Thomson Reuters predicts terminal decline

Luke Jeffs of Financial News reports that Thomson Reuters, the parent company of the Reuters news service, is predicting a decline in revenue from its desktop terminals in 2009.

Jeffs writes, “In its annual report published yesterday, it said: ‘A significant level of job losses has occurred across the financial services industry, with some areas (fixed-income, credit-derivatives and mortgage-related businesses) impacted more severely than others.’

“It said it expected ‘large global banks and institutions in the U.S., U.K. and Western Europe to be most affected,’ adding: ‘Revenues from desktops, which represent less than 50% of the Markets division revenues, may decline in 2009.’

“Thomson Reuters said terminal sales declined last year, but the Markets division managed to make up the deficit through growth in ‘advanced analytics services, enterprise solutions, risk management products and transaction-related products.’ Markets is the group’s largest single department, last year accounting for $7.9 billion, or almost 60%, of the group’s revenue.”

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