Reuters Group has reported a record loss and announced another 3,000 job cuts as part of a new, three-year strategy to revive its fortunes.
The world's largest provider of financial information reported a net loss of £394 million, the biggest in its 151-year history, although underlying pre-tax profits, at £89 million, were at the top end of market forecasts.
The firm also said it was buying Multex, which provides earnings estimates on over 16,000 companies worldwide, for an estimated cash cost of $195 million.
Reuters shares have fallen about 70 per cent over the past year, closing on Monday at 153-1/2p.