INQUIRER.net: Thomson Reuters swings to loss on restructuring

INQUIRER.net Philippine News for Filipinos

Thomson Reuters swings to loss on restructuring Apr 30th 2013, 22:24 NEW YORK—Media and financial information group Thomson Reuters swung to a loss in the first quarter, hit by costs linked to a major restructuring and one-time tax charges.   In results released Tuesday the company, which operates the Reuters news agency as well as financial and legal information services, said the quarterly loss was $31 million, compared with a profit of $294 million a year earlier.   The main factor in the loss was a $235 million tax charge that stems from Thomson Reuters' action that "simplifies and consolidates technology and content assets in order to achieve greater efficiencies."   Thomson Reuters said in February it was slashing ... Keep on reading: Thomson Reuters swings to loss on restructuring Media files: thomson-reuters.jpg (image/jpeg)

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