The biggest news agency in the world, Reuters had a turnover of £2,914m in 1995. The largest part of Reuters’ earnings comes from the sale of financial information, which reflects the entrepreneurial genius of its founder Paul Julius Reuter who used carrier pigeons to fly stock prices between Aachen and Brussels in 1849. Reuters’ huge growth dates from the 1974 introduction of computer-based displays of real-time foreign exchange, and the 1981 birth of the Reuters Monitor Dealing Service. By 1997 Reuters had become a financial services giant, and a leading source of international news for the world’s media. Though a public company traded in London and New York, Reuters has elaborate provisions to safeguard its independence.
   See also: IRN; news, television

Encyclopedia of contemporary British culture . . 2014.

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