Thomson Reuters Corporation ( ) is a Canadian multinational and mass media information company. The company was founded in Toronto, Ontario, Canada, where it is headquartered at 333 Bay Street in Downtown Toronto. Thomson Reuters cross shares are listed on the New York Stock Exchange (NYSE: TRI) and the Toronto Stock Exchange (TSX: TRI).
Thomson Reuters was made by Thomson Corporation's purchase by British company Reuters Group in April 2008, and majority owned by The Woodbridge Company, parent company for the Thomson family. Thomson Reuters was ranked as Canada's leading "brand company" in the 2010 Interbrand Best Brands ranking. Thomson Reuters operates in over 100 countries, and has over 45,000 employees.
Video Thomson Reuters
Histori
The Thomson Corporation
The company was founded by Roy Thomson in 1934 in Ontario as publisher of The Timmins Daily Press. In 1953, Thomson acquired the Scotsman newspaper and moved to Scotland the following year. He consolidated his media position in Scotland in 1957 when he won a franchise for Scottish Television. In 1959, he bought Kemsley Group, a purchase that eventually gave him control of the Sunday Times. He separately acquired the Times in 1967. He moved into the aviation business in 1965, when he acquired Britannia Airways and became an oil and gas exploration in 1971 when he participated in a consortium to exploit reserves in the North Sea.. In 1970, following the death of Lord Thomson, the company withdrew from national newspapers and broadcast media, sold the Sunday Times and Scottish Television and instead moved to publishing, buy Sweet & amp; Maxwell in 1988. The company is today known as International Thomson Organization Ltd (ITOL).
In 1989, ITOL merged with Thomson Newspapers, forming The Thomson Corporation. In 1996, The Thomson Corporation acquired West Publishing, a research and legal solutions supplier including Westlaw.
Reuters Group
The company was founded by Paul Julius Reuter in 1851 in London as a business transmission of stock market quotations. Reuter established the "Submarine Telegraph" office in October 1851 and negotiated a contract with the London Stock Exchange to provide the share price of a continental exchange in exchange for access to London prices, which it then supplied to a stockbroker in Paris, France. In 1865, Reuters in London was the first organization to report the killing of Abraham Lincoln. The company was involved in the development of radio usage in 1923. It was acquired by UK National & amp; Provincial Press in 1941 and first registered on the London Stock Exchange in 1984. Reuters began to grow rapidly in the 1980s, expanding the reach of its business products and expanding its global reporting network for media, financial and economic services: Key product launches include Equities 2000 (1987), Dealing 2000-2 (1992), Business Briefing (1994), Reuters Television for financial markets (1994), 3000 Series (1996) and Reuters 3000 Xtra service (1999). Reuters Acquisition
Thomson Corporation acquired Reuters Group PLC to form Thomson Reuters on April 17, 2008. Thomson Reuters operates under a two-company structure ("DLC") and has two holding companies, both publicly listed - Thomson Reuters Corporation and Thomson Reuters PLC. In 2009, the company unified the double listed company structure and stopped its listing on the London Stock Exchange and NASDAQ. Now listed only as Thomson Reuters Corporation on the New York Stock Exchange and Toronto Stock Exchange (symbol: TRI).
On February 13, 2013, Thomson Reuters announced it would cut 2,500 jobs to cut costs in its Legal, Finance and Risk divisions. On October 29, 2013, Thomson Reuters announced it would cut 3,000 more jobs, mostly in the Legal, Financial, and Risk divisions.
Market position and antitrust review of Thomson Reuters merger
The Thomson-Reuters merger transaction has been reviewed by the US Department of Justice and by the European Commission. On February 19, 2008, both the Justice Department and the Commission cleared transactions that were subject to small divestments. The Department of Justice requires parties to sell copies of the data contained in the following products: Thomson's WorldScope, a global fundamental product; Reuters Estimates, a revenue estimation product; and Reuters Aftermarket (Embargoed) Research Database, a product distribution research analyst. Further proposed settlements require related intellectual property licenses, access to personnel, and transitional support to ensure that buyers of each set of data can continue to update their databases so as to continue to offer users viable and competitive products. The European Commission imposes the same divestment: according to the Commission's press release, "the parties commit to release a database containing the content set of the financial information product, along with relevant assets, personnel and an appropriate customer base to enable buyers from the database and assets quickly establishing itself as a credible competitive force in the marketplace in competition with joint entities, re-establishing pre-merger competition in their respective fields. "
These drugs are considered very small given the scope of the transaction. According to the Financial Times, "solutions proposed by competition authorities will affect no more than $ 25 million of combined revenues of $ 13 billion plus revenues of the new Thomson Reuters group."
The transaction was cleared by the Canada Competition Bureau.
In November 2009, the European Commission opened a formal anti-trust process against Thomson Reuters regarding potential violations of EC Treaty rules regarding abuse of dominant market position (Article 82). The Commission investigates Thomson Reuters practice in the real-time market data field, and in particular whether customers or competitors are prohibited from translating Reuters Instrument Code (RIC) into alternative identification codes from other data feeding suppliers (so-called 'mapping') to the detriment of competition. In December 2012, the European Commission adopted a legally binding decision on the commitment offered by Thomson Reuters to create a new license ("ERL") that allows customers, for a monthly fee, to use Reuters Instrument Codes (RICs) in applications for data sourced from Thomson Reuters' consolidated data feed data they have moved.
Reuters purchase process
Historically, no one is allowed to own more than 15% of Reuters, under the first principle of Reuters, which states, "Reuters will never pass into the hands of any interest, group or faction." However, the restriction was waived for purchase by Thomson, whose parent company, The Woodbridge Company currently owns 53% of the enlarged business. Robert Peston, business editor at BBC News, stated that this has alarmed Reuters reporters either because they fear that Reuters's journalism business will be marginalized by the business of providing financial data from joint ventures, and because the threat to Reuters's reputation of journalism is not biased by the appearance of one holder majority share.
Pehr Gyllenhammar, chairman of the Reuters Founder's Stock Company, explained that the Reuters Trust's First Principles had been lifted for the Thomson family because of the poor financial situation that Reuters had made, saying, "Reuters's future is preferred to its principles.If Reuters is not strong enough to "He declared, had never met David Thomson but had discussed the matter with Geoff Beattie, president of Woodbridge, that the Thomson family agreed to vote as directed by the Reuters Founders Share Company on any issues that trusted by inspectors to threaten the five men. Reuters Trust principles. Woodbridge will be allowed exceptions from the First Principle as long as it remains controlled by the Thomson family.
Maps Thomson Reuters
Operation
The chief executive of the joint company is James C. Smith, who is chief executive for the professional division, and the chairman is David Thomson.
The company in 2014 is organized around eight divisions across the finance, media, legal and science industries:
- Finance & amp; Risk
- Legal
- Pharmacy & amp; Life Sciences
- Reuters News Agency
- Taxes & amp; Accounting
Former division:
- Intellectual Property
- Scientific & amp; Scientific Research
In 2018, Finance & amp; The risk division earns more than half the company's revenue.
Thomson Reuters competes with Bloomberg L.P., in collecting financial and legal news.
Acquisition and sale of divestiture
Thomson Reuters has sponsored Canadian golf champion Mike Weir and his AT & amp; T Williams Formula One. It also sponsors the Marketplace, a radio show from American Public Media.
Thomson Reuters donated millions of dollars to the Clinton Foundation.
See also
- List of news agencies
- List of companies named after people
- Companies listed on the Toronto Stock Exchange (T)
- Companies listed double
- List of client portals
- List of companies based in New York City
- Software industry in Telangana
- Related
- Thomson Reuters Citation Laureates
- Thomson Reuters Business Classification
- Thomson Reuters Messenger
- Thomson Reuters Index
- Thomson Reuters/CRB Index CoreCommodity
- Thomson Reuters league table
- Thomson Reuters Realizes Volatility Index
- Thomson Reuters Foundation
References
Further reading
- Peter Kaplan (2007-05-04). "The Thomson Reuters deal will raise the US antitrust problem". Reuters.
- Penny Crosman (2007-05-16). "How Does Thomson Reuters Marriage Affect Customers?". Wall Street & amp; Technology . CMP Media LLC.
- Ian Austen (2007-05-09). "Combined Thomson Reuters Will Challenge Bloomberg". New York Times .
- Jerry Bowles (2007-06-18). "Reuters uses social media software to launch communities around environmental markets". News WebPro.
- Ovide, Shira (2011-07-26). "Crunch Time at Thomson Reuters". Wall Street Journal . Ã, " CEO Glocer Being Under Pressure After Restructuring Supported by Controlling Families ".
External links
- Official website
Source of the article : Wikipedia
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