S&P Global Inc. reports company news across data, benchmarks and analytics for capital, commodity and automotive markets. Coverage includes its credit ratings and market intelligence businesses, S&P Global Energy and Platts price assessments, and S&P Global Mobility products such as CARFAX vehicle history reports, listings, car care tools and recall data.
Recurring updates also include investor conference appearances, product and data launches, board and governance changes, and corporate-status developments involving the Mobility division.
The recently released 2022 Electric, Natural Gas and Water Utilities Outlook Report by S&P Global Market Intelligence predicts a record year for renewable energy in the U.S., with plans for 44 GW of solar and 27 GW of wind power installations, along with over 8 GW of battery storage. Utilities are expected to spend $63 billion on infrastructure and over $14 billion on renewables. However, early retirement of coal plants may present challenges, and utility ROEs have fallen to record lows. The report indicates ongoing trends in renewable energy, grid transformation, and capital expenditure.
Orion Office REIT will replace Daktronics in the S&P SmallCap 600, effective November 16, 2021. This change follows Realty Income Corp.'s spinoff of Orion Office REIT, expected to complete on November 15, 2021. Daktronics is deemed unrepresentative of the small-cap market space. The shift indicates a restructuring within the index, impacting investor sentiment and market positioning. Keep an eye on the performance of ONL and DAKT stocks post these changes.
S&P Global Ratings announced that the Columbus Metropolitan Housing Authority's Series 2021A and B Revenue Bonds comply with the Social Bond Principles. The authority commits to using bond proceeds for an affordable housing project, integrating environmental and social considerations in its evaluation process. CMHA offers over 4,500 affordable housing units and assists over 250,000 residents in Ohio and Washington, D.C., promoting essential services like employment and health programs. The full Second Party Opinion is available here.
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On November 9, 2021, S&P Global Market Intelligence released its 2022 Insurance Industry Outlook Report, highlighting the need for insurance companies to adapt to significant changes in the economic and competitive landscape. Key themes include emerging risks from economic inflation, the growing importance of reinsurance in life insurance, and the digital transformation of underwriting and distribution. The report predicts increased mergers and acquisitions, particularly in Asia, as established insurers respond to evolving market dynamics and technological advancements.
S&P Global Ratings highlights the potential of natural capital accounting to promote sustainable farming and combat global deforestation. A study focusing on Brazilian Amazon beef production estimates the cost of nature loss at US$4 billion in 2020, impacting 12% of beef processors' revenues. By valuing ecosystem services, S&P suggests that pricing nature could incentivize forest-friendly practices. The report reveals US$4,741 in annual ecosystem service value per hectare of standing Amazon forest, advocating for integrated nature assessments in economic evaluations.
The 2022 Banking Industry Outlook Report from S&P Global Market Intelligence highlights the impact of government relief efforts during the COVID-19 pandemic on U.S. banks. Excess liquidity created by these initiatives is forecasted to stay above $2.9 trillion through 2023, leading to bank margins remaining below pre-pandemic levels. The report indicates a surge in M&A activity and digital adoption, with 3,609 branch closures in 2021. Despite these challenges, the report notes a strategic shift towards technology investments and scale to compete with fintechs.
FiscalNote Holdings has announced a definitive agreement to merge with Duddell Street Acquisition Corp (DSAC) to become publicly traded on Nasdaq under the ticker 'NOTE'. The combined entity will have a pro forma market capitalization of approximately $1.3 billion. FiscalNote employs advanced AI and machine learning technologies to provide regulatory insights and data to over 3,000 clients including major companies and government entities. The deal is expected to close in Q1 2022, with pro forma revenue estimates and significant growth opportunities in the evolving regulatory landscape.
The 2022 Metals and Mining Outlook from S&P Global Market Intelligence predicts continued recovery in the metals sector into 2022, driven by factors like pent-up consumer demand and government stimulus. Demand growth is expected to keep prices above historical averages through 2025, despite a potential moderation in 2022 due to easing supply constraints. Exploration budgets are projected to increase by up to 15% in 2022, though still below the 2012 peak of $20.5 billion. Key trends include rising copper demand from renewable energy and electric vehicles, alongside potential iron ore price volatility.
Loyalty Ventures (LYLT) will replace Applied Optoelectronics (AAOI) in the S&P SmallCap 600 index, effective November 9, 2021. This change follows the spinoff of Loyalty Ventures from Alliance Data Systems (ADS), set for completion on November 8. The decision reflects that Applied Optoelectronics no longer represents the small-cap market. This transition impacts the index's composition, emphasizing the dynamic nature of market capitalization and sector representation.