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.
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The S&P Dow Jones Indices and Experian released data for the S&P/Experian Consumer Credit Default Indices as of September 2021, showing the composite rate remained steady at 0.39%. The bank card default rate decreased by 24 basis points to 2.11%, while the auto loan default rate increased by one basis point to 0.35%. Regional analysis revealed Miami's default rate dropped to 0.80%, New York to 0.40%, and Los Angeles to 0.31%. The release highlights trends in consumer credit defaults across various loan categories and metropolitan areas.
S&P Global (NYSE: SPGI) and IHS Markit (NYSE: INFO) announced that the UK Competition and Markets Authority (CMA) found no major competition concerns regarding their merger, except for specific commodity prices. To address the CMA's concerns, they plan to divest certain businesses to News Corp, including Oil Price Information Services and others. The companies will submit these proposals by November 2, 2021, and believe these remedies will suffice for approval in Phase 1.
S&P Global (NYSE: SPGI) and IHS Markit (NYSE: INFO) announced that the UK Competition and Markets Authority found no major competition concerns regarding their merger, except for specific commodity and petrochemical price assessments in the UK. To address these concerns, they plan to divest IHS Markit's Oil Price Information Services, Coal, Metals and Mining, and PetroChem Wire businesses to News Corp, among other proposals. The companies aim to achieve clearance for their transaction by submitting these remedies, with a provisional CMA decision expected by November 2, 2021.
S&P Dow Jones Indices and MSCI announced a consultation regarding potential changes to the Global Industry Classification Standard (GICS) structure in 2022. The consultation period, from October 18 to December 20, 2021, aims to ensure that GICS remains aligned with current market conditions. Key areas for potential changes include the classification of renewable energy companies, data processing services, banks, REITs, and cannabis definitions. Any modifications will be revealed by February 2022.
S&P Global Platts and Xpansiv have introduced Methane Performance Certificates (MPCs) to establish a new benchmark for methane performance in U.S. natural gas production. This initiative responds to increasing demand for low-carbon fuels and enables producers to sell certificates representing zero methane emissions. The daily price benchmark for MPCs commenced on October 4, with assessments reflecting market transactions. The first MPC was transferred between Pacific Canbriam Energy and Skeena Bioenergy, promoting higher standards for emissions in natural gas production.
The 2021 global exploration budget report from S&P Global Market Intelligence reveals a substantial recovery in the mining exploration sector, with a 35% increase year-over-year, reaching $11.2 billion from $8.3 billion in 2020. Key insights include robust metal prices, with gold averaging $1,784 per ounce and copper at $4.25 per pound in August 2021. Canada leads budget allocations at $2.1 billion, while Africa sees less growth. Junior explorers have increased budgets by 62%, totaling $4.1 billion, although major firms still account for half of the total budget.
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