Thomson Reuters Stock Up As Bloomberg Hit By Scandal

Thomson Reuters Corporation (NYSE:TRI) (TSE:TRI) stock may have a significant upside in the coming months as the company’s chief competitor, Bloomberg, is under fire from major banks. A Financial Times report on the case says that major US banks are uncomfortable with the way Bloomberg journalists had used the firm’s data to report on the London Whale case.

JPMorgan Chase & Co. (NYSE:JPM) and Goldman Sachs Group Inc. (NYSE:GS) expressed concern about the use of private details about how bankers use Bloomberg terminals in order to steer their reporting on the London Whale case. According to the FT report, JPMorgan has raised informal concerns with the news agency...