Bloomberg is the world's largest agency that provides financial and economic information, both for professional participants in the financial market and for individual businessmen. It prepares and publishes about 2500 information messages per day.
Brand history
The founder of the company is Michael Rubens Bloomberg, who in 1981, together with his three associates, established a financial advisory firm called Innovative Market Systems. One of the first serious clients of the company is the consulting company Merrill Lynch. Later it will buy back 20% of the shares from Bloomberg’s association. This moment served in its time as an impetus to a new stage.
In 1986, the company was renamed Bloomberg LP and began to grow rapidly. The owner relies on young and inexperienced professionals, motivating this by the fact that they will want to learn new things and develop together with the company. In addition, this decision helped to save significantly on salaries.
In July 2008, the sold 20% of the shares were bought back by the founder. Since then, Bloomberg is a privately held company with 88% of the shares in the same hands. The main office is located in the USA, in the center of New York at the Bloomberg Tower skyscraper. Official offices are available in London and Tokyo.
The main competitor of the multinational project Bloomberg is the British media company Reuters.
News Agency Activities
Today Bloomberg is a multinational agency for the supply of financial and economic information, and recently, a political component has been added to this. The potential and technical equipment allow us to deliver high-quality and efficient financial news in a non-stop mode. For example, indicators are constantly updated:
- "Forex";
- the activities of the world's largest corporations;
- value of securities;
- financial markets;
- exchange rates;
- the value of gold and so on.
Forecasting Bloomberg is often the most accurate hit of the values of economic indicators in the future. The generated forecasts form the development of the world's largest companies, including Russian ones.
A distinctive feature of the agency is the openness and information availability of any financial reports to all interested persons or organizations.
As noted, the experts of the corporation are engaged in analytical activities, therefore they often create various ratings, which are distinguished by high reliability and interest. For instance:
- ranking of the richest families in the world;
- rating of countries where it is most comfortable to do business;
- rating of the richest people in the world;
- A rating of states allowing citizenship for money;
- Rating of cities with the highest cost of housing per night and others.
Services for financial markets
The main product of the company's development is Terminal Bloomberg. This is a computer-integrated system that allows you to access all historical and current prices of all world exchanges, and also allows you to participate in the electronic trading of securities and foreign exchange assets. The program is available for rent for a period of two years with monthly payments.
In addition, the Bloomberg Corporation information service includes:
- television channel BloombergTV;
- magazines Bloomberg BusinessWeek and Bloomberg Markets;
- specialized sites;
- applications for smartphones;
- Radio station BloombergRadio.
The agency entered into an agreement with RBC, now on its channel you can see the broadcast of the news feed from Bloomberg in Russian. Since 2001, in addition to financial analytics, social and political programs have been added to the broadcasting network.
Information system
Within the framework of the International State Institute of International Relations (MGIMO), training seminars are held by Bloomberg. As a rule, they are held in English. Course modules include the following topics:
- economic indicators (primacy, monitoring and forecasting of GDP);
- currencies (market mechanics, valuation and currency risks);
- fixed income securities (bonds, bank interest rates, yield curve);
- stock market (stock market concept, features, analysis and evaluation of the stock market).
A characteristic feature of Bloomberg is its loyalty to information technology, following which has allowed it to rise so high. Therefore, all training is carried out in the form of webinars or individual interactive courses.
Code of allegiance
Michael Bloomberg is convinced that dedication is the foundation of his business concept. He will never take back the resigned employee. And, according to him, he will not even give his hands goodbye to such a person. People working here consider the company theirs, think in its interests and help each other.
What is Bloomberg today? This is a fantastic growth of the company staff with a staff turnover of only 10%. All relationships within the company are built on trust between employees and management. Work in this news agency is a philosophy of life in the opinion of both ordinary staff and managers.
Bloomberg in Russia
Since 2010, at Bloomberg, the Russian direction of development has become a priority, this is due to the large reserves of fuel and energy resources. At the same time, the broadcast of current news in Russian becomes available.
The interface and work in the paid Professional terminal were also adapted for the Russian user. Connection to the program is available via the Internet. Today, there you can see messages about stock exchange events online.
Interfax Agency has entered into a partnership agreement with a global financial news provider, and now, thanks to their joint cooperation, the official Bloomberg website is also available in Russian.