- February 11, 2014
- Posted by: David Tabaka
- Category: Market Data, Media, News
The former mayor’s news empire suffered a snooping scandal, but Reuters failed to pounce
When news of Bloomberg’s “snooping” scandal flashed up on screens across the City last May, Jim Smith must have rubbed his hands in glee.
Thomson Reuters’ chief executive knew he needed something spectacular to reboot his company’s flagging financial division. Surely a mishap by his closest competitor was just that.
Yet several months on, the gap between the two leading data providers in the financial services market has widened even further with the latest figures from analysis firm Burton-Taylor International Consulting LLC making unpleasant reading for Thomson Reuters. The failure of the Eikon trading product it launched back in 2010 to take on Bloomberg’s $20,000-a-year (£12,200) terminal leaves it fighting a battle some believe it has already lost.