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Following Hurricane Ida and other storms, CARFAX reported that up to 212,000 vehicles could have been damaged by flooding. In 2021 alone, there were already 378,000 flood-damaged cars on the road, with Texas leading at 66,500 affected vehicles. Buyers nationwide are at risk of purchasing these previously flooded cars, which can deteriorate over time, causing significant problems. To assist consumers, CARFAX offers a free Flood Check tool and advice on identifying flood-damaged vehicles.
IHS Markit anticipates significant changes in energy and geopolitics due to global energy transition and net-zero carbon goals, highlighted by the upcoming COP26 conference in Glasgow. Daniel Yergin notes that U.S. emissions must decrease by 50% by 2030, aligning with President Biden's climate ambitions. The report examines the need for practical actions while grappling with global tensions, highlighting substantial CO2 emissions under net-zero commitments. Furthermore, the evolving dynamics of the energy market, especially regarding oil demand and renewable energy, will present both challenges and opportunities for investment.
The new base case scenario by IHS Markit predicts global refined product demand will peak in 2036, with a decline to 85.5 MMbd by 2050, below 2019 levels. This follows a projected growth of nearly 9 MMbd from 2021 to 2036. Demand for crude-derived refined products may peak even earlier, in 2032. The shift towards biofuels is expected to grow by over 2 MMbd by 2050. Sandeep Sayal emphasizes a pragmatic approach towards energy transition goals, acknowledging potential refinery closures, with estimates suggesting a loss of more than 3 MMbd of refining capacity by 2050.
IHS Markit (NYSE: INFO) will announce its financial results for Q3 2021 on September 28, 2021, before market opening. Senior management will host a conference call at 8:00 am ET the same day to discuss the results. Investors can access the live event through the IHS Markit investor website, with a recording available two hours post-event. IHS Markit is a leader in critical information and analytics, serving over 50,000 clients, including 80% of the Fortune Global 500, and is headquartered in London.
OPIS, a unit of IHS Markit (NYSE: INFO), announces the expansion of its compliance carbon pricing services, introducing new assessments for Renewable Energy Certificates across several U.S. states, including New Jersey, Pennsylvania, Maryland, Massachusetts, and Connecticut. This expansion includes over 100 indices and aims to enhance price transparency in carbon markets. The move aligns with increasing clean energy targets and new regulations in California and the Regional Greenhouse Gas Initiative.
CME Group and IHS Markit have launched OSTTRA, a new joint venture in post-trade services, owned equally by both companies. The venture aims to deliver advanced post-trade solutions for global OTC markets across various asset classes, integrating CME Group’s optimization businesses and IHS Markit’s MarkitSERV. The headquarters is located in London, led by Co-CEOs Guy Rowcliffe and John Stewart. To achieve equal ownership, IHS Markit made a $113 million payment to CME Group. This joint venture seeks to streamline post-trade operations and enhance market efficiencies.
In August, national job growth surged, with Paychex reporting a 0.45% increase in the Small Business Jobs Index, reaching 99.80—its highest since January 2018. This reflects a record-high year-over-year growth rate of 5.74%. Hourly earnings also improved, rising to 3.42%, marking three consecutive months of increases. The leisure and hospitality sector saw substantial recovery, with an index jump to 101.90, a 14.61% rise since last year. Job growth was broad-based across all U.S. regions, with Arizona leading state growth and Tampa topping metropolitan areas.
The upcoming COP26 in Glasgow is viewed as a pivotal moment for translating climate aspirations into actionable results, according to experts featured in IHS Markit's CERAWeek Conversations. Despite 75% of global emissions pledging net zero, the latest IPCC report warns of rising emissions and unattained Paris accord targets. Experts emphasize the necessity for U.S.-China cooperation, grassroots engagement, and financial support to address climate change impacts. Key panelists, including Amb. Carlos Pascual and Laurence Tubiana, underscore the importance of credible short-term actions and long-term commitments for success at COP26.
