Bloomberg LP is canceling its new wealth management service, BloombergBlack, before it hits the market, reports Jennifer Saba of Reuters.
Saba writes, “For $100 a month, the service was expected to cater to individuals looking to track their investment portfolios – including mutual fund holdings, 401K retirement plans and college savings plans.
“The project offered customers the opportunity to manage their portfolios held with retail brokerages and investment firms in one place, according to BloombergBlack’s website.
“‘We weighed the future prospects of the business against the ongoing resource investment and concluded that it wasn’t in our best interest to continue moving forward,’ said a Bloomberg spokesman. ‘We remain optimistic about the idea and open to the possibility of pursuing a similar business in the future.’
“Thomson Reuters is a competitor of Bloomberg LP.”
Read more here.
Independent Association of Publishers’ Employees board authorized a strike vote to be conducted by its…
The Southern California News Group is seeking an assistant editor to help its jobs and…
Ian Krietzberg, a tech reporter for TheStreet.com, is leaving for a new opportunity. He has…
Timothy B. Lee writes in Asterisk magazine about why a lot of technology reporting is…
Megan Douglass has been named deputy social strategy editor at The Wall Street Journal. Douglass previously…
Business Insider's Louise Ridley is joining The Female Lead, the women's empowerment charity founded by Tesco Clubcard entrepreneur Edwina…
View Comments