Reuters becomes more aggressive about investigative biz reporting

TALKING BIZ NEWS EXCLUSIVE

Reuters recent hires of investigative business reporters and an enterprise editor signals the wire service’s increasing focus on bigger-picture business news stories, says the news editor for company news in the Americas.

“We’re a lot more aggressive at hitting the big stories hard,” said Martin Howell in an interview Monday with Talking Biz News. “This organization has changed progressively during the past 10 years.”

Howell pointed to the hiring last week of Kansas City Star business reporter Dan Margolies and former Toledo Blade investigative reporter Steve Eder earlier this year as part of that effort. Eder is a banking reporter for Reuters and tracked down government “pay czar” Kenneth Feinberg earlier this year on Martha’s Vineyard for a story.

In addition, Reuters has hired Jim Impoco, formerly with the New York Times business section and Conde Nast Portfolio, as its enterprise editor, a new position at the wire service

However, Howell said that there will be no specific investigative reporting unit. Margolies, he said, will work with Rachelle Younglai, the Reuters reporter covering the Securities and Exchange Commission on financial fraud stories.

“We felt the need to do this for some time,” said Howell about the Margolies hire. “It just took a while to find the right person. As to whether there will be similar appointments, I don’t know yet, but I wouldn’t be surprised.”

Howell pointed to Reuters coverage of the Allen Stanford fraud story, where the wire service sent reporters to Antigua before any other business news media, and its coverage of the former head of American International Group Inc.’s derivatives unit, as examples of its recent aggressive, investigative coverage.