Word: reuters
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Dates: during 1980-1989
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...dramatic change in Reuters' fortunes is only indirectly a result of its journalism. The bulk of the company's revenues, and profits, predicted to reach $98 million for 1984, come from a high-tech version of the original business started by Paul Julius Reuter in 1850: the deli very of financial news between the Prussian town of Aachen and Brussels by carrier pigeon. Reuters has become a prime worldwide supplier, with clients in 112 countries, of electronically transmitted, up-to-the-minute data about currency exchange rates, commodity prices, stocks, bonds, even the availability of tanker space...
...secret of Reuters' success is an early move into computerized business data. In 1973, the agency introduced the Reuter Monitor, a 24-hour currency-information service providing international exchange rates to traders. A smash hit, the Monitor now serves 15,000 subscribers in 78 countries, offering instantaneous quotations on dozens of currencies, as well as trading data on gold, oil commodities, shipping, stocks and bonds. Using the Monitor, traders around the world can turn quick profits on market conditions that often change before information is available through other news sources. This service accounts for 90% of Reuters' revenues...
...Reuters' move into the computer age was a return to its roots as a business news service. In 1850, in the days before wire links between major European financial markets were completed, Baron Julius Reuter used a flock of carrier pigeons to send the latest stock prices from Brussels to the nearest telegraph station, some 100 miles west. By the time the eastward advance of telegraph lines made the pigeons unnecessary, Reuter had launched a general news service that today is one of the world's largest...
...Safeway chain in branching, out into "an upscale gourmet food store" (complete with a grand opening at which members of the San Francisco Symphony played chamber music) and scrutinized an enterprising New York retailer who launched an "all-kosher superstore" for Passover. Supermarket Insights Co-Founder Paul Reuter reports such success that his company has already fielded a new video magazine, Health and Beauty Aids Insights. It will be strictly nuts-and-bolts stuff, however. Charney's Videofashion Monthly, with lots of quick clips of swirling models, distracted designers and discofied fashion shows, has already cornered the glitz...