Reuters Cites Weak FX Market, Y2K Bug For Q3 Earnings Slide
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LONDON--Earnings at Reuters, the UK news and information giant, have been stung by a downturn in orders resulting from the Y2K bug and a contraction in the FX market this year, according to results issued last month.
The group has cited a number of reasons for sharply reduced third quarter earnings, including a slowdown in orders from its Reuters Trading Systems (RTS) division, which includes Dealing 2000 and 3000 FX products.
RTS took the brunt of the millennium bug, because many banks have
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