Let $A$ be a Banach algebra and $\phi$ a multiplicative functional on $A$ such that $\phi(x)\in \sigma(x)$ for each $x \in A$.
Now for each $x \in A$, define $\tau_x(\lambda):=\phi(\lambda\textbf{1}-x)$. Assume that $\tau_x(\lambda)$ is entire.
The paper then mentions the following:
Observe that, by spectral translation, we have that $$\tau_x(\lambda) - \lambda \in \sigma(-x)$$ for each $\lambda \in \mathbb{C}.$
I am trying to convince myself why this is true.
How does this follow from the fact that $\phi(x) \in \sigma(x)$?
I know that this means that $\tau_x(\lambda) \in \sigma(\lambda\textbf{1}-x)$, but how do I use this to obtain that $\tau_x(\lambda) - \lambda \in \sigma(-x)$?
Presumably $A$ is an algebra with unit. A nonzero multiplicative linear functional $\phi$ satisfies $\phi(x)\in\sigma(x)$ for all $x\in A$ and $\lambda\in \sigma(x)$ iff there is such a multiplicative functional such that $\lambda=\phi(x)$. In your notation, $\tau_x(\lambda):=\phi(\lambda \mathbf{1} -x)\in \sigma(\lambda\mathbf{1}-x)$. This means that $$\tau_x(\lambda)\mathbf{1}-(\lambda\mathbf{1}-x)=(\tau_x(\lambda)-\lambda)\mathbf{1}+x=\phi(-x)\mathbf{1}-(-x)$$ is not invertible; hence $\tau_x(\lambda)-\lambda\in\sigma(-x)$.