Reuters, referred to as Reuters, is the world’s top three multimedia news agency, providing various news and financial data, and operating in 128 countries. Reuters provides news reports to newspapers, television stations and other media, and has always been known internationally for its speed and accuracy. On the other hand, Reuters provides tools and platforms, such as stock prices and foreign currency exchange rates, which allow traders to analyze financial data and manage transaction risks; at the same time, Reuters’ system allows customers to complete transactions via the Internet, instead of telephone or New York Stock Exchange transactions. With manual trading methods such as halls, its electronic trading services connect the financial community.
Reuters’ services are divided into four parts : buying and selling and trading, research and asset management, corporate and media. More than 90% of its revenue comes from financial services: the analysis, processing, and delivery of information such as stocks, foreign currency exchange rates, and bonds. And the development of related products.
Headquartered in the United Kingdom, Reuters is a news service and financial market data provider controlled by the Canadian Thomson Group . The group’s business includes newspapers and broadcasts around the world. News reports account for less than 10%. Its main business is to provide financial market information and trading products. These measures include market data such as stock prices and currency exchange rates, research and analysis, and trading systems that enable dealers to buy and sell these assets as currencies and stocks on computer screens instead of over the phone or on the trading floor, as in New York Securities Listed on the exchange. Among other services, the most notable is the analyzed debt claims of 40,000 companies. Competitors include Bloomberg News and Dow Jones Newswires .
The history of Reuters:
In 1849, Paul Julius Reuters, who was born in Kassel, Germany, began to use carrier pigeons to transmit stock prices between Aachen, Germany and Brussels, Belgium. The newly opened Berlin-Aachen telegraph line is also used to transmit messages between the two cities. However, there is a 76-mile (approximately 122 kilometers) gap between Aachen and Brussels, which is the capital and financial center of Belgium. Reuters saw an opportunity to use pigeons to transmit news between Brussels and Berlin to make up for the lack of radio.
In October 1851, Reuters established a submarine telegraph office in the United Kingdom and signed a paper contract with the London Stock Exchange to provide stock market information on the European continent in exchange for the right to obtain information on the British stock market. In November of the same year, the laying of a submarine cable between Dover, England and Calais, France was completed, and Reuters used the submarine cable to provide data on the British stock market to traders in Paris, France. However, in the seven years from its establishment in 1851 to 1858, no newspaper had dealt with Reuters. For the press, Reuters did not seem to exist.
In 1858, in order to break the gap in newsletters, Reuters first knocked on the door of London’s “Morning Advertising”. After capturing the “Times”, Reuters began to make great progress.
The popularity of Reuters gradually increased. In 1865, Reuters was reorganized and expanded into a company limited by shares, known as the Reuters Telegraph Company, and Reuters became its first manager. Especially after the first report of the assassination of Abraham Lincoln in Europe in 1865. The service content provided by Reuters has gradually increased, including global general and financial news. In 1923, it created a precedent for using radio to spread news internationally. Reuters himself became a British citizen in 1857. Today, Reuters has operations and 197 news branches in 200 cities in 94 countries around the world, providing news in 19 languages. Almost all major news media have subscribed to Reuters news.
Reuters began to grow rapidly in the 1980s, expanding its product range. In 1984, Reuters was listed on the London Stock Exchange and Nasdaq and became a publicly listed company. However, there are concerns that a listed company will damage objective reporting, such as controlling a single shareholder of the company. In order to cope with this possibility, when the company formulates the articles of association, including the stock listing rules, individuals are not allowed to exceed 15% of the shares. This rule was applied in the late 1980s.
At the same time, as a further measure to protect the independence of news, Reuters founder Reuters established a joint-stock company. The only mission of this company is to protect the integrity of its news output. It owns a “founder’s share”, a Reuters principle that tries to change any relevant rules. These principles set out the company’s purpose to maintain its independence, integrity and unbiased news reporting.
Reuters began to grow rapidly in the 1980s, expanding its business scope of products and expanding its global news network media, financial and economic services. A series of mergers and acquisitions, including Visnews (Visnews, later renamed Reuters TV) in 1985, Instinet in 1986, TIBCO (later Teknekron) and Quotron in 1994.
In the mid-1990s, Reuters made a brief radio station march, setting up Radio London and two radio stations, London News 97.3 FM and London News Talk 11.52AM. Reuters’ radio news service has also established competition and independent radio news.
In 1995, Reuters established the Greenhouse Fund to make small investments in technology companies just established in the United States.
Reuters also holds a majority stake in TIBCO software, which was first publicly listed on Nasdaq in July 1999, and Instinet, which was also listed on Nasdaq in May 2001. In October 2001, Reuters completed the largest merger in its history and bought most of the assets of Bridge Information Systems. In March 2003, Reuters acquired Multex.com Inc.
On May 15, 2007, the Canadian Thomson Group and Reuters Group issued a statement and reached an agreement on the merger. The transaction value is $17.2 billion. Thomson now controls approximately 53% of the new company, which is called Thomson Reuters. The new chief Tom Grosser once held an earlier 15% stake in Reuters. On March 26, 2008, the shareholders of the two institutions agreed to merge.
In October 2007, Reuters launched a mobile phone service in India, providing local and personalized commodity price information, news and weather forecasts.
On January 18, 2016, the Sina Weibo account of Reuters’ Chinese website posted a report that Xiao Gang had proposed to resign as chairman of the China Securities Regulatory Commission. On the same day, the China Securities Regulatory Commission claimed that the news was false. The account was cancelled immediately.