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What happens next? A platform for the future

Annual Review

Our 2013 Annual Review brings our company story to life by showcasing how we support today’s decision makers by providing global information platforms that are faster, simpler and more connected. You can access the full-report here or check out the complete series of blog posts.

The world cannot wait. That’s the challenge faced by Thomson Reuters customers on every continent, in every sector and profession. And like our customers, we are aggressively pursuing the opportunities presented by such a complex, demanding and constantly changing world.

In the new global marketplace, mobile communications have erased the traditional boundaries of place and time. The interconnections of big data are expanding the scope of what can be known and acted upon. International commerce has moved beyond well-worn paths, flowing in new directions between regional hubs. Mirroring that evolution, regulatory frameworks have become vastly more complex and demanding, with little coordination among regions. And, in a familiar pattern, the sheer volume of information grows exponentially from year to year. (more…)

Waterside School empowers the leaders of tomorrow

Waterside School

By Kristin Mitchell, Events Manager, Thomson Reuters

Energized is the only way to describe how I felt at the Waterside Graduation Dinner. Thomson Reuters has been supporting the Waterside School for almost two years now, and this was my first experience interacting with the children. This event not only made me want to get more involved, but it also made me regret that I haven’t been more engaged sooner. (more…)

Thomson Reuters Newsmaker with Japan Economics Minister

Japan's Economics Minister Amari

Japan’s Minister of State for Economic and Fiscal Policy Akira Amari spoke openly about cuts in corporate income tax, trade sensitivities, prolonged deflation and bold reforms at a Thomson Reuters Newsmaker event held at our Tokyo office last week.

Amari addressed a full house of Thomson Reuters guests and Japanese and international media before being interviewed by Reuters Japan Bureau Chief Kevin Krolicki, and participating in a Q&A session. He warned that it would be premature for the Bank of Japan to consider an exit strategy from its massive stimulus program, voicing hope instead for further monetary easing if achievement of its inflation goal falls behind schedule. Amari also said that while Japan appears to be emerging from years of persistent price declines, it was too early to formally declare a sustained end to deflation with the economic recovery still vulnerable to external shocks.

“The BOJ has expressed strong determination that it won’t hesitate to take further action if (the timing for meeting the inflation target) is not on schedule. If the BOJ judges that it’s not on schedule, I think the central bank will decide on its own (to act),” he said. (Read the full story here.)

Amari also revealed that corporate income tax rates are likely to be cut by around six percentage points over the next few years (video) and said that ‘Abenomics’ is succeeding where conventional policies failed in pulling Japan from its deflationary slump (video).

Video Highlights: (more…)

A look back at how we covered the 2014 World Cup

World Cup

It’s been an amazing month of football (or soccer!) as the whole world watched the 2014 World Cup in Brazil. Our reporters and photographers did a great job of covering all the nail biting highs and lows that have kept us on the edge of our seats, but there have been many other ways to follow the event through our web sites, social media, tools and technology.

Here’s a look back at how we followed the last month of great sporting moments and creatively gave people a chance to get involved: (more…)

What do KPMG and marine biology have in common?

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The answer to this question might surprise you.  KPMG employs an expert in marine biology and ecosystem services in their sustainability group.  A couple weeks ago, Dr. Stephanie Hime, lead natural capital specialist at KPMG, joined me for an inspiring conversation.  She talked about how in the last 12 months or so, the topic of “natural capital” has become much more mainstream in her professional circles.

Essentially, this means that accountants and compliance folks in the world’s businesses are starting to see a business need for understanding this language.  What is this new language?  For me, it’s about businesses and investors being able to speak consistently and compellingly about how they are managing risk around natural resource depletion.  Nearly every business has a dependency on some form of natural capital (i.e. clean water, air, soil and surrounding environment of living things), but to date, businesses have not be required to report on how they are managing these dependencies critical to operations.

The exciting news is that this is beginning to change.  Investors increasingly see natural capital exposure as material to asset risk.  Businesses are seeing  signs of emerging regulation requiring standardized reporting on how they are managing this risk.  Essentially, the world is no longer a place where gross national product is considered without regard to the commensurate cost in natural capital to produce that growth.  Business is starting to measure its global environmental limits.

Please take a look at the full interview with Dr. Hime on Sustainability.  I hope you have a chance to take a look at her exciting work.

A genius on the shared economy

He is a 33-year-old genius, drives a fast-growing global business worth billions of dollars, I met him in Aspen and I think his ideas are worth sharing. He is Brian Chesky, the founder of Airbnb.

What impressed me the most about Brian is the sheer talent and his vision on the concept of the shared economy. He is leading real change, a change he thinks is as seismic as the first internet revolution in the mid-90s, when it became mainstream.

Today, millions of people have the potential to share things with one another, be it a spare bedroom or – as Brian predicts – the opportunity to cook and serve food to total strangers in their living room. It’s an economic concept based on trust, and a promising one, judging from the rapid success of Airbnb, a company now reportedly valued at around $10 billion.

Think about it: more than 650,000 people travelled to Brazil this summer for the World Cup. Do you know that 5% of them are staying at accommodations rented via Airbnb? Not bad for a guy who launched the company six years ago, after he rented an inflatable bed in his shared flat in San Francisco, where demand for hotel rooms was soaring because of a big event in the city.

As Brian pointed out in Aspen, Airbnb did not invent a new concept: bed & breakfasts have been around for centuries. He just gave it scale, matching demand and offer in an incredibly powerful manner on a big platform.

On a smaller scale, the Foundation’s TrustLaw service, which has successfully amplified the potential of pro bono in the last four years by connecting lawyers offering free legal help with NGOs and social enterprises in deep need of that support, is not far from that model – except that we don’t make any profit from the connections.

Brian Chesky doesn’t want to recognise that his model is a big disruption for the industry: “when is the last time you were happy for being disrupted?” He calls it innovation. (more…)

We don’t let it rain on our parade – #FreedomTo

freedom to

By Tim Smith, Content Manager, Thomson Reuters

What event brings together 30,000 marchers to Europe’s busiest shopping district? What makes over 210 different charities, companies, community groups and political parties gather together? What brings over 300,000 people into Trafalgar Square and goodness knows how many spectators to line Oxford, Regent and Baker Street in London…?

It could only be the 2014 parade for Pride in London, which took place on Saturday, June 28th. It was the biggest yet, so it made sense that Thomson Reuters had its biggest ever contingent – over 50 employees and their friends! (more…)

When Reuters almost got it wrong

Racegoers_Longchamps_smaller copy

Sarajevo – June 28, 1914

100 years have now passed since those two fateful pistol shots rang out in the Bosnian city of Sarajevo. Of the events at Sarajevo that day it could certainly be said that “the rest is history.”

To begin with, the assassination of Archduke Franz Ferdinand, heir to the Austrian throne, and his wife Sophie by “Young Bosnia” activist Gavrilo Princip, age 20, seemed of importance solely to the countries and states directly involved. The objective of Princip and his group was to separate off Austro-Hungary’s southern Slav provinces so that they could be combined into a Greater Serbia or Yugoslavia. But – like a collapsing house of cards –this set off a series of events and alliances which, once begun, was unstoppable. Little more than a month later, Europe was embroiled in the Great War. (more…)

Heard around Aspen – July 2

We’re wrapping up another busy day at the Aspen Ideas Festival. Make sure to check out our full series of posts on this year’s event. Here are some of the most interesting, provocative and salient quotes we heard around Aspen:

“Every tweet is data that tells a story.” -Vivian Schiller, Head of News, Twitter

aspen ideas festival“We currently can select certain genetic traits for offspring, and we’re on the cusp of genetic modification.” -Nita A. Farahany, Professor of Law and Philosophy, Director of Institute for Genome Sciences and Policy, Duke University

“Conservation does not limit economic growth” -Roger Sant, Co-Founder and Chairman Emeritus, AES Corporation

“Making a customer happy is almost a spiritual experience. It gives you a sense of purpose.” -Sally Blount, Dean, Kellogg School of Management, Northwestern University

“Data don’t move us, stories do. This is how to change minds on climate change or any issue.” -Neal Baer, Physician; Television Writer and Producer

“Tell client, ‘we want to work on your toughest problems,’ not ‘how much money can I take from you?’” -Horacio Rozanski, President and COO, Booz Allen Hamilton

“We have more slaves in the world today than ever in history: 30 million.” -Monique Villa, CEO, Thomson Reuters Foundation

“The ability to tell stories is frighteningly powerful” -Kendall Haven, Master Storyteller; Story Consultant; Author, Story Proof

On the Common Core: “It’s a huge change in a short time… but I feel this huge sense of urgency: our kids can’t wait.” -Arne Duncan, US Secretary of Education

“It’s more important to be right than to be fast.” -Jim Bankoff, CEO, Vox Media

 

Innovation is all about changing the culture

Innovation

How can U.S. companies create and maintain an innovative culture? When I saw the title of that Aspen Ideas Festival session, I almost felt obligated to go. Innovation has played a crucial role in the history of our company and has arguably become more important in recent years. With the economy struggling since the global recession, being able to innovate and grow organically is one of the most important aspects of our business. So I sat down ready to hear from four individuals that represented some of the most powerful companies in the world to learn how they’ve mastered the art of innovation. (more…)