Terminal warfare or how the upstart Bloomberg overtook Reuters in 20 years

Terminal warfare or how the upstart Bloomberg overtook Reuters in 20 years - For most of its 150-year history, Reuters has been the king of news and financial data. But now a brash young business from across the pond wants to snatch its British rival's crown. Chris Blackhurst reports.

by Chris Blackhurst

For most of its 150-year history, Reuters has been the king of news and financial data. But now a brash young business from across the pond wants to snatch its British rival's crown. Chris Blackhurst reports.

At Bloomberg in London, a journalist is hauled over the coals for allowing Reuters to beat them to a story by 13 seconds. Over at Reuters, they're cock-a-hoop as well, because they've hired Sean Farrell, Bloomberg's UK banking reporter. The fact that the poaching was timed just before the banks' reporting season, leaving Bloomberg without a seasoned expert, adds to Reuters' glee.

Welcome to one of the fiercest battles in business: for domination of the global financial information and electronic terminal markets. It has all the ingredients of a classic conflict. New versus old, America pitted against Britain, brash against restrained, lean-and-mean attacking flabby and complacent. At stake, a total prize purse running into billions of pounds a year.

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