Unanswered questions remain in Bloomberg snooping scandal
CNBC senior economics correspondent Steve Liesman writes Friday about the remaining unanswered questions surrounding the Bloomberg snooping scandal. Here are some of them: If editors knew about the issue in 2011, why was the practice only banned in 2013 after Goldman Sachs complained? The appearance, according to Roush, is that clients are calling the shots […]
Bloomberg hires ex-IBM CEO to review internal controls
Bloomberg LP announced Friday the appointment of Samuel J. Palmisano, the former chairman and CEO of IBM, to serve as an independent adviser regarding the company’s privacy and data standards. The financial news and data company has been criticized in the past week after it was disclosed that some of its reporters had access to […]
Citi moves away from Bloomberg for its foreign exchange traders
Citigroup is stopping traders in its foreign exchange division from using internal chat groups on their Bloomberg terminals, reports Alice Ross of The Financial Times. Ross writes, “Citi said shutting those chat groups would increase security and had the advantage that not everyone would need a terminal to access live internal information about clients’ trading […]
Tech reporters and the swag from Google
Jeff Saginor of The American Prospect writes about the free gifts that Google gives away at its annual tech conference to reporters who cover the company. Saginor writes, “But Google isn’t really courting developers with events such as this; it’s courting the media. It wants its latest innovations blasted across the Internet’s echo chambers. So […]
Bloomberg’s quiet wealth management operation
John Carney of CNBC.com writes about BloombergBlack, the quiet wealth management operation controlled by Bloomberg LP, and what it might mean for the company’s financial data and news operation. Carney writes, “That first bullet point seems almost like an attempt to salve any future wounds Bloomberg’s wealth management business might inflict on the customers of […]
The unique ethics situations that Bloomberg case exposes
Adam Geller of the Associated Press writes about how the Bloomberg snooping scandal exposes how new media companies face unique ethical situations. Geller writes, “‘Many more journalism companies will face the type of competing values that the journalists at Bloomberg faced because, as the economic model for journalism changes, more companies, if they’re successful, are […]
Bloomberg can not take Wall Street for granted
John Gapper of The Financial Times writes about the Bloomberg LP snooping scandal, warning the financial data and news company about taking Wall Street for granted. Gapper writers, “They could turn to its competitors, such as Thomson Reuters, or they could go it alone – creating their own instant messaging, pricing and data services, in the […]
Senate panel may investigate Bloomberg
Sen. Carl Levin’s Permanent Subcommittee on Investigations, which has examined the financial meltdown and JPMorgan’s “London Whale” debacle, is being urged to launch a probe into Bloomberg’s snooping scandal, The New York Post reports. Mark De Cambre and Kaja Whitehouse report, “At least one federal official has recommended that the powerful committee take the lead […]
JP Morgan demands to know what Bloomberg reporters accessed
JPMorgan Chase & Co, one of the biggest customers of Bloomberg LP, said on Wednesday it has sent a formal legal request asking the financial data and news company to provide details of what bank information Bloomberg News reporters had been able to see. David Henry of Reuters writes, “JPMorgan’s statement comes after Bloomberg acknowledged […]
Wall Streeters care more about their messages online than reporters snooping
Cyrus Sanati of Fortune writes about how the Wall Street bankers and traders who are the core Bloomberg customers are more worried about how some of their private messages using the company terminal made it on the Internet than they are about Bloomberg reporters using the terminal to snoop on them. Sanati writes, “The bulk […]
