Key Takeaways
- BMW Group (BMW) reported a 4.9% decline in global vehicle deliveries for Q2 2026, totaling 590,962 units, primarily due to a 30.2% plunge in the Chinese market.
- Fitch Ratings affirmed Oil and Natural Gas Corporation (ONGC) at 'BBB-' with a Stable Outlook while raising its Standalone Credit Profile (SCP) to 'bbb+' on expectations of low leverage.
- SoftBank Group (SFTBY) is reportedly exploring a stake purchase in Seven & i Holdings (SVNDY), as the 7-Eleven owner continues its massive restructuring to fend off takeover interest.
- Turkey has officially decided not to join the Canada-led Defence, Security and Resilience Bank (DSRB) initiative at this stage, following internal consultations between its defence and finance ministries.
BMW Hit by Sharp Contraction in China
BMW Group (BMW) faced significant headwinds in the second quarter of 2026, with global deliveries falling to 590,962 units. The 4.9% year-over-year drop was almost entirely driven by a collapse in demand in China, where sales plummeted 30.2%.
Despite the struggle in Asia, the German automaker saw resilience in Western markets. Deliveries in the United States rose 11.9%, while European markets (excluding Germany) saw a 7.6% increase. The company noted that intensifying competition and a shifting regulatory landscape in China continue to weigh on the luxury automotive sector, echoing recent delivery misses from peers like Mercedes-Benz and Porsche.
Fitch Upgrades ONGC Standalone Credit Profile
Fitch Ratings has affirmed the Long-Term Foreign-Currency Issuer Default Rating of India’s Oil and Natural Gas Corporation (ONGC) at 'BBB-' with a Stable Outlook. Crucially, the agency raised the company's Standalone Credit Profile (SCP) to 'bbb+' from 'bbb', reflecting a robust financial position.
The upgrade to the SCP is supported by expectations that ONGC's EBITDA net leverage will remain well below the 2.0x ceiling. Fitch cited stable EBITDA from vertically integrated operations and high crude oil prices as key factors that will offset the company's ambitious capital expenditure plans.
SoftBank Eyes Seven & i Amid Restructuring
SoftBank Group (SFTBY) is considering an investment in Seven & i Holdings (SVNDY), the parent company of 7-Eleven. This move comes as Seven & i undergoes a "transformational" restructuring, which includes a planned IPO of its North American unit by the second half of 2026 and a $13.2 billion share buyback program.
The retail giant has been under pressure to unlock shareholder value since rebuffing a $47 billion takeover bid from Canada’s Alimentation Couche-Tard. A potential stake by SoftBank could provide the Japanese retailer with a powerful domestic ally as it pivots to focus exclusively on its global convenience store operations.
Turkey Declines Canada-Led Defence Bank
The Turkish Defence Ministry announced on Friday that it will not join the Defence, Security and Resilience Bank (DSRB) at this time. The decision follows a series of consultations between Turkey's defence industry authority and its foreign and finance ministries.
The DSRB, a multilateral initiative championed by Canadian Prime Minister Mark Carney, aims to raise up to $134 billion to finance allied defence production. While nine countries—including Ukraine, Belgium, and Romania—have pledged support, the absence of major G7 economies and Turkey’s current withdrawal may limit the institution's initial financial scale.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.