Reuters being investigated by grand jury in the US

Reuters is being investigated by a grand jury in the US. Its Reuters Analytics subsidiary is suspected of having obtained illegal access to reports by competitor Bloomberg.

Reuters said the matter was the "subject of a grand jury investigation" in New York, aimed at determining whether Reuters Analytics "improperly obtained access to and used information from Bloomberg LP's product". Reuters said it was co-operating with legal authorities and had hired an outside firm to make an internal inquiry. Bloomberg chief, Mr Michael Bloomberg, said he had been informed about the case, but had no comment. A Reuters spokesman said Reuters Analytics constituted only a small part of the group's product range, working on data banks in connection with bonds. It is based in Stamford, Connecticut.