Tag Archives: Markets coverage

Bob Ivry

Where the next big financial story is coming from

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Lauren Meller of Bloomberg’s public relations staff spoke with Bob Ivry, an editor-at-large for Bloomberg News, about covering the economic downturn in 2008 and writing a book that details its aftermath.

Here is an excerpt:

What is your current focus in terms of financial coverage?

As editor-at-large for global markets, I have a chance to help reporters do stories internationally. That’s exciting for me because most of my attention until now has been on the U.S.

Bloomberg News is in a unique position because we have skilled news gatherers all over the world. So I plan to exploit that by marshaling stories about oil, rice crops, currency trading and emerging-market economies, among other topics, on all six continents.

My opinion is that the biggest finance story may be migrating away from the major banks, where it’s been for about a decade, and will be for a while longer, to the less regulated so-called shadow banking system; hedge funds and other investors who shift billions of dollars on a daily basis. Keep an eye on Bloomberg News’ global markets team if you’re concerned about the next big thing.

You have a new book out, “The Seven Sins of Wall Street.” What was the genesis of this book and how important were the events of the last five years in providing inspiration?

“The Seven Sins of Wall Street” is based on my reporting from 2008 to 2013. It’s not always easy to detect trends when you’re in the middle of them, but at some point in 2010 it became clear to me that the biggest banks, which had gotten even bigger due to the bailouts, were acting as if the financial crisis had never happened. They were behaving badly. They were still getting billions of dollars in an endless bailout that hasn’t stopped even now, in January 2014.

Read more here.

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Bloomberg seeks stock market reporter in New York

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Bloomberg News is looking to hire a stock market reporter based out of its New York office.

The person in this role will produce clear and comprehensive stories on breaking news under real-time deadline pressure. This individual will summarize the U.S. stock market throughout the day and write stories on securities that are posting notable fluctuations.

The reporter will also write features on stock trading, equity strategists, and exchange-traded funds, as well as break news on important trends in investing. Candidates should be adept at corporate valuations and quantitative analysis, and have a strong writing background. A minimum of three years of business journalism experience is preferred.

Qualifications

- Bachelor’s degree or equivalent experience
- Minimum of three years of journalism experience is preferred
- Ability to write quickly and concisely under deadline pressure

To apply, go here.

Kaitlyn Kiernan

Options reporter Kiernan leaving WSJ for Law360.com

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Kaitlyn Kiernan, an options reporter for The Wall Street Journal and Dow Jones Newswires, is leaving the news organization.

Her last day is Friday. She wrote a daily story on activity of note in the options market. She also contributed to reporting on the U.S. stock market.

Kiernan is going to Law360.com to become private equity senior reporter, part of its mergers and acquisitions coverage expansion.

“This will be a totally new form of sourcing for me since so much of that reporting is on background and I can see who my competitors work with,” she said in an email to Talking Biz News on Friday.

In an email to her colleagues, Kiernan wrote:

I’m sad to say today is my last day at Dow Jones and The Wall Street Journal. I’m grateful for the time I’ve spent reporting alongside some of the world’s most talented reporters and editors. I will miss this place and many of the people here.

I wish you all the best and hope our paths cross again. Please stay in touch.

Kiernan had worked for The Journal/Dow Jones for the past two years. Before that, she was an intern at Bloomberg News. She is a Boston University graduate.

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Reuters seeks Asian stocks editor in Singapore

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Reuters News is seeking an experienced Asian Stocks Editor to drive an important part of the fast-changing financial markets file. The successful applicant for this high-profile role will drive all aspects of Asian stocks coverage, writing the big pan-Asian stock market stories, contributing to global equities stories and working with/mentoring stock market reporters in bureaux across Asia to develop and improve Asian equities coverage.

The successful candidate must have strong news judgment, a highly sophisticated understanding of financial markets and stock markets in particular, be an excellent writer and editor and have a keen analytical mind able to make connections between stock markets and other financial markets as well as political, economic and policy developments that may affect markets.

Reporting to the Asian Financial Markets Editor, the Asia Stocks Editor should be able to work independently, thrive in a real-time news environment and, crucially, be able to conceive, write and edit stand-back initiative stories that will help turn the Asian stocks coverage into an ideas-driven file that stands out from the competition. The chosen candidate will be able to produce content that serves the needs of a professional readership in the financial community as well as a general readership when the story requires it.

A strong record of managing reporters, managing across different cultures and countries, playing a leadership role and training/nurturing/developing reporters is essential.

Qualifications
- Highly sophisticated understanding of stock markets
- Deep knowledge of Asian financial markets
- Strong writing and editing skills
- Ability to generate story ideas independently
- Extensive pool of contacts among investors/brokers
- Ability to train/nurture/develop reporters
- Able to write real-time news and stand-back stories

To apply, go here.

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Bloomberg seeks editor for credits market

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Bloomberg News is seeking an Editor for our First Word Rates and Credits service, based in our New York office.

The individual in this role will be responsible for reporting on new issues in the corporate bond, structured finance or leveraged loans market, tracking deal flow and pricing developments from the announcement through the pricing stage and providing concise, on-the-spot stories on developments in the credit markets, capturing the elements of both “what’s happening” and “what it means,” particularly in the context of macroeconomic and political developments and monetary and fiscal policy.

Candidates must have deep and broad contacts among syndicate desks, investors and traders, with in-depth knowledge of the new issue pricing cycle and the mechanics of secondary trading. Knowledge of Bloomberg’s fixed-income functions and databases is also necessary; familiarity with the Treasury and MBS markets a plus. All candidates must have the ability and market-specific knowledge to immediately discern actionable information from breaking news and have strong writing skills as well as make new contacts and turn them into sources.

Qualifications:
-Bachelor’s degree or equivalent experience
-Minimum of five years of fixed-income reporting and writing experience and/or five years in a comparable industry role (strategist/analyst/trader)
-Strong work ethic, team player, ability to work calmly in high-pressure environment

To apply, go here.

The Watchdog That Didn't Bark

Journalism and the CNBC effect

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Steve Waldman of Washington Monthly reviews Dean Starkman‘s book “The Watchdog That Didn’t Bark: The Financial Crisis and the Disappearance of Investigative Journalism.”

Waldman writes, “Starkman spends most of his time analyzing the output of newspapers and magazines, and while he mocks CNBC, he largely ignores network and local TV news (still the sources of news for most Americans), NPR, Fox Business Network, and, for that matter, major providers of digital news such as Huffington Post or Yahoo! He probably figured they were inconsequential players in this drama, and that in and of itself deserves mention.

“And I wanted to know: In the few cases when reporters did write the stories critical of financial giants, why didn’t those stories explode on the public scene? Some interviews with the big-time business editors might have shed more light on why they ignored the growing evidence.

“The digital world is supposed to be able to take great stories—whether they’re in a small hamlet or New York City—and bring them to massive audiences. Why didn’t that happen? To some extent it’s because the 2004-2006 collapse predated the Twitter explosion and the rise of BuzzFeed, Upworthy, and other online news sources that are focused on accelerating virality. Starkman’s contempt for the digital evangelist types, aggregators, and other newfangled media is unfortunate, and may have blinded him to the profoundly important role that this new amplification system could play in accountability reporting of future scandals.

“But we’ll never know: Would those same stories have gotten more traction now because of this new amplification sector? Or would they have been crowded out by lists of ‘Betty White and Animals’ or ‘Cats Who Think They’re Sushi’?”

Read more here.

Andrew Ross Sorkin

Getting inside Wall Street to cover Wall Street

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Marshall Watkins of The Stanford Daily spoke with financial journalist Andrew Ross Sorkin of The New York Times and CNBC after he spoke at a campus event on Saturday.

Here is an excerpt:

TSD: As a financial journalist, how have you found the challenge of reporting on a close-knit community like Wall Street? At this point, would you consider yourself an insider?

AS: It’s funny. By default, as a journalist, I’m clearly an outsider to this world. Over the years, I’ve covered it for a long time…but in the book, part of the challenge was trying to get inside, trying to get the reader inside the room so he could see what’s being said.

It’s much harder than it used to be. As a reporter…this has been a major shift. When I started, there wasn’t  this industrial complex around protecting all these people from the press. It used to be you could call somebody up and understand what’s happening, get a little of the inside scoop or try and get some context for what’s happening…Now, there’s an army of lawyers, there’s an army of PR people, there’s a battalion of people whose entire job is to keep you as far away from the building as humanly possible. That has made, I would argue, reporting much more challenging in terms of really providing the sort of deep reporting and analysis…and it’s only gotten worse post-financial crisis.   Given so many of the rules have changed, we’re all getting the information at the same time, and there’s a lot more of it. The bad news is that for the kind of deep reporting that tries to really bring you inside what’s going on, that’s harder than ever, sadly.

Read more here.

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CNNMoney names new markets and investing editor

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CNNMoney.com managing editor Lex Haris sent out the following announcement:

I’m pleased to announce that Heather Long will be joining CNNMoney as Markets & Investing editor.

It became immediately clear to all of us that Heather has a lot of smart, innovative ideas for approaching coverage.

It’s easy to see why from her background: Heather is currently the assistant opinion editor at The Guardian, where she oversees an impressive stable of columnists.

Prior to that she was at The Patriot News in Harrisburg, Pennsylvania, where she was part of the team that won a Pulitzer for coverage of Jerry Sandusky.

She was a Rhodes Scholar in 2004 and after finishing at Oxford, stuck around London advising pensions and endowments on their investments.

We’re very happy to have her join the team – her first day will be March 24.

Reuters Logo

Reuters seeks deputy editor for Global Markets Forum

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Reuters is looking for an experienced, resourceful and well connected deputy editor to join its Global Markets Forum team in New York.

The successful candidate will help take Reuters’ most vibrant community for financial professionals to the next level by driving online discussions, landing big name guests through an extensive network and proposing innovative ideas to showcase unique Reuters content, expertise and global reach.

We are looking for candidates who have extensive market knowledge and sources, fluency with social media engagement techniques and the ability to think on their feet. This position also requires strong collaborative skills and favors a candidate who can take a global view in framing discussions.

The Deputy Community Editor will co-host the chatroom conversation and be responsible for all editorial aspects of the community in the Editor’s absence. All the community roles require flexibility and the Deputy is expected to manage the forum members and build relationships within the community. In particular, s/he will be tasked with maintaining a vibrant but civil conversation.

The Deputy will ensure that all members and staff adhere to our chatroom policies and will be expected to build strong relationships with key community contributors to help keep things running smoothly.

S/he will also play a particularly important role in working with the Community Producer to maintain and build our rolling program of guest interviewees and ensure that these generate wider discussion. The Deputy will also be closely involved in the production of an engaging, community-driven daily newsletter.

Read more here.

Stock-Market

Business Wire to stop serving high-frequency traders

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Business Wire, a company that publishes and distributes corporate earnings and other news releases, will stop providing its service directly to high-frequency trading firms, reports Steve Rothwell of the Associated Press.

Rothwell writes, “The decision comes after an article in the Wall Street Journal earlier this month highlighted the advantage that high-frequency trading firms had gained by getting the information directly from Business Wire, rather than accessing it through financial news wires such as ThomsonReuters, Dow Jones and Bloomberg.

“High-frequency traders typically use computer programs to scan corporate earnings and then place buy or sell orders within fractions of a second. By bypassing the newswires and getting the corporate releases directly, the traders were gaining a crucial advantage.

“Even though the direct distribution of its electronic feeds to a ‘handful’ of trading firms was not illegal, the company said it was concerned about its reputation. Business Wire made the decision after consulting with Warren Buffett, the chairman of Berkshire Hathaway, which owns the company.”

Read more here.