Tom Glocer, CEO stated that the company expected US$ 1bn in annualized cost savings from the Thomson Reuters merger.  Thompson Reuters was well positioned against its rival Bloomberg because the latter was more exposed to harder hit financial services markets.   Thomson Reuters reported a five percent rise in pro forma revenues for the fourth quarter (before currency effect).   Profit margins rose by 6% in Q4 and 23% for the full year.  Thomson Reuters professional services: Tax, legal and accounting, scientific and healthcare produced stronger tip-line growth and some steep margin improvements.   Tom Glocer dismissed speculation that the corporation may be tempted to gobble up a distressed media company stating that he had little appetite for consumer media.   The focus appears to be firmly on digital value added business information services.  Source: Thomson Reuters

BIIA Newsletter March 2009 Issue