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  • West Midlands people urged to ‘shop local’ and back small firms

    West Midlands people urged to ‘shop local’ and back small firms

    Handout Becky Forster is standing behind her That's Sew Becky stall which offers clothing and accessories. T-shirts and bags are laid out, all in bright colours. Ms Forster has dyed light green hair and is wearing a black woolly hat and smiling. The picture has been taken at an angle.Handout

    Becky Forster said the Small Business Saturday event was about backing “the little guy”

    People have been urged to shop local this weekend as Small Business Saturday shines a spotlight on small firms from artisan makers to family-run shops.

    As well as pop-up events, seasonal entertainment is offer on many of the region’s high streets in a bid to encourage shoppers to venture offline.

    One council said the aim was to have a “a lasting impact on small businesses” not just a short-term boost.

    Events this weekend follow a recent visit by Business Minister Blair McDougall, who acknowledged that small firms often faced different challenges to larger companies, but that the government was trying to help, with measures in the Budget targeting sectors such as hospitality.

    However recent increases in the national minimum wage and employers’ National Insurance contributions, as well as energy and food price rises have affected businesses big and small.

    Among the events this Saturday is one by Black Country Artisan Fairs, which will feature 36 artists and makers selling handmade goods at Wolverhampton’s Mander Centre.

    Organiser Becky Forster said the whole point was to “support the little guy”.

    Handout Dave and Sandra Hubble stand behind the Wyrdwood jewellery stall. They are wearing elf hats for Christmas and the stall is decorated with evergreens. Jewellery stands and boxes are laid out showing the items they have made.Handout

    Pop-up events allow local makers to sell their products without having the expense of a shop

    “Feedback from the shops and shoppers is always so positive. We bring people back to the high street,” she said, adding that pop-up events offered a platform for sellers who could not afford to run a shop because of business rates.

    Ms Forster has a stall named That’s Sew Becky, selling clothing and accessories, using leftover fabrics to cut down waste.

    Other traders include knitting and crochet makers, artists, a florist and a baker, and jewellery designers including fellow organiser Dave Hubble, who runs Wyrdwood with his wife Sandra.

    Success stories in the West Midlands include Elite Hampers in Telford, which was one of the 100 businesses promoted by the Small Business Saturday campaign this year.

    The campaign also highlighted Impressums Jewellery and occasionwear clothing company Diffuse Retail, both in Warwickshire, and Noah’s Art in Birmingham, which makes keepsakes and wedding decor.

    Jeevan Punj, who founded Elite Hampers gifting service, was at the House of Lords and Number 11 Downing Street to meet the Chancellor on Tuesday, as part of a Small Business Saturday event.

    She described how she started her career in healthcare as an optician, but, after a change of heart during the Covid pandemic, set up Elite Hampers in 2021.

    Handout Jeevan Punj stands at a stall displaying her hampers at a business event. She is wearing a green top and has a lanyard. Hampers containing food and drink are displayed on a table next to her. There are signs with information about her company.Handout

    Jeevan Punj is sending hampers to 10 small businesses on Saturday as gifts

    “I like to give, to make something and give it to somebody,” she said.

    One night she registered her business with Companies House and said she then had to work out what to do.

    ‘Imposter syndrome’

    Ms Punj said she got an alcohol licence and 5* food hygiene rating, and went on to create hampers that mostly contain food and drink, but, as bespoke gifts, can also include anything from pens to diaries.

    She said it was easy to get nervous and many small businesses had “imposter syndrome”, but she said: “You’re capable of so much more than you know.”

    On Saturday, she is sending hampers as gifts to 10 other small businesses.

    Her key message for Small Business Saturday was “try to support your local small business as much as possible, whether online or on the high street, because we want to help the economy and support local people”.

    Handout Annabel Cusack, wearing a grey apron, stands with a group of people who are creating their own pottery. The group are sitting with clay modelling items and one woman is reaching for some clay. The pottery studio has white walls and grey tiles and a stand in the window showing products that have been made.Handout

    Small businesses include a variety of sectors, from artists and designers to restaurants and bars

    Staffordshire County Council said small firms made up nearly 90% of companies in the area and were “vital” to the local and UK economy.

    Council deputy leader Martin Murray urged residents to go out and support local businesses, but added: “We’re also reminding small business owners of our extensive range of business support available right now.”

    Meanwhile, Visit Worcestershire said 78% of local enterprises employed fewer than five people and the county was “shaped by its micro-business community”.

    The tourism body has showcased a family-run pottery studio, Honeybourne Pottery, owned by Annabel and Alan Cusack in Honeybourne High Street, on the border of Worcestershire and Gloucestershire.

    Mr Cusack said Small Business Saturday “really helps put local makers on the map”.

    “It brings new faces into the studio and encourages people to try something hands-on, which is what we’re all about,” he said. “That support means the world to small businesses like ours.”

    Independent studios and small businesses gave character and life to communities, he added, and helped to keep villages and towns vibrant.

    “Every purchase, booking and visit makes a real difference to the people behind the business,” he said. “For us it’s about sharing our craft.”

    Getty Images Two woman are buying Christmas decorations and gifts at a market, surrounded by festive lights. One of the women is wearing a red coat and a green jumper, and the other woman has a cream jumper and a coat. The market is blurred in the background.Getty Images

    Christmas markets can be a good way of small firms reaching shoppers

    Business Minister Blair McDougall visited Stoke-on-Trent on Thursday, describing its “enormous economic potential”.

    He said there were a lot of issues facing small firms such as dealing with late payments from larger companies which he described as “crippling for a small business”.

    He also highlighted the importance of finance to help them grow.

    “For our part as government, we are trying to reform business rates and give more relief to people, you saw that in the budget with particularly additional help for hospitality businesses,” he said.

    However hospitality firms have also been disproportionately affected by consecutive rises in the national minimum wage.

    Other small businesses have said they wanted to see a cut in red tape as well as less tax.

    An office with five people sitting at computers, while two men in suits stand talking to the left

    Blair McDougal visited businesses in Stoke-on-Trent on Thursday

    Warwickshire County Council described small businesses as “the backbone of our communities”.

    Councillor Rob Howard said Small Business Saturday was a “fantastic opportunity to shine a spotlight” on them.

    On Saturday, a series of pop-up shops will open their doors in Rugby, while Warwick will have free parking, horse and carriage rides and a Christmas Fun Day showcasing 22 independent businesses.

    The Smith Street Christmas Market is also taking place in the city with local traders offering gifts, seasonal food and mulled wine.

    Tamworth Borough Council is offering free parking in council-run car parks on the three Saturdays before Christmas – on 6, 13 and 20 December.

    Councillor Nova Arkney said: “We hope to boost trade, attract more visitors and give people the opportunity to enjoy Tamworth’s fantastic festive atmosphere.”


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  • Fanuc (TSE:6954) Valuation After Nvidia Physical AI Robotics Deal and Recent Share Price Surge

    Fanuc (TSE:6954) Valuation After Nvidia Physical AI Robotics Deal and Recent Share Price Surge

    Fanuc (TSE:6954) just jumped nearly 13% after unveiling a collaboration with Nvidia to build industrial robots powered by physical AI, a move that immediately sharpened investor focus on its long term growth story.

    See our latest analysis for Fanuc.

    That surge has come on top of already strong momentum, with a 7 day share price return of 18.0% and a 90 day share price return of 44.3%. The 1 year total shareholder return of 52.4% signals investors are steadily warming to Fanuc as physical AI moves from concept to commercial reality.

    If this kind of AI driven robotics story has your attention, it could be a good moment to explore other high growth tech and AI names through high growth tech and AI stocks.

    But after such a sharp rerating and a share price now sitting above the average analyst target, is Fanuc still trading below its long term potential, or is the market already baking in years of physical AI growth?

    Fanuc last closed at ¥5,931, and its current valuation implies a rich price-to-earnings multiple of 35.2x, well above most Machinery peers.

    The price-to-earnings ratio compares what investors pay today with the company’s current earnings. It is a key yardstick for mature, profitable industrial names like Fanuc. A higher multiple usually signals that the market expects stronger or more resilient earnings than the average company in the same sector.

    In Fanuc’s case, earnings have grown faster than the broader Machinery industry over the past year and have compounded at roughly mid single digits over five years, with margins improving and earnings quality described as high. However, that earnings profile sits against forecasts for only mid single digit annual profit growth and a return on equity that is expected to remain in single digits, which is modest relative to what such an elevated multiple would normally imply. At the same time, our SWS DCF model flags that the current ¥5,931 share price is trading well above an estimated fair value of ¥3,707.35, indicating a substantial premium to the cash flows implied by those growth expectations.

    Compared to the Japanese Machinery industry average P/E of 12.6x and a peer average of 24x, Fanuc’s 35.2x stands out as significantly higher, suggesting investors are paying a steep premium for its role in physical AI and industrial automation. Versus an estimated fair price-to-earnings ratio of 25.2x, the current market multiple also sits notably above the level our fair ratio work indicates the stock could gravitate toward over time if sentiment or growth expectations cool.

    Explore the SWS fair ratio for Fanuc

    Result: Price-to-Earnings of 35.2x (OVERVALUED)

    However, slowing earnings growth or a reversal in physical AI enthusiasm could quickly pressure Fanuc’s premium valuation and compress its elevated multiples.

    Find out about the key risks to this Fanuc narrative.

    Our SWS DCF model paints a tougher picture, suggesting Fanuc is overvalued with a fair value estimate of ¥3,707.35 versus the current ¥5,931 share price. If cash flows do not accelerate meaningfully, today’s enthusiasm could leave late buyers exposed.

    Look into how the SWS DCF model arrives at its fair value.

    6954 Discounted Cash Flow as at Dec 2025

    Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Fanuc for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 906 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

    If you see the story differently or want to dig into the numbers yourself, you can build a custom view in minutes, Do it your way.

    A great starting point for your Fanuc research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.

    Do not stop at Fanuc. Use the Simply Wall Street Screener now to uncover focused opportunities that match your strategy before other investors catch on.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Companies discussed in this article include 6954.T.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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  • Reassessing Valuation After a 14% Year-to-Date Share Price Decline

    Reassessing Valuation After a 14% Year-to-Date Share Price Decline

    Marsh & McLennan Companies (MMC) has been drifting lower this year, with the stock down roughly 14% year to date despite steady revenue and earnings growth, which sets up an interesting valuation check.

    See our latest analysis for Marsh & McLennan Companies.

    With the latest share price around $181.82 and a 90 day share price return of about negative 11 percent, momentum has clearly cooled, even though the five year total shareholder return near 70 percent still points to a solid long term compounding story.

    If MMC’s recent wobble has you rethinking where you want steady compounding, it could be worth exploring fast growing stocks with high insider ownership for other ideas with strong alignment between management and shareholders.

    So with Marsh & McLennan still growing earnings while trading roughly 30 percent below some intrinsic estimates, are investors getting a quality compounder at a discount, or is the market already pricing in its future growth?

    Compared to the last close at $181.82, the most widely followed narrative sees Marsh & McLennan’s fair value materially higher, framing today’s pullback as an opportunity rather than a warning.

    Strategic investments in digital transformation, advanced analytics, and AI (e.g., proprietary data tools for risk modeling, agentic interfaces) are expected to enhance operational efficiency and improve product/service offerings, enabling margin expansion and net earnings growth through improved client retention and lower cost to serve.

    Read the complete narrative.

    Want to see what happens when steady mid single digit growth meets rising margins and a richer earnings multiple usually reserved for faster growing sectors? The narrative leans on a bold earnings trajectory, firmer profitability and a premium valuation years from now, all reverse engineered into today’s fair value. Curious how those assumptions stack up against the current softer property and casualty backdrop and slower consulting demand?

    Result: Fair Value of $212.35 (UNDERVALUED)

    Have a read of the narrative in full and understand what’s behind the forecasts.

    However, softer property and casualty pricing and weaker discretionary consulting demand could cap margins and derail the premium multiple implied in this narrative.

    Find out about the key risks to this Marsh & McLennan Companies narrative.

    On simple earnings maths, Marsh & McLennan looks much richer than its sector, trading on 21.6 times earnings versus 12.8 times for the US Insurance industry, and above a 14.8 times fair ratio the market could drift toward. Is that premium resilience, or valuation risk building?

    See what the numbers say about this price — find out in our valuation breakdown.

    NYSE:MMC PE Ratio as at Dec 2025

    If you are not convinced by this view, or would rather dig into the numbers yourself, you can build a custom narrative in under three minutes: Do it your way.

    A great starting point for your Marsh & McLennan Companies research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.

    Before you move on, lock in your next opportunity by using our screeners to uncover stocks that could refresh your watchlist and strengthen your portfolio.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Companies discussed in this article include MMC.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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  • Headwater Exploration (TSX:HWX) Valuation After 2026 Growth Plan, Dividend Commitment and Capital Discipline Update

    Headwater Exploration (TSX:HWX) Valuation After 2026 Growth Plan, Dividend Commitment and Capital Discipline Update

    Headwater Exploration (TSX:HWX) just laid out its initial 2026 game plan, targeting 8% production per share growth while funding a CA$0.44 dividend and still keeping exit working capital in the black.

    See our latest analysis for Headwater Exploration.

    The guidance has landed against a strong backdrop, with the share price now at CA$9.49 after a 30 day share price return of 26.53% and a five year total shareholder return of 383.28%. This suggests that momentum and confidence are building rather than fading.

    If this kind of disciplined growth story appeals to you, it could be a good moment to look beyond energy and discover fast growing stocks with high insider ownership.

    Yet with the shares already up sharply and trading only slightly below analyst targets despite an implied discount to intrinsic value, the key question now is whether Headwater is still mispriced or if the market has already priced in its next leg of growth.

    On a headline basis, Headwater Exploration trades at a 13.1x price to earnings ratio, which makes the stock look reasonably valued rather than obviously cheap.

    The price to earnings multiple compares the current share price to the company’s earnings per share, so it effectively captures what investors are willing to pay for each dollar of profit. For an oil and gas producer like Headwater, this is a core yardstick because earnings can swing with commodity prices, capital spending, and operating efficiency.

    Against that backdrop, the picture is mixed. Headwater screens as good value versus peers and the broader Canadian oil and gas industry, with its 13.1x multiple sitting below both the industry average 15.3x and the peer average 20.6x. However, that same 13.1x looks expensive when compared with the estimated fair price to earnings ratio of 10.1x, a level the market could migrate toward if sentiment or earnings expectations cool.

    Explore the SWS fair ratio for Headwater Exploration

    Result: Price-to-Earnings of 13.1x (ABOUT RIGHT)

    However, investors should watch for weaker earnings trends and a cooldown in oil prices, which could compress multiples and challenge the current growth narrative.

    Find out about the key risks to this Headwater Exploration narrative.

    While the 13.1x earnings multiple suggests Headwater is roughly fairly priced, our DCF model indicates a very different picture. It suggests fair value near CA$19.93, which is around 52% above the current CA$9.49 price. Is the market underestimating the cash flow runway here?

    Look into how the SWS DCF model arrives at its fair value.

    HWX Discounted Cash Flow as at Dec 2025

    Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Headwater Exploration for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 906 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

    If you see things differently or prefer to dive into the numbers yourself, you can build a fresh perspective in just a few minutes: Do it your way.

    A great starting point for your Headwater Exploration research is our analysis highlighting 1 key reward and 2 important warning signs that could impact your investment decision.

    Do not stop with one opportunity; use the Simply Wall Street Screener to uncover fresh, data driven stock ideas tailored to the way you like to invest.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Companies discussed in this article include HWX.TO.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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  • Scaling sustainable business operations with agentic AI

    Scaling sustainable business operations with agentic AI

    Facing tomorrow’s challenges today.

    To respond effectively to today’s uncertain business conditions, organizations need solutions to tackle current and future challenges, while continuing to drive innovation and competitiveness. Agentic artificial intelligence (AI) represents just such a solution. This advanced form of AI is focused on autonomous decision-making and action, promising greater benefits than traditional AI.

    In our latest point of view developed in collaboration with Microsoft, we lay out how agentic AI can help organizations reduce waste, optimize processes, and embed sustainability in operations at scale.

    A breakthrough in efficiency

    Agentic AI can actively drive better business outcomes, thanks to its ability to process information, learn across interactions, and act autonomously to achieve objectives. When implemented across end-to-end workflows, agentic AI enables better resource allocation, automated sustainability reporting, and real-time emissions tracking.

    By effectively leveraging these capabilities, organizations can promote resilience and optimize operations, while strengthening governance structures and social responsibility commitments.

    New sustainability ambitions

    Although organizations across sectors are eager to leverage the benefits of AI, they are concerned about its potential environmental impacts. However, agentic AI can actually strengthen organizations’ sustainability ambitions. Through better resource allocation, it can enable greater efficiency, productivity, and environmental performance. With key partnerships and a comprehensive human-AI framework, agentic AI can help organizations reimagine core operations, benefiting both business outcomes and the environment.

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  • Space weather in focus after Airbus fleet recall, experts raise questions about solar flare theory

    Space weather in focus after Airbus fleet recall, experts raise questions about solar flare theory

    Aerospace giant Airbus is recalling about half of its global fleet over a commercial plane’s sudden altitude drop, bringing into sharp focus the importance of space weather in flight safety, even as experts raise questions about the company’s…

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  • My cultural awakening: Jonathan Groff inspired me to overcome my stammer | Culture

    My cultural awakening: Jonathan Groff inspired me to overcome my stammer | Culture

    My first encounter with Broadway actor Jonathan Groff was innocuous. Stuck in the wilds of Donegal for two weeks as part of teacher training, I listened to Broadway musicals while the rest of the lads watched the Gaelic fixtures and got drunk. I…

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  • Science history: Female chemist initially barred from research helps helps develop drug for remarkable-but-short-lived recovery in children with leukemia — Dec. 6, 1954

    Science history: Female chemist initially barred from research helps helps develop drug for remarkable-but-short-lived recovery in children with leukemia — Dec. 6, 1954

    Milestone: Chemotherapy agent sends leukemia into remission

    Date: Dec. 6, 1954

    Where: Sloan Kettering Institute and Weill Cornell Medical College in New York

    Who: Gertrude Elion and colleagues

    In 1954, researchers described a new drug that sent…

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  • Microsoft quietly make big changes to its employee performance reviews, company has removed…

    Microsoft quietly make big changes to its employee performance reviews, company has removed…

    Microsoft has removed diversity and inclusion from mandatory employee performance reviews, a significant shift from its 2020 commitments. The company also won’t publish its annual diversity report this year, citing a move to more dynamic…

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  • Indian envoy reaffirms support for cyclone-hit Sri Lanka in meeting with corporate leaders

    Indian envoy reaffirms support for cyclone-hit Sri Lanka in meeting with corporate leaders

    Houses damaged by the overflowing Mahaweli River following Cyclone Ditwah, in Kandy, Sri Lanka
    | Photo Credit: Reuters

    Indian High…

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