Posted AT 9:58 PM EDT on 01/05/08
Thomson Reuters ‘not immune' to credit crisis
The newly formed Thomson Reuters Corp. said Thursday that cutbacks in the banking industry may dent its financial data business, but the blow will likely be softer than expected.
Though the mortgage and credit crisis has sent shockwaves through the financial sector, punctuated by the recent buyout of struggling Wall Street investment bank Bear Stearns by rival JPMorgan Chase, executives believe other areas of Thomson Reuters should prove resilient in a downturn.
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