Bloomberg News: Difference between revisions
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{{short description|International news agency based in New York City}} |
{{short description|International news agency based in New York City}} |
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{{about|the Bloomberg news agency|the current parent company|Bloomberg L.P.}} |
{{about|the Bloomberg news agency|the current parent company|Bloomberg L.P.}} |
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{{Use mdy dates|date= |
{{Use mdy dates|date=April 2024}} |
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{{Infobox company |
{{Infobox company |
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| name = Bloomberg News |
| name = Bloomberg News |
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| type = [[Division (business)|Division]] |
| type = [[Division (business)|Division]] |
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| founded = {{Start date and age|1990}} |
| founded = {{Start date and age|1990}} |
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| hq_location = [[731 Lexington Avenue]], [[New York City]] |
| hq_location = [[Bloomberg Tower]], [[731 Lexington Avenue]], [[Manhattan]], [[New York City]]<br />[[Bloomberg London]] ([[London]] and [[Europe]])<br/>[[Marina Bay Financial Centre]], [[Singapore]] ([[Asia–Pacific]])<br>[[Pacific Place Jakarta]], [[Sudirman Central Business District]], [[Jakarta]] ([[Asia–Pacific]]) |
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| key_people = [[John Micklethwait]]<br>([[Editor-in-chief]]) |
| key_people = [[John Micklethwait]]<br>([[Editor-in-chief]]) |
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| industry = [[News agency]] |
| industry = [[News agency]] |
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| parent = [[Bloomberg L.P.]] |
| parent = [[Bloomberg L.P.]] |
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| website = {{URL|https://www.bloomberg.com}} |
| website = {{URL|https://www.bloomberg.com}} |
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| footnotes = <ref>{{cite book|url=https://books.google.com/books?id=jbc11TKDTaYC&pg=209|title=Plunkett's E-Commerce and Internet Business Almanac|author=Jack W. Plunkett|year=2009|publisher=Plunkett Research, Ltd|page=209|isbn=9781593921156}}</ref> |
| footnotes = <ref>{{cite book|url=https://books.google.com/books?id=jbc11TKDTaYC&pg=209|title=Plunkett's E-Commerce and Internet Business Almanac|author=Jack W. Plunkett|year=2009|publisher=Plunkett Research, Ltd|page=209|isbn=9781593921156|access-date=September 21, 2020|archive-date=August 30, 2023|archive-url=https://web.archive.org/web/20230830212917/https://books.google.com/books?id=jbc11TKDTaYC&pg=209|url-status=live}}</ref> |
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{{Michael Bloomberg series}} |
{{Michael Bloomberg series}} |
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'''Bloomberg News''' (originally '''Bloomberg Business News''') is an international [[news agency]] headquartered in [[New York City]] and a [[Division (business)|division]] of [[Bloomberg L.P.]] Content produced by Bloomberg News is disseminated through [[Bloomberg Terminal]]s, [[Bloomberg Television]], [[Bloomberg Radio]], ''[[Bloomberg Businessweek]]'', ''[[Bloomberg Markets]]'', Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, [[John Micklethwait]] has |
'''Bloomberg News''' (originally '''Bloomberg Business News''') is an international [[news agency]] headquartered in [[New York City]] and a [[Division (business)|division]] of [[Bloomberg L.P.]] Content produced by Bloomberg News is disseminated through [[Bloomberg Terminal]]s, [[Bloomberg Television]], [[Bloomberg Radio]], ''[[Bloomberg Businessweek]]'', ''[[Bloomberg Markets]]'', Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, [[John Micklethwait]] has been [[editor-in-chief]].<ref name="Greenberg">{{cite magazine|url=https://www.wired.com/2015/09/bloombergs-future-future-news-everyone/|title=Bloomberg's Future Is the Future of News for Everyone|magazine=[[Wired (magazine)|Wired]]|date=September 2, 2015|author=Julia Greenberg|access-date=February 16, 2019|issn=1059-1028}}</ref> |
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==History== |
==History== |
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Bloomberg News was founded by [[Michael Bloomberg]] and [[Matthew Winkler (journalist)|Matthew Winkler]] in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers.<ref name="Bodine">{{cite book|url=https://books.google.com/books?id=9G-FWJIAOSEC|title=Make It New: Essays in the History of American Business|publisher=[[iUniverse]]|year=2004|author=Paul Bodine|pages=180–190|location=[[Lincoln, Nebraska]]|isbn=9780595309214|access-date=2013- |
Bloomberg News was founded by [[Michael Bloomberg]] and [[Matthew Winkler (journalist)|Matthew Winkler]] in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers.<ref name="Bodine">{{cite book|url=https://books.google.com/books?id=9G-FWJIAOSEC|title=Make It New: Essays in the History of American Business|publisher=[[iUniverse]]|year=2004|author=Paul Bodine|pages=180–190|location=[[Lincoln, Nebraska]]|isbn=9780595309214|access-date=March 15, 2013|archive-date=August 30, 2023|archive-url=https://web.archive.org/web/20230830212918/https://books.google.com/books?id=9G-FWJIAOSEC|url-status=live}}</ref> |
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The agency was established in 1990 with a team of six people.<ref>{{cite news|url=http://www.bloomberg.com/solutions/bloomberg_news/|title=Bloomberg Solutions|publisher=Bloomberg News|access-date= |
The agency was established in 1990 with a team of six people.<ref>{{cite news|url=http://www.bloomberg.com/solutions/bloomberg_news/|title=Bloomberg Solutions|publisher=Bloomberg News|access-date=May 14, 2013|url-status=dead|archive-url=https://web.archive.org/web/20100624034259/http://www.bloomberg.com/solutions/bloomberg_news/|archive-date=June 24, 2010}}</ref> Winkler was first editor-in-chief.<ref>{{cite news|url=http://www.theaustralian.com.au/media/cult-of-bloomberg-way-underpinned-by-accuracy/story-e6frg996-1226140375103|title=Cult of Bloomberg way underpinned by accuracy|newspaper=[[The Australian]]|access-date=October 26, 2011|archive-date=March 23, 2014|archive-url=https://web.archive.org/web/20140323140626/http://www.theaustralian.com.au/media/cult-of-bloomberg-way-underpinned-by-accuracy/story-e6frg996-1226140375103|url-status=live}}</ref> In 2010, Bloomberg News included more than 2,300 [[editor]]s and [[reporter]]s in 72 countries and 146 news bureaus worldwide.<ref>{{cite news|url=https://www.bloomberg.com/pressroom/facts/|title=At A Glance|publisher=Bloomberg Press Room|access-date=March 18, 2013|url-status=dead|archive-url=https://web.archive.org/web/20120707114539/http://www.bloomberg.com/pressroom/facts/|archive-date=July 7, 2012}}</ref><ref>{{cite web|url=http://www.jomc.unc.edu/video/bloomberg-news-editor-in-chief-to-speak-oct-16-about-the-economy-and-the-presidential-election|title=Bloomberg News editor-in-chief speaks about the economy and the presidential election|publisher=UNC School of Journalism and Mass Communication|access-date=March 18, 2013|url-status=dead|archive-url=https://web.archive.org/web/20130224135451/http://www.jomc.unc.edu/video/bloomberg-news-editor-in-chief-to-speak-oct-16-about-the-economy-and-the-presidential-election|archive-date=February 24, 2013}}</ref> |
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===Beginnings (1990–1995)=== |
===Beginnings (1990–1995)=== |
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Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for ''[[The Wall Street Journal]]'', [[Michael Bloomberg]] telephoned him in November 1989 and asked, "What would it take to get into the news business?"<ref>{{Cite web|url=https://medium.com/damian-radcliffe/in-conversation-with-matthew-winkler-editor-in-chief-emeritus-and-co-founder-of-bloomberg-news-61e26e14d904|title=In conversation with Matthew Winkler, Editor-in-Chief Emeritus and co-founder of Bloomberg News|last=Radcliffe|first=Damian|date=2020 |
Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for ''[[The Wall Street Journal]]'', [[Michael Bloomberg]] telephoned him in November 1989 and asked, "What would it take to get into the news business?"<ref>{{Cite web|url=https://medium.com/damian-radcliffe/in-conversation-with-matthew-winkler-editor-in-chief-emeritus-and-co-founder-of-bloomberg-news-61e26e14d904|title=In conversation with Matthew Winkler, Editor-in-Chief Emeritus and co-founder of Bloomberg News|last=Radcliffe|first=Damian|date=January 8, 2020|website=Medium|language=en|access-date=February 21, 2020|archive-date=February 21, 2020|archive-url=https://web.archive.org/web/20200221180711/https://medium.com/damian-radcliffe/in-conversation-with-matthew-winkler-editor-in-chief-emeritus-and-co-founder-of-bloomberg-news-61e26e14d904|url-status=live}}</ref> |
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In his book, ''The Bloomberg Way'', Winkler recalls a conversation with Bloomberg about a hypothetical ethical dilemma which could have arisen from Bloomberg's interest in creating a newspaper: |
In his book, ''The Bloomberg Way'', Winkler recalls a conversation with Bloomberg about a hypothetical ethical dilemma which could have arisen from Bloomberg's interest in creating a newspaper: |
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"What would you do?" Winkler asked. |
"What would you do?" Winkler asked. |
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"Go with the story," Bloomberg replied. "Our lawyers will love the fees you generate."<ref name="winklerandsondag">{{cite book|author1=Matthew Winkler|author2=Jennifer Sondag|title=The Bloomberg Way|location=Hoboken, New Jersey|publisher=John Wiley & Sons, Inc.|year=2014|pages=xi–xii|isbn=978-1-118-84226-3}}</ref><ref name=" |
"Go with the story," Bloomberg replied. "Our lawyers will love the fees you generate."<ref name="winklerandsondag">{{cite book|author1=Matthew Winkler|author2=Jennifer Sondag|title=The Bloomberg Way|location=Hoboken, New Jersey|publisher=John Wiley & Sons, Inc.|year=2014|pages=xi–xii|isbn=978-1-118-84226-3}}</ref><ref name="Winkler-2014">{{Cite book|last1=Winkler|first1=Matthew|url=https://books.google.com/books?id=GNbnAgAAQBAJ&pg=PT8|title=The Bloomberg Way: A Guide for Reporters and Editors|last2=Sondag|first2=Jennifer|date=2014-02-20|publisher=John Wiley & Sons|isbn=978-1-118-84233-1|language=en|access-date=February 21, 2020|archive-date=August 30, 2023|archive-url=https://web.archive.org/web/20230830212920/https://books.google.com/books?id=GNbnAgAAQBAJ&pg=PT8|url-status=live}}</ref></blockquote> |
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Winkler recalls this as his "deciding moment", the time at which he became willing to help Bloomberg build his news organization.<ref name="winklerandsondag"/><ref name=" |
Winkler recalls this as his "deciding moment", the time at which he became willing to help Bloomberg build his news organization.<ref name="winklerandsondag"/><ref name="Winkler-2014" /> |
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The publication was created to provide concise, timely financial news.<ref name=Bloomberg>{{cite book|author=Michael Bloomberg|title=Bloomberg by Bloomberg|year=1997|publisher=John Wiley & Sons, Inc.|location=New York|isbn=0-471-15545-4|pages=[https://archive.org/details/bloombergbybloom00bloo/page/79 79–100]|url-access=registration|url=https://archive.org/details/bloombergbybloom00bloo/page/79}}</ref> As a new company in 1990, Bloomberg hoped that the news service would spread the company name, sell more Bloomberg Terminals and end Bloomberg's reliance on the [[Dow Jones & Company|Dow Jones News Services]].<ref name="Bodine"/> |
The publication was created to provide concise, timely financial news.<ref name=Bloomberg>{{cite book|author=Michael Bloomberg|title=Bloomberg by Bloomberg|year=1997|publisher=John Wiley & Sons, Inc.|location=New York|isbn=0-471-15545-4|pages=[https://archive.org/details/bloombergbybloom00bloo/page/79 79–100]|url-access=registration|url=https://archive.org/details/bloombergbybloom00bloo/page/79}}</ref> As a new company in 1990, Bloomberg hoped that the news service would spread the company name, sell more Bloomberg Terminals and end Bloomberg's reliance on the [[Dow Jones & Company|Dow Jones News Services]].<ref name="Bodine"/> |
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===2000–2014=== |
===2000–2014=== |
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In 2009 Bloomberg News and ''[[The Washington Post]]'' launched a global news service known as ''The Washington Post News Service with Bloomberg News'', to provide economic and political news.<ref>{{Cite news|last=Carr|first=David|url=https://www.nytimes.com/2009/09/28/business/media/28cbs.html|title=To Cover World, CBS Joins With a News Site|date= |
In 2009 Bloomberg News and ''[[The Washington Post]]'' launched a global news service known as ''The Washington Post News Service with Bloomberg News'', to provide economic and political news.<ref>{{Cite news|last=Carr|first=David|url=https://www.nytimes.com/2009/09/28/business/media/28cbs.html|title=To Cover World, CBS Joins With a News Site|date=September 27, 2009|work=[[The New York Times]]|access-date=February 21, 2020|language=en-US|issn=0362-4331|archive-date=February 21, 2020|archive-url=https://web.archive.org/web/20200221182116/https://www.nytimes.com/2009/09/28/business/media/28cbs.html|url-status=live}}</ref> |
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In April 2014, Bloomberg News launched the ''Bloomberg Luxury'' lifestyle section of its paper.<ref>{{cite magazine|url=https://wwd.com/business-news/media/bloomberg-to-build-luxury-online-7653531/|title=Bloomberg to Build Luxury Online|magazine=[[Women's Wear Daily]]|date= |
In April 2014, Bloomberg News launched the ''Bloomberg Luxury'' lifestyle section of its paper.<ref>{{cite magazine|url=https://wwd.com/business-news/media/bloomberg-to-build-luxury-online-7653531/|title=Bloomberg to Build Luxury Online|magazine=[[Women's Wear Daily]]|date=April 23, 2014}}</ref> The section's content covers topics including travel, wine news, dining, auto news, gadgets, technology news, and more. It also highlights content from Bloomberg's quarterly lifestyle and luxury magazine, ''Pursuits''.{{Citation needed|date=February 2020}} |
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==== Business in China ==== |
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In 2012, Bloomberg News published investigative series titled "Revolution to Riches", which focused on China's political elite. The series won that year's [[George Polk Awards|George Polk Award]] for International Reporting.<ref>{{cite web |date=February 18, 2013 |title=George Polk Awards |url=http://www.liu.edu/About/News/Univ-Ctr-PR/2013/February/UC_PR-Feb18-2 |access-date=January 26, 2018 |website=[[Long Island University]] |archive-date=April 8, 2014 |archive-url=https://web.archive.org/web/20140408095051/http://liu.edu/About/News/Univ-Ctr-PR/2013/February/UC_PR-Feb18-2 |url-status=live }}</ref><ref>{{cite news |title=Revolution to Riches |publisher=Bloomberg News |url=http://topics.bloomberg.com/revolution-to-riches/ |url-status=dead |access-date=July 13, 2014 |archive-url=https://web.archive.org/web/20121231142229/http://topics.bloomberg.com/revolution-to-riches |archive-date=December 31, 2012}}</ref> One story in the series delved into the family wealth of Chinese leader Xi Jinping.<ref>{{cite news |date=June 29, 2012 |title=Xi Jinping Millionaire Relations Reveal Fortunes of Elite |publisher=Bloomberg News |url=https://www.bloomberg.com/news/2012-06-29/xi-jinping-millionaire-relations-reveal-fortunes-of-elite.html |url-access=subscription |access-date=November 9, 2014 |archive-date=July 4, 2012 |archive-url=https://web.archive.org/web/20120704222305/http://www.bloomberg.com/news/2012-06-29/xi-jinping-millionaire-relations-reveal-fortunes-of-elite.html |url-status=live }}</ref> However, before publishing the Xi story, Bloomberg executives and senior editors met with Chinese diplomats twice, without informing the journalists working on the story.<ref name="French">{{cite magazine |author=Howard W. French |date=May 1, 2014 |title=Bloomberg's Folly |url=https://www.cjr.org/feature/bloombergs_folly.php |magazine=[[Columbia Journalism Review]] |access-date=December 7, 2014}}</ref> [[Zhang Yesui]], the [[Chinese ambassador to the United States]], reportedly threatened Bloomberg with consequences for its Chinese operations if it published the story.<ref name="French" /> Bloomberg's editor-in-chief, Matthew Winkler, reportedly refused to stop the story from being published. Then-CEO [[Daniel L. Doctoroff|Daniel Doctoroff]] also reportedly defended the investigation and insisted on publishing it, although he insisted on changes to soften the story's impact.<ref name="French" /> After the story was published in June 2012, the Chinese government ordered state enterprises not to subscribe to Bloomberg News. The company's website was also blocked on Chinese servers, and it was unable to obtain visas for journalists it wanted to send to China.<ref>{{cite news |author1=Edward Wong |author-link1=Edward Wong |author2=Christine Haughney |date=November 17, 2013 |title=Bloomberg News Suspends Reporter Whose Article on China Was Not Published |language=en-US |newspaper=[[The New York Times]] |url=https://www.nytimes.com/2013/11/18/world/asia/reporter-on-unpublished-bloomberg-article-is-suspended.html |access-date=February 16, 2019 |issn=0362-4331 |archive-date=September 4, 2017 |archive-url=https://web.archive.org/web/20170904092117/http://www.nytimes.com/2013/11/18/world/asia/reporter-on-unpublished-bloomberg-article-is-suspended.html |url-status=live }}</ref> |
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⚫ | In 2015, an internal memo written by editor-in-chief [[John Micklethwait]] was leaked to the public. This memo indicated an intent to refocus the agency to better target its core audience, "the clever customer who is short of time |
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The following year, Bloomberg shut down an ongoing investigation into the financial ties between a wealthy Chinese businessman and top Chinese leaders' families. Another planned article "about the children of senior Chinese officials employed by foreign banks" was also killed, according to Bloomberg employees.<ref name="nytimes-2013-11-09">{{cite news |author=Edward Wong |date=November 8, 2013 |title=Bloomberg News Is Said to Curb Articles That Might Anger China |language=en-US |newspaper=[[The New York Times]] |url=https://www.nytimes.com/2013/11/09/world/asia/bloomberg-news-is-said-to-curb-articles-that-might-anger-china.html |access-date=February 16, 2019 |issn=0362-4331 |archive-date=April 16, 2017 |archive-url=https://web.archive.org/web/20170416212919/http://www.nytimes.com/2013/11/09/world/asia/bloomberg-news-is-said-to-curb-articles-that-might-anger-china.html |url-status=live }}</ref> At least five journalists and editors, including the lead writer on the Xi story,<ref name="French" /> left the company after news reports about the decision appeared.<ref name="Demick-2015">{{Cite magazine |last=Demick |first=Barbara |date=May 5, 2015 |title=The Times, Bloomberg News, and the Richest Man in China |language=en-US |magazine=The New Yorker |url=https://www.newyorker.com/news/news-desk/how-not-to-get-kicked-out-of-china |access-date=July 25, 2023 |issn=0028-792X |archive-date=July 25, 2023 |archive-url=https://web.archive.org/web/20230725144837/https://www.newyorker.com/news/news-desk/how-not-to-get-kicked-out-of-china |url-status=live }}</ref> One of the journalists said Bloomberg had disparaged "the team that worked so hard to execute an incredibly demanding story" and claimed it threatened the journalists who worked on the story with legal action if they discussed the incident publicly.<ref name="Folkenflik-2020">{{Cite news |last=Folkenflik |first=David |date=April 14, 2020 |title=Bloomberg News Killed Investigation, Fired Reporter, Then Sought To Silence His Wife |work=[[NPR]] |url=https://www.npr.org/2020/04/14/828565428/bloomberg-news-killed-investigation-fired-reporter-then-sought-to-silence-his-wi |access-date=April 15, 2020 |archive-date=April 14, 2020 |archive-url=https://web.archive.org/web/20200414191751/https://www.npr.org/2020/04/14/828565428/bloomberg-news-killed-investigation-fired-reporter-then-sought-to-silence-his-wi |url-status=live }}</ref><ref>{{cite web |author=Jim Romenesko |author-link=Jim Romenesko |date=March 24, 2014 |title=Ben Richardson Quits Bloomberg News Over Handling of Investigative Piece |url=http://jimromenesko.com/2014/03/24/ben-richardson-quits-bloomberg-news-over-handling-of-investigative-piece/ |url-status=dead |archive-url=https://web.archive.org/web/20140602200811/http://jimromenesko.com/2014/03/24/ben-richardson-quits-bloomberg-news-over-handling-of-investigative-piece/ |archive-date=June 2, 2014 |access-date=June 1, 2014 |website=JimRomenesko.com}}</ref> |
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⚫ | In 2018, Micklethwait announced a new digital design for Bloomberg News. Bloomberg uses a metered [[paywall]] to charge visitors for content, limiting users to view 10 free articles per month with unlimited re-read option, and 30 minutes of Bloomberg Television watch per day with reset at local midnight time.<ref>{{cite news|url=https://www.wsj.com/articles/bloombergs-new-paywall-will-charge-users-35-a-month-1525285030|title=Bloomberg's New Paywall Will Charge Users $35 a Month|newspaper=[[The Wall Street Journal]]|date=2018 |
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Bloomberg's top editors, including the senior editor on the stories, [[Laurie Hays]], and editor-in-chief Matthew Winkler denied that the stories were killed.<ref name="nytimes-2013-11-09" /> However, this was contradicted by several anonymous Bloomberg employees. According to one employee, Winkler had said, "If we run the story, we'll be kicked out of China."<ref name="nytimes-2013-11-09" /><ref name="Folkenflik-2020" /> [[Michael Bloomberg]], founder of the company, also denied the accusation, but noted that he had recused himself from the company's operations as he was serving as mayor of New York.<ref>{{cite news |author=Ben Sisario |author-link=Ben Sisario |date=November 12, 2013 |title=Bloomberg Says News Service Did Not Kill Articles on China |language=en-US |newspaper=[[The New York Times]] |url=https://www.nytimes.com/2013/11/13/business/media/bloomberg-says-news-service-did-not-kill-articles-on-china.html |access-date=February 16, 2019 |issn=0362-4331 |archive-date=May 21, 2017 |archive-url=https://web.archive.org/web/20170521213023/http://www.nytimes.com/2013/11/13/business/media/bloomberg-says-news-service-did-not-kill-articles-on-china.html |url-status=live }}</ref> |
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⚫ | In November 2019, as [[Michael Bloomberg]] announced [[Michael Bloomberg 2020 presidential campaign|his presidential campaign]], editor-in-chief [[John Micklethwait]] ordered his staff not to investigate their boss, nor any other [[Democratic Party (United States)|Democratic]] candidates, while investigations into [[Donald Trump]] would continue, "as the government of the day".<ref>{{cite news |url=https://www.cnbc.com/2019/11/24/bloomberg-news-will-not-investigate-mike-bloomberg-or-his-democratic-rivals-during-primary.html |title=Bloomberg News will not investigate Mike Bloomberg or his Democratic rivals during primary |work=[[CNBC]] |first1=Lauren |last1=Hirsch |first2=Brian |last2=Schwartz |date=November 24, 2019 |access-date=November 26, 2019}}</ref> Subsequent reporting said Micklethwait was referring to a team of specialized investigative reporters, as opposed to the overall political team, but he would not elaborate or issue a public clarification despite newsroom staff wishing for him to do so. Investigative journalists and political reporters operate separately but reporting indicates this distinction would not be clear to the general public.<ref>{{Cite news|last=Grynbaum|first=Michael M.|url=https://www.nytimes.com/2020/02/17/business/media/bloomberg-news-conflict-of-interest.html|title=Bloomberg News's Dilemma: How to Cover a Boss Seeking the Presidency|date= |
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⚫ | After the incidents, Bloomberg set about trying to repair its relationship with the Chinese government. By 2015, Bloomberg's reporters began receiving visas again.<ref name="Demick-2015" /> Bloomberg Chairman [[Peter Grauer]] told the staff at the Bloomberg Hong Kong bureau that the company's sales team had done a "heroic job" of mending relations with Chinese officials who had indicated their displeasure about the publication of the Xi revelations. He also warned that if Bloomberg "were to do anything like" the Xi story again, the company would "be straight back in the shit-box."<ref name="French" /> |
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⚫ | Following Bloomberg's announcement, the ''[[Houston Chronicle]]'' dropped Bloomberg as a source for the 2020 Presidential campaign, saying that "journalists should not choose targets based on their political affiliation."<ref>{{Cite web|url=https://thehill.com/homenews/media/474333-houston-chronicle-stops-using-bloomberg-news-wire-stories-for-campaign|title=Houston Chronicle stops using Bloomberg News wire stories for campaign coverage|first=Justin|last=Wise|date=December 12, 2019|website= |
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===2015 refocus=== |
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⚫ | In 2015, an internal memo written by editor-in-chief [[John Micklethwait]] was leaked to the public. This memo indicated an intent to refocus the agency to better target its core audience, "the clever customer who is short of time", and better achieve the goal of being "the definitive 'chronicle of capitalism.'"<ref name="Greenberg" /> This change led to a reduction in reporting on general interest topics in favor of content related to business and economics.<ref name="Greenberg"/> |
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===China coverage=== |
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Bloomberg News received a 2012 [[George Polk Awards|George Polk Award]] for its series of stories about China's political elite, "Revolution to Riches."<ref>{{cite web|url=http://www.liu.edu/About/News/Univ-Ctr-PR/2013/February/UC_PR-Feb18-2|title=George Polk Awards|website=[[Long Island University]]|date=2013-02-18|access-date=2018-01-26}}</ref><ref>{{cite news|url=http://topics.bloomberg.com/revolution-to-riches/|title=Revolution to Riches|publisher=Bloomberg News|access-date=2014-07-13|url-status=dead|archive-url=https://web.archive.org/web/20121231142229/http://topics.bloomberg.com/revolution-to-riches|archive-date=2012-12-31}}</ref> |
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One story in the series focused on the family wealth of Chinese leader [[Xi Jinping]].<ref>{{cite news|url=https://www.bloomberg.com/news/2012-06-29/xi-jinping-millionaire-relations-reveal-fortunes-of-elite.html|title=Xi Jinping Millionaire Relations Reveal Fortunes of Elite|publisher=Bloomberg News|date=2012-06-29|url-access=subscription|access-date=2014-11-09}}</ref> Journalist and author [[Howard W. French]] reported in the May/June 2014 issue of the ''[[Columbia Journalism Review]]'' that prior to publication of the Xi story, high-level Bloomberg officials met with Chinese diplomats twice without informing the journalists who were working on the story.<ref name="French">{{cite magazine|url=https://www.cjr.org/feature/bloombergs_folly.php|title=Bloomberg's Folly|magazine=[[Columbia Journalism Review]]|date=2014-05-01|author=Howard W. French|access-date=2014-12-07}}</ref> |
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⚫ | In 2018, Micklethwait announced a new digital design for Bloomberg News. Bloomberg uses a metered [[paywall]] to charge visitors for content, limiting users to view 10 free articles per month with unlimited re-read option, and 30 minutes of Bloomberg Television watch per day with reset at local midnight time.<ref>{{cite news|url=https://www.wsj.com/articles/bloombergs-new-paywall-will-charge-users-35-a-month-1525285030|title=Bloomberg's New Paywall Will Charge Users $35 a Month|newspaper=[[The Wall Street Journal]]|date=May 2, 2018|author=Benjamin Mullin|access-date=February 16, 2019|language=en-US|issn=0099-9660|archive-date=May 3, 2018|archive-url=https://web.archive.org/web/20180503125656/https://www.wsj.com/articles/bloombergs-new-paywall-will-charge-users-35-a-month-1525285030|url-status=live}}</ref><ref>{{Cite web|title=Bloomberg subscriptions|url=https://www.bloomberg.com/subscriptions/abgw2m846tx8qks/|website=Bloomberg.com|publisher=[[Bloomberg News|Bloomberg]]|access-date=May 20, 2020|archive-date=February 28, 2022|archive-url=https://web.archive.org/web/20220228021156/https://www.bloomberg.com/subscriptions/abgw2m846tx8qks/|url-status=live}}</ref> |
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In 2018, [[Bloomberg Businessweek]], a subsidiary of Bloomberg News, published an article alleging that the Chinese government had hacked several American companies, including [[Apple Inc.]] and [[Amazon (company)|Amazon]], by placing secret [[Integrated circuit|integrated circuits]] into their computers. Apple and Amazon strongly denied the report. The incident became a long-running dispute between Bloomberg; the [[United States Department of Homeland Security|U.S. Department of Homeland Security]] and the [[National Cyber Security Centre (United Kingdom)|U.K. National Cyber Security Centre]] both issues statements supporting the companies' denials of the story.<ref>{{Cite web |last=Cimpanu |first=Catalin |date=October 7, 2018 |title=DHS and GCHQ join Amazon and Apple in denying Bloomberg chip hack story |url=https://www.zdnet.com/article/dhs-and-gchq-join-amazon-and-apple-in-denying-bloomberg-chip-hack-story/ |access-date=July 27, 2023 |website=ZDNET |language=en |archive-date=July 27, 2023 |archive-url=https://web.archive.org/web/20230727121455/https://www.zdnet.com/article/dhs-and-gchq-join-amazon-and-apple-in-denying-bloomberg-chip-hack-story/ |url-status=live }}</ref> In 2021, Bloomberg published a follow-up article standing by its allegations.<ref>{{Cite news |last1=Robertson |first1=Jordan |last2=Riley |first2=Michael |date=February 12, 2021 |title=The Long Hack: How China Exploited a U.S. Tech Supplier |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/features/2021-supermicro/ |access-date=July 27, 2023 |archive-date=July 21, 2023 |archive-url=https://web.archive.org/web/20230721093448/https://www.bloomberg.com/features/2021-supermicro/ |url-status=live }}</ref><ref>{{Cite news |last=Moss |first=Sebastian |date=February 12, 2021 |title=Years later, Bloomberg doubles down on disputed Supermicro supply chain hack story |work=Data Center Dynamics |url=https://www.datacenterdynamics.com/en/news/years-later-bloomberg-doubles-down-disputed-supermicro-supply-chain-hack-story/ |access-date=July 27, 2023 |archive-date=July 27, 2023 |archive-url=https://web.archive.org/web/20230727121852/https://www.datacenterdynamics.com/en/news/years-later-bloomberg-doubles-down-disputed-supermicro-supply-chain-hack-story/ |url-status=live }}</ref> |
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The first meeting was between Winkler and [[Zhang Yesui]], the [[Chinese ambassador to the United States]]. Zhang is said to have told Winkler, "If Bloomberg publishes this story, bad things will happen for Bloomberg in China. If Bloomberg does not publish the story, good things will happen for Bloomberg." The second meeting occurred shortly thereafter in New York and included Bloomberg Chairman [[Peter Grauer]], the company's then Chief Executive [[Daniel Doctoroff]], and an unnamed Chinese diplomat. |
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In 2016, Bloomberg published a news release claiming to be from [[Vinci SA]], a French construction company, that it had discovered accounting irregularities and had to revise its earnings reports. The news release turned out to be a hoax. Vinci's stock briefly fell by 18% when Bloomberg published it, although it quickly recovered once it became clear it was not true. In 2019, France's stock markets regulator, the [[Autorité des marchés financiers (France)|Autorité des marchés financiers]], fined Bloomberg €5 million for publishing the report, stating that it should have known it was false.<ref>{{Cite news |last=Pooler |first=Michael |date=December 16, 2019 |title=Bloomberg fined €5m over report of fake news release |work=Financial Times |url=https://www.ft.com/content/32013b6a-202f-11ea-b8a1-584213ee7b2b |access-date=July 27, 2023 |archive-date=July 27, 2023 |archive-url=https://web.archive.org/web/20230727123759/https://www.ft.com/content/32013b6a-202f-11ea-b8a1-584213ee7b2b |url-status=live }}</ref> An appeals court reduced the fine to €3 million in 2021.<ref>{{Cite news |last= |date=September 16, 2021 |title=French court lowers Bloomberg fine over hoax Vinci statement -media reports |language=en |work=Reuters |url=https://www.reuters.com/business/media-telecom/french-court-lowers-bloomberg-fine-over-hoax-vinci-statement-media-reports-2021-09-16/ |access-date=July 27, 2023 |archive-date=July 27, 2023 |archive-url=https://web.archive.org/web/20230727123759/https://www.reuters.com/business/media-telecom/french-court-lowers-bloomberg-fine-over-hoax-vinci-statement-media-reports-2021-09-16/ |url-status=live }}</ref> |
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Around the time of the second meeting, during a lengthy conference call with Bloomberg reporters and editors, Doctoroff insisted on changes in the story that softened its impact by revising the language used to describe the Xi family's assets.<ref name="French"/> |
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After the Xi story appeared, terminal sales in China slowed because government officials ordered state enterprises not to subscribe. The Bloomberg News website was also blocked on Chinese servers, and the company was unable to get visas for journalists it wanted to send to China.<ref>{{cite news|url=https://www.nytimes.com/2013/11/18/world/asia/reporter-on-unpublished-bloomberg-article-is-suspended.html|title=Bloomberg News Suspends Reporter Whose Article on China Was Not Published|newspaper=[[The New York Times]]|date=2013-11-17|author1=Edward Wong|author2=Christine Haughney|issn=0362-4331|author-link1=Edward Wong|access-date=2019-02-16|language=en-US}}</ref> |
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⚫ | In November 2019, as [[Michael Bloomberg]] announced [[Michael Bloomberg 2020 presidential campaign|his presidential campaign]], editor-in-chief [[John Micklethwait]] ordered his staff not to investigate their boss, nor any other [[Democratic Party (United States)|Democratic]] candidates, while investigations into [[Donald Trump]] would continue, "as the government of the day".<ref>{{cite news |url=https://www.cnbc.com/2019/11/24/bloomberg-news-will-not-investigate-mike-bloomberg-or-his-democratic-rivals-during-primary.html |title=Bloomberg News will not investigate Mike Bloomberg or his Democratic rivals during primary |work=[[CNBC]] |first1=Lauren |last1=Hirsch |first2=Brian |last2=Schwartz |date=November 24, 2019 |access-date=November 26, 2019 |archive-date=November 26, 2019 |archive-url=https://web.archive.org/web/20191126031522/https://www.cnbc.com/2019/11/24/bloomberg-news-will-not-investigate-mike-bloomberg-or-his-democratic-rivals-during-primary.html |url-status=live }}</ref> Subsequent reporting said Micklethwait was referring to a team of specialized investigative reporters, as opposed to the overall political team, but he would not elaborate or issue a public clarification despite newsroom staff wishing for him to do so. Investigative journalists and political reporters operate separately but reporting indicates this distinction would not be clear to the general public.<ref>{{Cite news|last=Grynbaum|first=Michael M.|url=https://www.nytimes.com/2020/02/17/business/media/bloomberg-news-conflict-of-interest.html|title=Bloomberg News's Dilemma: How to Cover a Boss Seeking the Presidency|date=February 17, 2020|work=[[The New York Times]]|access-date=February 27, 2020|language=en-US|issn=0362-4331|archive-date=February 27, 2020|archive-url=https://web.archive.org/web/20200227165425/https://www.nytimes.com/2020/02/17/business/media/bloomberg-news-conflict-of-interest.html|url-status=live}}</ref> |
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⚫ | Following Bloomberg's announcement, the ''[[Houston Chronicle]]'' dropped Bloomberg as a source for the 2020 Presidential campaign, saying that "journalists should not choose targets based on their political affiliation."<ref>{{Cite web|url=https://thehill.com/homenews/media/474333-houston-chronicle-stops-using-bloomberg-news-wire-stories-for-campaign|title=Houston Chronicle stops using Bloomberg News wire stories for campaign coverage|first=Justin|last=Wise|date=December 12, 2019|website=[[The Hill (newspaper)|The Hill]]|access-date=December 16, 2019|archive-date=December 16, 2019|archive-url=https://web.archive.org/web/20191216171350/https://thehill.com/homenews/media/474333-houston-chronicle-stops-using-bloomberg-news-wire-stories-for-campaign|url-status=live}}</ref> Former Bloomberg News DC Bureau Chief Megan Murphy also criticized the decision, saying it bars "talented reporters and editors from covering massive, crucial aspects of one of the defining elections of our time" and calling the decision to avoid coverage "not journalism".<ref>{{Cite web|url=https://twitter.com/meganmurp/status/1198665230273974272|title=It is truly staggering that *any* editor would put their name on a memo that bars an army of unbelievably talented reporters and editors from covering massive, crucial aspects of one of the defining elections of our time. Staggering.|first=Megan|last=Murphy|date=November 24, 2019|access-date=December 16, 2019|archive-date=December 11, 2019|archive-url=https://web.archive.org/web/20191211211257/https://twitter.com/meganmurp/status/1198665230273974272|url-status=live}}</ref> Responding to the controversy, [[Michael Bloomberg]] told CBS News: "We just have to learn to live with some things." He added that his reporters "get a paycheck. But with your paycheck comes some restrictions and responsibilities."<ref>{{Cite web|url=https://abcnews.go.com/Entertainment/wireStory/bloomberg-news-reporters-accept-restrictions-67554419|title=Bloomberg: His news reporters need to accept restrictions|website=[[ABC News (United States)|ABC News]]|access-date=December 16, 2019|archive-date=December 16, 2019|archive-url=https://web.archive.org/web/20191216172426/https://abcnews.go.com/Entertainment/wireStory/bloomberg-news-reporters-accept-restrictions-67554419|url-status=live}}</ref> |
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On October 29, 2013, during a conference call, Winkler told four Bloomberg journalists in Hong Kong that the findings of their major investigation into "the hidden financial ties between one of the wealthiest men in China and the families of top Chinese leaders" would not be published. Less than a week later, a second planned article "about the children of senior Chinese officials employed by foreign banks" was also killed, according to Bloomberg employees.<ref name="nytimes-2013-11-09">{{cite news|url=https://www.nytimes.com/2013/11/09/world/asia/bloomberg-news-is-said-to-curb-articles-that-might-anger-china.html|title=Bloomberg News Is Said to Curb Articles That Might Anger China|newspaper=The New York Times|date=2013-11-08|author=Edward Wong|issn=0362-4331|access-date=2019-02-16|language=en-US}}</ref> |
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Unnamed Bloomberg employees quoted by ''[[The New York Times]]'' said the decision not to publish was made by the company's top editors, led by Winkler. According to one employee, Winkler said, "If we run the story, we'll be kicked out of China."<ref name="nytimes-2013-11-09"/><ref name=":1">{{Cite news|last=Folkenflik|first=David|url=https://www.npr.org/2020/04/14/828565428/bloomberg-news-killed-investigation-fired-reporter-then-sought-to-silence-his-wi|title=Bloomberg News Killed Investigation, Fired Reporter, Then Sought To Silence His Wife|date=April 14, 2020|work=[[NPR]]|access-date=April 15, 2020}}</ref> |
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When contacted by the Times, Winkler said in an email that neither story had been killed. "'What you have is untrue,'" he wrote. "'The stories are active and not spiked.'" [[Laurie Hays]], the senior editor on the articles, "echoed" his statement. Winkler declined to discuss the conference call.<ref name="nytimes-2013-11-09"/> |
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The Winkler and Hays denials appeared in a story published by the Times on November 8, 2013. At a mayoral news conference four days later, Michael Bloomberg also denied the accusation. He "insisted" that Bloomberg News "did not do that; the editors said that was just not the case." Noting Winkler's response to the Times, he added, "No one thinks that we are wusses and not willing to stand up and write stories that are of interest to the public and that are factually correct." He also said that because he was mayor of New York, he was not involved in the operations of the news agency. "I've recused myself from anything to do with the company," he said.<ref>{{cite news|url=https://www.nytimes.com/2013/11/13/business/media/bloomberg-says-news-service-did-not-kill-articles-on-china.html|title=Bloomberg Says News Service Did Not Kill Articles on China|newspaper=The New York Times|date=2013-11-12|author=Ben Sisario|issn=0362-4331|author-link=Ben Sisario|access-date=2019-02-16|language=en-US}}</ref> |
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Three journalists left the company after news reports about the decision appeared --- reporter Michael Forsythe, editor and reporter [[Amanda Bennett]], and Ben Richardson, an editor at large for Asia news.<ref>{{cite magazine|url=https://www.theatlantic.com/international/archive/2014/03/another-bloomberg-editor-explains-why-he-has-resigned-over-its-china-coverage/359565/|title=Another Bloomberg Editor Explains Why He Has Resigned, Over Its China Coverage|magazine=[[The Atlantic]]|date=2014-03-25|author=James Fallows|author-link=James Fallows}}</ref><ref>{{cite news|url=https://www.nytimes.com/2014/03/25/business/media/editor-leaves-bloomberg-citing-china-coverage.html|title=Editor Leaves Bloomberg, Citing China Coverage|date=2014-03-24|newspaper=The New York Times|author=Ravi Somaiya}}</ref> Forsythe was the lead writer on the Xi Jinping story.<ref name="French"/> Richardson said, "I left Bloomberg because of the way the story was mishandled, and because of how the company made misleading statements in the global press and senior executives disparaged the team that worked so hard to execute an incredibly demanding story." He also said that the company has threatened the journalists who worked on the story with legal action if they discuss the incident publicly.<ref>{{cite web|url=http://jimromenesko.com/2014/03/24/ben-richardson-quits-bloomberg-news-over-handling-of-investigative-piece/|title=Ben Richardson Quits Bloomberg News Over Handling of Investigative Piece|website=JimRomenesko.com|date=2014-03-24|author=Jim Romenesko|author-link=Jim Romenesko|access-date=2014-06-01|url-status=dead|archive-url=https://web.archive.org/web/20140602200811/http://jimromenesko.com/2014/03/24/ben-richardson-quits-bloomberg-news-over-handling-of-investigative-piece/|archive-date=2014-06-02}}</ref><ref name=":1" /> |
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Taiwan-based [[Next Media Animation]] produced an animated cartoon ridiculing Winkler and Michael Bloomberg.<ref>{{cite web|url=https://sinosphere.blogs.nytimes.com/2013/11/08/animated-take-on-bloombergs-coverage-of-china/|title=Animated Take on Bloomberg's Coverage of China|work=Sinosphere Blog|via=The New York Times|date=2013-11-08|author=Edward Wong|access-date=2019-02-16|language=en-US}}</ref> |
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===Super Micro Computer chip controversy=== |
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On October 4, 2018, Bloomberg's [[Bloomberg Businessweek|''Businessweek'' magazine]] featured an article written by Jordan Robertson and Michael Riley, in which they claimed to have evidence that US companies who were clients of [[Supermicro|Super Micro Computer]] had experienced a series of [[Supply chain attack|supply chain attacks]]. The article claimed that the subsidiary of Super Micro Computer, [[Elemental Technologies]], had implanted a [[Computer chip|chip]] the size of a pencil tip onto their [[Motherboard|motherboards]] that allowed [[Cyberwarfare by China|China to gain access]] to the hardware. It also alleged, based on a quote from a source in the [[Federal government of the United States|US government]], that companies affected by these attacks included [[Amazon (company)|Amazon]] and [[Apple Inc.|Apple]].<ref>{{Cite news|title=The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies|url=https://www.bloomberg.com/news/features/2018-10-04/the-big-hack-how-china-used-a-tiny-chip-to-infiltrate-america-s-top-companies|accessdate=2022-05-21|work=www.bloomberg.com|date=October 4, 2018 |language=en}}</ref> The stock price of Super Micro Computer sank by 40% on the day the article was released. |
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On October 9, 2018, [[Vice (magazine)|VICE]] released an interview with someone who said that he had mentioned the theoretical scenario to one of the authors of the article, Jordan Robertson, more than a year before its release.<ref>{{Cite web|title=The China stealth hacking report just took a major hit — from one of the story's sources|url=https://www.vice.com/en/article/yw9x7x/china-stealth-hacking-story-joe-fitzpatrick|accessdate=2022-05-21|work=www.vice.com|language=en}}</ref> |
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Regarding the report, FBI Director Christopher Wray said<ref>{{Cite news |last=Haselton |first=Todd |date=2018-10-10 |title=FBI director on whether Apple and Amazon servers had Chinese spy chips: 'Be careful what you read' |work=[[CNBC]] |url=https://www.cnbc.com/2018/10/10/fbi-director-wray-on-super-micro-servers-be-careful-what-you-read.html |access-date=2022-11-23}}</ref> in Senate on Oct. 10 "be careful what you read." |
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Apple's CEO [[Tim Cook]] denied the claim that the company had been affected in an interview with [[BuzzFeed News|Buzzfeed News]], stating: "This did not happen. There's no truth to this."<ref>{{Cite web|title=Apple CEO Tim Cook Is Calling For Bloomberg To Retract Its Chinese Spy Chip Story|url=https://www.buzzfeednews.com/article/johnpaczkowski/apple-tim-cook-bloomberg-retraction/|accessdate=2022-05-21|work=www.buzzfeednews.com|language=en}}</ref> Apple also released an official statement: "We did not uncover any unusual vulnerabilities in the servers we purchased from Super Micro when we updated the firmware and software according to our standard procedures."<ref>{{Cite web|title=What Businessweek got wrong about Apple |url=https://www.apple.com/newsroom/2018/10/what-businessweek-got-wrong-about-apple/|accessdate=2022-05-21|work=www.apple.com|language=en}}</ref> Apple's denials have also been supported by [[United States Department of Homeland Security|DHS]] and [[GCHQ]].<ref>{{Cite web|title=GCHQ, the UK's equivalent of the NSA, says it believes Apple's denial of spy chip claim|url=https://9to5mac.com/2018/10/05/spy-chip/|accessdate=2022-05-21|work=www.9to5mac.com|date=October 5, 2018 |language=en}}</ref><ref>{{Cite web|title=Super Micro China super spy chip super scandal: US Homeland Security, UK spies back Amazon, Apple denials|url=https://www.theregister.com/2018/10/08/super_micro_us_uk_intelligence/|accessdate=2022-05-21|work=www.theregister.com|language=en}}</ref> |
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Pinwest, a media company founded in [[Silicon Valley]] and based in [[Beijing]], identified the chip mentioned in the article as a [[balun]]. Pinwest pointed out that its size made it impossible to implement any form of attack; it did not have the storage space required to store commands that would allow a [[hacker]] to infiltrate the hardware. They suggested that Businessweek had underestimated security standards employed by Amazon and Apple.<ref>{{Cite web|title=彭博社曝光的"间谍芯片",我在淘宝1块钱就能买一个|url=https://www.pingwest.com/a/178013|accessdate=2022-05-21|work=www.pingwest.com|language=zh}}</ref> |
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Despite providing no further evidence, Bloomberg continued to claim that the article had been verified by its team. It has not been retracted.<ref>{{Cite web|title=Bloomberg stands by Chinese chip story as Apple, Amazon ratchet up denials|url=https://arstechnica.com/tech-policy/2018/10/bloomberg-stands-by-chinese-chip-story-as-apple-amazon-ratchet-up-denials/|accessdate=2022-05-21|work=www.arstechnica.com|date=October 5, 2018 |language=en}}</ref> |
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===Vinci reporting fine=== |
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On December 16, 2019, France's financial markets watchdog, the [[Autorité des marchés financiers (France)|Autorité des marchés financiers]] (AMF), fined Bloomberg €5,000,000 for a report based on a fake news release that triggered a plunge in the shares of French construction giant [[Vinci SA|Vinci]] and wiped billions off its market value. The AMF said Bloomberg distributed "information that it should have known was false" and that Bloomberg did not respect journalistic ethics "as no verification of the information was undertaken before publication".<ref>{{cite news|url= https://www.straitstimes.com/business/companies-markets/fake-news-report-costs-bloomberg-76m-in-fines |title= Fake news report costs Bloomberg $7.6m in fines|newspaper=The Straits Times|date=2019-12-17|access-date=2019-12-23}}</ref> |
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==''Bloomberg Businessweek''== |
==''Bloomberg Businessweek''== |
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{{see also| Bloomberg Businessweek}} |
{{see also| Bloomberg Businessweek}} |
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[[Bloomberg L.P.]] bought weekly business magazine ''Businessweek'' from [[McGraw-Hill]] in 2009.<ref>{{cite news|url=https://www.nytimes.com/2009/10/14/business/media/14bizweek.html|title=Bloomberg Buys BusinessWeek From McGraw-Hill|newspaper=The New York Times|date= |
[[Bloomberg L.P.]] bought weekly business magazine ''Businessweek'' from [[McGraw-Hill]] in 2009.<ref>{{cite news|url=https://www.nytimes.com/2009/10/14/business/media/14bizweek.html|title=Bloomberg Buys BusinessWeek From McGraw-Hill|newspaper=[[The New York Times]]|date=October 13, 2009|author1=Stephanie Clifford|author2=David Carr|author-link1=Stephanie Clifford|access-date=March 18, 2013|archive-date=December 4, 2019|archive-url=https://web.archive.org/web/20191204060152/https://www.nytimes.com/2009/10/14/business/media/14bizweek.html|url-status=live}}</ref> The company acquired the magazine to attract general business to its media audience composed primarily of terminal subscribers. Following the acquisition, ''Businessweek'' was renamed ''[[Bloomberg Businessweek]]''.<ref>{{cite magazine|url=https://www.bloomberg.com/news/articles/2009-10-12/bloomberg-wins-bidding-for-businessweek|title=Bloomberg Wins Bidding For BusinessWeek|magazine=[[Bloomberg Businessweek]]|date=October 13, 2009|author=Tom Lowry|url-access=subscription|access-date=March 18, 2013}}</ref> Bloomberg Businessweek became a part of Bloomberg News after the acquisition from [[Bloomberg L.P.|Bloomberg L.P]].<ref>{{Cite web|title=Bloomberg Businessweek|url=https://www.bloomberg.com/businessweek|url-status=live|website=Businessweek.com|archive-url=https://web.archive.org/web/20150128161521/http://www.bloomberg.com/businessweek |archive-date=January 28, 2015 }}</ref> |
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==Bloomberg Television== |
==Bloomberg Television== |
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{{see also| Bloomberg Television}} |
{{see also| Bloomberg Television}} |
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[[Bloomberg Television]] is a 24-hour financial news television network. It was introduced in 1994 as a subscription service transmitted on satellite television provider [[DirecTV]], 13 hours a day, 7 days a week.<ref>{{cite web|url=http://www.fundinguniverse.com/company-histories/bloomberg-l-p-history/|title=Bloomberg L.P. History|publisher=FundingUniverse|access-date=2013- |
[[Bloomberg Television]] is a 24-hour financial news television network. It was introduced in 1994 as a subscription service transmitted on satellite television provider [[DirecTV]], 13 hours a day, 7 days a week.<ref>{{cite web|url=http://www.fundinguniverse.com/company-histories/bloomberg-l-p-history/|title=Bloomberg L.P. History|publisher=FundingUniverse|access-date=March 19, 2013|archive-date=July 7, 2012|archive-url=https://web.archive.org/web/20120707012913/http://www.fundinguniverse.com/company-histories/bloomberg-l-p-history/|url-status=live}}</ref> In 1995, the network entered the cable television market and by 2000, Bloomberg's 24-hour news programming was being aired to 200 million households.<ref>{{cite news|url=https://www.nytimes.com/2000/09/18/business/bloomberg-unit-to-announce-a-cable-deal.html|title=Bloomberg Unit To Announce A Cable Deal|newspaper=[[The New York Times]]|date=September 18, 2000|author=Danny Hakim|access-date=March 19, 2013|archive-date=June 24, 2017|archive-url=https://web.archive.org/web/20170624224736/http://www.nytimes.com/2000/09/18/business/bloomberg-unit-to-announce-a-cable-deal.html|url-status=live}}</ref> [[Justin B. Smith|Justin Smith]] serves as CEO of the Bloomberg Media Group which includes Bloomberg Radio, Bloomberg Television and mobile, online and advertising-supported components of Bloomberg's media offerings.<ref>{{cite web|url=http://www.datacenterdynamics.com/focus/archive/2012/05/bloomberg-cloud-built-world-domination|title=Bloomberg: a cloud built for world domination|publisher=DatacenterDynamics|access-date=March 19, 2013|url-status=dead |archive-url=https://web.archive.org/web/20121114181613/http://www.datacenterdynamics.com/focus/archive/2012/05/bloomberg-cloud-built-world-domination|archive-date=November 14, 2012}}</ref> |
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==''Bloomberg Markets''== |
==''Bloomberg Markets''== |
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{{see also| Bloomberg Markets}} |
{{see also| Bloomberg Markets}} |
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Originally launched in July 1992 under the title ''Bloomberg: A Magazine for Bloomberg Users'', ''[[Bloomberg Markets]]'' was a monthly magazine given to all Bloomberg Professional Service subscribers.<ref>{{cite web|url=https://www.prweek.com/article/168343|title=MEDIA: Bloomberg's mag to be launched in the UK high street|publisher=[[Haymarket Media Group#Haymarket Business Media|BrandRepublic]]|date= |
Originally launched in July 1992 under the title ''Bloomberg: A Magazine for Bloomberg Users'', ''[[Bloomberg Markets]]'' was a monthly magazine given to all Bloomberg Professional Service subscribers.<ref>{{cite web|url=https://www.prweek.com/article/168343|title=MEDIA: Bloomberg's mag to be launched in the UK high street|publisher=[[Haymarket Media Group#Haymarket Business Media|BrandRepublic]]|date=January 17, 2003|author=Ian Hall|access-date=March 19, 2013|archive-date=April 28, 2014|archive-url=https://web.archive.org/web/20140428113056/http://www.prweek.com/article/168343|url-status=live}}</ref> In addition to providing international financial news to industry professionals, the magazine included points for navigating terminal functionality. In 2010, the magazine was redesigned in an effort to update its readership beyond terminal users.<ref>{{cite magazine|url=http://www.adweek.com/news/press/bloomberg-strikes-again-132453|title=MEDIA: Bloomberg Strikes Again|magazine=[[AdWeek]]|access-date=March 19, 2013}}</ref> Ron Henkoff has served as editor of ''Bloomberg Markets'' since 1999<ref>{{cite web|url=http://www.bloomberglink.com/people/ronald-henkoff/|title=MEDIA: Ronald Henkoff|publisher=Bloomberg Link|access-date=March 19, 2013|url-status=dead|archive-url=https://web.archive.org/web/20121201162031/http://www.bloomberglink.com/people/ronald-henkoff/|archive-date=December 1, 2012}}</ref> and Michael Dukmejian has served as the magazine's publisher since 2009.<ref>{{cite press release|url=https://www.reuters.com/article/2009/06/24/idUS188318+24-Jun-2009+PRN20090624|title=Michael Dukmejian Joins BLOOMBERG MARKETS Magazine As Publisher|publisher=[[Reuters]]|date=June 24, 2009|author=Angela Martin|access-date=March 19, 2013|url-status=dead|archive-url=https://web.archive.org/web/20121114155702/https://www.reuters.com/article/2009/06/24/idUS188318%2B24-Jun-2009%2BPRN20090624|archive-date=November 14, 2012}}</ref> |
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==Bloomberg Opinion== |
==Bloomberg Opinion== |
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Bloomberg Opinion, formerly Bloomberg View, is an editorial division of Bloomberg News which launched in May 2011, and provides content from columnists, authors and editors about current news issues.<ref>{{cite news|url=http://www.politico.com/blogs/onmedia/0411/Bloomberg_View_reveals_columnists_ed_board.html|title=Bloomberg View reveals columnists, editorial board|publisher=[[Politico]]|access-date=2013- |
Bloomberg Opinion, formerly Bloomberg View, is an editorial division of Bloomberg News which launched in May 2011, and provides content from columnists, authors and editors about current news issues.<ref>{{cite news|url=http://www.politico.com/blogs/onmedia/0411/Bloomberg_View_reveals_columnists_ed_board.html|title=Bloomberg View reveals columnists, editorial board|publisher=[[Politico]]|access-date=March 20, 2013|archive-date=May 2, 2011|archive-url=https://web.archive.org/web/20110502031357/http://www.politico.com/blogs/onmedia/0411/Bloomberg_View_reveals_columnists_ed_board.html|url-status=live}}</ref> Timothy L. O'Brien, a former New York Times reporter and editor, is senior executive editor of the division.<ref>{{cite news|url=https://talkingbiznews.com/media-news/obrien-named-editor-of-bloomberg-opinion/|title=O'Brien named editor of Bloomberg Opinion|newspaper=[[Talking Biz News]]|date=July 7, 2022|author=Chris Roush|access-date=January 11, 2023|archive-date=January 12, 2023|archive-url=https://web.archive.org/web/20230112022308/https://talkingbiznews.com/media-news/obrien-named-editor-of-bloomberg-opinion/|url-status=live}}</ref> |
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Bloomberg Editor-in-Chief John Micklethwait admitted in an email to staffers that [[Michael Bloomberg]] controls the editorial output of the Opinion section, stating "our editorials have reflected his views".<ref name=":0">{{Cite web |last=Dreier |first=Hannah |date=February 27, 2020 |title=When the Billionaire Family Behind the Opioid Crisis Needed PR Help, They Turned to Mike Bloomberg |url=https://www.propublica.org/article/bloomberg-sacklers-opioid-crisis-public-relations |access-date=August 12, 2023 |website=ProPublica |language=en |archive-date=August 12, 2023 |archive-url=https://web.archive.org/web/20230812124544/https://www.propublica.org/article/bloomberg-sacklers-opioid-crisis-public-relations |url-status=live }}</ref> In 2017, Michael Bloomberg threatened to close Bloomberg View, part of the Bloomberg Opinion, after [[John Paulson]], a billionaire hedge fund manager gave him a call. Paulson was upset about a column that suggested his record-breaking donation to [[Harvard University|Harvard]] should have gone to "literally any other charity." Bloomberg changed his mind over the weekend, but the columnist was given a talking to, according to people familiar with the incident.<ref name=":0" /> |
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Bloomberg Editor-in-Chief John Micklethwait admitted in an email to staffers that [[Michael Bloomberg]] controls the editorial output of the Opinion section, stating "our editorials have reflected his views".{{Citation needed|date=December 2020}} |
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==Bloomberg Politics== |
==Bloomberg Politics== |
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⚫ | Bloomberg Politics provides political coverage via digital, print and broadcast media.<ref>{{cite press release|url=https://www.bloomberg.com/now/press-releases/bloomberg-announces-first-new-digitally-led-multi-platform-brand-bloomberg-politics/|title=Bloomberg Announces First New Digital-Led, Multi-Platform Brand: Bloomberg Politics|publisher=Bloomberg News|date=May 4, 2014|access-date=September 23, 2014|url-status=dead|archive-url=https://web.archive.org/web/20140506000905/http://www.bloomberg.com/now/press-releases/bloomberg-announces-first-new-digitally-led-multi-platform-brand-bloomberg-politics/|archive-date=May 6, 2014}}</ref><ref>{{cite news|url=http://www.capitalnewyork.com/article/media/2014/08/8550157/mike-nizza-named-executive-editor-bloombergs-politics-site|title=Mike Nizza named executive editor of Bloomberg's politics site|publisher=[[Politico#State editions|Capital New York]]|date=August 4, 2014|author=Joe Pompeo|access-date=September 23, 2014|archive-url=https://web.archive.org/web/20140909102603/http://www.capitalnewyork.com/article/media/2014/08/8550157/mike-nizza-named-executive-editor-bloombergs-politics-site|archive-date=September 9, 2014|url-status=dead}}</ref> The multimedia venture, which debuted in October 2014, featured the daily television news program ''[[With All Due Respect (TV series)|With All Due Respect]]'', hosted by Bloomberg Politics Managing Editors [[Mark Halperin]] and [[John Heilemann]].<ref>{{cite news|url=http://www.politico.com/blogs/media/2014/10/bloomberg-politics-kicks-off-196614.html|title=Bloomberg Politics kicks off|publisher=Politico|date=October 5, 2014|author=Hadas Gold|author-link=Hadas Gold|access-date=October 16, 2014|archive-date=October 22, 2014|archive-url=https://web.archive.org/web/20141022220406/http://www.politico.com/blogs/media/2014/10/bloomberg-politics-kicks-off-196614.html|url-status=live}}</ref> The program came to an end on December 2, 2016.<ref>{{cite news|url=https://www.politico.com/blogs/on-media/2016/11/bloomberg-to-end-with-all-due-respect-as-company-reorganizes-bloomberg-politics-231563|title=Bloomberg to end 'With All Due Respect' as company reorganizes Bloomberg Politics|publisher=Politico|author1=Kelsey Sutton|author2=Hadas Gold|author3=Joe Pompeo|access-date=March 1, 2017|archive-date=June 23, 2019|archive-url=https://web.archive.org/web/20190623194207/https://www.politico.com/blogs/on-media/2016/11/bloomberg-to-end-with-all-due-respect-as-company-reorganizes-bloomberg-politics-231563|url-status=live}}</ref><ref>{{cite news|url=https://www.nytimes.com/2016/11/18/business/media/bloomberg-to-end-its-daily-politics-show.html|title=Bloomberg to End Its Daily Politics Show|newspaper=[[The New York Times]]|date=November 17, 2016|author=Sydney Ember|issn=0362-4331|access-date=February 16, 2019|language=en-US|archive-date=December 17, 2016|archive-url=https://web.archive.org/web/20161217002716/http://www.nytimes.com/2016/11/18/business/media/bloomberg-to-end-its-daily-politics-show.html|url-status=live}}</ref> |
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{{Update section|date=February 2017}} |
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⚫ | In 2016, Bloomberg Politics produced a documentary on the [[2016 United States presidential election|2016 US presidential election]] called ''[[The Circus: Inside the Greatest Political Show on Earth]]''.<ref>{{cite web|url=https://money.cnn.com/2015/12/15/media/showtime-campaign-documentary-the-circus/|title=Showtime creating weekly documentary series about 2016 election 'circus'|website=[[CNN Business|CNN Money]]|date=December 15, 2015|author=Brian Stelter|access-date=January 26, 2018|archive-date=June 23, 2019|archive-url=https://web.archive.org/web/20190623194211/https://money.cnn.com/2015/12/15/media/showtime-campaign-documentary-the-circus/|url-status=live}}</ref> |
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⚫ | Bloomberg Politics provides political coverage via digital, print and broadcast media.<ref>{{cite press release|url=https://www.bloomberg.com/now/press-releases/bloomberg-announces-first-new-digitally-led-multi-platform-brand-bloomberg-politics/|title=Bloomberg Announces First New Digital-Led, Multi-Platform Brand: Bloomberg Politics|publisher=Bloomberg News|date=2014 |
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As of 2024, Bloomberg Politics covers political events in the Americas, United Kingdom, Americas, Europe, Asia, and the Middle East.<ref>{{Cite web |title=Bloomberg Politics |url=https://www.bloomberg.com/politics |access-date=2024-06-07 |website=www.bloomberg.com}}</ref> Bloomberg's section on U.S. politics primarily covers national news and American foreign policy.<ref>{{Cite web |title=Bloomberg |url=https://www.bloomberg.com/us-politics |access-date=2024-06-07 |website=www.bloomberg.com}}</ref> |
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⚫ | In 2016, Bloomberg Politics produced a documentary on the [[2016 United States presidential election|2016 US presidential election]] called ''[[The Circus: Inside the Greatest Political Show on Earth]]''.<ref>{{cite web|url=https://money.cnn.com/2015/12/15/media/showtime-campaign-documentary-the-circus/|title=Showtime creating weekly documentary series about 2016 election 'circus'|website=[[CNN Business|CNN Money]]|date= |
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== See also == |
== See also == |
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==External links== |
==External links== |
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* [https://www.bloomberg.com/news/ Bloomberg News] – |
* [https://www.bloomberg.com/news/ Bloomberg News] – official website (Subscription needed to read articles) |
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* [https://www.bloomberg.com/ Bloomberg.com] – |
* [https://www.bloomberg.com/ Bloomberg.com] – official Bloomberg L.P. website |
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* [https://www.bloomberg.com/politics Bloomberg Politics] |
* [https://www.bloomberg.com/politics Bloomberg Politics] – official politics website (Subscription needed to read articles) |
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* [http://www.hoovers.com/company-information/cs/company-profile.bloomberg_lp.cac75f34add153fa.html Hoover's Bloomberg L.P. Company |
* [http://www.hoovers.com/company-information/cs/company-profile.bloomberg_lp.cac75f34add153fa.html Hoover's Bloomberg L.P. Company profile] |
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[[Category:Bloomberg L.P.|News]] |
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[[Category:Companies based in New York City]] |
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[[Category:News agencies based in the United States]] |
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[[Category:Mass media companies based in New York City]] |
[[Category:Mass media companies based in New York City]] |
Revision as of 13:35, 3 July 2024
![]() | |
Formerly | Bloomberg Business News (1990–1997) |
---|---|
Company type | Division |
Industry | News agency |
Founded | 1990 |
Founders | Michael Bloomberg Matthew Winkler |
Headquarters | Bloomberg Tower, 731 Lexington Avenue, Manhattan, New York City Bloomberg London (London and Europe) Marina Bay Financial Centre, Singapore (Asia–Pacific) Pacific Place Jakarta, Sudirman Central Business District, Jakarta (Asia–Pacific) |
Key people | John Micklethwait (Editor-in-chief) |
Owner | Michael Bloomberg (88%) and Bank of America (12%; through Merrill Lynch) |
Number of employees | 2,300 |
Parent | Bloomberg L.P. |
Website | www |
Footnotes / references [1] |
| ||
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![]() |
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Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Television, Bloomberg Radio, Bloomberg Businessweek, Bloomberg Markets, Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, John Micklethwait has been editor-in-chief.[2]
History
Bloomberg News was founded by Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers.[3]
The agency was established in 1990 with a team of six people.[4] Winkler was first editor-in-chief.[5] In 2010, Bloomberg News included more than 2,300 editors and reporters in 72 countries and 146 news bureaus worldwide.[6][7]
Beginnings (1990–1995)
Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for The Wall Street Journal, Michael Bloomberg telephoned him in November 1989 and asked, "What would it take to get into the news business?"[8]
In his book, The Bloomberg Way, Winkler recalls a conversation with Bloomberg about a hypothetical ethical dilemma which could have arisen from Bloomberg's interest in creating a newspaper:
"You have just published a story that says the chairman—and I mean chairman—of your biggest customer has taken $5 million from the corporate till. He is with his secretary at a Rio de Janeiro resort, and the secretary's spurned boyfriend calls to tip you off. You get an independent verification that the story is true. Then the phone rings. The customer's public-relations person says, 'Kill the story or we will return all the terminals we currently rent from you.'"
"What would you do?" Winkler asked.
"Go with the story," Bloomberg replied. "Our lawyers will love the fees you generate."[9][10]
Winkler recalls this as his "deciding moment", the time at which he became willing to help Bloomberg build his news organization.[9][10]
The publication was created to provide concise, timely financial news.[11] As a new company in 1990, Bloomberg hoped that the news service would spread the company name, sell more Bloomberg Terminals and end Bloomberg's reliance on the Dow Jones News Services.[3]
The creation of Bloomberg Business News required Winkler to open a Bloomberg office in Washington, D.C., to report about political effects on the business world. However, the Standing Committee of Correspondents (SCC) in Washington required Bloomberg News be formally accredited to act as a legitimate news source, a title that Bloomberg Business News only accomplished after agreeing to provide free terminals to major newspapers in exchange for news space in the publications.[3] During this growth period Bloomberg News opened a small television station in New York, purchased New York radio station WNEW, launched fifteen-minute weekday business news programs for broadcast on PBS, and opened offices in Hong Kong and Frankfurt, Germany.[3]
1995–2000
The initial goal of Bloomberg Business News to increase terminal sales was met by the mid-1990s and the company refocused the scope of its news service to rival the profitability of other media groups such as Reuters and Dow Jones. This led to the creation of Bloomberg's magazine, Bloomberg Personal, in 1995, which was carried in the Sunday edition of 18 U.S. papers.[12] In 1994, Bloomberg launched a 24-hour financial news service through Bloomberg Information Television, which was broadcast on DirecTV. Bloomberg also launched a web site to provide the audio feed of its radio broadcasts.[3] Bloomberg Business News was renamed Bloomberg News in 1997.[citation needed]
2000–2014
In 2009 Bloomberg News and The Washington Post launched a global news service known as The Washington Post News Service with Bloomberg News, to provide economic and political news.[13]
In April 2014, Bloomberg News launched the Bloomberg Luxury lifestyle section of its paper.[14] The section's content covers topics including travel, wine news, dining, auto news, gadgets, technology news, and more. It also highlights content from Bloomberg's quarterly lifestyle and luxury magazine, Pursuits.[citation needed]
Business in China
In 2012, Bloomberg News published investigative series titled "Revolution to Riches", which focused on China's political elite. The series won that year's George Polk Award for International Reporting.[15][16] One story in the series delved into the family wealth of Chinese leader Xi Jinping.[17] However, before publishing the Xi story, Bloomberg executives and senior editors met with Chinese diplomats twice, without informing the journalists working on the story.[18] Zhang Yesui, the Chinese ambassador to the United States, reportedly threatened Bloomberg with consequences for its Chinese operations if it published the story.[18] Bloomberg's editor-in-chief, Matthew Winkler, reportedly refused to stop the story from being published. Then-CEO Daniel Doctoroff also reportedly defended the investigation and insisted on publishing it, although he insisted on changes to soften the story's impact.[18] After the story was published in June 2012, the Chinese government ordered state enterprises not to subscribe to Bloomberg News. The company's website was also blocked on Chinese servers, and it was unable to obtain visas for journalists it wanted to send to China.[19]
The following year, Bloomberg shut down an ongoing investigation into the financial ties between a wealthy Chinese businessman and top Chinese leaders' families. Another planned article "about the children of senior Chinese officials employed by foreign banks" was also killed, according to Bloomberg employees.[20] At least five journalists and editors, including the lead writer on the Xi story,[18] left the company after news reports about the decision appeared.[21] One of the journalists said Bloomberg had disparaged "the team that worked so hard to execute an incredibly demanding story" and claimed it threatened the journalists who worked on the story with legal action if they discussed the incident publicly.[22][23]
Bloomberg's top editors, including the senior editor on the stories, Laurie Hays, and editor-in-chief Matthew Winkler denied that the stories were killed.[20] However, this was contradicted by several anonymous Bloomberg employees. According to one employee, Winkler had said, "If we run the story, we'll be kicked out of China."[20][22] Michael Bloomberg, founder of the company, also denied the accusation, but noted that he had recused himself from the company's operations as he was serving as mayor of New York.[24]
After the incidents, Bloomberg set about trying to repair its relationship with the Chinese government. By 2015, Bloomberg's reporters began receiving visas again.[21] Bloomberg Chairman Peter Grauer told the staff at the Bloomberg Hong Kong bureau that the company's sales team had done a "heroic job" of mending relations with Chinese officials who had indicated their displeasure about the publication of the Xi revelations. He also warned that if Bloomberg "were to do anything like" the Xi story again, the company would "be straight back in the shit-box."[18]
Bloomberg was widely criticized for how it handled the controversy. Howard French, a professor of journalism, wrote that Bloomberg had "tainted its corporate identity and journalism brand to a degree that could last for years."[18]
2015 refocus
In 2015, an internal memo written by editor-in-chief John Micklethwait was leaked to the public. This memo indicated an intent to refocus the agency to better target its core audience, "the clever customer who is short of time", and better achieve the goal of being "the definitive 'chronicle of capitalism.'"[2] This change led to a reduction in reporting on general interest topics in favor of content related to business and economics.[2]
2018 redesign and paywall
In 2018, Micklethwait announced a new digital design for Bloomberg News. Bloomberg uses a metered paywall to charge visitors for content, limiting users to view 10 free articles per month with unlimited re-read option, and 30 minutes of Bloomberg Television watch per day with reset at local midnight time.[25][26]
In 2018, Bloomberg Businessweek, a subsidiary of Bloomberg News, published an article alleging that the Chinese government had hacked several American companies, including Apple Inc. and Amazon, by placing secret integrated circuits into their computers. Apple and Amazon strongly denied the report. The incident became a long-running dispute between Bloomberg; the U.S. Department of Homeland Security and the U.K. National Cyber Security Centre both issues statements supporting the companies' denials of the story.[27] In 2021, Bloomberg published a follow-up article standing by its allegations.[28][29]
In 2016, Bloomberg published a news release claiming to be from Vinci SA, a French construction company, that it had discovered accounting irregularities and had to revise its earnings reports. The news release turned out to be a hoax. Vinci's stock briefly fell by 18% when Bloomberg published it, although it quickly recovered once it became clear it was not true. In 2019, France's stock markets regulator, the Autorité des marchés financiers, fined Bloomberg €5 million for publishing the report, stating that it should have known it was false.[30] An appeals court reduced the fine to €3 million in 2021.[31]
Michael Bloomberg presidential campaign
In November 2019, as Michael Bloomberg announced his presidential campaign, editor-in-chief John Micklethwait ordered his staff not to investigate their boss, nor any other Democratic candidates, while investigations into Donald Trump would continue, "as the government of the day".[32] Subsequent reporting said Micklethwait was referring to a team of specialized investigative reporters, as opposed to the overall political team, but he would not elaborate or issue a public clarification despite newsroom staff wishing for him to do so. Investigative journalists and political reporters operate separately but reporting indicates this distinction would not be clear to the general public.[33]
Following Bloomberg's announcement, the Houston Chronicle dropped Bloomberg as a source for the 2020 Presidential campaign, saying that "journalists should not choose targets based on their political affiliation."[34] Former Bloomberg News DC Bureau Chief Megan Murphy also criticized the decision, saying it bars "talented reporters and editors from covering massive, crucial aspects of one of the defining elections of our time" and calling the decision to avoid coverage "not journalism".[35] Responding to the controversy, Michael Bloomberg told CBS News: "We just have to learn to live with some things." He added that his reporters "get a paycheck. But with your paycheck comes some restrictions and responsibilities."[36]
Bloomberg suspended his campaign on March 4, 2020, the day after Super Tuesday.
Bloomberg Businessweek
Bloomberg L.P. bought weekly business magazine Businessweek from McGraw-Hill in 2009.[37] The company acquired the magazine to attract general business to its media audience composed primarily of terminal subscribers. Following the acquisition, Businessweek was renamed Bloomberg Businessweek.[38] Bloomberg Businessweek became a part of Bloomberg News after the acquisition from Bloomberg L.P.[39]
Bloomberg Television
Bloomberg Television is a 24-hour financial news television network. It was introduced in 1994 as a subscription service transmitted on satellite television provider DirecTV, 13 hours a day, 7 days a week.[40] In 1995, the network entered the cable television market and by 2000, Bloomberg's 24-hour news programming was being aired to 200 million households.[41] Justin Smith serves as CEO of the Bloomberg Media Group which includes Bloomberg Radio, Bloomberg Television and mobile, online and advertising-supported components of Bloomberg's media offerings.[42]
Bloomberg Markets
Originally launched in July 1992 under the title Bloomberg: A Magazine for Bloomberg Users, Bloomberg Markets was a monthly magazine given to all Bloomberg Professional Service subscribers.[43] In addition to providing international financial news to industry professionals, the magazine included points for navigating terminal functionality. In 2010, the magazine was redesigned in an effort to update its readership beyond terminal users.[44] Ron Henkoff has served as editor of Bloomberg Markets since 1999[45] and Michael Dukmejian has served as the magazine's publisher since 2009.[46]
Bloomberg Opinion
Bloomberg Opinion, formerly Bloomberg View, is an editorial division of Bloomberg News which launched in May 2011, and provides content from columnists, authors and editors about current news issues.[47] Timothy L. O'Brien, a former New York Times reporter and editor, is senior executive editor of the division.[48]
Bloomberg Editor-in-Chief John Micklethwait admitted in an email to staffers that Michael Bloomberg controls the editorial output of the Opinion section, stating "our editorials have reflected his views".[49] In 2017, Michael Bloomberg threatened to close Bloomberg View, part of the Bloomberg Opinion, after John Paulson, a billionaire hedge fund manager gave him a call. Paulson was upset about a column that suggested his record-breaking donation to Harvard should have gone to "literally any other charity." Bloomberg changed his mind over the weekend, but the columnist was given a talking to, according to people familiar with the incident.[49]
Bloomberg Politics
Bloomberg Politics provides political coverage via digital, print and broadcast media.[50][51] The multimedia venture, which debuted in October 2014, featured the daily television news program With All Due Respect, hosted by Bloomberg Politics Managing Editors Mark Halperin and John Heilemann.[52] The program came to an end on December 2, 2016.[53][54]
In 2016, Bloomberg Politics produced a documentary on the 2016 US presidential election called The Circus: Inside the Greatest Political Show on Earth.[55]
As of 2024, Bloomberg Politics covers political events in the Americas, United Kingdom, Americas, Europe, Asia, and the Middle East.[56] Bloomberg's section on U.S. politics primarily covers national news and American foreign policy.[57]
See also
References
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External links
- Bloomberg News – official website (Subscription needed to read articles)
- Bloomberg.com – official Bloomberg L.P. website
- Bloomberg Politics – official politics website (Subscription needed to read articles)
- Hoover's Bloomberg L.P. Company profile