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...It also removes a tailwind for the energy transition, which is now much less likely to be propelled to success by a wave of cheap capital. That puts the onus squarely back on policymakers’ shoulders....
...The slower expectations for the transition come as companies make U-turns on their climate pledges and governments double down on fossil fuels amid energy security concerns....
...Sure, a CCC-rated PIK bond looks better than a defaulted bond in your portfolio. But, as S&P puts it when explaining why U.S....
...“CVR Energy is a cash cow,” said Nick Moglia, a credit analyst with CreditSights....
...Speaking at the CERAWeek energy conference in Houston yesterday, Saudi Aramco chief executive Amin Nasser said the energy transition was “visibly failing on most fronts”, according to S&P....
...The offer from Suncor, Canada’s second-largest oil company, is a cash payment of $4.1bn and additional payments of up to $450mn if specific conditions are met, the French energy major said on Thursday....
...In last night from the SEC: The Securities and Exchange Commission today [Thursday] announced that Skechers U.S.A....
...Shares in the company, which declined 5.6 per cent on Monday, have fallen more than a third this year, making it the second-worst performer in the S&P 500 and underperforming those of legacy carmakers....
...For a stock that is expected to increase earnings below the S&P 500’s average pace this year and next, that’s still a lot....
...ArtFi 2024-1’s prospectus has further detail on the collateral backing the deal, which it notes can include “fine art, collectibles, design furniture, coins, books, jewelry, watches, wine or other spirits...
...“We focus a tremendous amount of energy on helping people live longer lives. But not even a fraction of that effort is spent helping people afford those extra years,” he wrote....
...Only utilities (a fixed income substitute at a moment of high rates) and energy (beset by low oil prices) have produced disappointing results....
...U-Power last month signed a deal to supply New York-based EV start-up Olympian Motors with its skateboards....
...An investor opposed to the deal, Energy Income Partners, pointed out that this position was a U-turn from a bullish management outlook offered as recently as 2022....
...Prospective wildfire payouts prompted S&P Global and Moody’s to downgrade PacifiCorp’s debt ratings last year....
...according to S&P....
...That said, renewable energy has not done well either. The S&P Global Clean Energy index has lost more than 30 per cent this year....
...Since mid-May, NRG’s shares have risen 47 per cent, compared with a 10 per cent loss for the S&P 500 utilities index. Shares of NRG fell 1 per cent in early trading on Monday....
...“If people don’t give this sector a chance, then the energy transition is going to be impeded by the scarcity of materials to build everything required,” he said....
...A version of this article was first published by Nikkei Asia on February 12. ©2024 Nikkei Inc. All rights reserved....
...Who are the shareholder(s) behind the suit? The lead plaintiff is an individual, Richard J....
...Here’s a chart looking at the waning outperformance of all 39 different categories that S&P DJI tracks — across both equities and fixed income....
...The U-turn puts S&P at odds with debt rating rival Moody’s, which still rates ESG criteria on a one to five scale. S&P is influential, with debt ratings that can affect a company’s borrowing cost....
...Queen and utility behemoth Berkshire Hathaway Energy....
...The flash S&P Global composite purchasing managers’ index, a measure of activity at companies across the bloc, fell to a two-month low of 47, down from 47.6 a month earlier, after contraction of activity...
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