Bloomberg Service
The financial news service, Bloomberg L.P., was founded in 1981 by businessman and current New York City Mayor Michael Bloomberg. The service provides financial data and news to financial companies and institutions around the world through Bloomberg Terminal, the service's primary income generating vehicle. Bloomberg L.P. includes (in addition to the global news service) radio, television, and Internet outlets as well as publications.
Some 72 percent of the news service continues to be held by Michael Bloomberg, which entitles him to approximately 84.55 percent of the company's profits. The Bloomberg service's major competitors are Reuters and the Dow Jones Newswires. In North America, the Bloomberg service claims approximately 100,000 clients with an additional 130,000 worldwide.
Commentators for the Bloomberg service are considered among some of the most informative in the industry and overall the service plays a major role in the financial life of the United States and of the world.
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