Tag Archives: Bloomberg

economic-data-2

Distributor to stop providing econ data only through Reuters

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The distributor of a leading manufacturing index is eliminating a trading advantage some investors currently enjoy by ending the selective early release of the data only through Reuters, reports Brody Mullins of The Wall Street Journal.

Mullins writes, “Markit’s purchasing managers index, or PMI, was previously distributed by Thomson Reuters Corp., which gave the results of the business surveys to investors and other high-paying clients two minutes before they were released to the general public.

“Under the new arrangement, Bloomberg LP and Thomson Reuters will be the primary distributors of the economic data and both will make the information public at the same time.

“Markit produces dozens of economic surveys from more than 30 countries, including the U.S. The data is closely followed by traders because it is considered to be an early indication of developments in the retail and factory sectors, two areas that can move markets substantially.”

Read more here.

bloomberg

Bloomberg should have rethought articles on China, says chairman

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Bloomberg News should have reconsidered articles that deviated from its core business-news coverage in light of the huge potential for its products in the Chinese market, the chairman of Bloomberg LP said in a speech on Thursday.

Neil Gough of the New York Times writes, “Bloomberg, the financial data and news company, relies on sales of its terminals, which are ubiquitous on bankers’ desks around the world, for around 82 percent of its $8.5 billion in revenue. But sales of those terminals in China declined sharply after the company published an article in June 2012 on the family wealth of Xi Jinping, at that time the incoming Communist Party chief. Following its publication, officials ordered state enterprises not to subscribe to the service.

“Acknowledging the vast size of the Chinese economy, the world’s second biggest after that of the United States, the chairman, Peter T. Grauer, said, ‘We have to be there.’

“‘We have about 50 journalists in the market, primarily writing stories about the local business and economic environment,’ Mr. Grauer said in response to questions after a speech at the Asia Society. ‘You’re all aware that every once in a while we wander a little bit away from that and write stories that we probably may have kind of rethought — should have rethought.’

“He did not specifically mention the article about Mr. Xi or any other articles.

“Mr. Grauer’s comments on Bloomberg’s journalistic priorities in China reflect what some Bloomberg employees say is a re-emphasis on financial news and skepticism from the business side of the company that investigative journalism might not be worth the potential problems it could create for terminal sales.”

Read more here.

Bloomberg-TV-online

Bloomberg TV seeks field producer

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Bloomberg Television seeks an experienced field producer to work on stories that will run on Bloomberg Television and Bloomberg’s digital platforms.

The producer will pitch, research, book, and write stories in the field, taking sometimes complex business issues and making them understandable. The successful candidate will manage several projects at once, multi-task and prioritize assignments and schedules. Control room experience and familiarity producing content for multiple platforms is preferred.

Qualifications:

  • Bachelor’s degree or equivalent experience
  • 5+ years of recent and relevant experience producing television news
  • Track record of experience in live segment and field producing
  • Demonstrate knowledge of and interest in business news
  • Experience with digital media platforms and integration with the ability to contribute to the creation and production of digital video and graphics
  • Ability to shoot video using DV cameras and edit preferred
  • Flexible to travel as needed
  • Must be willing and able to work flexible hours, under tight deadline pressure, including breaking news

To apply, go here.

 

Bloomberg keyboard

Bloomberg Media CEO: We will add digital products, invest in print and radio

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Bloomberg Media CEO Justin Smith has posted a strategic plan for our the financial media company plans to grow its business going forward.

Here is an excerpt:

The future of media and influence is digital and our first major step will be to align our efforts with this profound market shift.

The trend lines not only point to digital, but also towards further media fragmentation. Consumers are replacing “one size fits all” experiences with patchworks of deeper, more narrowly casted content environments that provide depth, context and community.

Today, we offer consumers two digital entry points in Bloomberg.com and Businessweek.com, but the differences between them are not as clear to consumers or advertisers as they could be. Bloomberg.com is a general business offering, but users rely on it primarily for its markets and finance content. Businessweek.com is a magazine companion site still searching for its digital rhythm. Our digital branding and product strategy needs to be clear and intentional. Consumers should have no doubt about the nature and value of our digital offerings.

Our strategy calls for building out a portfolio of new digital assets that better align our content offerings to global business audience segments. This realignment will help us go bolder and deeper, signaling to consumers outside of finance that Bloomberg has the media products for them, while providing advertisers with a more targeted way to reach their most important audiences.

And another:

Print will be complemented by critical extensions into digital, TV, and live events (as we did with Businessweek’s ‘The Year Ahead’). We will also expand our international footprint through more aggressive licensing efforts. Transforming our print publications into wholly multi-platform brands will propel them to their fullest potential.

Bloomberg Businessweek’s sensibility and range — witty, visual, forward-looking and global — will power our march into the larger global business audience across all platforms, while maintaining weekly print editions.

Bloomberg Markets will offer the same award-winning market insight and expertise, but the editorial focus will expand to a wider financial professional audience.

Bloomberg Pursuits is quickly becoming one of the premium global luxury magazines and a platform for luxury advertisers to market their products to a coveted audience. With its rapid success, we are going to increase print frequency and integrate Pursuits across platforms, including TV and events.

Ninety percent of Americans still listen to the radio — and news/talk/information is the consumers’ preferred format. We’ll continue to bring Bloomberg’s coverage to listeners in New York and Boston while broadening to reflect our new focus on the global business audience.

Read more here.

Bloomberg-View

Bloomberg View seeks QuickTake editor

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Bloomberg View is looking for an experienced editor in Washington DC for its QuickTake team to produce crisp, context-first backgrounders on topics in the news.

The editor will work with Bloomberg News reporters and editors worldwide to identify topics readers struggle to understand and then to create appealing, sophisticated explainers dense with information and fun to read. The editor must be well versed in politics, finance and the workings of the U.S. government while also conversant with topics ranging from economics and the environment to social issues and international affairs.

He or she must be a skilled wordsmith with a knack for clearing the rhetorical underbrush from complex public controversies; a proven organizational diplomat; a web-savvy innovator comfortable with infographics, social media and the vernacular of online journalism. Washington experience is a plus, as is the willingness to work there.

Qualifications:

  • Bachelor’s degree or equivalent experience
  • Minimum of two years of journalism experience
  • Strong understanding of topics ranging from economics, to the environment, to social issues, to international affairs

To apply, go here.

 

bloomberg

Bloomberg settles suit related to overtime pay

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The lawsuit by contract representatives claiming that they were denied overtime pay by Bloomberg LP has been resolved, reports Keith Kelly of the New York Post.

Kelly writes, “About 428 employees will be splitting $5.4 million — or a little more than $12,600 apiece, on average.

“Although the settlement was reached last September, workers were still filing for inclusion as plaintiffs in the class-action lawsuit as recently as January.

“The case, adjudicated in Manhattan federal court, was finally closed on March 11.

“At that time, a settlement agreement was acknowledged — but no specifics were spelled out.

“The employees had claimed that they were asked to work over 40 hours a week and more than 10 hours a day without getting paid overtime.”

Read more here.

Justin Smith

The plan for where Bloomberg Media goes next

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Brian Morrissey of Digiday spoke with Bloomberg Media CEO Justin Smith about his plans for the financial news operation.

Here is an excerpt:

What’s the vision of what Bloomberg Media will become?
It starts with the foundation of Bloomberg Media, which is one of the largest global business media companies today. It continues with looking at the context we’re operating in, which is in this exciting and tumultuous global media environment that presents huge risks and opportunities. Bloomberg has a unique market position given our business model, our culture and private company status that affords us a long-term horizon. It presents us with a very large opportunity to build one of the world’s leading digitally led multiplatform global business media companies.

How do you broaden the Bloomberg audience from finance?
That process began long before I arrived. It began with the rapid expansion of Bloomberg News over the last decade. The heart of the coverage is finance and markets, but [those consumers] care about business. A seminal moment for the company was in 2009 when we acquired Businessweek. It was an acknowledgment that Bloomberg was already reaching consumers outside the core finance market.

Read more here.

Josh Zumbrun

Fed reporter Zumbrun leaving Bloomberg

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Joshua Zumbrun, who has covered the Federal Reserve Board and the U.S. economy for Bloomberg News for the past four years, is leaving the news organization.

In an email to Talking Biz News, Zumbrun said he has a new job lined up, but declined to say what it is.

“It was a really tough decision to leave because I have so much admiration for my colleagues at Bloomberg,” said Zumbrun. “I do have a new opportunity lined up. But first I am taking a brief but much-needed sabbatical.”

Before Bloomberg, Zumbrun spent two years as a Washington correspondent for Forbes magazine. He also worked for The Washington Post for four years.

Zumbrun is a Georgetown University graduate in international economics.

9781118842263_cover.indd

Bloomberg Way unveils 25th anniversary edition

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Bloomberg News is turning 25 next year, and in advance of its birthday the news organization published the 25th anniversary edition of its style and reporting guide “The Bloomberg Way.”

The book by editor-in-chief Matthew Winkler with Jennifer Sondag, standards editor for Americas, will be available via the Bloomberg terminal and Amazon.com this week. While the guide continues to talk about markets coverage, Bloomberg style, and covering companies, there are updated sections around topics including social media, ethics and source development

Here’s an overview of some of the updates and changes:

  • Preparation and source development: The latest edition has a new section called “How to Prepare” and offers advice about touching base with sources, looking at data and planning for breaking news.
  • Ethical principles: While the key ethical standards are from the ethics chapter in the previous edition, the new book explores how to avoid conflicts of interest – actual, potential or perceived. It also talks about being honest in talking with sources and reporting news, writing accurately and without bias, and promptly correcting errors. It also discusses how the news division covers customers of Bloomberg LP, including new details on the separation between news and sales.
  • Social media: The latest edition expands guidelines for using social media. The book states, “Social media platforms are a powerful way to promote our work and expand the reach of our reporting when used responsibly. Sites such as Twitter and LinkedIn allow us to stay connected to a broader audience as well as to the people and companies we report on. Social media can also be a valuable tool for research or finding new contacts.”
  • Bloomberg First Word: The book highlights the difference between First Word and a Bloomberg News story. First Word began in 2010 to give terminal clients quick, condensed bits of news.

Proceeds from sales of “The Bloomberg Way” will be donated to The Committee to Protect Journalists, a nonprofit that promotes press freedom.

Bloomberg

Bloomberg TV seeks coordinating producer

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Bloomberg TV is seeking a coordinating producer with a control room track record.

This individual will work with the senior producer to conceive and execute an entire two-hour program, from enterprising segments and elements, to stacking the lineup, and timing out a live show. This position offers an opportunity to leverage your knowledge of and passion for financial markets and business news. This is a fast paced environment where you will need to thrive under pressure. The initial assigned show is expected for the morning. Flexibility for hours is essential.

Qualifications:

-Bachelor’s degree or equivalent experience
-3+ years of recent and relevant experience producing television news in a live control room
-Track record of experience in live and taped segment and field production
-Strong writing and copy supervising skills
-Experience with digital media platforms and integration with the ability to contribute to the creation and production of digital video and graphics
- Flexibility for hours is essential

To apply, go here.