Bloomberg’s Business News Services Summary

  • Last updated on November 10, 2022

Bloomberg’s offered its clients up-to-the-minute and breaking news about financial markets, allowing them to respond immediately to events that could influence the value of investments. It was an early player in a trend toward using computer and communications technology that changed the nature of securities trading.

From its beginnings in 1981 (when it was known as Innovative Market Systems), Michael Bloomberg, Michael R.R. Bloomberg’s business news company strove to cover news instantly by providing expensive wire-service terminals to its clients, mostly stock traders. Conventional business journalists had not been taking advantage of computer technology to move data as quickly as possible to readers. The Bloomberg system offered clients unprecedented speed of access, as well as a way to analyze the data.Bloomberg’s Business News Services[Bloombergs Business News Services]

Since the 1980’s, the service has greatly expanded from its beginnings as a specialized computer data-delivery system. It maintains a presence across a variety of media, including books, magazines, online products, radio, handheld messaging devices, and television. In 1990, it was renamed as Bloomberg’s Business News Services. Many other news providers base some of their stories on information they receive from Bloomberg’s, treating the company as a source rather than as a competitor. These outlets enhance the Bloomberg’s brand, motivating more customers to purchase the company’s terminals.

The financial statistical information provided almost in real time by Bloomberg’s terminals is not always significant to all investors, especially long-term investors. Short-term investors, however, are greatly aided by the company’s ability to report even slight fluctuations in the markets. The success of Bloomberg’s lies in this ability to disseminate up-to-the-second financial reports. The reports cover data from all over the world, and they are disseminated worldwide as well. Subscribers can log on to the service from anywhere with the use of biometric authentication.

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