Procter & Gamble Co.‘s net income fell 49% in its fiscal second quarter, hobbled by higher materials costs and a writedown in the value of some of its businesses. P&G also lowered its earnings predictions for the year. Moreover, P&G said it will start rolling back some prices to counter moves by rivals. The company wouldn’t offer specifics, but did reference a rollback on its Cascade brand in North America as an example. Net income fell to $...