Thomson Reuters (NYSE: TRI) is hoping to step up its battle against Bloomberg by handing over responsibility for credit news reporting to its IFR Markets unit. About six editorial staffers will be affected by the switch, though Peter Szekely, secretary-treasurer of the Newspaper Guild of New York Newspaper Guild, which represents Reuters’ edit employees, says he’s been told that the affected staffers aren’t being laid off and will be transferred to other areas. In a company memo, Reuters said that all IFR Markets credit coverage, now sold as a “fee-liable service” on 3000 Xtra and Bloomberg, will be available for free on Eikon and other professional products. The goal is to package Reuters credit markets coverage into a “more compelling desktop offering in the credit space — a traditional Bloomberg stronghold.”
The other reason for choosing IFR’s reporting over Reuters’ own editorial is to eliminate the competition between the ex-Thomson and ex-Reuters news brands and suggests that the company is still looking for ways it can synthesize its various holdings since merging more than two years ago.
In the 1990