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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.
S&P Global Commodity Insights has announced the finalists for the 24th Annual Platts Global Energy Awards, featuring 168 finalists from 26 countries across Europe, Asia, and the Americas. The awards recognize innovation and leadership in the energy sector, with winners set to be revealed on December 8 at a gala in New York City. This year's theme is Committed.Connected.Charged., highlighting the industry's response to challenges like Europe's energy crisis. Categories include CEO of the Year and Energy Company of the Year.
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Auto Loan Default Rate at Highest Since March 2020
According to the latest data from S&P Dow Jones Indices and Experian for August 2022, the auto loan default rate increased to 0.72%, marking a six basis point rise, while the composite default rate remained stable at 0.57%. The bank card default rate experienced a slight decrease to 2.41%. Among major metropolitan areas, Dallas saw the largest increase in auto loan defaults, up to 0.69%. Meanwhile, both New York and Los Angeles recorded declines in their respective default rates.
According to a recent analysis by S&P Global Commodity Insights, the western Canadian pipeline system may face capacity challenges by the late 2020s, despite recent expansions. Major projects, including the Enbridge Line 3 Replacement and the upcoming Trans Mountain Pipeline Expansion, are expected to increase capacity by over 1.2 million barrels per day by 2030. However, crude production could exceed 5.3 million barrels per day, raising concerns about infrastructure strain and potential price instability. The report warns that various factors may hinder the effective utilization of pipeline capacities.
S&P Global has released its latest Energy Transition Outlook on Sept. 19, 2022, featuring insights on natural gas, coal, nuclear, oil, and renewables. The report emphasizes the growing importance of decarbonization and energy security, particularly in light of Russia's invasion of Ukraine. Key findings suggest that while global oil demand is projected to rise, demand for thermal coal will peak in 2024. Renewables are anticipated to comprise 60% of Europe's power generation by 2030, highlighting shifts in energy strategy across the globe.
S&P Global Commodity Insights is expanding its Platts Ammonia Forward Curves to 24 months, effective September 16, 2022. This enhancement responds to rising demand for long-term ammonia pricing amid market volatility and high spot prices. The new curves will be quantitatively driven, covering FOB Middle East, CFR Northwest Europe, CFR US Gulf, and CFR Far East Asia. This expansion builds on existing forward curves launched earlier in 2022, aiming to improve price risk strategies and bolster international trade in ammonia.
S&P Global Sustainable1 has launched an enhanced Physical Risk Exposure Scores and Financial Impact dataset to assess corporate exposure to climate change hazards. The dataset indicates that by the 2050s, 92% of the largest companies will have at least one asset at high risk, with over a third facing potential financial impacts equivalent to 20% or more of asset value. Covering over 20,000 companies and utilizing advanced climate models, the dataset aims to assist stakeholders in understanding and mitigating climate-related financial risks.
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S&P Global Market Intelligence has launched the Onboarding Accelerator tool, integrated into its Securities Finance platform. This automated solution aims to modernize the outdated manual onboarding process for borrowers and lenders, enhancing transparency and efficiency.
The tool introduces features such as improved controls, advanced portfolio assessment reports, and streamlined documentation requirements. Global Head of Securities Finance, Kabin George, emphasized the reduction of human errors and delays, thereby improving the overall client experience.
Carfax and the Alliance for Automotive Innovation have developed the Vehicle Recall Search Service (VRSS), which has completed over 2 billion vehicle checks since its launch in March 2018. The tool has identified 29 million vehicles with open recalls, promoting greater awareness and safety. Notably, Maryland reports a 15% decrease in open recalls since 2019 due to the service. Other states, including New York and California, have also seen double-digit declines. The initiative aims to increase driver safety by providing crucial recall information to consumers.