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Financial Times

The Financial Times (FT) is an English-language international daily newspaper with a special emphasis on business and economic news.

The paper, published and owned by Nikkei Inc. in Tokyo, was founded in 1888 by James Sheridan and Horatio Bottomley, and merged in 1945 with its closest rival, the Financial News (which had been founded in 1884).

The Financial Times has an average daily readership of 2.2 million people worldwide (PwC audited figures, November 2011). FT.com has 4.5 million registered users and over 285,000 digital subscribers, as well as 600,000 paying users. FT Chinese has more than 1.7 million registered users.[2] The world editions of the Financial Times newspaper had a combined average daily circulation of 234,193 copies (88,000 for the UK edition) in January 2014.[3] In February 2014 the combined sale of the world editions of the Financial Times was 224,000 copies. In October 2013 the combined paid print and digital circulation of the Financial Times reached nearly 629,000 copies (282,000 for print and 387,000 for online sales), the highest circulation in its 125-year history.[4] In December 2016 print sales for the paper stood at 193,211.[1]

On 23 July 2015 Nikkei Inc. agreed to buy the Financial Times from Pearson for £844m ($1.32 billion).[5] On 30 November 2015 Nikkei completed the acquisition.[6]

History

The front page of the Financial Times on 13 February 1888.

The FT was launched as the London Financial Guide on 10 January 1888, renaming itself the Financial Times on 13 February the same year. Describing itself as the friend of “The Honest Financier, the Bona Fide Investor, the Respectable Broker, the Genuine Director, and the Legitimate Speculator”, it was a four-page journal. The readership was the financial community of the City of London, its only rival being the slightly older and more daring Financial News. On 2 January 1893 the FT began printing on light salmon pink paper to distinguish it from the similarly named Financial News: at the time it was also cheaper to print on unbleached paper (several other more general newspapers such as The Sporting Times had the same policy), but nowadays it is more expensive as the paper has to be dyed specially

After 57 years of rivalry the Financial Times and the Financial News were merged in 1945 by Brendan Bracken to form a single six-page newspaper. The Financial Times brought a higher circulation while the Financial News provided much of the editorial talent. The Lex column was also introduced from Financial News.

Pearson bought the paper in 1957. Over the years the paper grew in size, readership and breadth of coverage. It established correspondents in cities around the world, reflecting early moves in the world economy towards globalisation. As cross-border trade and capital flows increased during the 1970s, the FT began international expansion, facilitated by developments in technology and the growing acceptance of English as the international language of business. On 1 January 1979 the first FT (Continental Europe edition) was printed outside the UK, in Frankfurt. Since then, with increased international coverage, the FT has become a global newspaper, printed in 22 locations with five international editions to serve the UK, continental Europe, the U.S., Asia and the Middle East.

The European edition is distributed in continental Europe and Africa. It is printed Monday to Saturday at five centres across Europe reporting on matters concerning the European Union, the Euro and European corporate affairs.

In 1994 FT launched a luxury lifestyle magazine, How To Spend It. In 2009 it launched a standalone website for the magazine.

On 13 May 1995 the Financial Times group made its first foray into the online world with the launch of FT.com. This provided a summary of news from around the globe, which was supplemented in February 1996 with stock price coverage; the second-generation site was launched in spring 1996. The site was funded by advertising and contributed to the online advertising market in the UK in the late 1990s. Between 1997 and 2000 the site underwent several revamps and changes of strategy, as the FT Group and Pearson reacted to changes online. FT introduced subscription services in 2002. FT.com is one of the few UK news sites successfully funded by individual subscription.

The London offices of the Financial Times at One Southwark Bridge (2013).

In 1997 the FT launched a U.S. edition, printed in New York, Chicago, Los Angeles, San Francisco, Dallas, Atlanta, Orlando and Washington, D.C., although the newspaper was first printed outside New York City in 1985. In September 1998 the FT became the first UK-based newspaper to sell more copies internationally than within the UK.

In 2000 the Financial Times started publishing a German-language edition, Financial Times Deutschland, with a news and editorial team based in Hamburg. Its initial circulation in 2003 was 90,000. It was originally a joint venture with a German publishing firm, Gruner + Jahr. In January 2008 the FT sold its 50% stake to its German partner.FT Deutschland never made a profit and is said to have accumulated losses of €250 million over 12 years. It closed on 7 December 2012.

The Financial Times launched a new weekly supplement for the fund management industry on 4 February 2002. FT fund management (FTfm) was and still is distributed with the paper every Monday. FTfm is the world’s largest-circulation fund management title.

Since 2005 the FT has sponsored the annual ”Financial Times” and Goldman Sachs Business Book of the Year Award.

On 23 April 2007 the FT unveiled a “refreshed” version of the newspaper and introduced a new slogan, “We Live in Financial Times.”

In 2007 the FT pioneered a metered paywall, which lets visitors to its site read a limited number of free articles during any one month before asking them to pay. Four years later the FT launched its HTML mobile internet app. Smartphones and tablets now drive 12% of subscriptions and 19% of traffic to FT.com.In 2012 the number of digital subscribers surpassed the circulation of the newspaper for the first time and the FT drew almost half of its revenue from subscriptions rather than advertising.

Since 2010 the FT has been available on Bloomberg Terminal.

Audience

According to the Global Capital Markets Survey, which measures readership habits amongst most senior financial decision makers in the world’s largest financial institutions, the Financial Times is considered the most important business read, reaching 36% of the sample population, 11% more than The Wall Street Journal (WSJ), its main rival. The Economist, which was once 50% owned by FT, reaches 32%. FT’s The Banker also proved vital reading, reaching 24%. In addition FT was regarded as the most credible publication in reporting financial and economic issues among the Worldwide Professional Investment Community audience. The Economist was also rated the third most credible title by most influential professional investors (those who personally managed asset funds worth $5 billion or more), while the WSJ was second.

Business Journalism

Business journalism is the branch of journalism that tracks, records, analyzes and interprets the business, economic and financial activities and changes that take place in a society. Topics widely cover the entire purview of all business activities related to the economy of a nation.

This area of journalism covers news and feature articles about people, places and issues related to the field of business. Most newspapers, magazines, radio, and television news shows carry a business segment. However, detailed and in depth business journalism can be found in publications, radio, and television channels dedicated specifically to business and financial journalism.

History

Business journalism began as early as the Middle Ages, to help well-known trading families communicate with each other.[1] In 1882 Charles Dow, Edward Jones and Charles Bergstresser began a wire service that delivered news to investment houses along Wall Street.[1] And in 1889 The Wall Street Journal began publishing.[1] While the famous muckraking journalist Ida Tarbell did not consider herself to be a business reporter, her reporting and writing about the Standard Oil Co. in 1902 provided the template for how thousands of business journalists have covered companies ever since.[2] Business coverage gained prominence in the 1990s, with wider investment in the stock market. The Wall Street Journal is one prominent example of business journalism, and is among the United States of America’s top newspapers in terms of both circulation and respect for the journalists whose work appears there.

Personnel

Journalists who work in this branch class as “business journalists”. Their main purpose is gathering information about current events in the economic life of the[which?] country. They may also cover processes, trends, consequences, and important people, in business and disseminate their work through all types of mass media.

Scope

Business journalism, although common in most industrialized countries, has a very limited role in third-world and developing countries. This leaves citizens of such countries in a very disadvantaged position locally and internationally.[citation needed] Recent efforts to bring business media to these countries have proven to be worthwhile.