Bloomberg is a company that publishes financial news and sells terminals used by banks around the world. The terminals provide most of the company’s $8.5 billion annual revenue.
In 2012 Bloomberg’s news division published an article on the Communist Party chief in China that the Chinese government did not like, and sales of the terminals declined in that country. Now, according to a report in the business section of the Times on March 21, the news division has been reined in. Profits are more important than objective and investigative journalism. The chairman of Bloomberg, Peter Grauer, said that the size of the Chinese economy means “We have to be there.”
Another profile in cowardice by American corporate leadership.
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