Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Layoffs swell as air leaks from Big Tech's balloon

Major technology firms laid off tens of thousands of workers in one of the worst months for the industry's jobs market in recent memory. But Big Tech's troubles are unlikely to infect that tightest U.S. labor market in decades.

—Read the full article from S&P Global Market Intelligence

US, European investment banks to slash jobs, pay as revenue plummets

With deal advisory and securities underwriting revenue nearly halving year-to-date, major U.S. and European groups are expected to cut 2022 investment banking bonuses by up to 45% and reduce headcount in 2023.

—Read the full article from S&P Global Market Intelligence

US banks' overdraft fee income drops for 3rd straight quarter

U.S. banks reported a total of $1.76 billion in overdraft-related service charge income in the third quarter, down nearly 8% from the second quarter and 22% from the year-ago period.

—Read the full article from S&P Global Market Intelligence

New UK budget hits bigger banks with 'windfall tax by stealth'

While the U.K. government did not directly go after banks' excess profits, changes introduced in the latest budget would still raise the tax burden for the sector, with larger players bearing the brunt.

—Read the full article from S&P Global Market Intelligence

APAC banks' debt issuances to stay steady after recent spike amid tightening

Banks in the region raised $8.61 billion of debt in October, down from $26.07 billion in September and from $9.52 billion in October 2021.

—Read the full article from S&P Global Market Intelligence

Financials Research: Nearly $1B in estimated prior-year reserve build added to State Farm's Q3 woes

The top-tier mutual's year-to-date net underwriting loss through Sept. 30 surged to $8.65 billion from $2.54 billion during the first three quarters of 2021 as private auto loss ratios continued to deteriorate.

—Read the full article from S&P Global Market Intelligence

Tracking Apple's growing fintech ambitions

Apple is well-positioned to take a bite out of the financial services market with its growing payments ecosystem, analysts said, despite some recent product delays.

—Read the full article from S&P Global Market Intelligence

Some US banks increased lending on office properties in Q3

Commercial real estate market observers continue to report uncertainty about office leasing and the future of in-person work, but some banks that are active lenders in the segment are maintaining or growing their exposure.

—Read the full article from S&P Global Market Intelligence

Private equity transactions in energy efficiency defy downward deal trend

Private equity and venture capital deployment in the energy efficiency space is on track to reach $31.79 billion, nearly double the total investments in the sector in 2021.

—Read the full article from S&P Global Market Intelligence

Outlook for India’s economic growth and policy platforms

India's real GDP growth is projected to average 6.3% annually in FY 2021-30, enabling it to overtake Japan and Germany to become the world's third-largest economy.

—Read the full article from S&P Global Market Intelligence

Benchmark Fed rate soars toward 5% with few clues to peak

The futures market sees the federal funds rate peaking between 5% and 5.25%, but the path of inflation could prove these bets wrong in either direction.

—Read the full article from S&P Global Market Intelligence

RRA Research: Focus on FERC — Glick nomination stalls in Senate; ROE challenges continue

The nomination of Chairman Richard Glick to a new term at the Federal Energy Regulatory Commission appears stalled as return on equity challenges continue in current electric and gas proceedings at the commission.

—Read the full article from S&P Global Market Intelligence

Utility executives assess value, risk of ownership stake sales

Not all U.S. utility executives are sold on the value and strategy of selling off slices of prized businesses to address equity needs or unlock new value.

—Read the full article from S&P Global Market Intelligence

Gas-rich Norway resists pressure to cut EU neighbors a deal

Now the EU's top gas supplier, Norway has been under pressure to agree to a price cap for months. One utility representative views Norway as having a moral obligation: "Do you really want to rake in the last penny of poor Europeans here?"

—Read the full article from S&P Global Market Intelligence

451 Research: Latin America home to 10 new cloud regions since onset of COVID-19 pandemic

As companies sought to have their infrastructure closer to end users due to the pandemic, American and Chinese cloud providers increased their levels of investment in Latin America, announcing new cloud regions for unserved markets.

—Read the full article from S&P Global Market Intelligence

Twitter's struggles narrow path to revenue growth as Musk charts new direction

With employees and advertisers fleeing Twitter, Elon Musk's plans to grow subscription revenue are both more important and more implausible than ever. Subscriptions are a small slice of revenue for other major social media platforms.

—Read the full article from S&P Global Market Intelligence

Metals and Mining Research: Lithium M&A involving assets with resources, H2'21-H1'22

The year ended June 30 was marked by robust lithium M&A activity, with many first-time lithium buyers attempting to capitalize on increasing demand and high prices.

—Read the full article from S&P Global Market Intelligence

The Week in M&A

Soros loads up on merger target stocks in Q3

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Washington Federal announces 3rd-largest bank deal of 2022 amid M&A slowdown

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Huntington, PNC strike mortgage deals amid tough home-lending market

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