Tag Archives: Thomson Reuters
by Chris Roush
Paul Casciato, a lifestyle news editor for Europe, the Middle East and Africa for Reuters, sent out the following farewell message on Thursday:
Farewell and good luck. I shall miss you all.
I remember the great Nick Moore telling me once: “There are those who are of Reuters and those who are with Reuters.” I strived to be the former and I hope I have earned the honour. It has been the best 22 years of my life working with so many talented, fun and outrageous characters and I wish you well.
Today is my last day and I leave much as I arrived — in awe of the amazing people who have dedicated their lives to shining a light on the dark corners of humanity and laughing at the absurd hilarity of the world around us. The Baron has provided me with a life of adventure and fulfilment that few companies can offer, even in these days of modern travel.
I’ve covered the Rolling Stones, met the queen and then Johnny Rotten, countless presidents, prime ministers and other notorious folk, reported from the Olympics, scaled one of the world’s biggest mountains, landed sitting backwards on aircraft carriers in the blinding sunlight of the Gulf, shivered all night on a rooftop overlooking Israeli barricades in the West Bank, danced wildly on the last holiday dedicated to one of Africa’s “Big Men”, cowered under a Balkan artillery barrage and held back the tears in the Iraqi desert as a thin, 50-something POW told me how he had marched out to face the world’s only superpower in his battered green plastic flip flops and then surrendered when nearly everyone around him was dead.
There are other memories, but much fewer than the many of you who transported me during my time on the World Desk and as EMEA ents & lifestyle editor to your far-flung postings. I shall miss your phone calls, emails and screentops, but mostly your brilliant stories, your kindness, humour, camaraderie and friendship. Many of the bravest and best of you are still out there. Take care. Lately I could tell that my time here was coming to an end.
I first took an interest in journalism after reading Evelyn Waugh’s “Scoop” in 1991. Despite the satire, the life of a “newsman” seemed to me a perfect ruse to escape the dreaded prospect of law school and settling down to “your career” as my parents put it.
Two things struck me with some finality in the last year.
1. I finally impressed my father. After years of phoning this engineer, inventor, businessman and former maths and physics academic who designed and built the first computer in Canada to impress him with my latest exploit I finally got a different response to the standard monotone: “That’s nice” reply. He got excited because I had interviewed Kip Thorne and met Stephen Hawking, gods of the maths and physics world.
2. One of Evelyn Waugh’s great granddaughters came to do work experience with me for a week or two. Every day I asked her if she had brought her “cleft sticks” with her and she looked at me as if I had three heads. Finally, on the next to last day I said: “You know, cleft sticks, ‘Scoop’? “Oh that,” she replied looking somewhat sheepish. “I’ve never read it.”
Casciato has been a correspondent and editor for Reuters since 1992. He has reported and edited a wide range of political, general news and business stories that run the gamut from war to wage inflation. He has reported from Toronto, New York, London, Dublin, Jerusalem, the West Bank, Kenya, Tanzania, Washington, the Balkans, Kuwait, Bahrain and Iraq.
by Chris Roush
Longtime Reuters journalist Barry Moody sent out the following email to his colleagues on Thursday:
The time has finally come to put my last two pigeons in a pie and hang up the laptop and crackberry with the ancient typewriter, Tandy and telex tape. After 43 years in the service of the Baron I am finally bailing out.
When , as a callow and awestruck youth, I entered the hallowed portals of 85 Fleet St and a cacophonous and smoky newsroom that seemed straight out of the pages of “Scoop” in 1970, I expected to be dismissed within months, not still serving the Baron longer than many of you have lived. So I feel particularly fortunate to have lasted so long, seen so many extraordinary events and had the opportunity to meet so many remarkable public figures, from the saintly to the evil.
I have reported from more countries than I can remember on every continent and been posted to Italy four times (ed: correct), Tanzania, Kenya and South Africa, Hong Kong, Australia and the Pacific, and America.
I spent seven years as Middle East and Africa editor, a turbulent period of great excitement, enjoyment, exhaustion and tragedy. It included Reuters huge success in covering the 2003 Iraq war but also the heartbreaking deaths of five brave colleagues, which still weigh on me.
I have also covered three Olympics and three World Cups and had the remarkable good fortune to spend the last few years in the two places I love most, Africa and Italy.
It has been stimulating, fulfilling and on several occasions very frightening – – and I am not only referring to meetings with senior executives. I have seen and lived in places I could only have dreamed of when I first arrived in Fleet Street.
Above all, I had the honour of working with an extraordinary corps of reporters, video journalists and photographers, particularly our local staff in the Middle East and Africa – the bravest and most resourceful people I know.
My passion for the excitement of agency journalism is as strong as ever, as is my belief in the core principles that make Reuters so unique and so great. There are still places where I would love to work, and I feel like I could have kept going for years more. So it will be a huge and daunting wrench to depart.
But I have stayed longer than most and it is time to finally think of life and activity away from the mother ship. I salute you all and urge you to remain vigilant against any attempt to dilute those principles. Reuters is a very special place and its core ideals must be protected and nourished.
My email address after Friday will be firstname.lastname@example.org. Please do stay in touch. I have made some true friends at Reuters, a bunch of people with fantastic wit and intellect whose company is incomparable. For those in London or nearby, I will be having drinks in a couple of weeks. Watch this space.
Most recently, Moody was cluster chief in charge of Italy, Spain, Portugal and Greece. He has previously worked all over the world for Reuters. His positions have included Americas production editor, World Desk editor, Middle East Editor and Africa editor.
by Chris Roush
Pedro da Costa, an economics and Federal Reserve Board reporter for Reuters, announced Wednesday that he is leaving the news service.
In an email to his colleagues, da Costa wrote:
I will miss and always cherish the place and people that turned me from a just a kid trying to make it New York City into a journalist who can say he spent nearly 13 years at one of the coolest, most unique news organizations in the world.
The subject line of da Costa’s email was: “Command comma T: I’m out.”
In the old Reuters DOS-based publishing system, known as Decade, staffers would hit the command key, which is the “~” button, then the comma, then lowercase “t.” That would sign you out of the system.
Da Costa also spent six years covering the markets for Reuters. He has a bachelor’s degree from the University of Chicago and a master’s degree in international relations from the University of California, San Diego.
In 2001, he received a Deadline Club Award for Online Enterprise Reporting from the Society of Professional Journalists’ New York chapter for “The Ties that Bind at the Federal Reserve,” which exposed lucrative leaks from Fed insiders to former staffers in the private sector and led to an official policy change at the central bank.
by Chris Roush
Reuters editor in chief Stephen Adler sent out the following email to the editorial staff on Wednesday:
A few months ago, Alix Freedman and I encouraged everyone in Reuters to renew our commitment to the Thomson Reuters Trust Principles. These guiding principles of integrity, independence and freedom from bias are integral to the way we work and essential to our well-earned reputation as the most credible and respected news organization in the world.
Our strong Anti-Bribery and Anti-Corruption policy helps us stay true to these principles, offering further guidance from the Code of Business Conduct and Ethics to navigate what is appropriate in terms of gift giving, entertaining and retaining third parties. As journalists, we have an important responsibility to make sure the choices we make every day align with Thomson Reuters high standards, and to ensure that the third party freelancers and consultants that we engage understand and comply with these high standards, everywhere we operate. The choices we make every day matter – we must always refrain from making or offering improper payments or benefits and keep accurate and fully transparent books and records. I’ve said it before but it’s worth repeating: No story is worth damaging our reputation.
New, mandatory learning
To ensure that all Editorial employees are well informed on this policy, we will soon be releasing a mandatory 10-minute online course. Please watch for an email from AccelusLMS@thomsonreuters.com with access instructions – and make time to complete the course as soon as possible. The system will track participation and send regular reminders to those who need to complete it.
Your knowledge and ongoing support of this policy is important to preserving our reputation. If you ever have questions about whether a gift, entertainment expense, payment or other benefit is appropriate, don’t hesitate to speak with your manager or write to Ask the Ethics Editor for a prompt and private response from Alix or Gail Gove, our chief counsel.
by Chris Roush
At least five business news organizations have won Eppy Awards, which recognize the best of online media, from Editor & Publisher.
CNNMoney.com was named the best business and financial website with more than 1 million unique monthly visitors. Crain’s Chicago Business received the Eppy for best business and financial website with less than 1 million unique monthly visitors.
The Financial Times won the Eppy for best investigative/enterprise feature on a website with more than 1 million unique monthly visitors.
The Financial Times also won the Eppy for best mobile website with more than 1 million unique monthly visitors.
Reuters won the Eppy for besty mobile application with more than 1 million unique monthly visitors.
See all of the winners here.
by Chris Roush
New York Times business editor Dean Murphy sent out the following staff hire announcement on Tuesday:
Matt Goldstein, Wall Street investigations editor at Reuters, to join BizDay as a DealBook/Finance reporter
Matt is one of the most respected and experienced journalists on Wall Street, and he has been a formidable competitor during stints at Reuters, BusinessWeek, TheStreet.com and SmartMoney.com. For the past four years, Matt has been a player/coach at Reuters, coordinating coverage of Wall Street investigations and hedge funds while also writing about some of the financial world’s boldest face names – including Steven A. Cohen, Philip Falcone and Dan Loeb.
Matt, who has twice been a finalist for a Gerald Loeb Award in business journalism, has a nose for scams. He was one of the first reporter to raise serious questions about Stanford Financial, the financial firm that turned out to be giant Ponzi scheme. His feature “Suite Scams” exposed virtual offices as a breeding ground for financial fraud, including highlighting a New Jersey hedge fund manager who later pleaded guilty to fraud.
Matt was also a columnist at Reuters, winning a SABEW award for best business column; a senior writer at BusinessWeek; Wall Street editor at TheStreet.com, and a senior reporter at SmartMoney.com. After taking a break from journalism to get a law degree early in his career, he also worked for four years at the New York Law Journal.
Adrienne Carter, who was one of Matt’s editors at BusinessWeek, is among the BizDay staffers who know Matt well. Aside from vouching for his journalistic credentials, Adrienne says Matt makes a good fit for the “BizDay family.” After writing a magazine cover story about death bonds, for example, he and his colleagues created a life-size, cardboard cutout of the grim reaper. “Morty, as he was called, became a beloved member of the BusinessWeek finance team,” Adrienne recalls.
And his new job comes just in time for Halloween.
by Chris Roush
Thomson Reuters, the parent company of the Reuters financial wire service, reported earnings Tuesday that beat analyst expectations, reports Jennifer Saba of Reuters.
Saba writes, “Excluding special items, the company reported a profit of 48 cents per share, beating Wall Street expectations by 4 cents.
“The company said it planned to take a $350 million charge to accelerate a cost-saving strategy, primarily in the Financial & Risk division. It will eliminate about 3,000 positions.
“Thomson Reuters Chief Executive Officer Jim Smith said in a statement that the company had sold more than 100,000 Eikon desktops to date.
“‘Though we continue to expect challenging conditions in the coming quarters – particularly with the largest global banks — these are significant steps in returning our financial business to a growth footing,’ he said.
“Smith had said he expected net sales in the Financial & Risk division to turn positive in the second half of this year. Net sales, which strip out cancellations, are an important indicator because they lag revenue by about 12 months.”
Read more here.
by Chris Roush
Gregory Roth, a senior editor and correspondent for Reuters, has left the news organization for a job at JP Morgan Asset Management, where he is vice president of media relations.
In his farewell note to colleagues, Roth wrote:
“I also very much look forward to watching the group’s success and your individual success from afar. You are an amazing group of people. Despite the occasional stress, at the end of the day, what I’ll take away most from this experience is the people I’ve had the great fortune of working together with.
“I look forward to seeing you again soon (even after the final round!)”
At Reuters, Roth wrote about “fresh capital” and the pension funds, sovereign funds and endowments that invest in private equity.
Prior to joining Reuters, Roth was a senior producer for The Wall Street Journal, where he was responsible for the News Hub, a twice-daily live business video program that appears on WSJ.com. Prior to that, he was a Web editor and business producer for NYTimes.com. He has also worked for CNBC and the Financial Times.
Roth has an M.B.A. from Columbia Business School, a Masters from Columbia’s Journalism School and a B.A. from Duke.
by Chris Roush
Peter Szekely, the secretary-treasurer of the Newspaper Guild of New York, writes about what will happen at Reuters, where he worked for 25 years, when the news organization loses journalists due to its current buyout offer.
Szekely writes, “In 1997 – three Editorial managements ago – there was another buyout with a similarly vague and unexplained purpose targeted at anyone with at least 10 years of service. Then, as now, the most experienced journalists tended to be in the Washington bureau, where, even after 18 years with the company, I was still considered a kid. And so, when the buyout was offered, that’s where most of the takers were.
“The 10 Washington journalists – nearly one-quarter of the bureau reporting staff – who eventually left included many of our best, some who had been with Reuters since the Watergate hearings.
“Maybe the most memorable was Mike Posner, a beloved character like you’ll never find in journalism today. Always disheveled and with a reliable ink stain on his shirt pocket, Mike knew everybody in town and had a knowledge base going back to his days as a UPI reporter during the Kennedy administration. After Reuters, Mike continued his career at the National Journal’s Congressional Daily website almost until he died two and a half years ago.
“To me, the greatest satisfaction anyone could ever have in a career, greater than any prize, is being in the most perfect working environment you can imagine – and knowing it at the time. I was lucky enough to realize what I had, but only barely before it was all gone. Everyone in the bureau was a character with a role to play. We watched each other’s back. We were really a team, like an infield that can turn a double play blindfolded.
“Near the end of the buyout’s 45-day consideration period, a few of my co-workers started coming forward. Many waited until the last day (a smart strategy if you’re considering the current buyout). The excitement grew. Everyone gathered at the National Press Club bar that Friday afternoon in May. As each new buyout taker showed up to declare ‘I’m outta here,’ there was another cheer and another round. It was a great party.
“But a commensurate hangover followed. The following Monday was probably my most depressing workday in more than 25 years at Reuters. The bureau was quiet and lifeless, a gaping hole where its soul used to be. And for me, there was another issue, something I hadn’t expected. On Friday, I was still a kid, but now, on that Monday, that was gone forever.”
Read more here.
by Chris Roush
At least four Reuters employees have decided to leave the company following the dissolution of Reuters Next, an expensive and ambitious consumer-facing web site, reports Joe Pompeo of Capital New York.
Pompeo writes, “‘It is with more than a tinge of sorrow that I want to give details of changes coming our way at reuters.com associated with the discontinuation of the Reuters Next project,’ wrote U.S. managing editor Brian Tracey this afternoon in a memo obtained by Capital. ‘Megan McCarthy, Colin McDonald, John Peabody and Chad Matlin (from the Opinion team) have decided to part ways with the company beginning next month.’
“One source called these four ‘the buyout takers.’ The company had previously indicated it plans to eliminate seven unionized positions as a result of the Reuters Next termination.
“According to our source, that leaves a rather slim crew devoted to reuters.com, which is now being revamped on a less grandiose scale than what had been planned with Reuters Next. The remaining New York-based reuters.com team includes newly-minted executive editor Dan Colarusso.”
Read more here.