Thomson Reuters
Thomson Reuters Corporation (/ˈrɔɪtərz/ ⓘ ROY-tərz) is a Canadian multinational information conglomerate.[4] The company was founded in Toronto, Ontario, Canada and maintains its headquarters at 19 Duncan Street there.[5]
This article is about the company. For the charitable organization of the company, see Thomson Reuters Foundation.Company type
Thomson Reuters was created by the Thomson Corporation's purchase of the British company Reuters Group on 17 April 2008.[6] It is majority-owned by The Woodbridge Company, a holding company for the Thomson family of Canada.[7]
Commercial products and activities[edit]
Operations[edit]
The chief executive of the combined company is Steve Hasker, who was the chief executive for the professional division, and the Chairman is David Thomson.[29][30][31]
In 2018, the company was organized around four divisions: Legal, Reuters News Agency, Tax & Accounting, and Government.[32]
Former divisions: Intellectual Property & Science, Financial & Risk, Thomson Healthcare, and Scholarly & Scientific Research.
As of 2018, the Financial & Risk division makes for over half of the company's revenue.[33]
Thomson Reuters competes with Bloomberg L.P., in aggregating financial and legal news.[34]
Thomson Reuters subscriptions compete with open access alternatives, accessible through open data and open source aggregators such as Unpaywall, which can help counter the increase in subscription costs (+779% in the 1995–2015 period vs. 58% for the consumer price index).[35]
Involvement in surveillance[edit]
In November 2019, two groups of legal scholars and human rights activists called on Thomson Reuters to cease providing U.S. Immigration and Customs Enforcement and Palantir Technologies access to information through Westlaw, which has enabled the deportation of illegal immigrants. A company representative replied that Thomson Reuters will help the American government and police in active criminal investigations and against threats to national security or public safety.[106][107] In February 2020, a group of Thomson Reuters shareholders criticized the company's involvement with ICE for immigrant tracking.[108]
In 2020, three Reuters investigative journalists, Raphael Satter, Christopher Bing and Jack Stubbs, who were conducting an investigation about a hack-for-hire company based in India, forcefully took a photograph of Kumar, a small scale Indian herbal businessman for an alleged hacker Sumit Gupta of Belltrox.[109] Kumar had showed his identity proof that he is not the alleged hacker but one of the three journalists took his photograph and used in their story. The businessman was questioned by the police, suffered reputation damage and business loss, and later relocated to a small town.[110] Reuters later admitted to an error of mistaken identity caused by the businessman's sharing of same address with the alleged hacker.[111]