Bloomberg News facts for kids
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Formerly
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Bloomberg Business News (1990–1997) |
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| 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) |
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Key people
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John Micklethwait (editor-in-chief) |
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Number of employees
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2,300 |
| Parent | Bloomberg L.P. |
Bloomberg News is a big international news company. It started as Bloomberg Business News. Its main office is in New York City. It is part of a larger company called Bloomberg L.P.. You can find news from Bloomberg News on special computer terminals, on TV (Bloomberg Television), on the radio (Bloomberg Radio), in magazines like Bloomberg Businessweek and Bloomberg Markets, on their website Bloomberg.com, and on mobile apps. Since 2015, John Micklethwait has been the main editor, called the editor-in-chief.
Contents
How Bloomberg News Started
Bloomberg News was created in 1990 by Michael Bloomberg and Matthew Winkler. Their goal was to give financial news to people who used Bloomberg's special computer terminals.
The company began with just six people. Matthew Winkler was the first editor-in-chief. By 2010, Bloomberg News had more than 2,300 editors and reporters. They worked in 72 countries and had 146 news offices around the world.
Early Years (1990–1995)
Bloomberg Business News was made to offer more services through the Bloomberg terminals. Matthew Winkler, who used to write for The Wall Street Journal, said that Michael Bloomberg called him in 1989. Michael asked him how to start a news business.
Winkler remembered a talk with Bloomberg about a tough choice. What if a big customer asked them to hide a true story? Bloomberg said they should always publish the truth. This showed Winkler that Bloomberg was serious about honest reporting.
The news service was created to give quick and clear financial news. In 1990, Bloomberg hoped the news service would help more people know about the company. It also aimed to sell more Bloomberg Terminals.
To grow, Bloomberg News opened an office in Washington, D.C.. This office reported on how politics affected business. Bloomberg News also started a small TV station in New York. They bought a radio station and launched short business news shows for TV. They also opened offices in Hong Kong and Frankfurt, Germany.
Growing Bigger (1995–2000)
By the mid-1990s, Bloomberg Business News had met its goal of selling more terminals. The company then focused on making its news service as successful as other big news groups.
In 1995, they launched a magazine called Bloomberg Personal. In 1994, Bloomberg started a 24-hour financial news service called Bloomberg Information Television. It was available on DirecTV. Bloomberg also launched a website for its radio shows. In 1997, Bloomberg Business News changed its name to Bloomberg News.
News in the 2000s
In 2009, Bloomberg News teamed up with The Washington Post. They started a global news service together. This service provided news about money and politics.
In 2014, Bloomberg News added a new section called Bloomberg Luxury. This part of their news covered topics like travel, food, cars, and new technology. It also shared content from their magazine, Pursuits.
Reporting in China
In 2012, Bloomberg News published a series of stories called "Revolution to Riches." These stories looked into the wealth of China's political leaders. One story was about the family wealth of Chinese leader Xi Jinping. This series won an award for international reporting.
After the story about Xi Jinping was published, the Chinese government asked its companies not to use Bloomberg News. Bloomberg's website was also blocked in China. It became hard for their journalists to get visas to work there.
Later, Bloomberg stopped some other stories about wealthy Chinese people. Some journalists left the company because of these decisions. Bloomberg's leaders said the stories were not stopped. However, some employees said they were.
After these events, Bloomberg worked to improve its relationship with the Chinese government. By 2015, Bloomberg reporters started getting visas again.
Changes in 2015
In 2015, the editor-in-chief, John Micklethwait, shared a plan to focus the news agency more. The goal was to serve "the clever customer who is short of time." This meant focusing more on business and economics news. They reported less on general interest topics.
New Look and Paywall (2018)
In 2018, Bloomberg News launched a new digital design. Bloomberg now uses a system where you can read some articles for free. After a certain number, you need to pay to read more. You can view 10 free articles per month and watch 30 minutes of Bloomberg Television each day.
In 2018, Bloomberg Businessweek, which is part of Bloomberg News, published a story. It claimed that the Chinese government had put secret computer chips into computers of American companies like Apple Inc. and Amazon. Both Apple and Amazon strongly said this was not true. The U.S. and U.K. governments also supported the companies' denials. In 2021, Bloomberg published another article saying they stood by their original story.
In 2016, Bloomberg published a news report that turned out to be false. It claimed a French company, Vinci SA, had found problems with its money reports. Vinci's stock price dropped quickly but then went back up. In 2019, France's financial regulator fined Bloomberg for publishing the false report.
Michael Bloomberg's Presidential Campaign
In November 2019, Michael Bloomberg announced he was running for president. The editor-in-chief, John Micklethwait, told his staff not to investigate Michael Bloomberg or other Democratic candidates. However, they would continue to investigate Donald Trump.
Some people criticized this decision. The Houston Chronicle stopped using Bloomberg as a news source for the election. They said journalists should not pick who they report on based on politics. Michael Bloomberg said that his reporters "get a paycheck. But with your paycheck comes some restrictions and responsibilities."
Michael Bloomberg stopped his campaign in March 2020.
2024 Prisoner Exchange
In 2024, during a prisoner exchange between Russia and the U.S., Bloomberg News reported information before it was officially allowed. Other news groups criticized Bloomberg for this. They said it could have put the exchange at risk.
Bloomberg Businessweek
Bloomberg L.P. bought the weekly business magazine Businessweek in 2009. The company bought the magazine to reach more general business readers. After the purchase, Businessweek was renamed Bloomberg Businessweek. It became part of Bloomberg News.
Bloomberg Television
Bloomberg Television is a TV network that shows financial news 24 hours a day. It started in 1994 as a service you could subscribe to on satellite TV. By 2000, Bloomberg's news was shown in 200 million homes.
Bloomberg Markets
Bloomberg Markets is a magazine that started in 1992. It was first given to people who used Bloomberg's special computer services. The magazine gave international financial news and tips on how to use the Bloomberg terminal. In 2010, the magazine was redesigned to reach more readers beyond just terminal users.
Bloomberg Opinion
Bloomberg Opinion is a part of Bloomberg News that started in 2011. It shares ideas and comments from writers and editors about current news.
Michael Bloomberg has a say in what is published in the Opinion section. In 2017, he thought about closing Bloomberg Opinion after a wealthy investor complained about a column. The column suggested his big donation to Harvard should have gone to a different charity. Bloomberg changed his mind, but the writer of the column was spoken to.
Bloomberg Politics
Bloomberg Politics covers political news through online articles, print, and TV. This part of Bloomberg started in 2014. It used to have a daily TV show called With All Due Respect.
In 2016, Bloomberg Politics made a documentary about the 2016 U.S. presidential election. It was called The Circus: Inside the Greatest Political Show on Earth.
As of 2024, Bloomberg Politics covers political events in many parts of the world. This includes the Americas, Europe, Asia, and the Middle East. Their U.S. politics section mainly covers national news and how America deals with other countries.
Images for kids
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Bloomberg News logo
See also
In Spanish: Bloomberg News para niños
