Bloomberg L.P. is an American privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was co-founded by Michael Bloomberg in 1981, with Thomas Secunda, Duncan MacMillan, Charles Zegar,[2] and a 12% ownership investment by Merrill Lynch.[3]
Bloomberg L.P. provides financial software tools and enterprise applications such as analytics and an equity trading platform, data services, and news to financial companies and organizations through the Bloomberg Terminal (via its Bloomberg Professional Service), its core revenue-generating product.[4] Bloomberg L.P. also includes a news agency (Bloomberg News), a global television network (Bloomberg Television), websites, radio stations (Bloomberg Radio), subscription-only newsletters, and two magazines: Bloomberg Businessweek and Bloomberg Markets.[5]
As of 2019, the company has 176 locations and nearly 20,000 employees.[6][7][8]
History
In 1981, Salomon Brothers was acquired, and Michael Bloomberg, a general partner, was given a $10million partnership settlement.[9] Bloomberg, having designed in-house computerized financial systems for Salomon, used his $10million partnership buyout to start Innovative Market Systems (IMS).[10] Bloomberg developed and built his own computerized system to provide real-time market data, financial calculations and other financial analytics to Wall Street firms. The Market Master terminal, later called the Bloomberg Terminal, was released to market in December 1982.[11] Merrill Lynch became the first customer, purchasing 20 terminals and a 30% equity stake in the company for $30million in exchange for a five-year restriction on marketing the terminal to Merrill Lynch's competitors. Merrill Lynch released IMS from this restriction in 1984.[12]
In 1986, the company renamed itself Bloomberg L.P. (limited partnership).[13] Bloomberg launched Bloomberg Business News, later Bloomberg News, in 1990, with Matthew Winkler as editor-in-chief.[14] Bloomberg.com was first established on September 29, 1993, as a financial portal with information on markets, currency conversion, news and events, and Bloomberg Terminal subscriptions.[15]
In late 1996, Bloomberg bought back one-third of Merrill Lynch's 30 percent stake in the company for $200million, valuing the company at $2billion.[16] In 2008, facing losses during the financial crisis, Merrill Lynch agreed to sell its remaining 20 percent stake in the company back to Bloomberg Inc.,[17] majority-owned by Michael Bloomberg,[18] for a reported $4.43billion, valuing Bloomberg L.P. at approximately $22.5billion.[19][20]
Bloomberg L.P. has remained a private company since its founding, the majority of which is owned by billionaire Michael Bloomberg.[19] To run for the position of Mayor of New York against Democrat Mark Green in 2001, Bloomberg gave up his position of CEO and appointed Lex Fenwick as CEO in his stead.[21] In 2012, Peter Grauer became the chairman of the company, a role he still holds.[22] In 2008, Fenwick became the CEO of Bloomberg Ventures, a new venture capital division and Daniel Doctoroff, former deputy mayor in the Bloomberg administration, was named president and CEO, serving until September 2014.[23][24] At that point, it was announced that Michael Bloomberg would be taking the reins of his eponymous market data company from Doctoroff, who was chief executive of Bloomberg for the past six years after his term as deputy mayor.[25]
In May 2022, Bloomberg announced it would launch a new venture in the UK, Bloomberg UK, as part of a wider international strategy. Bloomberg UK plans to hire in the region and has launched a standalone website, a weekly video series, a podcast and new event series.[26] In August 2023, Michael Bloomberg announced a series of leadership changes for the company, with Chief Product Officer Vlad Kliatchko assuming the role of CEO and Chief Operating Officer Jean-Paul Zammitt assuming the role of President. He also announced a new board of directors which would be chaired by Mark Carney, taking over from Peter Grauer and that existing board members would move to "Emeritus Status".[27] Mark Carney resigned from his chairmanship shortly before becoming the Prime Minister of Canada.[28]
Senior leadership
List of chairs
- 1) Michael Bloomberg (1981–2001)
- 2) Peter Grauer (2001–2023)
- 3) Mark Carney (2023–2025)
List of chief executives
- 1) Michael Bloomberg (1981–2001)
- 2) Alexius "Lex" Fenwick (2001–2008)
- 3) Daniel Doctoroff (2008–2014)
- 4) Michael Bloomberg (2014–2023)
- 5) Vlad Kliatchko (2023–present)
Acquisitions
Since its founding, Bloomberg L.P. has made several acquisitions including the radio station WNEW, BusinessWeek magazine, research company New Energy Finance, the Bureau of National Affairs and the financial software company Bloomberg PolarLake. On July 9, 2014, Bloomberg L.P. acquired RTS Realtime Systems, a global provider of low-latency connectivity and trading support services.[29] On August 13, 2019, Bloomberg acquired RegTek.Solutions in a move to expand its suite of regulatory reporting and data management services.[30]
On March 13, 2023, Bloomberg entered into agreement to acquire Broadway Technology, a provider of high-performance trading systems and fixed income trading solutions.[31]
Bloomberg Radio (formerly WNEW)
In 1992, Bloomberg L.P. purchased New York Radio station WNEW for $13.5million. The station was converted into an all-news format, known as Bloomberg Radio, and the call letters were changed to WBBR.[32]
Bloomberg Businessweek (formerly BusinessWeek)
Bloomberg L.P. bought a weekly business magazine, BusinessWeek, from McGraw-Hill in 2009. The company acquired the magazine—which was suffering from declining advertising revenue and limited circulation numbers—to attract general business to its media audience composed primarily of terminal subscribers.[33] Following the acquisition, BusinessWeek was renamed Bloomberg Businessweek. In 2018, Joel Weber was named editor of the magazine.[34]
New Energy Finance
In 2009, Bloomberg L.P. purchased New Energy Finance, a data company focused on energy investment and carbon markets research based in the United Kingdom.[35] New Energy Finance was created by Michael Liebreich in 2004, to provide news, data and analysis on carbon and clean energy markets. Bloomberg L.P. acquired the company to become an industry resource for information to support low-carbon energy development. It was renamed Bloomberg New Energy Finance or BNEF for short. Liebreich continued to lead the company, serving as the chief executive officer[36] until 2014, when he stepped down as CEO but remained involved as chairman of the advisory board.[37]
BloombergNEF has expanded its research areas to cover renewable energy, advanced transport, digital industry, innovative materials, sustainability and commodities.[38][39] BNEF provides research, long-term forecasts, analytical tools and global in-depth analysis covering a wide range of energy and related industries. Analysts covering 6 continents publish more than 700 research reports a year.[40][41]
Bureau of National Affairs (BNA)
Bloomberg L.P. purchased Arlington, Virginia-based Bureau of National Affairs in August 2011, for $990million to bolster its existing Bloomberg Government and Bloomberg Law services.[42] BNA publishes specialized online and print news and information for professionals in business and government. The company produces more than 350 news publications in topic areas that include corporate law and business, employee benefits, employment and labor law, environment, health and safety, health care, human resources, intellectual property, litigation, and tax and accounting.[43]
Bloomberg PolarLake
In May 2012, Bloomberg L.P. acquired Dublin-based software provider PolarLake and launched a new enterprise data management service to help companies acquire, manage, and distribute data across its organizations.[44]
Barclays indices business
On December 16, 2015, it was announced that Barclays had agreed to sell its index business, Barclays Risk Analytics and Index Solutions Ltd (BRAIS), to Bloomberg L.P. for £520million, or about $787million.[45] The company will be renamed Bloomberg Index Services Limited.
Bloomberg sports analysis
In September 2014, Bloomberg sold its Bloomberg Sports analysis division to the data analysis firm STATS LLC (now Stats Perform) for a fee rumored to be between $15million and $20million.[46]
CityLab
On December 10, 2019, Bloomberg Media announced that it has reached an agreement to acquire CityLab, The Atlantic's news site covering transportation, environment, equity, life, and design. This was Bloomberg's first acquisition of an editorial property by the news and financial data company in over a decade.[47]
Products and services
Bloomberg Professional Services
In 2011, sales from the Bloomberg Professional Services, also known as the Bloomberg Terminal, accounted for more than 85 percent of Bloomberg L.P.'s annual revenue.[48] The financial data vendor's proprietary computer system, starting at $24,000 per user per year,[49] allows subscribers to access the Bloomberg Professional service to monitor and analyze real-time financial data, search financial news, obtain price quotes and send electronic messages through the Bloomberg Messaging Service. The Terminal covers both public and private markets globally.[50]
Bloomberg News
Bloomberg News was co-founded by Michael Bloomberg and Matthew Winkler in 1990, to deliver financial news reporting to Bloomberg terminal subscribers. In 2000, Bloomberg News included more than 2,300 editors and reporters in 100 countries.[51] Content produced by Bloomberg News is disseminated through the Bloomberg terminal, Bloomberg Television, Bloomberg Radio, Bloomberg Businessweek, Bloomberg Markets and Bloomberg.com. Since 2015, John Micklethwait has served as editor-in-chief.[52]
Bloomberg Radio
Bloomberg Television
Bloomberg Television, a service of Bloomberg News, is a 24-hour financial news television network. It was introduced in 1994, as a subscription service transmitted on satellite television provider DirecTV, 13 hours a day, 7 days a week.[53] The network has taken over the channel space of the defunct Financial News Network and hired most of the former FNN employees. Soon after, the network entered the cable television market and by 2000, Bloomberg's 24-hour news programming was available to 200million households.[54] Justin B. Smith is CEO of Bloomberg Multimedia Group which includes Bloomberg Radio, Bloomberg Television and online components of Bloomberg's multimedia offerings.[55]
Bloomberg Markets
Bloomberg Markets is a monthly magazine launched in 1992, that provides in-depth coverage of global financial markets for finance professionals.[56] In 2010, the magazine was redesigned in an effort to update its readership beyond Bloomberg terminal users.[57] Michael Dukmejian has served as the magazine's publisher since 2009.[58]
Bloomberg Pursuits
Bloomberg Pursuits was a bimonthly luxury magazine distributed to Bloomberg terminal users and to newsstands. It ceased publication in 2016. A digital edition and show on Bloomberg Television continue under the same name.[59]
Bloomberg Entity Exchange
Bloomberg Entity Exchange is a web-based, centralised and secure platform for buy side firms, sell side firms, corporations and insurance firms, banks or brokers to fulfill Know Your Customer (KYC) compliance requirements. It was launched on May 25, 2016.[60][61]
Bloomberg Government
Launched in 2011, Bloomberg Government is an online service that provides news and information about politics, along with legislative and regulatory coverage.[62][63]
Bloomberg Law
In 2009, Bloomberg L.P. introduced Bloomberg Law, a subscription service for real-time legal research.[64] A subscription to the service provides access to law dockets, legal filings, and reports from Bloomberg legal analysts as well as business news and information.[65]
Bloomberg Opinion
Bloomberg Opinion, formerly Bloomberg View, is an editorial division of Bloomberg News which launched in May 2011.[66] The site provides editorial content from columnists, authors and editors about news issues and is available for free on the company's website.[67] David Shipley, former Op-Ed page editor at The New York Times, is Bloomberg Opinion's executive editor.[68]
Bloomberg Tradebook
Bloomberg Tradebook is an electronic agency brokerage for equity, futures, options and foreign exchange trades.[69] Its "buyside" services include access to trading algorithms, analytics and marketing insights, while its "sellside" services include connection to electronic trading networks and global trading capabilities.[70] Bloomberg Tradebook was founded in 1996, as an affiliate of Bloomberg L.P.[69]
Bloomberg Beta
Bloomberg Beta is a venture capital firm capitalized by Bloomberg L.P.[71] Founded in 2013, the $75million fund is focused on investments in areas broadly of interest to Bloomberg L.P., and invests purely for financial return. It is headquartered in San Francisco.[72]
Bloomberg Innovation Index
The Bloomberg Innovation Index is an annual ranking of how innovative countries are. It is based on six criteria: research and development, manufacturing, high-tech companies, post-secondary education, research personnel, and patents.[73][74] Bloomberg uses data from the World Bank, the International Monetary Fund, the World Intellectual Property Organization, the United States Patent and Trademark Office, the OECD and UNESCO to compile the ranking.[75]
Open Bloomberg
Bloomberg has openly licensed its symbology system (Bloomberg Open Symbology, BSYM), and financial data API (Bloomberg Programming API, BLPAPI).[76]
Bloomberg Live
Bloomberg Live is a series of conferences targeted towards business people.[77]
Bloomberg Quicktake
Quicktake (formerly TicToc) is Bloomberg's social media brand. Originally launched on Twitter, it was expanded to other platforms including Facebook, Instagram, YouTube and is also available on Amazon's Alexa. It will also play at several screens across multiple airports in the United States and Canada. The platform is managed by a team of 70 people, consisting of editors, producers and social media specialists located across three bureaus in New York, London and Hong Kong.[78] In December 2019, TicToc was renamed "QuickTake by Bloomberg" in order to avoid confusion with the social media platform TikTok.[79] The camel case and the word "by" were later eliminated, and "Bloomberg" was moved in front of "Quicktake", although the two words do not always appear together.[80]
Bloomberg New Economy Forum
Bloomberg New Economy Forum is an invitation-only event for business executives, government officials, and academics.[81] The inaugural event was held in 2018 in Singapore. In 2019, the forum took place in Beijing, China.[82] In 2020 the event was held virtually. Both the 2021 and 2022 events were held in Singapore.[83]
The Bloomberg New Economy Forum Community includes leaders from the public and private sectors from around the world. Founding partners of the forum included 3M, ADNOC, Dangote, ExxonMobil, FedEx, HSBC, Hyundai, Mastercard, Microsoft, and Softbank.[84]
In 2021, the company initiated the Bloomberg New Economy Catalysts program[85] to spotlight the work of changemakers and its impact on the world.[86]
Bloomberg Línea
Bloomberg Línea is a partnership launched in 2021 to serve Spanish, Portuguese and English speaking Latino audiences.[87]
Bloomberg Intelligence
Bloomberg Intelligence (BI) is Bloomberg's research division. It provides data and analytics on global markets. It is available exclusively on the Bloomberg Terminal and the Bloomberg Professional App.[88][89]
Offices
Locations
Bloomberg L.P.'s headquarters is located in 731 Lexington Avenue (informally known as Bloomberg Tower) in Midtown Manhattan, New York City.[90] As of 2011, Bloomberg L.P. occupied 900000 sqft of office space at the base of the tower. The company's New York offices also include 400000 sqft located at 120 Park Avenue[91] and 924,876 square feet (85,924 m2) located at 919 Third Avenue.[92][93] It maintains offices in 167 locations around the world,[94] including Bloomberg London, its European headquarters.[95]
Corporate culture
The Bloomberg L.P. offices are non-hierarchical – even executives do not have private offices.[43] All employees sit at identical white desks each topped with a custom-built Bloomberg computer terminal. The office space also includes rows of flat-panel monitors overhead that display news, market data, the weather and Bloomberg customer service statistics.[96]
Leadership
Bloomberg L.P.'s Management Committee includes Michael Bloomberg, Peter Grauer, and Thomas Secunda.[97]
Controversies
Turner Construction and Bloomberg LP construction scandal
Between 2010 and 2017, a "pay-to-play" scheme went along between two Turner Construction executives, two Bloomberg executives; and vendors and subcontractors involving interior construction at the Bloomberg offices including its headquarters at 731 Lexington Ave.[98] In July 2020, Bloomberg's construction manager Michael Campana was sentenced to two years in prison for tax evasion on $420,000 in connection with accepting bribery.[99][100][101] The bribery was in the form of cash, work on personal property, Super Bowl tickets and payment for Campana's wedding.[102]
On September 29, 2020, Anthony Guzzone, the Director of Global Construction at Bloomberg from 2010 and 2017, pleaded guilty to evading taxes on over $1.45 million he received in bribes from construction subcontractors in exchange for being awarded work performed for Bloomberg. Guzzone accepted more than $5.1 million in bribes. He was sentenced to prison for three years and two months in January 2021[103][104][105][106]
Lawsuits
Olszewski v. Bloomberg L.P.
In 1996, former Bloomberg L.P. sales representative Mary Ann Olszewski sued the company, alleging that she was drugged and raped by her supervisor, Bryan Lewis, and claimed she was terminated shortly after reporting the incident in a May 25, 1995, meeting.[107][108] The lawsuit also alleged the company internally investigated Olszewski, attempting to get coworkers to portray her as "flirtatious" or a "sex hound."[108] Olszewski also claimed that male employees at the company engaged in the "sexual degradation of women" and that the company "took no steps to prevent or curtail the ongoing sexual harassment of female employees by Michael Bloomberg."[107] Bloomberg, on behalf of Bloomberg L.P., testified that he was made aware of the rape allegation and offered to move Olszewski into another sales unit.[108] Bloomberg also testified that he did not find Olszewski's allegation genuine because there was not "an unimpeachable third-party witness" present during the alleged event, elaborating that "there are times when three people are together."[109]
The case was dismissed by a federal judge in 1999 after Olszewski's lawyer had ignored repeated deadlines to submit a response to a motion to end the case. The case was re-opened by another lawyer in 2000, but disappeared from the court docket in 2001.[108]
Sekiko Sakai Garrison v. Michael Bloomberg and Bloomberg L.P.
In 1997, former Bloomberg L.P. sales executive Sekiko Sakai Garrison filed a lawsuit against the company and Michael Bloomberg, alleging sexual harassment and wrongful termination.[110][111] Garrison alleged that when she told Bloomberg that she was pregnant, he told her to "Kill it!" and said "Great! Number 16," referring to the number of women in the company who were pregnant or on maternity leave at the time.[109] According to the lawsuit, Garrison told a manager about the incident but was told to "forget it ever happened" before being fired.[107]
Garrison also claimed that Bloomberg told female salespeople to "line up to give him [oral sex] as a wedding present," referring to a male employee who was getting married.[107] The lawsuit also alleged that Bloomberg berated a female employee who had trouble finding a nanny, saying, "It's a f-- baby! All it does is eat and s---! It doesn't know the difference between you and anyone else! All you need is some black who doesn't even have to speak English to rescue it from a burning building!"[107][110]
The company did not admit any wrongdoing, but settled the lawsuit out of court in 2000.[108]
EEOC v. Bloomberg L.P.
In September 2007, the Equal Employment Opportunity Commission (EEOC) filed a class-action lawsuit against Bloomberg L.P. on behalf of more than 80 female employees who argued that Bloomberg L.P. engaged in discrimination against women who took maternity leave.[112] In August 2011, Judge Loretta A. Preska of the federal United States District Court for the Southern District of New York in Manhattan dismissed the charges, writing that the Equal Employment Opportunity Commission did not present sufficient evidence to support its claim.[113]
In September 2013, Preska dismissed an EEOC lawsuit on behalf of 29 pregnant employees of Bloomberg L.P.[114] In addition, she dismissed pregnancy bias claims from five individual plaintiffs, and allowed part of the case from a sixth plaintiff to proceed.[115]
Bloomberg L.P. v. Board of Governors of the Federal Reserve
Bloomberg L.P. brought a lawsuit against the Board of Governors of the Federal Reserve System (Bloomberg L.P. v. Board of Governors of the Federal Reserve System) to force the Fed to share details about its lending programs during the U.S. Government bailout in 2008.[116] The records documented Federal Reserve loans issued to financial firms and revealed the identities of the firms, the amounts borrowed and the collateral posted in return.[117] Bloomberg L.P. won at the trial court level.[118] The Second Circuit Court ruled in favor of Bloomberg L.P. in March 2010, but the case was appealed to the Supreme Court by a group of large U.S. commercial banks in October. In March 2011, the Supreme Court let stand the Second Circuit Court ruling mandating the release of Fed bailout details.[119]
Bloomberg L.P. v. Bloomberg Ltd
On October 22, 2008, Bloomberg L.P. applied for a change of name of Bloomberg Ltd, under s. 69(1)(b) of the Companies Act 2006. Bloomberg L.P. then amended its name to Bloomberg Finance Three L.P. Bloomberg Ltd was ordered at the Company Names Tribunal on May 11, 2009, to change its name so as to not have a name that would likely interfere, by similarity, with the goodwill of Bloomberg Finance Three L.P. as well as to pay costs.[120]
Nafeesa Syeed v. Bloomberg L.P.
According to a recent case in August 2020, Bloomberg L.P. is again being charged with discrimination against black and non-white workers. Nafeesa Syeed, who served at Bloomberg for around four years as a national security reporter and Middle East reporter, sued the corporation in New York city court for sexism based on her gender and her ethnicity as a South Asian-American. Bloomberg faces a related complaint by a former saleswoman, who filed under a pseudonym in June and the corporation is now seeking to compel a public release of her name. Throughout both cases the same law firm represented the plaintiffs.[121]
Olszewski v. Bloomberg L.P.
In 1996, former Bloomberg L.P. sales representative Mary Ann Olszewski sued the company, alleging that she was drugged and raped by her supervisor, Bryan Lewis, and claimed she was terminated shortly after reporting the incident in a May 25, 1995, meeting.[107][108] The lawsuit also alleged the company internally investigated Olszewski, attempting to get coworkers to portray her as "flirtatious" or a "sex hound."[108] Olszewski also claimed that male employees at the company engaged in the "sexual degradation of women" and that the company "took no steps to prevent or curtail the ongoing sexual harassment of female employees by Michael Bloomberg."[107] Bloomberg, on behalf of Bloomberg L.P., testified that he was made aware of the rape allegation and offered to move Olszewski into another sales unit.[108] Bloomberg also testified that he did not find Olszewski's allegation genuine because there was not "an unimpeachable third-party witness" present during the alleged event, elaborating that "there are times when three people are together."[109]
The case was dismissed by a federal judge in 1999 after Olszewski's lawyer had ignored repeated deadlines to submit a response to a motion to end the case. The case was re-opened by another lawyer in 2000, but disappeared from the court docket in 2001.[108]
Sekiko Sakai Garrison v. Michael Bloomberg and Bloomberg L.P.
In 1997, former Bloomberg L.P. sales executive Sekiko Sakai Garrison filed a lawsuit against the company and Michael Bloomberg, alleging sexual harassment and wrongful termination.[110][111] Garrison alleged that when she told Bloomberg that she was pregnant, he told her to "Kill it!" and said "Great! Number 16," referring to the number of women in the company who were pregnant or on maternity leave at the time.[109] According to the lawsuit, Garrison told a manager about the incident but was told to "forget it ever happened" before being fired.[107]
Garrison also claimed that Bloomberg told female salespeople to "line up to give him [oral sex] as a wedding present," referring to a male employee who was getting married.[107] The lawsuit also alleged that Bloomberg berated a female employee who had trouble finding a nanny, saying, "It's a f-- baby! All it does is eat and s---! It doesn't know the difference between you and anyone else! All you need is some black who doesn't even have to speak English to rescue it from a burning building!"[107][110]
The company did not admit any wrongdoing, but settled the lawsuit out of court in 2000.[108]
EEOC v. Bloomberg L.P.
In September 2007, the Equal Employment Opportunity Commission (EEOC) filed a class-action lawsuit against Bloomberg L.P. on behalf of more than 80 female employees who argued that Bloomberg L.P. engaged in discrimination against women who took maternity leave.[112] In August 2011, Judge Loretta A. Preska of the federal United States District Court for the Southern District of New York in Manhattan dismissed the charges, writing that the Equal Employment Opportunity Commission did not present sufficient evidence to support its claim.[113]
In September 2013, Preska dismissed an EEOC lawsuit on behalf of 29 pregnant employees of Bloomberg L.P.[114] In addition, she dismissed pregnancy bias claims from five individual plaintiffs, and allowed part of the case from a sixth plaintiff to proceed.[115]
Bloomberg L.P. v. Board of Governors of the Federal Reserve
Bloomberg L.P. brought a lawsuit against the Board of Governors of the Federal Reserve System (Bloomberg L.P. v. Board of Governors of the Federal Reserve System) to force the Fed to share details about its lending programs during the U.S. Government bailout in 2008.[116] The records documented Federal Reserve loans issued to financial firms and revealed the identities of the firms, the amounts borrowed and the collateral posted in return.[117] Bloomberg L.P. won at the trial court level.[118] The Second Circuit Court ruled in favor of Bloomberg L.P. in March 2010, but the case was appealed to the Supreme Court by a group of large U.S. commercial banks in October. In March 2011, the Supreme Court let stand the Second Circuit Court ruling mandating the release of Fed bailout details.[119]
Bloomberg L.P. v. Bloomberg Ltd
On October 22, 2008, Bloomberg L.P. applied for a change of name of Bloomberg Ltd, under s. 69(1)(b) of the Companies Act 2006. Bloomberg L.P. then amended its name to Bloomberg Finance Three L.P. Bloomberg Ltd was ordered at the Company Names Tribunal on May 11, 2009, to change its name so as to not have a name that would likely interfere, by similarity, with the goodwill of Bloomberg Finance Three L.P. as well as to pay costs.[120]
Nafeesa Syeed v. Bloomberg L.P.
According to a recent case in August 2020, Bloomberg L.P. is again being charged with discrimination against black and non-white workers. Nafeesa Syeed, who served at Bloomberg for around four years as a national security reporter and Middle East reporter, sued the corporation in New York city court for sexism based on her gender and her ethnicity as a South Asian-American. Bloomberg faces a related complaint by a former saleswoman, who filed under a pseudonym in June and the corporation is now seeking to compel a public release of her name. Throughout both cases the same law firm represented the plaintiffs.[121]
Fossil fuel advertising
An investigation by the Intercept, the Nation, and DeSmog found that Bloomberg L.P. is one of the leading media outlets that publishes advertising for the fossil fuel industry.[122] Journalists who cover climate change for Bloomberg News are concerned that conflicts of interest with the companies and industries that caused climate change and obstructed action will reduce the credibility of their reporting on climate change and cause readers to downplay the climate crisis.[122]
2024 Russian prisoner exchange
While the 2024 Russian prisoner exchange was still in progress, Bloomberg News broke a news embargo by reporting information provided by the White House. Other publications, including the Wall Street Journal, criticized Bloomberg for breaking the embargo, potentially jeopardizing the exchange, and for a Bloomberg editor's apparent boasting for being the one to first publish a breaking news story.[123]
See also
- Bloomberg Markets
- Bloomberg Terminal
- Financial data vendor
External links
References
- Michael Bloomberg Forbes, retrieved 2025-06-14^
- Facebook's Zuckerberg Joins Gates, Buffett in Pledge Bloomberg, December 9, 2010, retrieved January 3, 2012^
- Bloomberg LP History FundingUniverse, retrieved July 17, 2010^
- What is a Bloomberg Terminal or Bloomberg Machine? About.com, retrieved July 17, 2010^
- The Bloomberg Juggernaut American Journalism Review, 1 March 2011, retrieved October 26, 2011^
- Michael Bloomberg to be Harvard Business School's Class Day Speaker Harvard Business School, 2019-03-29, retrieved 2024-12-23^
- Dakin Campbell, Trista Kelley. A leaked memo shows Bloomberg reached $10 billion in annual revenue last year, and some insiders will receive a special bonus Business Insider, retrieved 2019-05-29^
- Global Roles Bloomberg L.P., 2021-01-27, retrieved 2021-12-22^
- David Whitford. Fire in His Belly, Ambition in His Eyes, Michael Bloomberg Could Have Sat on the Millions He Made at Salomon. Instead He Built a Media Empire That Gives Wall Streeters Crucial Information in a Flash CNN Money, May 12, 1997, retrieved April 11, 2013^
- Michael Bloomberg Encyclopaedia Britannica, February 10, 2020, retrieved February 27, 2020^
- Harry McCracken. How the Bloomberg Terminal Made History—And Stays Ever Relevant Fast Company, October 6, 2015, retrieved February 27, 2020^
- Paul Bodine. Make It New: Essays in the History of American Business iUniverse, 2004, retrieved February 27, 2020^
- Mara Lesemann. Here's Why Bloomberg Stock Doesn't Exist Investopedia, October 24, 2019, retrieved February 27, 2020^
- Chris Roush. Bloomberg News Encyclopaedia Britannica, retrieved February 27, 2020^
- Decision: Bloomberg L.P. v. David Cohen National Arbitration Forum, retrieved April 11, 2013^
- Bloomberg Buys Back Stake From Merrill for $200 Million Wall Street Journal, December 17, 1996^
- Quarterly Reports on Form 10-Q Securities and Exchange Commission, August 5, 2008^
- Edmund Lee. Mike Bloomberg Is Worth $49 Billion, Much More Than Most People Thought recode.net, January 26, 2016^
- Michael J. de la Merced, Louise Story. Bloomberg Expected to Buy Merrill's Stake in His Firm The New York Times, July 17, 2008, retrieved October 26, 2011^
- Merrill posts $4.9 billion loss, sells Bloomberg stake Reuters, July 18, 2008, retrieved October 26, 2011^
- Leadership – Lex Fenwick Dow Jones, retrieved April 11, 2013^
- Chairman – Chairman of Bloomberg L.P. Bloomberg L.P., retrieved April 11, 2013^
- Brian Stelter. Doctoroff Named Chief Executive of Bloomberg L.P. The New York Times, July 12, 2011, retrieved December 20, 2011^
- Andrew Ross Sorkin. Michael Bloomberg to Return to Lead Bloomberg L.P. The New York Times, 2014-09-03, retrieved 2019-11-07^
- Bloomberg to take helm at data group Financial Times, September 4, 2014, retrieved September 4, 2014^
- Ian Silvera. Why people really pay for news www.news-future.com, retrieved 2022-05-13^
- Daniel Thomas, Anna Nicolaou. Bloomberg overhauls management team with Mark Carney to lead new board Financial Times, 2023-08-21, retrieved 2023-08-22^
- Layan Odeh. Carney Leaves Brookfield for Political Run, Flatt Named Chairman Bloomberg News, 2025-01-16, retrieved 2025-10-19^
- Bloomberg Acquires RTS Realtime Systems Bloomberg Now, retrieved July 9, 2014^
- Bloomberg acquires RegTek.Solutions to expand reporting hub - The TRADE thetradeиышnews.com, August 14, 2019, retrieved 2019-11-07^
- Bloomberg Enters Agreement to Acquire Broadway Bloomberg L.p.^
- Geraldine Fabrikant. Bloomberg to Pay $13 Million for WNEW-AM The New York Times, August 15, 1992, retrieved October 27, 2011^
- Bloomberg to take over BusinessWeek NBC News, October 14, 2009, retrieved July 22, 2011^
- Exclusive: Joel Weber named editor of Bloomberg Businessweek Axios, January 4, 2018, retrieved 2019-11-07^
- Bloomberg Acquires New Energy Finance Sustainable Business, retrieved July 26, 2011^
- Bloomberg Bets on Carbon Markets The Green Economy, retrieved July 26, 2011^
- Bloomberg New Energy Finance founder to chair advisory board, joined by Tanaka, Rogers Bloomberg New Energy Finance^
- Latest BNEF Report Finds Levelized Cost Of Renewables Continues To Fall CleanTechnica, 2019-10-31, retrieved 2019-11-07^
- GIG, BNEF Launch Tool to Assess Climate Benefits of Wind and Solar Assets IISD's SDG Knowledge Hub, retrieved 2019-11-07^
- BloombergNEF BloombergNEF, retrieved 2019-11-07^
- Jillian Ambrose. Rise of renewables may see off oil firms decades earlier than they think The Guardian, 2019-10-14, retrieved 2019-11-07^
- Kevin Roose. Bloomberg L.P. To Buy BNA for $990 Million The New York Times, August 25, 2011, retrieved December 12, 2011^
- Nick Summers. Bloomberg's Plan for World Domination Newsweek, November 21, 2011, retrieved July 10, 2017^
- Bloomberg Acquires PolarLake and Launches EDM Services Bloomberg Professional Services, Bloomberg PolarLake, May 22, 2012, retrieved January 7, 2018^
- Bloomberg to Acquire Barclays Risk Analytics and Index Solutions Business Bloomberg L.P., December 16, 2015^
- Bloomberg sells sports analysis division to STATS Reuters, September 4, 2014, retrieved June 30, 2017^
- Bloomberg Media to Acquire CityLab From The Atlantic The Atlantic, December 10, 2019^
- Inside the Bloomberg Machine Wall Street and Technology, March 22, 2011, retrieved October 21, 2018^
- This is how much a Bloomberg terminal costs Quartz, May 15, 2013, retrieved December 10, 2015^
- How Bloomberg Will Fare in the Financial Crisis BusinessWeek, retrieved October 28, 2011^
- Bloomberg Editor Casts a Wider Net Financial Times, retrieved October 27, 2011^
- Julia Greenberg. Bloomberg's Future is the Future of News For Everyone Wired, 2 September 2015, retrieved 2015-09-03^
- Stephanie Clifford, Julie Creswell. At Bloomberg, Modest Strategy to Rule the World The New York Times, November 14, 2009, retrieved October 27, 2011^
- Danny Hakim. Bloomberg Unit To Announce A Cable Deal The New York Times, September 18, 2000, retrieved October 28, 2011^
- BLOOMBERG LP NAMES JUSTIN B. SMITH CEO OF BLOOMBERG MEDIA GROUP Bloomberg LP, retrieved November 20, 2013^
- Bloomberg Markets Business & Finance Magazines, retrieved April 17, 2013^
- Lucia Moses. Bloomberg Strikes Again AdWeek, June 13, 2011, retrieved September 15, 2011^
- Michael Dukmejian Joins BLOOMBERG MARKETS Magazine As Publisher Reuters, retrieved December 20, 2011^
- Bloomberg Pursuits Ends Print Magazine - Folio Folio, 2016-12-05, retrieved 2018-05-09^
- Rosemary Barnes. Bloomberg Unveils Entity Exchange to Ease Counterparty Onboarding Process Finance Magnates, 2016-05-25, retrieved 2017-04-06^
- Beyond KYC Bloomberg Professional Services, Bloomberg L.P., retrieved 2017-04-06^
- Jeremy W. Peters. Bloomberg Plans a Data Service on the Business of Government The New York Times, October 10, 2010, retrieved July 26, 2011^
- James Rainey. Bloomberg's news venture is good news for those willing to pay Los Angeles Times, May 28, 2011, retrieved December 20, 2011^
- Russell Adams. Bloomberg Hangs New Shingle Wall Street Journal, MarketWatch, July 8, 2010, retrieved October 28, 2011^
- About Bloomberg Law Bloomberg L.P., retrieved October 28, 2011^
- Bloomberg View reveals columnists, editorial board Politico, retrieved October 28, 2011^
- Bloomberg View Launches New opinion site is part of Bloomberg.com redesign AdWeek, May 24, 2011, retrieved October 28, 2011^
- Jeff Bercovici. Bloomberg View: Opinions, Yes, But Only Factual Ones Forbes, retrieved October 28, 2011^
- Bloomberg Tradebook Overview Bloomberg Tradebook, retrieved August 23, 2011^
- Bloomberg Expands Tradebook Offering to Brokers Traders Magazine Online, retrieved August 23, 2011^
- Bloomberg Beta Launches With $75 Million Technology Venture Fund Bloomberg NOW (press release), retrieved June 2, 2014^
- Nicole Perloth. Bloomberg Begins Fund to Invest in Start-Ups The New York Times, June 5, 2013, retrieved September 25, 2015^
- The Bloomberg Innovation Index Bloomberg^
- Bloomberg's Global Innovation Index ranks S. Korea 1st, snubs U.S. at 6th place Geektime, retrieved August 23, 2015^
- 30 Most Innovative Countries: Who Took Home the Gold? Bloomberg^
- Open Market Data Initiative Bloomberg, February 1, 2002, retrieved January 12, 2014^
- Bloomberg Live Bloomberg Live, retrieved 2018-05-05^
- Todd Spangler. Bloomberg Is Expanding TicToc Social News Network Beyond Twitter, After Hitting Year-One Goals Variety, 19 December 2018, retrieved 1 June 2019^
- Todd Spangler. Bloomberg Renames TicToc News Service QuickTake, Partly to Avoid Confusion With Chinese TikTok App (EXCLUSIVE) Variety, 2019-12-03, retrieved 2019-12-04^
- A look at the Bloomberg Quicktake logo design November 8, 2020^
- Michael Bloomberg to host high-profile business forum in Beijing South China Morning Post, 2019-05-21, retrieved 2026-01-28^
- Michael Bloomberg to host high-profile business forum in Beijing South China Morning Post, 2019-05-21, retrieved 2019-06-18^
- Bloomberg Forum attendees' special COVID treatment sparks Singapore debate Fortune, retrieved 2023-07-19^
- Hank Paulson, Zeng Peiyan. 400 of the World's Most Influential Business and Government Leaders to Attend Bloomberg's First-Ever New Economy Forum in Singapore on November 6-7, 2018 2018-10-03, retrieved 2019-06-18^
- Catalysts Homepage Bloomberg New Economy, retrieved 2023-08-08^
- Aja Whitaker-Moore. Bloomberg's plan to take on Davos and the world's greatest challenges Axios, June 9, 2021^
- Bloomberg Línea. Bloomberg Línea Officially Launches with 9 Websites in Latin America Bloomberg Línea, 2023-01-02, retrieved 2023-04-12^
- Bloomberg Intelligence Introduces Market Structure Research Practice InPublishing, 2020-08-26, retrieved 2024-03-21^
- Bloomberg Media revamps content studio Kinection building in data to offer upgraded ad solutions The Drum, retrieved 2024-03-21^
- Alison Gregor. SQUARE FEET: INTERVIEW -- WITH BARRY M. GOSIN; Trained in Manhattan, Graduating to the World The New York Times, April 23, 2006, retrieved July 28, 2011^
- Charles V. Bagli. Growing Bloomberg L.P. To Rent Half of a Tower The New York Times, February 9, 2011, retrieved August 3, 2011^
- SL Green Signs 925,000 Square Foot Renewal and Expansion Lease With Bloomberg, L.P. at 919 Third Avenue SL Green, 2024-10-16, retrieved 2025-06-19^
- Taylor Williams. Bloomberg Signs 924,876 SF Office Lease Extension, Expansion at 919 Third Avenue in Manhattan REBusinessOnline, 2024-10-18, retrieved 2025-06-19^
- About Bloomberg Bloomberg, retrieved 2019-05-29^
- Bloomberg London Building Bloomberg L.P., retrieved 2018-05-09^
- Towers of Babble The New Yorker, July 29, 2007, retrieved October 28, 2011^
- Company Overview of Bloomberg L.P. Businessweek, retrieved April 18, 2013^
- Charles V. Bagli. Former Bloomberg Executives to Be Charged in Construction Fraud Scheme The New York Times, 2018-12-10, retrieved 2020-09-16^
- Former construction executive pleads guilty to tax evasion in connection with bribery scheme www.irs.gov, retrieved 2020-09-24^
- Westchester Man Among Former Executives To Admit To Multi-Million Dollar Kickback Scheme Mount Pleasant Daily Voice, 2020-08-02, retrieved 2020-09-24^
- David Propper. Ex-Bloomberg construction manager from Tuckahoe gets prison for role in bribery scheme The Journal News, retrieved 2020-09-24^
- Kevin Rebong. Ex-Turner Construction Exec Pleads Guilty in Bribery Scheme The Real Deal New York, 2020-07-30, retrieved 2020-09-24^
- Kevin Rebong. Ex-Bloomberg Construction Director Pleads Guilty to Tax Fraud The Real Deal New York, 2020-09-30, retrieved 2020-10-01^
- Chris Sheldon NJ.com. Ex-Bloomberg exec sentenced after authorities say he led massive kickback scheme nj, 2021-01-20, retrieved 2021-02-04^
- Ex-Bloomberg construction exec pleads guilty to tax evasion charges on bribes Crain's New York Business, 2020-09-29, retrieved 2020-09-30^
- Former Construction Executive Pleads Guilty To Tax Evasion In Connection With Bribery Scheme www.justice.gov, 2020-09-29, retrieved 2020-09-30^
- Kranish, Michael. Mike Bloomberg for years has battled women's allegations of profane, sexist comments The Washington Post, February 15, 2020, retrieved February 18, 2020^
- Barrett, Wayne. Bloomberg's Sexual Blind Spot The Village Voice, October 30, 2001, retrieved February 18, 2020^
- Garber, Megan. 'I'd Do Her': Mike Bloomberg and the Underbelly of #MeToo The Atlantic, September 19, 2018, retrieved February 18, 2020^
- United States District Court Southern District of New York. Sekiko Sakai Garrison v. Michael Bloomberg and Bloomberg, L.P. The Washington Post, February 24, 1998, retrieved February 17, 2020^
- Bloomberg sued for pregnancy discrimination NBC, September 27, 2007, retrieved February 17, 2020^
- David W. Chen. Bloomberg Is Deposed in Bias Suit Against Firm The New York Times, May 15, 2009, retrieved October 28, 2011^
- David W. Chen. Discrimination Suit Against Bloomberg L.P. Is Rejected The New York Times, August 17, 2011, retrieved December 13, 2011^
- Jonathan Stempel. U.S. judge tosses pregnancy bias lawsuit against Bloomberg LP Reuters, September 9, 2013, retrieved September 11, 2013^
- Daniel Beekman. Judge tosses most plaintiffs in discrimination suit against Bloomberg L.P. New York Daily News, September 9, 2013, retrieved September 11, 2013^
- The Fed's Secret Liquidity Lifelines Bloomberg, retrieved March 17, 2012^
- Bloomberg Wins Its Lawsuit Against the Federal Reserve Columbia Journalism Review, retrieved August 25, 2009^
- Docket entry 31, Bloomberg, L.P. v. Board of Governors of the Federal Reserve System, case no. 1:08-cv-09595-LAP, U.S. District Court for the District of New York.^
- Fed's Court-Ordered Disclosure Shows Americans' 'Right to Know' Bloomberg Businessweek, March 22, 2011, retrieved October 28, 2011^
- Bloomberg LP v Bloomberg Ltd Retrieved September 18, 2014^
- Bloomberg LP Hit With More Discrimination Claims by Former Reporter WWD, 11 August 2020, retrieved 13 August 2020^
- Amy Westervelt & Matthew Green. Leading News Outlets Are Doing the Fossil Fuel Industry's Greenwashing The Intercept, December 5, 2023, retrieved September 1, 2024^
- Charlotte Klein. Everybody Is Mad at Bloomberg for Its Embargo-Breaking Gershkovich Scoop Intelligencer, 2024-08-02, retrieved 2024-08-02^