Reuters opens office in India

Reuters, the financial news service, will today officially open an office in India that will see 20 journalists cover 2,000 small to medium-sized American companies listed on the New York Stock Exchange.

The operation based in Bangalore, has been running for six months with a six-strong editorial team reporting on companies’ earnings, press releases and filings with the US Securities and Exchange Commission as well as analysts’ stock alerts.

The company’s data unit, which archives material for 30,000 global firms, already employs 300 people and will grow by another 300 next year. In outsourcing journalism and data processing, Reuters has become the first large media company to base US corporate reporting functions offshore.