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The Thomson Reuters logo is pictured on a building in the Manhattan borough of New York City, New York, U.S. November 16, 2021. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Nov 1 (Reuters) - Thomson Reuters Corp (TRI.TO) on Wednesday reported higher-than-expected third-quarter profit as its biggest divisions serving legal, tax and accounting professionals performed well amid economic uncertainty. Organic revenues in the Legal Professionals segment increased 6%, while total revenue fell 2%, reflecting sales of some divisions. Thomson Reuters has earmarked $10 billion for acquisitions and about $100 million per year in investments in AI capabilities. In August, the company closed its $650 million cash acquisition of Casetext, a California-based AI company that helps legal professionals conduct research, analysis and prepare documents using generative AI.

Persons: Carlo Allegri, Thomson, Steve Hasker, ” Hasker, Hasker, Helen Coster, Nick Zieminski Organizations: Thomson Reuters, REUTERS, Thomson Reuters Corp, ”, Microsoft, Elite, TPG, Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, California

☆ Thomson Reuters' profit beats estimates; outlook steady
▼ + stars: | 2023-08-02 | by ( Helen Coster | ) www.reuters.com time to read: +4 min

The Thomson Reuters logo is pictured on a building in the Manhattan borough of New York City, New York, U.S. November 16, 2021. The news and information company reported adjusted earnings of 84 cents per share, 6 cents ahead of estimates. Total revenue rose 2% in the quarter to $1.65 billion, slightly missing expectations, according to Refinitiv. Thomson Reuters maintained its full-year 2023 outlook for organic revenue, adjusted EBITDA margin and free cash flow. Reporting by Helen Coster Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, divestitures, Steve Hasker, Thomson, –, Michael Eastwood, Hasker, Eastwood, Helen Coster, Nick Zieminski Organizations: Thomson Reuters, REUTERS, Thomson Reuters Corp, Accounting, company’s Elite, TPG, London Stock Exchange, Reuters News, Thomson Locations: Manhattan, New York City , New York, U.S, Britain, California

☆ OPEC withholds media access to Reuters, Bloomberg, WSJ for July event
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +3 min

The three media organizations are among the world's leading suppliers of financial news and information. OPEC declined to comment on why reporters from the three media organizations were not invited to cover the OPEC-hosted July 5-6 seminar in Vienna. "Reuters will continue to cover OPEC in an independent, impartial and reliable way, in keeping with the Thomson Reuters Trust Principles." This would be the second consecutive OPEC+ event in which OPEC has restricted media coverage. OPEC sent an email on Tuesday inviting reporters at other media organizations to attend, the sources said.

Persons: Platts, Simon Webb, Rosalba O'Brien Organizations: OPEC, Reuters, Bloomberg, Wall Street, of, Petroleum, Thomson Reuters Corp, Thomson, Street, Financial Times, P, Commodity, Argus, Financial Locations: OPEC, Saudi Arabia, Russia, Vienna

☆ Thomson Reuters to acquire legal tech provider Casetext for $650 mln
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 26 (Reuters) - Thomson Reuters Corporation (TRI.TO) said on Monday it had agreed to acquire Casetext, a California-based company that provides technology solutions for legal professionals, in a $650 million all-cash deal. Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments, Thomson Reuters said on Monday. The acquisition of Casetext is another step towards bringing generative AI solutions to customers, said Steve Hasker, president and CEO of Thomson Reuters. Casetext was granted early access to OpenAI's GPT-4 large language model, allowing it to develop solutions with the new technology and refine use cases for legal professionals. Reporting by Bharat Govind Gautam in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomson, Michael Eastwood, Casetext, Steve Hasker, Bharat Govind Gautam, Rashmi Organizations: Thomson Reuters Corporation, Thomson Reuters, Thomson Locations: California, Casetext, Bengaluru

☆ OPEC denies media access to Reuters, Bloomberg, WSJ for weekend policy meets
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Leonhard FoegerVIENNA, June 2 (Reuters) - OPEC has denied media access to reporters from Reuters, Bloomberg and the Wall Street Journal to report on oil policy meetings in Vienna this weekend, reporters, Bloomberg and people familiar with the matter said on Friday. OPEC staff declined on Friday to give media accreditation to Reuters journalists to cover the event. The staff handling media accreditation at one of Vienna's luxury hotels said they could not issue accreditation without an invite. A Bloomberg spokesperson confirmed on Friday the company has not been given accreditation to cover the OPEC meeting. Reporters from the three outlets, many of whom have been covering OPEC meetings for years, did not receive invitations from OPEC ahead of the meeting.

Persons: Leonhard Foeger VIENNA, Platts, Alex Lawler, Dmitry Zhdannikov, Ahmad Ghaddar, Julia Payne, Maha El, Simon Webb, Marguerita Choy Organizations: Organization of, Petroleum, REUTERS, OPEC, Reuters, Bloomberg, Wall Street Journal, of, Thomson Reuters Corp, Thomson, Street, Argus Locations: Vienna, Austria, OPEC, Saudi Arabia, Russia

[1/2] The Thomson Reuters logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. Total revenue rose 4% in the quarter to $1.738 billion, beating expectations, according to estimates from Refinitiv. Thomson Reuters plans to spend $100 million on an annual run rate basis to invest in artificial intelligence, Hasker said. AI features will be incorporated in most major business divisions -- legal, tax and accounting, and in the news business. As of April 30, it owned 47.4 million shares of LSEG, worth $5 billion.

[1/2] The Thomson Reuters logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. REUTERS/Andrew Kelly/File PhotoMay 2 (Reuters) - Thomson Reuters Corp (TRI.TO), on Tuesday reported higher sales and operating profit in the first quarter, helped by divestitures and high customer retention rates. As of April 30, Thomson Reuters owned 47.4 million shares of LSEG, worth $5 billion. Thomson Reuters shares are trading at an all-time high. Reporting by Helen Coster and Kenneth Li in New York, Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

April 4 (Reuters) - Private equity firm TPG Inc (TPG.O) said on Tuesday it has agreed to buy a majority stake in Elite, a vendor of business management software for law firms, from information provider Thomson Reuters Corp (TRI.TO) at a valuation of $500 million. Thomson Reuters will keep a minority stake and board representation in Elite and continue to support it with its legal information products, the companies said. Paul Fischer, president of Thomson Reuters' legal professionals division, said that Elite will continue to share many of Thomson Reuters' clients as a standalone company. Elite offers software that helps law firms run their finance and accounting operations, including billing, invoicing and payments. TPG partner Tim Millikin said that the data and automation that Elite offers are in demand among legal professionals.

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Tesla, Macy's, Netflix, Sunnova, Intel & more
▼ + stars: | 2023-04-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley initiates Sunnova as overweight Morgan Stanley said it sees 124% upside for the solar company. " Morgan Stanley downgrades First Solar to underweight from equal weight Morgan Stanley downgraded the stock mainly on valuation. Bank of America adds Lowe's to the US 1 list Bank of America added the home improvement giant to its top ideas list. Bank of America names Netflix a top second-quarter pick Bank of America said it's bullish on the streaming giant as the second quarter begins. Morgan Stanley downgrades Marqeta to equal weight from overweight Morgan Stanley said in its downgrade of the card payment and solutions company that it sees too many negative catalysts. "

☆ TSX slides as investors brace for more Fed rate hikes
▼ + stars: | 2023-03-07 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

"We are seeing a pullback in risk assets as people start to discount the Fed keeping rates higher for longer," said Joseph Abramson, co-chief investment officer at Northland Wealth Management. The TSX has a 30% weighting in commodity-linked shares. The energy sector fell nearly 2% on Tuesday as oil settled 3.6% lower at $77.58 a barrel, while materials, which includes precious and base metals miners and fertilizer companies, was down 2.9%. Thomson Reuters Corp (TRI.TO) shares were a bright spot, rising 1.2%. Reporting by Fergal Smith; Additional reporting by Johann M Cherian in Bengaluru; Editing by Anil D'Silva and Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

☆ Thomson Reuters reports higher fourth-quarter sales, profit
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

The news and information company reported adjusted earnings of 73 cents per share. A strong dollar took 2 percentage points off the sales growth. Divestitures reduced sales growth by another 1 point. It expects first-quarter organic sales growth at the lower end of its full-year target of 5.5-6.0%. During the fourth quarter, Thomson Reuters said it would buy SurePrep LLC, a U.S.-based provider of tax automation software and services, for $500 million in cash.

☆ Thomson Reuters Corp and London Stock Exchange Group expand partnership
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

[1/3] A Thomson Reuters logo is pictured on a building during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. REUTERS/Denis Balibouse/File PhotoJan 17 (Reuters) - The London Stock Exchange Group(LSEG.L) and Thomson Reuters Corp(TRI.TO) will expand a long-term partnership that will include investments in the newsroom and an agreement to launch consumer subscription products, the companies said on Tuesday. The agreement resolves a dispute over plans by Reuters News in 2021 to launch a subscription paywall for the Reuters.com website. The agreement will include an investment in 100 editorial roles in the Reuters newsroom focused on financial and markets coverage. Reporting by Kenneth Li in New York; Editing by Howard GollerOur Standards: The Thomson Reuters Trust Principles.

☆ Dow Jones news to lay off employees today–union
▼ + stars: | 2023-01-11 | by ( Helen Coster | ) www.reuters.com time to read: +1 min

Jan 11 (Reuters) - Dow Jones, a division of News Corp that includes the financial news outlets the Wall Street Journal, Barron's and MarketWatch, plans to lay off a number of employees on Wednesday, according to IAPE, the union representing unionized Dow Jones employees. In a statement to Reuters, a Dow Jones spokesperson said that "several teams have partially reorganized to align with our priorities and position us for further growth" and "certain positions have been eliminated." The news of expected layoffs at Dow Jones comes amid planned cuts at other outlets, including the Washington Post. In December News Corp (NWSA.O) named Sunday Times editor Emma Tucker the new editor of the Wall Street Journal and Dow Jones Newswires. Reuters, part of Thomson Reuters Corp (TRI.TO), competes with Dow Jones.

Dec 2 (Reuters) - More than 1,000 union employees at the New York Times Co (NYT.N) have pledged to walk out if the news publisher does not agree to a "complete and equitable contract" by Dec. 8, according to a tweet by the union on Friday. "We will walk out and stop work for 24 hours, on Thursday, Dec. 8, if we do not have a deal for a complete and equitable contract by then," the letter read. The members of the union are also asking for remote work flexibility, among other demands. Earlier in March, a group of nearly 600 tech employees at the New York Times voted to unionize as the company faced claims it unlawfully interfered with labor organizing. read moreReporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

☆ Thomson Reuters to buy tax software provider SurePrep for $500 mln
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

Nov 11 (Reuters) - Thomson Reuters Corp (TRI.TO) said on Friday it would buy SurePrep LLC, a U.S.-based provider of tax automation software and services, for $500 million in cash. The information company has been partnering since April with 20-year-old SurePrep, whose products and solutions are used by more than 23,000 tax professionals. "This transaction builds on our existing partnership/reseller arrangement to deliver our vision of end-to-end tax automation that solves our customers' biggest pain points," said Dave Wyle, Chief Executive of SurePrep. Thomson Reuters, which is the parent of Reuters News, expects the deal to close in the first quarter of 2023. Reporting by Aditya Soni in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Adjusted earnings per share came in at 57 cents, 7 cents ahead of estimates. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones, and Wolters Kluwer (WLSNc.AS). Thomson Reuters holds a minority stake in the LSE, worth about $6.3 billion as of Friday. Thomson Reuters will be "quite a bit more aggressive in the next few quarters in looking at acquisitions," he said. Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

The Toronto-based company recorded $1.57 billion in sales during the quarter, up 3%, slightly below expectations of $1.59 billion. Adjusted earnings per share came in at 57 cents, 7 cents ahead of analyst estimates. But it noted that 2023 margins were trending towards the lower end of the 39%-40% range amid heightened inflation and investments. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones and Wolters Kluwer (WLSNc.AS). Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

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