Tag Archives: Bloomberg

Meg Tirrell

CNBC hires Tirrell from Bloomberg News

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Nik Deogun, senior vice president and editor in chief at CNBC, sent out the following announcement on Thursday:

I am pleased to announce that Meg Tirrell will join CNBC as a general assignment reporter, effective April 7th.  Meg’s primary focus will be covering the biotechnology and pharmaceutical beat and will appear on both CNBC’s Business Day programming and CNBC.com.

Meg comes to us from Bloomberg News, which she joined in 2007.  At Bloomberg News, she led the coverage of the biotechnology industry and reported on big merger & acquisition stories, including Amylin Pharmaceuticals and Genzyme, proxy fights at Forest Labs and Vivus as well as important FDA decisions. She also contributed to Bloomberg Television and Bloomberg Businessweek.

Meg holds a master’s degree in journalism from Northwestern University and a bachelor’s degree in English and music from Wellesley College.

Please join me in welcoming Meg to CNBC.

China

NYTimes CEO takes swipe at Bloomberg

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Mark Thompson, the CEO of the New York Times Co., poked rival Bloomberg News on Wednesday at a media conference when asked about the latter’s decision not to publish stories critical of people connected to the Chinese government for fear of hurting its business.

Matthew Garrahan of the Financial Times writes, “Mr Thompson was speaking days after Peter Grauer said Bloomberg ‘should have rethought’ investigative articles about China because of the potential harm to the company’s business information operation in the country.

 ”‘To state the obvious, Mr Grauer seems to have a rather different conception of what journalism should consist [than the New York Times],’ said Mr Thompson at the FT Digital Media conference in London.

“‘We don’t think you need to rethink investigative journalism,’ he added. ‘There are commercial realities…but it depends on what your priorities are.’

“The New York Times and Bloomberg have both been penalised by the Chinese authorities over investigative articles that have focused on the wealth accumulated by the families of senior members of the ruling Communist party.

“Fewer visas have been given to journalists at the two companies while sales of Bloomberg terminals in China declined after a 2012 article that explored the family wealth of Xi Jinping, China’s president.”

Read more here.

Bloomberg

Richardson: “Uncomfortable” with spiking stories

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Ben Richardson, the former editor at large at Bloomberg News who quit earlier this month due to concerns about the news organization’s decision to spike stories critical of businessmen tied to the Chinese government, spoke Tuesday about the move with David Folkenflik of “All Things Considered.”

In the segment, Richardson is quoted as saying, “It was a decision I felt very uncomfortable with.” Folkenflik also reported that Richardson plans to set up a not-for-profit website that will pursue such stories.

Folkenflik also reported that company founder Michael Bloomberg attended the news service’s daily editorial meeting on Monday and stated that all editorial decisions would be made by editors, not manages on the business side of the company.

Bloomberg’s comments run counter to those said last week by Bloomberg LP chairman Peter Grauer, who spoke in Hong Kong and said that the company needed to rethink its investigative journalism efforts. Bloomberg has seen sales of its terminals in China slow after it published articles connecting businesses to Chinese government leaders.

Said Richardson in the Folkenflik piece: “It’s a no-win situation.”

To listen to the segment, go here.

bloomberg

Ben Richardson speaks and wants Bloomberg to respond

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Ben Richardson, the Bloomberg News editor who was involved in editing the spiked China stories, spoke with James Fallows of The Atlantic about how he decided to resign from the company and what happened.

Here is an excerpt:

James Fallows: Four months ago, during the Mike Forsythe episode, Bloomberg officials contended that his stories just “weren’t ready,” and that the accounts in the NYT and elsewhere were misleading or incomplete. What was your understanding of the episode and whether the company’s claims were correct?

Ben Richardson: I was one of the two editors on the story that was spiked last year, and one of three who helmed the 2012 stories on the hidden wealth of China’s Communist Party leaders, so I have a pretty intimate knowledge of what happened. Unfortunately, I am bound by a confidentiality agreement that prevents me from disclosing the details. That said, much has already become a matter of public knowledge.

I felt the NYT and FT articles were a fair account. As often happens in news coverage, the stories painted the picture in stark black and white when in reality it was more nuanced. However, the contention that the story “wasn’t ready” is risible: the only proof of readiness is publication. The real question is whether the story had any merit, and if it did, how could we get it to press?

That’s a simple question. So if Bloomberg felt the story had no merit, then why has the company not explained its reasons? Four seasoned, veteran journalists (with help from many others on the periphery) laboured for months on this story. Were we all wrong? All of us deficient in news judgment?

Read more here.

Ben Richardson

Video mocks Bloomberg in China with another resignation

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Next Media Animation has posted another video making fun of Bloomberg News in the wake of the resignation of editor at large Ben Richardson due to Bloomberg’s handling of sensitive stories in China.

Next Media also produced a video when it was disclosed that Bloomberg had held the stories for fear of upsetting the Chinese government.

bloomberg

Bloomberg’s Richardson quits over handling of China story

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Ben Richardson has resigned from Bloomberg News after 13 years to protest editors’ handling of an investigative piece reported from China – a story his bosses feared would get them expelled from the country, reports Jim Romenesko.

Romenesko writes, “Richardson, who was an editor at large for Asia news (he edited the enterprise stories and columns), writes in an email: ‘I left Bloomberg because of the way the story was mishandled, and because of how the company made misleading statements in the global press and senior executives disparaged the team that worked so hard to execute an incredibly demanding story.’

“He adds:

“Throughout the process, the threat of legal action has hung over our heads if we talked — and still does. That has meant that senior management have had an open field to spin their own version of events. Suffice to say, what you read in the NYT and FT [both stories linked above] was a fair summation.

Clearly, there needs to be a robust debate about how the media engages with China. That debate isn’t happening at Bloomberg. Clark Hoyt supposedly reviewed the story and declared that it wasn’t ready for publication. But, to my knowledge, he didn’t ring or contact any of the team who worked on the story to discuss it. We don’t even know which version of the story he reviewed. Certainly the final version that I saw had been gutted and narrowed down so much that it could be dismissed as a story about ‘a bankrupt theatre chain’. The reporters who worked on the story for months didn’t get to review the copy before it was unilaterally spiked on a conference call with a ludicrous amount of top brass.”

Read more here.

Richardson has been government and policy editor for North Asia. He ran the company’s financial coverage in Asia, and before that he was responsible for the stock market team. He also had stints on commodities, energy, and corporate finance, and was the training editor for the region for two years. Before Bloomberg, Richardson was a senior editor on the business desk of the South China Morning Post, and had stints on the Irish Times, Hong Kong Standard and Eastern Express.

Seeking Alpha CEO David Siegel

Seeking Alpha president discusses anonymous writers

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Seeking Alpha President David Siegel discusses crowd-sourced stock opinions on Bloomberg Television’s “In The Loop.”

He also addressed the issues regarding Seeking Alpha allowing writers to post anonymously on its website.

“Our focus is on building the best possible site we can with a vigorous editorial review,” said Siegel in the interview. He said that Seeking Alpha knows the identities of its anonymous bloggers and that it does a vigorous background check on them.

Forbes billionaires 2

Forbes unveils real-time billionaires list

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Forbes announced Monday a new digital tool that provides real-time updates on the net worth and ranking for each individual featured on the Forbes world’s billionaires list.

Bloomberg News, which competes with Forbes in covering billionaires, launched The Bloomberg Billionaires Index in January 2013 that includes the top 100 billionaires worldwide and features transparent data visualization tools that let you easily slice and dice the data. That followed the April 2012 launch by Forbes of a feature called the Real-Time Billionaire Tracker, which follows the ups and downs of some of the 50 richest people in the world.

The new Forbes tool follows more than 1,600 billionaires around the world.  The value of individuals’ public holdings will be updated every 5 minutes when respective markets are open.  Billionaires who only have holdings in private companies will have their net worth updated once a day.

“The world’s wealthiest continue to have an impact on huge swaths of the global economy,” said Luisa Kroll, wealth editor at Forbes, in a statement.  “By being able to track their movements on a daily basis, not once a year, readers will have a much better sense of where these billionaires’ influence is being felt and how their fortunes are ebbing and flowing along with the markets.”

For the launch of the new wealth tracking platform, Forbes will update the net worth of the more than 1,600 individuals who qualified for the Forbes world’s billionaires list this year.  Forbes will continue to add to that group as new billionaires are discovered.

 

bloomberg

Bloomberg Media hires execs to oversee new digital efforts

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Bloomberg Media has hiredformer AOL Live president Nathan Richardson and Inside.com chief content officer Gabriel Snyder to oversee its new digital efforts, reports Jason Abbruzzese of Mashable.

Abbruzzese writes, “Snyder and Richardson will be tasked with figuring out how to take the work of more than 2,400 journalists in more than 150 bureaus on innovative platforms for new readers.

“‘Our strategy calls for building out a portfolio of new digital assets that better align our content offerings to global business audience segments,’ Smith wrote. ‘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.’

“Richardson joins Bloomberg after a short run as president of AOL Live, a project that has been put on hold since his exit. Before that, he founded Waywire and helped launch Gilt Man and Gilt City.

“He said Bloomberg was well-positioned to take advantage of growing demand for business news from emerging markets by creating new platforms for its existing content and data tools.”

Read more here.

Bloomberg keyboard

Bloomberg seeks consumer reporter in Europe

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Bloomberg News seeks a consumer news reporter in the Geneva or Zurich bureau.

The successful candidate would cover Nestle, Swatch and Richemont as well as other consumer companies in the country.

The reporter will also write broader stories about corporate trends in Switzerland and FMCG. The successful applicant is expected to produce exclusive breaking-news stories, executive interviews and enterprise pieces. The reporter will also handle spot news such as mergers and acquisitions, personnel changes, earnings, and collaborate with reporters in the region to break news under real-time deadlines.

Qualifications:
-Bachelor’s degree or equivalent experience is essential
-Journalism experience is essential
-Experience of working in a real-time news environment in desirable
-Experience of reporting on European consumer companies is desirable
-Fluency in French is desirable

To apply, go here.