Reuters Breakingviews columnist resigns, others being probed

Oct 18, 2010
A columnist for Reuters Breakingviews has resigned after violating the Thomson Reuters code of conduct on trading shares and other commentators at the financial news and analysis service are being investigated, the news agency said Monday.

A columnist for Reuters Breakingviews has resigned after violating the Thomson Reuters code of conduct on trading shares and other commentators at the financial news and analysis service are being investigated, the news agency said Monday.

Reuters, in a story about the resignation, said the Reuters Breakingviews had been involved in "multiple breaches" of the .

Reuters did not name the columnist who resigned but Britain's Guardian newspaper identified him as London-based Neil Collins, a veteran British financial journalist.

According to the Guardian, Collins failed to declare his ownership of shares in a number of companies he covered including BP and Marks & Spencer.

Reuters quoted editor-in-chief David Schlesinger as saying the columnist had written about companies in which he had a financial interest and made trades shortly afterwards.

"While we have no evidence the journalist was abusing his position for financial gain, we take such breaches extremely seriously and that journalist resigned with immediate effect during our investigation," Schlesinger was quoted as telling Reuters staff.

Schlesinger said several other cases were being investigated.

Reuters said its code of conduct forbids journalists from writing about companies whose shares they own unless they notify management of their holdings.

It said journalists are also prohibited from dealing in shares about which they have written recently or about which they intend to write in the near future.

Reuters said it was not currently a requirement that columnists and news staff declare relevant securities holdings at the foot of their columns or stories but the policy is under review.

Thomson Reuters bought Breakingviews in December 2009.

Its syndication partners include The New York Times, International Herald Tribune, The Daily Telegraph, Le Monde, El Pais and other newspapers.

Explore further: Sony's quarterly loss balloons on mobile woes

add to favorites email to friend print save as pdf

Related Stories

Artificial Intelligence to tackle rogue traders

Apr 09, 2009

As the Credit Crunch continues to affect the worldwide markets the need for efficient methods to combat financial fraud has become more important than ever. Now researchers at the University of Sunderland are working on ...

Improvement in chip divisions boosts profit at TI

Apr 26, 2010

(AP) -- Texas Instruments Inc.'s first-quarter profit leaped after the chip maker improved results in all its product lines, and the company offered an outlook better than what financial analysts were expecting.

Texas Instruments 2Q profit falls 56 percent

Jul 20, 2009

(AP) -- Chip maker Texas Instruments says its second-quarter earnings fell 56 percent from a year ago, clipped by a weak economy that the company expects will "take some time" to strengthen.

TI 2Q revenue rises 42 pct as demand roars back

Jul 19, 2010

(AP) -- Texas Instruments Inc.' second-quarter income and revenue jumped as demand continued to recover after the recession. The company predicted even better results in the new quarter.

Recommended for you

Sony's quarterly loss balloons on mobile woes

13 hours ago

Sony's losses ballooned to 136 billion yen ($1.2 billion) last quarter as the Japanese electronics and entertainment company's troubled mobile phone division reported huge red ink.

Will Apple Pay be mobile pay's kick-start?

20 hours ago

If anyone can get us to use our smartphones as wallets, it's Apple. That's what experts think about the recent launch of Apple Pay, the first mobile wallet to work on an iPhone.

Google execs discuss regulation, innovation and bobble-heads

22 hours ago

Eric Schmidt and Jonathan Rosenberg help run Google, one of the world's best-known, most successful - and most controversial - companies. They've just published a new book, "How Google Works," a guide to managing what they ...

LinkedIn reports 3Q loss but sales climb

23 hours ago

LinkedIn Corp. posted a third-quarter loss on Thursday, but its results were better than expected as revenue grew sharply, sending shares of the online professional networking service higher in extended trading.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.