Reuters is setting up a financial news bureau in Bangalore, India, and will recruit six journalists to undertake basic financial reporting on small to medium-sized US companies.
Their main task will be to read and analyse financial reports and company press releases.
Interviews of company executives and coverage of breaking news will continue to be done by more experienced journalists.
According to Reuters’ global managing editor, David Schlesinger, India was chosen because “it’s a place where you can recruit people who understand English, understand financial statements and who are educated to a very high standard and eager to do this kind of work”.
He added in an interview in The New York Times, “They are also relatively inexpensive.”
Schlesinger said the system might be expanded if it was successful.
By Jeffrey Blyth in New York