reuters
Reuters is the global news and information company that traders, journalists and businesses rely on for fast, trustworthy market and world news.
In plain English
A trader in Lagos checks his phone before placing an order on the stock exchange, and a woman in a market in Onitsha checks the price of dollars before she buys stock for her shop from a supplier abroad. Both of them, without quite knowing it, are leaning on the same invisible engine of trust.
That engine is often Reuters. It started as a company that carried news and prices faster than anyone else could, using whatever technology was available at the time, from pigeons in its earliest days to cables, then wires, then screens full of numbers that never stop moving.
Today Reuters is known for two big things. There is the news arm, which reports on politics, business and events around the world with a reputation for being neutral and quick. Then there is the financial data side, which many banks, hedge funds and companies pay to access, showing live prices for currencies, shares, oil and other things that move markets every second.
For a Nigerian entrepreneur, Reuters matters in a calm practical way. If you import goods and need to know today's dollar to naira rate before you commit funds, or if you are building a business plan and want a credible source to quote for oil prices or inflation figures, Reuters is one of the names that gives your numbers weight. A Nigerian in London working in finance might spend her whole day staring at a Reuters terminal, watching prices shift as she makes decisions with other people's money.
The bigger lesson sits underneath the brand name. Good information, delivered fast and delivered straight, is worth paying for. Businesses that win are usually the ones who know what is happening before their competitors do, and Reuters built an entire empire simply by being early and being right.
A Lagos import business checks the Reuters reported dollar rate of ₦1,550 before agreeing to pay a Chinese supplier ₦7,750,000 for a container of goods, rather than trusting a guess from the parallel market.
Questions people ask
Is Reuters the same as Thomson Reuters?
Reuters is the news and information brand, while Thomson Reuters is the larger parent company that owns it, along with legal, tax and other professional information businesses.
Can an ordinary person access Reuters, or is it only for big banks?
Anyone can read Reuters news for free online, but the deep financial data terminals and feeds are usually paid for by banks, companies and serious investors because of the cost involved.
Why do Nigerian businesses care about a foreign news company?
Because prices for dollars, oil and other goods that affect Nigerian business are often reported through Reuters first, so knowing that information early can save or make real money.
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