S&P Global Inc. - SPGI STOCK NEWS

Douglas L. Peterson, President and CEO of S&P Global (NYSE: SPGI), will speak at the Stifel 2024 Cross Sector Insight Conference on June 4, 2024, in Boston, MA. His session, a 'fireside chat,' is scheduled for 11:30 a.m. EDT and will be webcast. The webcast will allow broader access for stakeholders and interested parties to gain insights into the company's strategic direction and financial health. The event signals S&P Global's continued engagement with the investment community and its proactive communication strategy.

S&P Global Commodity Insights announced the launch of new Platts price assessments for poultry and beef markets in the Americas, Asia, and Middle East. This initiative, available via Platts Protein Daily, aims to enhance transparency in the food value chain by offering daily price insights for key cuts of poultry and beef. Seven new price assessments include values for chicken legs and breasts as well as beef forequarters and manufacturing beef. The expansion is expected to meet growing protein consumption demands and provide essential data for stakeholders such as farmers, producers, traders, processors, and end users. S&P Global forecasts a significant rise in global chicken and beef production by 2029, with notable increases in Asia, Latin America, and the US.

CARFAX reports that 6.4 million vehicles in the U.S. still have potentially lethal Takata airbags a decade after recalls were mandated by the NHTSA. Notably, 2.5 million of these vehicles are in high-risk states, including Texas, California, and Florida. Takata airbags, under prolonged heat and humidity, can explode violently, causing shrapnel injuries. To date, 27 fatalities and 400 injuries in the U.S. have been linked to these airbags.

Despite the recalls, 150,000+ unfixed vehicles are reported in 14 states, with the highest numbers in Texas (788,000) and California (739,000). CARFAX emphasizes the urgency of replacing these airbags, which is a quick and free process. The CARFAX Car Care app alerts users about recalls, assisting them in ensuring their vehicle's safety.

CARFAX collaborates with the Alliance for Automotive Innovation in expanding the Vehicle Recall Search Service to more states. This service, launched in 2018, has checked over 5.8 billion vehicles.

S&P Global Mobility forecasts U.S. light vehicle sales to reach 1.4 million units in May 2024, marking a 3% increase year-over-year and a 7% rise from April 2024. This translates to a seasonally adjusted annual rate (SAAR) of 15.6 million units. Despite these gains, the market lacks sustained momentum due to high vehicle prices and interest rates. Inventory levels, particularly for electric vehicles (EVs), are growing but at a slower rate. May's BEV share is projected at 7.6%, with future increases dependent on new model rollouts. Analysts warn of potential downside risks for the rest of 2024.

S&P Global (NYSE: SPGI) is scheduled to participate in two major investor conferences in May 2024. On May 30, Douglas L. Peterson, President and CEO, along with Adam Kansler, President of S&P Global Market Intelligence, will attend the Deutsche Bank Annual Global Financial Services Conference in New York City. Peterson will speak at 12:10 p.m. EDT in a session that will be webcast. These events are significant for stakeholders and investors looking for insights into S&P Global's market strategies and financial outlook.

The average age of vehicles in the U.S. has hit a record 12.6 years in 2024, according to S&P Global Mobility. This trend, while showing signs of slowing, continues to present substantial opportunities for the automotive aftermarket sector. As vehicles age, the demand for repairs and services is projected to rise, with more than 110 million vehicles currently in the prime repair age range of 6-14 years. Vehicle scrappage rates remain stable at 4.6%, with a notable shift towards utility vehicles. The total U.S. vehicle fleet has grown to 286 million, including 3.2 million EVs, though EV adoption has seen slower growth than expected. Consumer preference for utility vehicles is reshaping the market, and the impact of COVID-19 continues to influence vehicle supply and age distribution.

S&P Global announced that three executives have been recognized by INvolve's 2024 Empower Role Model Lists, supported by YouTube, for their efforts in promoting diversity and inclusion. The recognized executives are Martina Cheung, President of S&P Global Ratings, Swamy Kocherlakota, Chief Digital Solutions Officer, and Dan Draper, CEO of S&P Dow Jones Indices. The acknowledgment highlights their commitment to increasing representation and inclusion of people of color in the workplace. Martina Cheung emphasized the importance of diversity in leadership for fostering innovation and growth. Swamy Kocherlakota reiterated the value of diverse experiences in enhancing work quality, while Dan Draper expressed his honor in being recognized on the Advocates Role Model List. In 2023, 13 S&P Global executives appeared on various INvolve Role Model Lists.

A new report from AARP and S&P Global highlights challenges faced by US family caregivers in balancing work and caregiving duties. The 2023 survey of 1,200 caregivers employed at large companies reveals that 67% struggle with caregiving responsibilities, leading many to reduce work hours, decline promotions, or change jobs. As the population of adults over 65 grows, supportive employer policies are essential. Key findings include lower satisfaction among caregivers without children, higher discrimination against remote workers, and increased difficulties due to inflation. Most caregivers provide over 20 hours of unpaid care weekly, contributing $600 billion annually in unpaid labor.

S&P Global Commodity Insights, a division of S&P Global, announced its acquisition of World Hydrogen Leaders, a leading organizer of hydrogen-related conferences and events. This acquisition enhances S&P Global's portfolio of global conferences and complements its offerings in Energy Transition data and insights. World Hydrogen Leaders is known for its premier events in the hydrogen sector, including the flagship World Hydrogen Week. The acquisition aligns with the projected growth in hydrogen supply, expected to nearly triple by 2050. Financial terms were not disclosed.