FT gears up for launch of Fast FT 'live reporting and comment' service

The Financial Times is to launch its new Fast FT breaking news service tomorrow.

The new section of the website is expected to build on the success of the Alphaville blog (which provides rolling news and comment) and will provide “market-moving news and views 24-hours a day”.

A Fast FT Twitter account was launched on Friday and has been promoting a launch of the site scheduled for 8am tomorrow (Wednesday 29 May) via a countdown timer.

The site promises “live reporting and comment on market-moving news”.

The launch of Fast FT is part of a series of changes which have seen 30 journalists take redundancy as ten new digital jouranlism positions have been created.

Print-focused production journalists have borne the brunt of the cutbacks which are intended to take £1.6m out of the FT’s annual editorial budget.

In a letter to staff in January, FT editor Lionel Barber said of the planned launch of Fast FT:

This will be an opportunity for all of us to think harder about a more dynamic and interactive form of FT journalism beyond the printed word. This is vital to drive deeper engagement with readers and build our subscriptions business.

The FT has around 320,000 digital subscribers worldwide and claims to have more than 3.5m app users.

Last year FT Group, a division of Pearson, reported revenue up 4 per cent year on year to £443m and operating profit up 7 per cent to £499m

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