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.
automotiveMastermind, part of S&P Global Mobility, announced a new update for its Mastermind platform that integrates open recall data. This feature enables dealerships to identify customers with outstanding recalls, encouraging them to schedule repairs. By displaying recall titles, descriptions, and remedies, the platform allows dealers to communicate effectively and enhance customer relationships. This update aims to bolster customer loyalty and increase sales opportunities in a competitive market, providing personalized messaging and emphasizing vehicle safety.
S&P Dow Jones Indices reported that U.S. common indicated dividends increased by $17.6 billion in Q2 2022, marking a decrease from $18.2 billion in Q1 but an increase from $12.9 billion in Q2 2021. The total for the 12-month period ending June 2022 reached $89.8 billion, up 54.7% year-over-year. Dividend decreases fell to $15.1 billion, down from $20.0 billion in the previous year. Cash dividends per share reached a record $16.63, up 2.3% from Q1 2022. S&P 500 dividends increased by 14.1% compared to Q2 2021, signaling continued growth.
S&P Global Commodity Insights and Pexapark have partnered to create co-branded renewable energy price indices, enhancing transparency and risk assessment in renewable energy markets. The new indices will leverage Pexapark's pricing data and S&P's benchmark expertise, facilitating growth in renewable power purchase agreements (PPAs). This collaboration aims to establish crucial price benchmarks to support investment in sustainable energy, essential for corporate and government energy transition strategies. The indices will cover assessed prices for solar and wind PPAs, driving efficiency in the renewable energy market.
S&P Global has revised down its 2022 growth forecasts for major economies, revealing a significant adjustment in its latest report, "Global Economic Outlook Q3 2022." China's GDP growth forecast has dropped by 0.9 percentage points to 3.3%, attributed to COVID-lockdowns. While the U.S. is expected to avoid recession, high prices and increasing borrowing costs are threatening economic stability. The eurozone's growth forecast has also been slightly reduced due to rising inflation concerns.
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The S&P CoreLogic Case-Shiller Indices reported a 20.4% annual gain in U.S. home prices for April 2022, down slightly from 20.6% in March. The 10-City Composite grew 19.7%, and the 20-City Composite rose 21.2%. Tampa led cities with a 35.8% increase, followed by Miami at 33.3% and Phoenix at 31.3%. Month-over-month, the U.S. National Index rose 2.1% before seasonal adjustments. Despite these robust growth rates, signs of deceleration in price increases were noted, possibly influenced by rising mortgage rates.
S&P Global (NYSE: SPGI) announced that John Berisford will transition to an executive advisor role prior to his departure in December 2022. Berisford, who previously served as President of S&P Global Ratings, played a crucial role in integrating S&P Global following its merger with IHS Markit in February 2022. His leadership has been pivotal to the company's growth and strategic direction. Douglas L. Peterson, CEO, praised Berisford's contributions, emphasizing his impact on the company's transformation into a leading data and analytics provider.
The Board of Directors of S&P Global (NYSE: SPGI) has approved a cash dividend of $0.85 per share for the third quarter of 2022, payable on September 12, 2022, to shareholders of record on August 26, 2022. The annualized dividend rate stands at $3.32 per share. Notably, S&P Global has consistently paid dividends since 1937 and has increased its dividend annually for at least the past 49 years.
S&P Dow Jones Indices and Experian report an increase in the composite rate of consumer credit defaults, reaching 0.51% in May 2022. This marks the sixth consecutive rise in the rate. The bank card default rate decreased to 2.49%, while the auto loan default rate increased to 0.61% and the first mortgage default rate saw a minor rise to 0.36%. Among major metropolitan areas, Los Angeles experienced the highest increase in defaults, now at 0.45%, while Miami reached 0.84%.