and possibly additional visual surprises. The disco ball logo, divisive as it may be, has succeeded in one key goal: getting the entire internet talking about Spotify once again.

For better or worse, the green disco ball has become the defining visual of Spotify’s milestone year — a glittering reminder that even the most established brands are willing to take risks to stay culturally relevant. Whether it becomes a beloved temporary artifact or a design regret, it has already secured its place in Spotify’s rich visual history.

TUCSON, Ariz. — Pima County Sheriff Chris Nanos said Thursday that digital evidence has become the cornerstone of the investigation into Nancy Guthrie’s disappearance, revealing that investigators are painstakingly cataloging “thousands and thousands of videos” from doorbell cameras, traffic intersections and private security systems to build a comprehensive timeline of the 84-year-old’s final hours before she vanished from her Catalina Foothills home.

More than 100 days after Nancy Guthrie was last seen on January 31, the sheriff’s office is shifting its focus from active search efforts to a meticulous digital reconstruction of events. Nanos confirmed that footage captured on a Ring doorbell camera shows a masked individual approaching her residence around the time she returned home after a family dinner with her daughter Annie and son-in-law Tommaso Cioni. The sheriff described the video as one of several critical pieces in an ever-expanding digital map authorities are constructing.

“There’s thousands and thousands of videos out there from intersections and Ring cameras that we have to catalog,” Nanos told reporters. “We are making meticulous catalogs of digital evidence to identify patterns that may ultimately expose the culprit.”

The update marks a significant evolution in the high-profile case that has captivated national attention, largely due to Nancy’s connection to her daughter Savannah Guthrie, co-anchor of NBC’s “Today” show. While early weeks focused on physical searches of the surrounding desert areas, authorities now emphasize forensic analysis of electronic trails, including cell phone data, financial records and extensive video surveillance.

Massive Digital Evidence Review Underway

Investigators have collected footage from dozens of nearby homes, businesses and public roadways. Advanced software is being used to timestamp and cross-reference clips, creating a virtual timeline of movements in the Catalina Foothills neighborhood on the night of January 31 and the following morning. Blood evidence discovered inside Nancy’s home has also been sent for advanced DNA testing, with some results still pending.

Nanos stressed that the volume of material requires significant resources and time. “This is not a simple case,” he said. “We are dealing with a mountain of digital information that must be reviewed methodically to ensure nothing is missed.” The FBI continues to provide technical assistance, particularly in areas of cyber forensics and behavioral analysis.

A masked suspect seen on the doorbell footage remains a primary person of interest. Authorities have circulated the image widely but have not yet identified the individual. Early cryptocurrency ransom demands were investigated and dismissed as non-credible.

Family Cooperation and Cleared Relatives

Sheriff Nanos reiterated that Nancy’s family, including Savannah, Annie and Tommaso Cioni, have been fully cooperative and are not considered suspects. Cioni, who dropped Nancy off after dinner, has been cleared through polygraphs, vehicle forensics and extensive interviews. Despite this, online speculation and conspiracy theories continue to swirl, fueled in part by recent comments from celebrities like Khloé Kardashian.

The Guthrie family has offered a $1 million reward for information leading to Nancy’s safe return or the arrest of those responsible. Savannah Guthrie has made occasional public appeals while largely stepping back from her high-profile television role to focus on the family’s private grief.

Challenges in a Complex Investigation

The case presents unique difficulties. There was no immediate eyewitness to the abduction, and the crime scene showed signs of forced entry but limited physical evidence beyond the bloodstains. No ransom note or clear motive has emerged, leaving investigators to consider possibilities ranging from a targeted attack to a random home invasion gone wrong.

Nanos acknowledged the emotional weight on the family and the Tucson community. “Every day without answers is painful,” he said. “But we are making steady progress through technology and community tips.” The sheriff urged residents to continue submitting any relevant video or information, no matter how insignificant it may seem.

Celebrity Attention Keeps Pressure High

The case gained renewed national visibility after Khloé Kardashian discussed it on her podcast, expressing skepticism about the lack of breakthroughs and questioning whether all information had been released. Her comments generated millions of views and reignited online discussions, including conspiracy threads that law enforcement has repeatedly discouraged.

While celebrity interest can generate valuable tips, authorities warn that baseless speculation can complicate investigations and harm innocent parties. Former FBI agents following the case have urged the public to focus on verified facts and submit credible information through official channels.

What’s Next in the Investigation

With the case now firmly in the evidence-gathering phase, detectives are prioritizing digital forensics, witness follow-ups and advanced laboratory testing. Genetic genealogy techniques are being explored for unidentified DNA samples. The sheriff’s office continues to receive dozens of tips weekly, many of which require verification.

No timeline for resolution has been offered, but Nanos expressed quiet confidence that the combination of digital mapping, forensic advances and persistent public appeals will eventually yield results. “We are building a case that will hold up,” he said. “This investigation is very much active and ongoing.”

For the Guthrie family, the wait stretches into its fifth month. Friends describe them as resilient but deeply affected, clinging to hope while preparing for the possibility that answers may take time. Community vigils and ribbon campaigns in Tucson continue, serving as quiet reminders of a beloved local resident whose sudden disappearance has left a lasting void.

The Nancy Guthrie case stands as a sobering example of how modern investigations increasingly rely on digital breadcrumbs in an era of ubiquitous cameras and connected devices. As Sheriff Nanos and his team catalog thousands of videos and pursue every lead, the hope remains that this painstaking work will eventually bring closure to a family and a community still searching for answers more than 100 days after Nancy Guthrie walked through her front door for the last time.

Anyone with information is strongly encouraged to contact the Pima County Sheriff’s Department tip line or submit tips anonymously. The $1 million reward remains one of the largest in Arizona history, underscoring both the urgency and importance of this investigation. As digital evidence continues to be reviewed, authorities believe the key to solving this mystery may already exist in plain sight — captured on one of the thousands of cameras that blanket modern life.

Artificial-intelligence coding startup Cognition is expanding across Asia, looking to plug a “software deficit” with an automation tool it bets can lead to more hiring, not less.

The Peter Thiel-backed company, valued at over $10 billion after its most recent funding round, is active in one of the most competitive segments of the generative AI market: software coding.

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