Category: 3. Business

  • EssilorLuxottica proposes taking stake of 5-10% in Armani, report says

    EssilorLuxottica proposes taking stake of 5-10% in Armani, report says

    MILAN, Nov 22 (Reuters) – Eyewear company EssilorLuxottica (ESLX.PA), opens new tab would be interested in taking a stake of between 5% and 10% in Armani but would not seek an active role in the management of the luxury fashion group, Italian business daily Il Sole 24 Ore reported on Saturday.
    A restructure of the famed fashion house is expected following the death of founder and owner Giorgio Armani in September.

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    EssilorLuxottica was named in Armani’s will alongside luxury conglomerate LVMH (LVMH.PA), opens new tab and L’Oreal (OREP.PA), opens new tab as priority potential buyers of an initial stake of up to 15% in the company.

    Citing unnamed sources, Il Sole said Franco-Italian company EssilorLuxottica had informed the Armani Foundation that it would be interested in becoming an investor but would seek a smaller stake and not ask for a seat on the board of Armani.

    There was no immediate comment from Armani or EssilorLuxottica, whose brands include Ray-Ban.

    Reporting by Keith Weir and Elisa Anzolin;
    Writing by Keith Weir; Editing by Emelia Sithole-Matarise

    Our Standards: The Thomson Reuters Trust Principles., opens new tab

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  • London tech expert explains why the internet blew up this week (temporarily)

    London tech expert explains why the internet blew up this week (temporarily)

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    The audio version of this article is generated by text-to-speech, a technology based on artificial intelligence.

    The widely used internet infrastructure provider Cloudflare suffered a major outage on Tuesday morning, temporarily disrupting numerous websites and apps, including ChatGPT, Spotify, and the social media platform X.

    The incident lasted several hours, and follows other major outages in recent months involving Microsoft’s Azure platform and Amazon Web Services (AWS).

    London-based tech analyst Carmi Levy spoke with London Morning host Andrew Brown on Thursday to explain what happened, and what concerns the incidents raise about the stability and security of the internet.

    The following has been edited for length and clarity.

    Andrew Brown: I’ve got to admit, I had never heard of Cloudflare. That probably says more about me than Cloudflare, but what does something like that do?

    Carmi Levy: This is a company that most of us wouldn’t deal with, in the same way most of us don’t deal directly with Amazon Web Services or Microsoft Azure. It’s a content delivery network service, and basically, what it does is it ensures that the websites that we visit every day stay up and running.

    So if you run a website, you would call Amazon or Microsoft or Google to host it for you, then you would call Cloudflare to make sure it’s secure, that it’s protected from those big distributed denial of service attacks that generate headlines every once in a while. It performs a pretty important role on the internet. It makes sure that when you visit a website, you’re a human, not a bot. Not someone or something that wants to take that website down.

    AB: So then, how does it connect to the cloud?

    CL: Cloudflare isn’t something we install on our computers, it’s something that exists only on the web. They have a data centre, they work with websites like ChatGPT, or X, or even IKEA and Spotify. Those companies subscribe to Cloudflare, and they do some technological magic in the background.

    For example, sometimes when you sign in to ChatGPT, you’ll notice you’ll get a little pop-up right at the beginning saying, ‘click this to prove that you’re a human.’ If you look closely at it, you’ll see there’s a Cloudflare logo on it … It just works quietly in the background. Most of us never pay attention to it, but you know, of course, when it fails, everybody’s looking.

    LISTEN | Explaining this week’s Cloudflare outage:

    London Morning7:13Do you know where your data is being stored?

    Earlier this week, a segment of the internet’s cloud storage was down, and the effects were felt by most online users. London technology analyst Carmi Levy explained the situation with cloud servers and the world of data storage.

    AB: What do we know about why it took a bunch of websites down earlier this week?

    CL: An estimated 20 per cent of all websites on the internet use Cloudflare services in one way (shape) or form. The interesting thing is that originally, they thought it was a cyberattack, and it quickly turned out not to be the case. Then they called it an “internal service degradation,” basically, “something broke. We don’t know what it is.”

    The co-founder and CEO, Matthew Prince … he said it had to do with their bot management system, that’s what protects websites against bot attacks. It uses an AI tool that creates what’s called a “feature file,” and that feature file, every time you connect to the site, it looks at that feature file and goes, “Are all these things good? Does it match? Can I legitimately allow this person onto the site?” That file updates every five minutes. Unfortunately, they made a change to the code, and that code resulted in this file getting larger and larger and larger. It wasn’t erasing old versions of itself, which means eventually it just crashed.

    AB: What does this say about the stability of the websites that we depend on?

    CL: It’s a lot more centralized than we thought it was. It doesn’t take much to bring it all down, because massive services like Cloudflare, Amazon Web Service, Microsoft Azure, they control most of the traffic on the internet. For example, with AWS, it was one server in one data centre in West Virginia, and it took down a huge chunk of the global Internet.

    AB: Do you have any ways that we could try to protect ourselves from that risk?

    CL: Our parents told us always put your eggs in more than one basket, and I think the same logic applies here. We can’t stop these outages from happening, these are massive, global-scale companies. But what we can do is we can ensure that if Service A is no longer available, then we have an option for Service B. For example, it could be that you have a second email address or account on a second platform … that way, you’ll always have a backup.

    When you’re thinking of where to store your data, don’t just assume it’s always going to be safe in the cloud. Make sure you have some of your data in the cloud, Google Photos, for example, but don’t forget to save them locally too. Put them on a hard drive. Make sure that it’s safe in your home or someone else’s home.

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  • Daily Mail owner strikes £500m deal to buy Telegraph titles | Telegraph Media Group

    Daily Mail owner strikes £500m deal to buy Telegraph titles | Telegraph Media Group

    The owner of the Daily Mail has struck a £500m deal to buy the Telegraph titles, in a move that will create a right-leaning publishing powerhouse.

    Lord Rothermere’s Daily Mail & General Trust (DMGT) has entered a period of exclusivity with RedBird IMI, which has been seeking a buyer since being forced to put the papers up for sale last Spring, to finalise the terms of the transaction.

    The two parties say that they expect this process to “happen quickly”, however the deal is likely to trigger an in-depth investigation by the UK competition regulator.

    DMGT, which owns a stable of titles including the Metro, the I and New Scientist, already handles the advertising contract for the Telegraph titles.

    The move comes barely a week after RedBird Capital, The US group led by Gerry Cardinale, pulled out of its own £500m deal to buy the titles.

    Lord Rothermere has long coveted taking control of the Telegraph titles, and had been in line to take around a 10% stake as part of the aborted RedBird Capital consortium deal.

    “I have long admired the Daily Telegraph,” said Rothermere. “My family and I have an enduring love of newspapers and for the journalists who make them. The Daily Telegraph is Britain’s largest and best quality broadsheet newspaper, and I have grown up respecting it. It has a remarkable history and has played a vital role in shaping Britain’s national debate over many decades.”

    It is understood that the Mail and Telegraph editorial teams will remain separate, and DMGT says that it will provide investment to pursue the titles’ goal of becoming a global brand.

    DMGT said that the deal would give “much-needed certainty” to Telegraph staff, who have been stuck in limbo over a sale process that has dragged on for more than two years.

    “DMGT and RedBird IMI have worked swiftly to reach the agreement announced today, which will shortly be submitted to the secretary of state,” said a spokesperson for RedBird IMI.

    RedBird Capital, the junior partner in the RedBird IMI, had stepped in after the government introduced rules banning foreign states from owning UK newspapers.

    IMI is controlled by Abu Dhabi’s Sheikh Mansour bin Zayed al-Nahyan, the vice-president of the United Arab Emirates and the owner of Manchester City FC.

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  • DVIDS – News – U.S., Qatar and allies enhance regional defense during Exercise Ferocious Falcon 6

    DVIDS – News – U.S., Qatar and allies enhance regional defense during Exercise Ferocious Falcon 6


    U.S., Qatar and allies enhance regional defense during Exercise Ferocious Falcon 6


    By:  Ninth Air Force (Air Forces Central) Public Affairs and Fifth Fleet (U.S. Naval Forces Central Command) Public Affairs

     

    AL UDEID AIR BASE and UMM AL-HOUL NAVAL STATION, Qatar (Nov. 22, 2025) – More than 1,300 military personnel from the U.S., Qatar, Italy, United Kingdom, Turkey and France participated in Exercise Ferocious Falcon 6, a biennial, Qatar-hosted multinational joint exercise, Nov. 16-20.

     

    “Exercise Ferocious Falcon 6 showcased our ability to operate as a unified, lethal and agile force against regional threats,” U.S. Navy Commander Joseph W. Hontz, U.S. Naval Forces Central spokesperson, said. “Our commanders and battle staff received valuable training on the critical aspects of planning and management and using integrated command and control systems for effective unified operations, in order to enhance our collective combat readiness while building crucial partnerships across air, land and sea domains throughout the Middle East.”

     

    Both U.S. air and naval assets participated in the multi-domain exercise, which included a Bomber Task Force integration to demonstrate global power and a stake in the region, as well as surface, air and expeditionary forces, who executed multiple field exercises and maritime drills.

     

    Ferocious Falcon 6 integrated cutting-edge technology and methodologies to address modern challenges. The exercise was an opportunity for information-sharing across warfare domains and exemplifies partner nations’ shared commitment to adapting collective defense strategies in order to safeguard and strengthen regional commitments.

     

    “This exercise is as much about building relationships as it is about tactics and operations,” U.S. Air Force Maj. Katrina J. Cheesman, U.S. Air Forces Central spokesperson, said. “By exercising our shared defense capabilities, the United States and its regional partners seek to sustain trust, stabilize the Middle East, and reinforce the principles of peace and cooperation fundamental to rules-based international order.”

     

    Designed to enhance lethality and combat efficiency among allied forces, Ferocious Falcon 6 further solidified the enduring partnership between the U.S., Qatar and its allies by focusing on interoperability, warfighting readiness and overall maritime security in the region. The exercise provided vital training opportunities for all participants to test collaborative techniques within the U.S. Central Command area of responsibility.

     

    Training opportunities encompassed a command post exercise to train on integrated command-and-control; combined field training exercises involving multiple nations’ land, air and naval forces; air interdiction, escort and defensive counter-air training; tactical combat casualty care cross training; and Visit, Board, Search, and Seizure rehearsals among partners.

     

    U.S. Air Force assets were comprised of F-16 Fighting Falcons, KC-135 Stratotankers and a B-52 Stratofortress, while U.S. Naval Forces assets included the Independence-class littoral combat ship USS Tulsa (LCS 16), the fast-response cutter USCGC Clarence Sutphin Jr. and one P-8A Poseidon maritime patrol and reconnaissance aircraft.

     

    Ferocious Falcon 6 aimed to advance the operational capabilities of participating forces, strengthen coordinated defense strategies, and expand capabilities in maritime security and infrastructure protection. The exercise has evolved over the years to become a cornerstone of U.S.-Qatar and allied security cooperation.







    Date Taken: 11.22.2025
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  • Teens charged after boy injured outside Filton McDonald’s

    Teens charged after boy injured outside Filton McDonald’s

    Three teenagers have been charged after a 17-year-old boy was injured outside a McDonald’s.

    The victim required hospital treatment after the altercation on Station Road in Filton, South Gloucestershire, shortly before 13:00 GMT on Tuesday. Police say his injuries are not believed to be life-threatening or life-changing

    Avon and Somerset Police charged two 16-year-olds and a 17-year-old with wounding with intent in relation to the incident.

    Insp Stephen Baines: “We hope this update provides reassurance to the community around the investigation so far.”

    The 17-year-old was further charged with possession of a knife/blade in a public place and the criminal damage of a mobile phone. He appeared at a magistrates court on Thursday where he was remanded in custody ahead of his next court hearing on 22 December.

    One of the 16-year-olds was also further charged with possession of a knife/blade in a public place.

    Insp Baines said officers had been carrying out patrols in the area and would “continue to be on hand to speak to anyone with concerns”.

    “It is important that no commentary or information is published, including on social media, that could prejudice these court proceedings,” he added.

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  • How Investors Are Reacting To Marriott International (MAR) Expanding Series Brand With Major India Launch

    How Investors Are Reacting To Marriott International (MAR) Expanding Series Brand With Major India Launch

    • Marriott International has globally debuted its new Series by Marriott brand, featuring the launch of The Fern Hotels & Resorts with 26 properties and over 1,900 rooms across key Indian destinations, expanding its portfolio as of November 2025.

    • This move signals Marriott’s focus on regionally inspired, sustainable hospitality and reinforces its commitment to growing in vibrant international markets beyond its traditional Western footprint.

    • We’ll examine how this large-scale India expansion under the Series by Marriott brand could reshape the company’s investment narrative.

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

    To invest in Marriott International, you need to believe that its global expansion and brand strength will continue driving long-term growth, with net rooms growth and rising fee revenues as the main near-term catalysts. The recent launch of Series by Marriott in India meaningfully supports these efforts, but does not materially alter the most prominent risk, the company’s ongoing reliance on conversions and mid-scale deals to maintain new room growth, which could become challenging if conversion activity slows or margins soften.

    Another announcement of interest is Marriott’s decision to end its licensing agreement with Sonder Holdings, which reduced the 2025 net rooms growth outlook to around 4.5%. This context makes the large-scale India debut of Series by Marriott even more relevant, as new markets can help offset potential pipeline headwinds and support overall growth targets.

    However, with global ambitions rising, investors should also be aware of the company’s exposure to regional economic and demographic volatility, particularly if RevPAR trends start to decline in…

    Read the full narrative on Marriott International (it’s free!)

    Marriott International’s outlook anticipates $29.5 billion in revenue and $3.6 billion in earnings by 2028. Achieving this would require 63.3% annual revenue growth and a $1.1 billion increase in earnings from the current $2.5 billion.

    Uncover how Marriott International’s forecasts yield a $289.79 fair value, in line with its current price.

    MAR Community Fair Values as at Nov 2025

    Five Simply Wall St Community members have submitted fair value estimates for Marriott, ranging from US$205 to US$289. Some estimates are well below the current price. As you weigh these differences, remember that global expansion efforts such as the Series by Marriott India launch could have wider implications for earnings growth and room pipeline stability across regions.

    Explore 5 other fair value estimates on Marriott International – why the stock might be worth as much as $289.79!

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

    Opportunities like this don’t last. These are today’s most promising picks. Check them out now:

    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 MAR.

    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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  • Beware buy now, pay later temptation on Black Friday, debt charities warn | Borrowing & debt

    Beware buy now, pay later temptation on Black Friday, debt charities warn | Borrowing & debt

    Black Friday bargain-hunters should be wary of the flood of “buy now, pay later” offers at the checkout, money experts have warned, amid record numbers of people seeking help with shopping debts.

    Billions of pounds will be spent online and in shops over the coming weeks, with more than one in three Britons said to be planning to use this form of credit to help stagger their Black Friday spending.

    But debt organisations and charities say shoppers should think very carefully before succumbing to the temptation of clicking on the buy now, pay later (BNPL) button.

    Citizens Advice said it was helping “more people than ever before” with BNPL-related problems. The charity added: “We urge people to take caution, especially if they are struggling with bills already.”

    Meanwhile, Money Wellness, an organisation that provides free money and debt advice, said last month had been a record month for people seeking help with BNPL debt, with another spike expected in January and February as festive spending feeds through.

    The number of shoppers turning to BNPL has increased steeply in recent years, with banking industry data showing the use of this type of credit rising from 14% to 25% of UK adults in the space of 12 months.

    The credit, which is common at online checkouts, and increasingly available at physical shops too, lets people spread payments for everything from dresses and trainers to concert tickets, takeaway pizzas and hotel rooms.

    Typically, the cost is split into three or four instalments, and if consumers keep up with their repayment plan they will not usually pay interest or charges. However, regulators and consumer bodies have long voiced worries that some people will end up taking out loans they cannot afford to pay back on time, thereby incurring charges, tipping them into debt and damaging their credit score.

    In the UK, more than 3 million customers missed payments in 2024, some of whom will have ended up being pursued by debt collectors.

    With the US-inspired Black Friday discount day on 28 November swiftly followed by Cyber Monday on 1 December and then a final burst of festive shopping, this is a bumper time of year for the BNPL industry, which in the UK is dominated by three brands: Klarna, Clearpay and PayPal.

    UK consumers will spend £6.4bn on Black Friday purchases this year – up slightly on the £6.3bn spent last year, according to a forecast from the accountancy firm PwC UK.

    The average transaction using BNPL is £114, according to the banking body UK Finance, with fashion – clothes, shoes and jewellery – accounting for almost half of all spending using this form of credit last year.

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    Jane Parsons , at Citizens Advice, said it had shifted from a niche payment option to “a quick solution for people wanting to bag the latest bargains,” but it was still a form of credit, and using it “could still deal a heavy blow to your budget, with little protection if things go wrong”.

    While BNPL is often interest-free, “it’s certainly not risk-free”, said Vikki Brownridge at StepChange.

    For some shoppers, “juggling multiple BNPL payments alongside rent, bills and other debts can quickly become overwhelming”, said Sebrina McCullough at Money Wellness.

    She added: “A major issue is having multiple lines of BNPL credit with different payment dates throughout the month, which makes it hard to budget and easy to lose track. Missed or late payments often come with fees, and debt can spiral before people realise.”

    The Financial Conduct Authority will start regulating BNPL on 15 July 2026, which could require lenders to carry out affordability checks on even the smallest loans, so this will be the last Black Friday and Christmas when shoppers will not be protected by consumer legislation. From that date, BNPL loans will become regulated credit agreements.

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  • Evaluating Procter & Gamble After Recent 2.2% Stock Gain and Growth Expectations

    Evaluating Procter & Gamble After Recent 2.2% Stock Gain and Growth Expectations

    • Ever wondered if Procter & Gamble stock is a hidden gem or already priced for perfection? Let’s break down whether there’s value hiding beneath the surface for thoughtful investors like you.

    • The stock just gained 2.2% in the past week, although it’s still down 0.8% this month and has slipped 9.1% year-to-date, hinting at shifting expectations and perhaps new opportunities or risks.

    • Market chatter has centered on Procter & Gamble’s expansion in emerging markets and its commitment to sustainability. Both of these factors have caught investors’ eyes recently, adding buzz and possibly some uncertainty about what’s next for the company.

    • Right now, Procter & Gamble has a valuation score of 2 out of 6. This means it screens as undervalued on just two checks out of a possible six, so there’s certainly more to uncover. We’ll explore how this score stacks up using classic valuation approaches, and at the end, I’ll show you a smarter way to think about value beyond the usual metrics.

    Procter & Gamble scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.

    A Discounted Cash Flow (DCF) model estimates a company’s intrinsic value by projecting its future cash flows and then discounting those amounts back to today’s dollars. This method provides insight into what the business may be worth, based on the money it is likely to generate in the coming years.

    For Procter & Gamble, the current Free Cash Flow stands at $15.4 Billion. Analysts forecast steady growth in these cash flows, projecting they will reach about $21.4 Billion in 2035. Notably, analysts have only made explicit forecasts through 2028 (with 2028 FCF projected at $17.0 Billion). Later years are based on cautious, methodical extrapolations. All figures are in US dollars.

    By discounting each year’s expected cash flows back to a present value, the DCF model calculates Procter & Gamble’s intrinsic value at about $185.05 per share. This is roughly 18.4% higher than the current trading price. This suggests that the stock is presently undervalued based on these long-term cash flow expectations.

    Result: UNDERVALUED

    Our Discounted Cash Flow (DCF) analysis suggests Procter & Gamble is undervalued by 18.4%. Track this in your watchlist or portfolio, or discover 917 more undervalued stocks based on cash flows.

    PG Discounted Cash Flow as at Nov 2025

    Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Procter & Gamble.

    The Price-to-Earnings (PE) ratio is a primary valuation tool for profitable companies like Procter & Gamble. It shows investors how much the market is willing to pay for each dollar of the company’s earnings, making it a quick way to assess whether a stock is trading at a premium or discount relative to its profits.

    A fair PE ratio depends on factors such as expected company growth and the perceived risk of its future. Higher earnings growth and lower risk tend to support a higher PE ratio, while greater uncertainty or slower growth usually warrant a lower ratio.

    Currently, Procter & Gamble trades at a PE ratio of 21.4x. This is above the Household Products industry average of 17.6x, and just slightly above the peer average of 20.5x. Although comparisons like these can be helpful, they do not always provide the full picture because each company has unique growth rates, risks, and profitability profiles.

    Simply Wall St’s “Fair Ratio” is a proprietary metric that estimates the PE you might expect for Procter & Gamble when considering its earnings growth, industry, profit margins, risks, and market cap. Instead of relying solely on averages, the Fair Ratio evaluates both the company and its environment for a more tailored benchmark.

    With a Fair Ratio of 25.8x compared to the actual 21.4x multiple, Procter & Gamble appears undervalued according to this more comprehensive approach.

    Result: UNDERVALUED

    NYSE:PG PE Ratio as at Nov 2025
    NYSE:PG PE Ratio as at Nov 2025

    PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1422 companies where insiders are betting big on explosive growth.

    Earlier we mentioned that there’s an even better way to understand valuation, so let’s introduce you to Narratives. A Narrative is a simplified framework allowing investors to build and share their own story or perspective about a company like Procter & Gamble. This approach connects the company’s business fundamentals to future estimates and ultimately to a fair value. Instead of just crunching numbers, Narratives let you combine your assumptions about revenues, earnings growth, and margins with your take on what really drives the business. This makes the investment process more personal and insightful.

    Narratives are available to everyone on Simply Wall St’s Community page and are already used by millions of investors. They streamline the decision process by showing how your unique outlook translates into a financial forecast and a fair value estimate. You can then compare that fair value with the current market price to decide if it’s time to buy or sell. Narratives aren’t static, either. When big news or earnings updates come in, these stories and their valuations automatically adjust, so your perspective stays relevant in real time.

    For example, one investor’s Narrative for Procter & Gamble might forecast slow growth and margin pressure, leading to a low fair value estimate of $105. Another could anticipate robust innovation and buybacks, supporting a high target like $186. Narratives empower you to turn your own informed view into actionable insight.

    For Procter & Gamble, we will make it easy for you with previews of two leading Procter & Gamble Narratives:

    🐂 Procter & Gamble Bull Case

    Fair value estimate: $169.05

    Currently 10.8% undervalued compared to last close ($150.92)

    Projected revenue growth: 3.2%

    • Analyst consensus expects steady revenue growth, margin improvement, and robust earnings by 2028, supporting a fair valuation above the current market price.

    • Growth drivers include product innovation, cost efficiencies, share repurchases, and expanding presence in various consumer segments.

    • Risks include volatility in core markets, geopolitical tensions, tariffs, and currency fluctuations, all of which could impact revenue and margins if not addressed.

    🐻 Procter & Gamble Bear Case

    Fair value estimate: $119.81

    Currently 26% overvalued compared to last close ($150.92)

    Projected revenue growth: 4.7%

    • Despite strong brand strength and operational efficiency, future growth is expected to remain modest and align with inflation, causing limited upside.

    • Valuation methods such as DCF, dividend models, and historical comparisons all point towards a current trading price above estimated fair value, suggesting the stock is richly valued.

    • P&G remains a high-quality, stable dividend payer, but investors may need to be cautious about buying at current prices unless fundamental growth or margin expansion accelerates.

    Do you think there’s more to the story for Procter & Gamble? Head over to our Community to see what others are saying!

    NYSE:PG Community Fair Values as at Nov 2025
    NYSE:PG Community Fair Values as at Nov 2025

    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 PG.

    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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  • Greenwich tenants had to urinate in bath when left with no loo

    Greenwich tenants had to urinate in bath when left with no loo

    Residents of a shared property in south-east London had to urinate in a bath or use the lavatories at a nearby furniture superstore for 58 days because their landlord did not fix a broken toilet, a tribunal has heard.

    The five tenants also had to put up with a faulty ventilation system that was so noisy it kept them awake at night and caused mould.

    They applied for rent repayment accusing the landlords of not holding the correct licence to run the Greenwich property and were given £5,300 back.

    The landlord accepted they were unlicensed and said it was due to the co-landlord’s memory loss which they had experienced since suffering a “severe brain injury” in 2021.

    The owners of the four-bedroom maisonette on Woolwich Road required a special licence as the property was a House in Multiple Occupation (HMO), meaning the home was shared by at least three people sharing the same kitchen and bathroom.

    The landlord told the tribunal that she had lost a letter from Greenwich Council which outlined updates to the council’s licensing policy, the Local Democracy Reporting Service reported.

    The tribunal’s impression was that both landlords’ understanding of the licensing regime was limited and “they had no real understanding of the nature of mandatory licensing”.

    The tribunal acknowledged the landlord’s health situation, but ruled they should have been aware of the need for HMO licensing as they owned and managed other HMO properties.

    One of the residents admitted to breaking the lavatory bowl in October 2023. The landlords accepted responsibility for the repair, but it was not carried out for 58 days, the tribunal heard.

    The landlords said they thought the faulty ventilation system served the whole block, but after finding out this was not the case a specialist company was contacted to have the system checked and repaired.

    The system was found to be operating at 50 per cent efficiency and vent openings within the flat were “seriously affected by mould”, according to a report from the proceedings.

    Considering the licensing, disrepair and other issues, the tribunal calculated the Rent Repayment Order to be 40 per cent of the maximum possible figure of £13,229. This was rounded to £5,300.

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