In the battle of business news wires, Reuters is claiming that it has recouped some lost market share and is now “neck and neck” with rival Bloomberg, according to an article on Wednesday’s Times of London.
Reporter Miles Costello writes, “As it delivered forecast-busting growth in first quarter revenues to Â£633 million, Reuters argued that over the course of last year it increased its share of the Â£6 billion market for financial information and services by 1 per cent, to 27 per cent.
“According to Reuters’ calculations, this puts it on a level footing with Bloomberg, the aggressive American competitor that has stolen a march on its media rival for more than a decade.
“Providing news screens, trading terminals and data feeds to the City and other investment centres accounts for 80 per cent of Reuters’ revenues – and matching Bloomberg in this area represents a major victory for the group.”
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