Welcome to our dedicated page for S&P Global news (Ticker: SPGI), a resource for investors and traders seeking the latest updates and insights on S&P Global stock.
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 launched a new suite of price assessments for International Renewable Energy Certificates (I-RECs) in Brazil, India, and Turkey. This initiative aims to enhance pricing transparency as demand for renewable energy grows. The assessments will provide crucial end-of-day renewable-origin power values for market participants, leveraging technologies such as hydro, solar, wind, and biomass. Brazil stands out as the largest I-REC market in Latin America, with Turkey and India among the leading markets in Asia. The assessments are available through MegaWatt Daily and other platforms.
S&P Global Commodity Insights has acquired the Middle East Petroleum & Gas Conference (MPGC) and the Fujairah Bunkering & Fuel Oil Forum (FUJCON) from Conference Connection. This acquisition enhances S&P Global's position in the energy events sector and expands its footprint into the Middle East, complementing its existing global events like CERAWeek and APPEC. MPGC and FUJCON are established gatherings for industry leaders, fostering networking and knowledge exchange amidst the global energy transition. Financial terms of the deal were not disclosed.
S&P Dow Jones Indices has successfully completed its ninth annual review of adherence to the IOSCO Principles for Financial Benchmarks. Conducted by an independent accounting firm, the review assesses essential aspects of index governance and operational frameworks to ensure independence and transparency. CEO Dan Draper emphasized the importance of this process for maintaining integrity in their market-leading indices. The management statement and independent review results are available on their governance website, solidifying S&P DJI's commitment to best practices in the industry.
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S&P Global (NYSE: SPGI) announced the full acquisition of Private Market Connect (PMC), a data solutions provider in private markets, enhancing its Market Intelligence division. This acquisition integrates PMC with S&P's iLEVEL technology, offering improved data management services to Limited Partner and General Partner customers. S&P Global previously held a 50% stake in PMC and acquired the remaining stake from Hamilton Lane. PMC tracks over 15,000 funds and $1.2 trillion in commitments. The transaction was signed and closed without disclosed terms.
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IAA, Inc. (NYSE: IAA) announced a new collaboration with CARFAX Canada to integrate vehicle history reports for non-branded, repairable vehicles in Canada. This addition enhances the Auction Centre's Vehicle Details Page, allowing buyers to access comprehensive vehicle history reports for up to 180 days after purchase, thus improving transparency and trust. The initiative is expected to bolster buyer confidence and improve the overall purchasing experience.
First Mortgage Default Rate Reaches Highest Level Since September 2020
According to the latest data from S&P Dow Jones Indices and Experian, the first mortgage default rate increased by four basis points to 0.42% in July 2022. The composite default rate rose to 0.57%, marking an increase for the eighth consecutive month. Key metropolitan areas such as Miami saw the largest rise at 1.13%, while New York's rate fell to 0.65%. These trends indicate growing risks in consumer credit markets.
Novata has launched SFDR metrics within its ESG reporting platform, aiming to assist financial market participants in meeting European sustainability disclosure regulations. The company is expanding its sales team in Europe to enhance its reach and effectiveness. Backed by notable organizations such as S&P Global (NYSE: SPGI) and Hamilton Lane (NASDAQ: HLNE), Novata's platform simplifies ESG data management, providing tools for data collection and reporting. This initiative responds to increasing regulatory demands for ESG disclosures across private markets.
S&P Global Mobility has appointed Mark Rechtin as the new Executive Director and Executive Editor, effective August 15, 2022. Rechtin, with over 30 years in automotive journalism, will report to Kristen Balasia, focusing on enhancing editorial insights during a transformative industry period. His extensive experience includes leadership roles at Automotive News and MotorTrend. Joe LaFeir, President of Automotive Insights, emphasized Rechtin's ability to analyze competitive market trends, which will enrich client interactions and strengthen S&P Global Mobility's leadership in the automotive data sector.