Category: 3. Business

Black Friday is coming up and you are looking forward to saving some money on Christmas presents. There are lots of offers coming into your inbox so it is difficult to sift through them all but then you see a great bargain from your favourite clothes shop.

You follow the link from the email in the hope of bagging one of the few remaining jumpers you have had your eye on. The website looks identical to the one you have been on many times so you pay your money for the jumper via bank transfer and settle back, content that you have secured a bargain.

The jumper will never arrive, however, as you have fallen for one of the many scams that have caused Black Friday to be called Black Fraud Day by one expert.

This year Black Friday falls on 28 November, but discounts and offers are advertised by some retailers week in advance. The National Cyber Security Centre (NCSC) has warned people to be on their guard in the run up to the day, and to stop the minute a purchase appears suspicious.

The cybersecurity firm Darktrace says there has been a sharp rise in the number of malicious emails mentioning Black Friday through October, with most coming on the last day of the month.

Jonathon Ellison, the director for national resilience at the NCSC, adds: “This is … a time when cyber criminals seek to exploit our increased spending, using trusted brands, popular products, and current events to deceive people into clicking malicious links or sharing personal and financial information.”

The increased availability of artificial intelligence tools means criminals can create authentic-looking websites mimicking famous brands and potentially duping people into handing over money.

They may also create fake small businesses, says Adrian Ludwig of Tools for Humanity, a tech company.

“With AI, fraudsters can now create entire deceptive small-business identities, complete with faces, stories and photo-perfect shops in just minutes,” he says.

What the scam looks like

The offer may come via email or you may see it on social media, posted from an account which was created recently.

The Consumer group Which? says that unrealistically low prices which are inconsistent with other sites should be one of the first alerts.

When you click through you may find a website which is not fully developed. It may not have a privacy policy, a postage address or an “about us” page.

Instead of asking you to pay by credit or debit card, it will request a bank transfer, the preferred method of moving money by organised crime gangs. Website that ask for payment by cryptocurrency should also raise alarm bells.

The illegitimate site may also have an impersonated URL. “Scammers will turn John Lewis into J0hn Lewis (with a zero) … to trick rushed consumers,” said Nathaniel Jones of Darktrace.

There will often be an element of urgency to the sale – the site might say you only have a few minutes to secure the deal, or claim there are only a few items left in stock and that you should act immediately to secure one.

What to do

The NCSC advises anyone who receives an email they suspect is a scam to forward it to the Suspicious Email Reporting Service. Suspicious text messages should be sent to 7726.

If you become a victim of fraud and lose money to a scam, in the UK contact Action Fraud, the national reporting centre for fraud.

But mostly, be alert. If there is anything even remotely suspicious about a sale, stop and think. Try to use a credit card for payments, as in the UK many sales will be protected under the Consumer Credit Act 1974.

This article first appeared on GuruFocus.

Release Date: November 06, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• Pirelli & C SpA (PLLIF) reported organic revenue growth of 3.7% for the first nine months of 2025, driven by a strong commercial strategy in the high-value segment.

• The company maintained a high profitability margin of 16.1%, outperforming peers and demonstrating effective internal management.

• Pirelli’s technological leadership was reinforced through product innovation, including the development of the Cyberdyne technology, which received recognition for its innovation in smart mobility.

• The company has made significant strides in sustainability, with 100% of electricity for its plants sourced from renewables and a focus on eco-friendly products.

• Pirelli successfully reduced its debt by approximately 280 million year-on-year, showcasing effective financial management and cash generation.

• The macroeconomic environment remains volatile, with challenges such as geopolitical tensions, trade tariffs, and exchange rate fluctuations impacting operations.

• Pirelli faces a negative impact from US tariffs, with an estimated gross impact of 60 million for 2025, despite mitigation efforts.

• The company experienced a decline in standard tire sales, particularly in South America, due to increased competition from Chinese imports.

• Exchange rate depreciation negatively impacted financial results, with a 3.4% adverse effect on revenues.

• The automotive market remains uncertain, with volatility in original equipment demand and disruptions in the supply chain affecting future projections.

Q: How do you see the inventory levels overall and for high-value tires, and do you expect any softening in replacement demand? A: Unidentified_3: The stock levels are quite normalized globally. In Europe, due to the winter season, stock levels are high, which is normal. The market replacement in Q4 is expected to be positive, around 4-5% in high-value replacement, with good performance expected in China and Europe, depending on weather conditions.

Q: Are there plans for further efficiency improvements next year, and what impact do you expect from raw materials in 2026? A: Unidentified_3: We plan to continue our efficiency programs, focusing on automation, digitization, and electrification of factories. We expect a tailwind from raw materials, with an estimated benefit of 30-40 million concentrated in the first half of 2026.

Q: What is your perspective on competition from Asian tire manufacturers, particularly in the high-tech segment? A: Unidentified_3: Chinese tire makers are growing in volume and market share but are not affecting the high-tech segment. The technology gap remains significant, with limited presence in the premium segment. In the high-value segment, Pirelli remains well-protected.

Q: Can you provide insights into the governance situation and whether a stock-funded acquisition is being considered? A: Unidentified_2: No stock-funded acquisition is being considered. The government is negotiating to resolve governance issues, but no extraordinary transactions are on the table.

Q: How do you view the pricing environment in the US, and are there any imbalances in the sector? A: Unidentified_3: We are renegotiating commercial conditions in the US to mitigate duties impact, reviewing terms with carmakers and distributors. We do not perceive any significant imbalance in the sector and are managing challenges effectively.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

It’s been a good week for Deutsche Post AG (ETR:DHL) shareholders, because the company has just released its latest quarterly results, and the shares gained 8.1% to €43.01. Revenues were €20b, approximately in line with whatthe analysts expected, although statutory earnings per share (EPS) crushed expectations, coming in at €0.75, an impressive 24% ahead of estimates. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there’s been a strong change in the company’s prospects, or if it’s business as usual. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

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Following last week’s earnings report, Deutsche Post’s 14 analysts are forecasting 2026 revenues to be €85.5b, approximately in line with the last 12 months. Statutory earnings per share are predicted to increase 3.6% to €3.27. Yet prior to the latest earnings, the analysts had been anticipated revenues of €85.8b and earnings per share (EPS) of €3.24 in 2026. The consensus analysts don’t seem to have seen anything in these results that would have changed their view on the business, given there’s been no major change to their estimates.

View our latest analysis for Deutsche Post

There were no changes to revenue or earnings estimates or the price target of €42.81, suggesting that the company has met expectations in its recent result. The consensus price target is just an average of individual analyst targets, so – it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values Deutsche Post at €60.00 per share, while the most bearish prices it at €34.00. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. It’s pretty clear that there is an expectation that Deutsche Post’s revenue growth will slow down substantially, with revenues to the end of 2026 expected to display 1.4% growth on an annualised basis. This is compared to a historical growth rate of 3.2% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 3.8% annually. So it’s pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Deutsche Post.

The most important thing to take away is that there’s been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it’s tracking in line with expectations. Although our data does suggest that Deutsche Post’s revenue is expected to perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year’s earnings. We have estimates – from multiple Deutsche Post analysts – going out to 2027, and you can see them free on our platform here.

However, before you get too enthused, we’ve discovered 1 warning sign for Deutsche Post that you should be aware of.

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

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.

Zalando (XTRA:ZAL) caught the spotlight after revealing strong third-quarter sales growth, fueled by a mix of new business partnerships, the About You acquisition, and its recent five-year deal with the German Football Federation.

See our latest analysis for Zalando.

Following several bold moves, including its About You acquisition and a new CFO announcement, Zalando’s share price response has been turbulent, sliding 30.97% year-to-date despite a burst of trading momentum after Q3 results. Over the longer haul, the 1-year total shareholder return sits at -18.24%, and losses have piled up across three and five years. This hints that while the business is growing on paper, the market remains cautious on a sustained turnaround.

If Zalando’s shifting fortunes make you curious about what else might be on the rise, it could be the perfect moment to broaden your search and discover fast growing stocks with high insider ownership

So, with strong top-line growth but profits under pressure, has Zalando’s recent share price weakness set up an attractive entry point? Or are investors already factoring in all the potential for future gains?

Compared to Zalando’s last close price of €22.24, the most widely followed narrative assigns a much higher fair value. This consensus targets significant upside, capturing optimism surrounding operational changes and strategic growth bets.

The rollout of Zalando’s new AI-powered discovery feed and continued investment in personalized, curated shopping experiences are expected to increase user engagement, shopping frequency, and ultimately drive higher average order value and revenue per customer. This leverages broader consumer migration to mobile/online and personalization.

Read the complete narrative.

How can Zalando climb back? The full narrative teases the secret recipe: ambitious profit margin gains, major earnings leaps, and the kind of aggressive growth usually reserved for digital giants. Don’t miss which financial forecasts and future profit multiples drive this bullish valuation. See what’s powering the premium price target.

Result: Fair Value of €36.85 (UNDERVALUED)

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

However, muted consumer demand and intense competition across European markets could easily challenge these bullish growth projections for Zalando in the coming years.

Find out about the key risks to this Zalando narrative.

While analyst fair values point to upside, the current share price is 23.9 times earnings. This tops both the European Specialty Retail sector average of 19.4x and the estimated fair ratio of 22.3x. This suggests investors could be paying a premium for growth that may not materialize quickly. Does the market see something others are missing, or is there risk of a reset?

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

If the prevailing valuations or strategies do not quite match your own take, dig into the numbers and craft a personalized view. Your unique perspective is just a few clicks away. Do it your way

A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding Zalando.

Don’t wait for the perfect opportunity to pass you by. Take charge and see how other top picks can add new edge and potential to your strategy using these hand-picked ideas from Simply Wall St.

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 ZAL.DE.

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

• Earlier this month, Akamai Technologies announced strong third-quarter results, reporting US$1.05 billion in sales and a significant increase in net income, while also launching the Akamai Inference Cloud, an AI platform developed in partnership with NVIDIA to bring real-time edge AI capabilities closer to end users and devices.

• This rapid commercial adoption and technological advance into AI-powered services highlights a shift in Akamai’s business, positioning the company to address growing demand for distributed edge computing and intelligent security solutions.

• Now, we’ll look at what the launch of Akamai Inference Cloud means for Akamai’s long-term investment narrative and future growth potential.

Find companies with promising cash flow potential yet trading below their fair value.

To own Akamai Technologies shares today, you need to believe that the company’s accelerating pivot to edge-based, AI-powered cloud and security services can offset headwinds in its traditional delivery business and support long-term growth. The launch of Akamai Inference Cloud represents a meaningful short-term catalyst, fueling optimism for near-term revenue acceleration, while customer concentration remains the top risk as revenue realization is still tied closely to a few large contracts. This news does not fundamentally change the importance of landing and scaling key compute and security deals.

Among the latest announcements, Akamai’s launch of the Inference Cloud stands out, as it brings advanced, real-time AI capabilities to the edge and is already attracting production-ready customer interest across sectors like live video, recommendation engines, and smart digital agents. This rapid adoption could reinforce Akamai’s transition away from legacy delivery segments, strengthening the near-term outlook built around cloud infrastructure and security momentum.

However, despite the company’s recent gains, investors should be aware that revenue is still highly dependent on a small number of significant contracts and, if those ramp slower than anticipated…

Read the full narrative on Akamai Technologies (it’s free!)

Akamai Technologies is projected to reach $4.9 billion in revenue and $765.1 million in earnings by 2028. This outlook is based on a 6.1% annual revenue growth rate and reflects an increase in earnings of $340.5 million from the current $424.6 million.

Uncover how Akamai Technologies’ forecasts yield a $95.20 fair value, a 14% upside to its current price.

Simply Wall St Community members estimate Akamai’s fair value from US$66 to US$132, reflecting a broad spectrum of views from five independent analyses. The company’s current growth depends on customers migrating workloads to its new edge and AI platforms, highlighting why opinions about future returns can vary so widely.

Explore 5 other fair value estimates on Akamai Technologies – why the stock might be worth 21% less than the current price!

Disagree with existing narratives? Create your own in under 3 minutes – extraordinary investment returns rarely come from following the herd.

These stocks are moving-our analysis flagged them today. Act fast before the price catches up:

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 AKAM.

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

Nextracker (NXT) has just unveiled its NX Earth Truss foundation solution for the Australian solar market, supported by a grant from the Australian Renewable Energy Agency. This launch addresses challenging terrain issues that often slow down large-scale solar projects.

See our latest analysis for Nextracker.

Momentum in Nextracker shares has accelerated alongside its innovative Australian launch, with a rapid 26.4% share price return over the past month and an impressive 164.9% year-to-date gain. Investors are clearly responding to both the company’s new technology and the broader enthusiasm for scalable renewable infrastructure. This signals confidence in its growth prospects over both the short and long term.

If news like Nextracker’s expansion has you wondering where future growth will come from, take the opportunity to discover fast growing stocks with high insider ownership

But after such a dramatic run-up, is Nextracker’s current share price an attractive entry point? Or has the market already priced in all the potential upside from its ambitious expansion plans?

The most widely followed narrative places Nextracker’s fair value at $98.65, compared with a recent close of $104.63. This perspective considers both rapid earnings momentum and the sustainability of future returns as the main pieces of its valuation puzzle.

Strategic R&D expansion and partnerships reinforce Nextracker’s leadership in solar technology, positively impacting long-term revenue and growth. Strong demand and localized supply chain enhance competitive advantage, boosting U.S. market share and financial performance.

Read the complete narrative.

Curious how the narrative justifies such a premium? There is a tug-of-war between aggressive growth projections and pressure on profitability. Ready to see which assumption tips the scale?

Result: Fair Value of $98.65 (OVERVALUED)

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

However, ongoing uncertainties around tariffs and heavy reliance on the U.S. market could still challenge Nextracker’s growth trajectory if conditions worsen.

Find out about the key risks to this Nextracker narrative.

Looking through the lens of the market’s most-watched ratio, Nextracker trades at 26.9 times earnings. This is not only below the average for its industry at 29.9x, but also below a peer group average of 38x. Compared to a fair ratio of 34.2x, this signals Nextracker could see re-rating upside if current momentum continues. Does this relative value outweigh any concerns about future growth?

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

If you want to challenge these conclusions with your own analysis, you can dive in and build a personalized case for Nextracker in just a few minutes. Do it your way

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Nextracker.

Act now and find your edge with Simply Wall Street’s unique tools, which unlock trends, value, and opportunities you might otherwise miss in today’s fast-moving market.

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 NXT.

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

Northern Trust (NTRS) continues to draw interest, especially with its shares delivering a 27% total return over the past year. Investors are watching to see if recent momentum can be sustained as broader financial trends evolve.

See our latest analysis for Northern Trust.

Northern Trust’s 1-year total shareholder return of 27% stands out, with its share price now at $129.96 as momentum has clearly been building over recent months. The stock’s consistent upward movement suggests that investors are seeing renewed growth potential and perhaps reassessing the company’s long-term value, especially as the broader financial sector navigates a changing landscape.

If strong performance from names like Northern Trust has you curious about what else might be gathering steam, now is the perfect moment to broaden your scope and explore fast growing stocks with high insider ownership.

Yet with shares trading near recent highs and analysts’ price targets only a few dollars above current levels, investors have to wonder: is there still an opportunity here, or is the market already pricing in all the future growth?

Northern Trust’s most widely followed narrative suggests its fair value is $134.50, slightly ahead of the last close at $129.96. This close proximity hints at a market consensus that prices in moderate upside while balancing significant near-term and longer-term uncertainties.

Although recent growth in global wealth and institutional assets benefited Northern Trust’s AuM/AuA, the business remains highly exposed to low or volatile global interest rates. Any sustained decline is likely to weigh on net interest income and impair earnings momentum, especially given its reliance on spread income and current deposit mix trends.

Read the complete narrative.

Want insight on what is embedded in this narrative’s projected valuation? Discover the bold assumptions about profit margins, earnings, and future multiples that could make or break this fair value outlook. The full breakdown reveals the financial levers analysts are counting on. The real surprises lie in the future growth trajectory and margin shifts. Don’t miss the details that could shift sentiment next quarter.

Result: Fair Value of $134.50 (UNDERVALUED)

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

However, rapid growth in alternatives and ongoing automation could support earnings and margins. This may potentially challenge the more cautious consensus view on performance.

Find out about the key risks to this Northern Trust narrative.

While the current fair value narrative points to the stock being slightly undervalued, our SWS DCF model offers a more conservative outlook. Based on projected future cash flows, the DCF model values Northern Trust at $116.27. This is below today’s share price and implies overvaluation. Does this suggest optimism about future growth is running ahead of fundamentals?

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

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Northern Trust 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 874 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 have a different perspective or want to analyze the numbers your own way, it takes just a few minutes to craft a personalized view. Do it your way

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Northern Trust.

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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 NTRS.

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

AT&T (T) shares have traded mostly flat over the past week, as investors continue to weigh the company’s recent performance. The discussion now centers on how the current price might reflect expectations for growth and profitability in the future.

See our latest analysis for AT&T.

Even after sliding in recent months, AT&T’s overall trend this year remains positive. The company has seen a year-to-date share price return of 8.8% and a robust total shareholder return of 16.1% over the past year. Recent headlines and a stable price suggest investors are weighing AT&T’s growth prospects against ongoing industry risks, especially as the company continues to adapt in a fast-changing telecom landscape.

If you’re exploring stocks beyond telecom, this could be the perfect time to broaden your search and uncover fast growing stocks with high insider ownership

With shares trading at a notable discount to analyst price targets, the question remains: is AT&T undervalued at current levels, or is the market already factoring in all potential for future growth?

AT&T’s most widely followed narrative puts fair value at $30.99, well above the last close of $24.83. The rationale hinges on future expansion, margin gains, and multi-year earnings growth assumptions.

The push toward network convergence (fiber plus 5G) is yielding higher-value, lower-churn subscriber relationships, increasing ARPU and enhancing customer lifetime value, which supports sustainable improvements in net margins and earnings.

Read the complete narrative.

Curious what’s powering that nearly $31 fair value? The secret sauce is not just more customers, but longer-lasting, higher-value relationships and fatter margins. This financial mix could unlock significant long-term earnings growth. Want to know exactly what numbers fuel such a bold projection? The underlying calculations might surprise you.

Result: Fair Value of $30.99 (UNDERVALUED)

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

However, declining legacy business revenues and increased competition in wireless markets could pressure margins and challenge the optimism behind AT&T’s current narrative.

Find out about the key risks to this AT&T narrative.

If you want to dive deeper or put your own spin on AT&T’s story, you can dig through the numbers and craft a personalized narrative in just a few minutes. Do it your way

A great starting point for your AT&T research is our analysis highlighting 4 key rewards and 4 important warning signs that could impact your investment decision.

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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 T.

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

Photo Courtesy of: WorldCC

LONDON, Nov. 09, 2025 (GLOBE NEWSWIRE) — A new global report released today by Commerce & Contract Management Institute (CCM Institute) has found that up to 80 percent of organizations lack clear accountability for contracting performance, leaving businesses exposed to inefficiency and risk in a period of persistent uncertainty, and that organizations that have successfully made technological advances in their contracting processes, are significantly better equipped to navigate market uncertainty.

The report, titled Benchmark report 2025: The Race Is On – Navigating Uncertainty Through CCM Resilience, was produced in partnership with the World Commerce & Contracting (WorldCC), NCMA, and Sirion. It draws on global data from thousands of organizations across industries and regions to measure the maturity, capability, and resilience of contract and commercial management (CCM) functions.

According to the findings, 87 percent of organizations report operating under high and sustained levels of uncertainty, yet only a small proportion have established governance frameworks that clearly define responsibility for contracting outcomes. The absence of accountability, the report notes, continues to slow progress in operational performance, even as investment in digital tools and automation increases.

“This report is a clear mandate for immediate action,” said Sally Guyer, Chief Executive Officer of WorldCC. “For too long, organizations have treated commercial and contracting excellence as a complex, second-tier priority, and that has created a structural vulnerability we can no longer afford. The data is definitive: the organizations that will thrive in this ‘new normal’ are the ones who recognize that CCM is the catalyst for business resilience. We urge leaders to stop delaying this critical transformation and start addressing the foundational issues of accountability and leadership.”

The findings highlight a sharp decline in scepticism toward AI’s role in contracting, with over 80 percent expecting it to play a major role within the next two years. It underscores the accelerating presence and importance of AI in contracting. Beyond its established use in contract repositories, AI is increasingly being leveraged for contract creation and drafting, summary generation, and contract review. Obligation extraction has also emerged as a rapidly growing area of focus.

The benchmark highlights a growing divide between buy-side and sell-side organizations. Across all performance metrics, suppliers are outperforming buyers by more than 20%. This gap is attributed to differences in leadership alignment and organizational design, as well as levels of investment in full contract lifecycle technologies. While sell-side units tend to have clear commercial governance structures, buy-side teams are often fragmented, with many operating under procurement or finance functions that prioritize cost control over performance visibility.

The report also indicates that technology adoption alone is not closing the capability gap. The sell-side demonstrates a 37 percent technology advantage, averaging 8.41 digital capabilities per person compared with 6.52 on the buy-side. However, the data shows that digital systems deliver limited value without defined accountability and leadership oversight.

“Our research uncovers a fundamental governance failure,” said Tim Cummins, Executive Director of the CCM Institute. “When 70 to 80 percent of businesses lack a single point of clarity for contracting performance, it creates a system defined by inertia and risk. You cannot automate your way out of a governance crisis. The race for resilience will not be won by those who invest the most in new tools, but by those who first establish clear accountability, build adaptive leadership, and invest in the human talent needed for an AI-transformed future.”

The report identifies leadership, structure, and talent development as the key drivers of commercial resilience. Respondents citing high uncertainty ranked leadership quality (30 percent), unclear roles (27 percent), and organizational confusion (25–30 percent) among their most significant barriers to progress.

“Eighty-eight percent of enterprises now recognize that commercial and contract management excellence drives performance. The real question is: how do we turn that recognition into meaningful change?” said Ajay Agrawal, Founder and CEO of Sirion. “At Sirion, we see that evolution taking shape every day—as intelligence becomes part of the system itself, where data, context, and intent come together to guide every decision, every agreement, every action.”

The Benchmark Report 2025 concludes that while awareness of contracting’s strategic importance is high, structural change remains limited. The findings call for organizations to clarify ownership, strengthen leadership accountability, and align technology investments with measurable governance outcomes, much like the principles outlined in the Contract Management Standard (CMS). For leaders looking to close the accountability gap immediately, adopting the globally recognized CMS provides the necessary framework to establish this unified practice.

About the CCM Institute

The CCM Institute seeks to improve the world through higher standards in buying and selling. Its rigorous, practical research and insights, both relevant and useful, shape global policy and practice. The Institute helps society by driving up standards for the exchange of goods and services, resulting in better trading outcomes in both the private and public sectors. As a not-for-profit organization, it was founded and is supported by World Commerce & Contracting and NCMA.

About World Commerce & Contracting (WorldCC)

World Commerce & Contracting (WorldCC) is a global non-profit association dedicated to improving trading relationships and commercial effectiveness. With more than 80,000 members worldwide, WorldCC provides research, standards, training, and resources that enable organizations to achieve better commercial and contracting outcomes.

About Sirion

Sirion is the world’s leading AI-native CLM platform, pioneering the application of agentic AI to help enterprises transform the way they store, create, and manage contracts. By uniting an intuitive conversational experience with specialized AI agents, the platform has redefined enterprise contracting. The world’s most valuable brands trust Sirion to manage 7M+ contracts worth nearly $800B and relationships with 1M+ suppliers and customers in 100+ languages. For more information, visit www.sirion.ai.

About NCMA

The National Contract Management Association (NCMA) is the world’s leading professional association for contract management professionals. It provides certification, education, and research that elevate contracting standards and practices across industries and governments globally.

Contact Information

Kate Hodgins

Commerce & Contract Management Institute,

Email: info@ccm.institute

Website: https://ccm.institute/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/03b14c05-bcb4-47fd-b488-e7a2552d9a09

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Crypto investors worried about their tokens getting hacked are boosting demand for secure devices and wallets that keep customers’ tokens safely offline.

As hack attacks on companies and individuals have hit a record, Ledger, which sells hardware devices resembling USB drives that help investors securely store their cryptocurrencies, said it was having its best year yet.

Pascal Gauthier, chief executive of Ledger, founded in Paris in 2014, said revenues have hit triple-digit millions so far in 2025. “We’re being hacked more and more every day . . . hacking of your bank accounts, of your crypto, and it’s not going to get better next year and the year after that,” he told the Financial Times.

About $2.2bn worth of crypto was stolen in the first half of this year, according to data firm Chainalysis, more than was taken in the whole of 2024. About 23 per cent of hacks targeted individuals’ wallets, in what Chainalysis called an “increasingly significant” form of theft.

Hack attacks on both crypto companies and individuals are becoming increasingly common, especially as the price of bitcoin and other tokens has hit new record highs this year, propelled by Donald Trump championing the industry. North Korean hackers stole $1.5bn worth of crypto tokens from exchange Bybit in February, in the biggest heist ever. 

“As we’ve seen a record-setting year in lawful crypto activity, we’ve also seen a record-setting year in unlawful crypto activity,” said Ari Redbord, global head of policy at blockchain intelligence company TRM Labs.

The jump in demand for Ledger’s devices comes ahead of the boost the company typically gets from Black Friday and Christmas sales, and Gauthier said Ledger will fundraise probably next year.

Smartphones and computers have been designed for communication and entertainment, not security, he said, adding that the company’s growth is coming from “the realisation that hackers are getting more aggressive and so you need to upgrade your security”.

Other companies such as Czech Republic-based Trezor and Switzerland-based Tangem also offer so-called cold storage wallets, allowing crypto holders alternatives to holding their tokens directly on an exchange such as Coinbase or Binance.

Redbord added that digital asset holders are rightfully looking for ways to safely hold their assets, and as the crypto industry grows, “people are going to have more and more need for these devices”.

Ledger secures about $100bn worth of bitcoin for its customers, and was valued at $1.5bn in 2023 after raising money from investors including 10T Holdings and Singapore’s True Global Ventures. 

Gauthier is eyeing future fundraising, either a listing in New York, or a private round, and is boosting headcount in New York. “Me spending more time in New York is with the understanding that money is in New York today for crypto, it’s nowhere else in the world, it’s certainly not in Europe.”

Rising crypto prices has led to rising criminality around holders of the virtual currency. As well as crypto hacks, kidnappings are also prevalent as criminals try to physically seize traders’ funds. Ledger’s own co-founder and his wife were kidnapped in France earlier this year and criminals sought a ransom paid in crypto. The criminals were later arrested, and the funds traced and frozen. Chainalysis said that rising crypto prices will probably trigger “additional opportunistic physical attacks against known crypto holders”.