Feb 102014
 February 10, 2014  Posted by  Breaches, Business

Jamie Dunkley reports:

Bloomberg’s “snooping” scandal failed to prevent the financial-data specialist increasing its dominance over Thomson Reuters in 2013 as clients continued to use its $20,000-a-year (£12,000) terminals.

The US company, which was founded by former New York mayor Michael Bloomberg in 1982, was forced into making a series of apologies last May when it admitted letting its reporters use confidential information as they worked on stories.

Banks including Goldman Sachs and JPMorgan were among those targeted and the Bank of England described it as “reprehensible”.

Despite this, estimates from analysis firm Burton-Taylor show that Bloomberg’s worldwide financial markets revenues actually grew from $7.9 billion to $8.2 billion last year while Thomson Reuters fell from  $7.5 billion to $7 billion.

Read more on The Standard.

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