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The change could mark a seismic shift on Wall Street, which has struggled to free itself from Bloomberg’s clunky, expensive terminals but has found few viable alternatives. Bloomberg Terminal is a tool designed for serious investors who want an all-in-one solution for research and analysis. In addition to a news service, the company is a hub for bond prices and other, more obscure financial data.īloomberg is the 37th-largest private company in the US and pulls in more than $9 billion in annual revenue, according to Forbes’ 2015 ranking.
It offers data and news stories on markets, charting tools, trade analytics, and communication services. The central position that the company occupies has made Michael Bloomberg the world’s 10th-richest man, with a net worth of $39.3 billion, according to Forbes. While JPMorgan mulls pulling away from Bloomberg, doing so wouldn’t cripple the data company, which has more than 327,000 subscribers. While the company had record revenue and subscribers last year, Bloomberg is selective with its financial information and doesn’t release expenses or profits. Tensions have been simmering between Bloomberg and JPMorgan for years. In 2011, Bloomberg ran a story that compared the bank to Nazis over a debt deal gone bad.
Two years later, The Post first broke the news that Bloomberg reporters had used the terminal to snoop on bankers’ whereabouts by employing terminal functions that weren’t available to other users. Spokespeople for Bloomberg, JPMorgan and Reuters declined to comment.We, and third parties, use cookies and other electronic tools to enhance your experience, analyze site usage, and deliver advertisements tailored to your interests. For more information, please read our Privacy Policy. To opt out of sharing your information for advertising purposes you can choose below under “ Advertising” to opt-out of all or adjust your specific choices.īy clicking "Save Settings", you agree to the use of these tools. Your choice regarding cookies on this website: Required You may also submit a request via this Do Not Sell My Personal Info link. These cookies are required to enable core site functionality.
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