Reuters News has named one of its top editors, Alessandra Galloni, as its next editor-in-chief, the first woman to lead the globe-spanning news agency in its 170-year history.
A native of Rome, Ms Galloni, 47, will replace Stephen J. Adler, who is retiring this month after leading the newsroom for the past decade. Under his leadership, Reuters has received hundreds of journalism awards, including seven Pulitzer Prizes, the industry’s highest honour.
A speaker of four languages, and with broad experience covering business and political news at Reuters and previously at the Wall Street Journal, Ms Galloni takes the helm as the news agency faces an array of challenges.
Some of these are common to all news media. Others are specific to the organisation’s complexity: With a worldwide staff of some 2,450 journalists, Reuters serves a range of divergent customers and is also a unit in a much larger information-services business.
Since 2008, Reuters has been part of Thomson Reuters, a corporation with more-lucrative and faster-growing segments than news. Its chief executive, Steve Hasker, who joined Thomson Reuters last year, has focused on aggressively expanding the corporation’s three largest businesses: providing information, software and services to lawyers, corporations and the tax and accounting profession. Mr Hasker’s strategy has helped boost Thomson Reuters stock to all-time highs.
Reuters News comprises about 10 per cent of Thomson Reuters’ total $5.9 billion in revenues. Unlike many news organisations, Reuters is profitable. But it is also a drag on the parent company’s revenue growth and profit margin, analysts say, and the executive who runs the news business, Reuters president Michael Friedenberg, is pushing to increase sales and boost profitability.
Looking forward, Thomson Reuters’ chief financial officer last month forecast that sales at its “Big Three” businesses are expected to grow 6 per cent to 7 per cent in 2023, while its news division and printing business “are expected to dilute organic revenue growth by about 1 per cent to 2 per cent”.
Gary Bisbee, an analyst at Bank of America, said he expects Reuters News “will continue to be a drag on the growth of the company”, but added that as other divisions of Thomson Reuters grow faster, that drag would diminish over time.
Reuters is a tremendously powerful part of the Thomson Reuters brand, and the mighty Reuters newsroom behind you and all the really specialised business assets is a great combination
Thomson Reuters is hoping for a turnaround in the Reuters Events business, which it acquired in October 2019. Almost all in-person conferences last year were cancelled or postponed because of the Covid-19 pandemic. But the business has pivoted to a hybrid events strategy for 2021 with both in-person and virtual conferences, and expects its revenues to improve.
While some in the industry have speculated that Thomson Reuters might want to sell the news division, three analysts said they don’t expect a sale.
Douglas McCabe, a media analyst with Enders Analysis in London, said Reuters is “a tremendously powerful part of” the Thomson Reuters brand, and that “the mighty Reuters newsroom behind you and all the really specialised business assets is a great combination”.
In a statement, Mr Hasker said: “Thomson Reuters is committed to the future of Reuters News. It is an important part of the company and is valued across our customer base. The last year has proven beyond question the value of independent, global, unbiased journalism.”
This year saw the closing of a deal in which the former financial and risk business of Thomson Reuters – now called Refinitiv – was sold to the London Stock Exchange Group in a $27bn all-stock deal. Under the terms, Reuters News is guaranteed annual payments of at least $336 million to provide news and editorial content to Refinitiv until 2048. That stream of revenue is envied by many in the media industry.
Ms Galloni has told colleagues that one of her critical tasks would be maintaining a good relationship with Refinitiv, as it is Reuters’ biggest customer, accounting for slightly more than half of the news agency’s $628m in revenues last year.
The important relationship has been a source of some tension, senior editors say. As part of the contract with Refinitiv, Reuters is required to meet strict performance targets for the news coverage that Refinitiv clients receive, which Reuters has exceeded so far.
Thomson Reuters, for its part, noted in its latest annual report that the exclusive deal, while lucrative, limits Reuters’ ability to sell to other customers in the growing financial services industry.
Thomson Reuters is committed to the future of Reuters News. It is an important part of the company and is valued across our customer base
Gordon Crovitz, a former publisher of the Wall Street Journal, said the new editor will nevertheless have to find new sources of revenue.
“Reuters is in an unusual position because the pledge from Refinitiv frees Reuters News up to be more aggressive in creating new news products to serve new markets,” he said. “I think there’s still a lot of low-hanging fruit for Reuters because of the strength of the brand and the size of the staff.”
Reuters’ primary competitors include Bloomberg News, the Associated Press, French news agency AFP and visual content provider Getty Images. In addition to its events business, Reuters has been seeking other growth opportunities. Prominent among these is the upcoming launch of a revamped website that is expected to target professionals and eventually begin charging for content.
Mr McCabe said convincing consumers to pay for content is challenging because “Reuters is a brand that a lot of people recognise but don’t intuitively go to”. But he is more optimistic that targeting professionals could succeed for Reuters. “All the evidence says to me that these are the subscription models that really work,” he said.
Chief executive Mr Hasker has told colleagues that he wants to make Reuters more integral to the company’s other divisions. To that end, the newsroom recently added to its legal reporting staff.
Mr Adler spearheaded a number of moves to modernise Reuters, which gained fame in its early days for using carrier pigeons to relay scoops. In the past decade, the newsroom created teams of investigative, data and graphics journalists, and is using artificial intelligence to speed the delivery of certain breaking financial news.
Mr Hasker has said he is eager to continue modernising the newsroom by getting it to embrace new technologies more aggressively. He and Mr Friedenberg considered a wide range of journalists to succeed Mr Adler, both inside and outside the news agency, according to people familiar with the matter.
Among them were two top Reuters editors, Gina Chua and Simon Robinson. The external candidates included David Walmsley, editor-in-chief of Canada's The Globe and Mail, and Kevin Delaney, former co-chief executive and editor-in-chief of Quartz Media.
For 170 years, Reuters has set the standard for independent, trusted and global reporting
Ms Galloni, based in London, is known internally as a charismatic presence with a keen interest in business news. She has told colleagues that her priorities would include boosting the Reuters digital and events businesses.
She takes the helm after serving as a global managing editor of Reuters, overseeing journalists in 200 locations around the world.
At the beginning of her career, she worked at the Reuters Italian-language news service. She received degrees from Harvard University and the London School of Economics. She returned to Reuters in 2013 following about 13 years at The Wall Street Journal, where she specialised in economics and business coverage as a reporter and editor in London, Paris and Rome.
“For 170 years, Reuters has set the standard for independent, trusted and global reporting,” Ms Galloni said in the Reuters announcement on her appointment, which takes effect on April 19. “It is an honour to lead a world-class newsroom full of talented, dedicated and inspiring journalists.”
The hunt for the new Reuters editor came as other major media are dealing with succession in the newsroom. Both the Washington Post, where executive editor Marty Baron retired in February, and the Los Angeles Times, where Norman Pearlstine stepped down as executive editor in December, are currently seeking their replacements.
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
A Cat, A Man, and Two Women
Junichiro Tamizaki
Translated by Paul McCarthy
Daunt Books
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Dresos%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20September%202020%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Vladimir%20Radojevic%20and%20Aleksandar%20Jankovic%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Fashion%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%24285%2C000%3B%20%24500%2C000%20currently%20being%20raised%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Crowdfunding%2C%20family%2C%20friends%20and%20self-funding%3C%2Fp%3E%0A
The specs
Engine: 3.8-litre, twin-turbo V8
Transmission: eight-speed automatic
Power: 582bhp
Torque: 730Nm
Price: Dh649,000
On sale: now
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
UAE currency: the story behind the money in your pockets
Getting%20there%20
%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Ftravel%2F2023%2F01%2F12%2Fwhat-does-it-take-to-be-cabin-crew-at-one-of-the-worlds-best-airlines-in-2023%2F%22%20target%3D%22_self%22%3EEtihad%20Airways%20%3C%2Fa%3Eflies%20daily%20to%20the%20Maldives%20from%20Abu%20Dhabi.%20The%20journey%20takes%20four%20hours%20and%20return%20fares%20start%20from%20Dh3%2C995.%20Opt%20for%20the%203am%20flight%20and%20you%E2%80%99ll%20land%20at%206am%2C%20giving%20you%20the%20entire%20day%20to%20adjust%20to%20island%20time.%20%C2%A0%3C%2Fp%3E%0A%3Cp%3ERound%20trip%20speedboat%20transfers%20to%20the%20resort%20are%20bookable%20via%20Anantara%20and%20cost%20%24265%20per%20person.%20%C2%A0%3C%2Fp%3E%0A
School counsellors on mental well-being
Schools counsellors in Abu Dhabi have put a number of provisions in place to help support pupils returning to the classroom next week.
Many children will resume in-person lessons for the first time in 10 months and parents previously raised concerns about the long-term effects of distance learning.
Schools leaders and counsellors said extra support will be offered to anyone that needs it. Additionally, heads of years will be on hand to offer advice or coping mechanisms to ease any concerns.
“Anxiety this time round has really spiralled, more so than from the first lockdown at the beginning of the pandemic,” said Priya Mitchell, counsellor at The British School Al Khubairat in Abu Dhabi.
“Some have got used to being at home don’t want to go back, while others are desperate to get back.
“We have seen an increase in depressive symptoms, especially with older pupils, and self-harm is starting younger.
“It is worrying and has taught us how important it is that we prioritise mental well-being.”
Ms Mitchell said she was liaising more with heads of year so they can support and offer advice to pupils if the demand is there.
The school will also carry out mental well-being checks so they can pick up on any behavioural patterns and put interventions in place to help pupils.
At Raha International School, the well-being team has provided parents with assessment surveys to see how they can support students at home to transition back to school.
“They have created a Well-being Resource Bank that parents have access to on information on various domains of mental health for students and families,” a team member said.
“Our pastoral team have been working with students to help ease the transition and reduce anxiety that [pupils] may experience after some have been nearly a year off campus.
"Special secondary tutorial classes have also focused on preparing students for their return; going over new guidelines, expectations and daily schedules.”
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Global state-owned investor ranking by size
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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More from Armen Sarkissian
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
FIXTURES
All games 6pm UAE on Sunday:
Arsenal v Watford
Burnley v Brighton
Chelsea v Wolves
Crystal Palace v Tottenham
Everton v Bournemouth
Leicester v Man United
Man City v Norwich
Newcastle v Liverpool
Southampton v Sheffield United
West Ham v Aston Villa
Top goalscorers in Europe
34 goals - Robert Lewandowski (68 points)
34 - Ciro Immobile (68)
31 - Cristiano Ronaldo (62)
28 - Timo Werner (56)
25 - Lionel Messi (50)
*29 - Erling Haaland (50)
23 - Romelu Lukaku (46)
23 - Jamie Vardy (46)
*NOTE: Haaland's goals for Salzburg count for 1.5 points per goal. Goals for Dortmund count for two points per goal.
The Farewell
Director: Lulu Wang
Stars: Awkwafina, Zhao Shuzhen, Diana Lin, Tzi Ma
Four stars
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
Race card
6.30pm: Maiden (TB) Dh 82,500 (Dirt) 1.600m
7.05pm: Maiden (TB) Dh 82,500 (D) 2,000m
7.50pm: Handicap (TB) Dh 82,500 (D) 1,600m
8.15pm: The Garhoud Sprint Listed (TB) Dh 132,500 (D) 1,200m
8.50pm: The Entisar Listed (TB) Dh 132,500 (D) 2,000m
9.25pm: Conditions (TB) Dh 120,000 (D) 1,400m
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Mohammed bin Zayed Majlis
The five pillars of Islam
LOS ANGELES GALAXY 2 MANCHESTER UNITED 5
Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')
Where can I submit a sample?
Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.
Collection centres in Abu Dhabi include:
- Abu Dhabi National Exhibition Centre (ADNEC)
- Biogenix Labs in Masdar City
- Al Towayya in Al Ain
- NMC Royal Hospital in Khalifa City
- Bareen International Hospital
- NMC Specialty Hospital, Al Ain
- NMC Royal Medical Centre - Abu Dhabi
- NMC Royal Women’s Hospital.
Ready Player One
Dir: Steven Spielberg
Starring: Tye Sheridan, Olivia Cooke, Ben Mendelsohn, Mark Rylance
UAE currency: the story behind the money in your pockets
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Factfile on Garbine Muguruza:
Name: Garbine Muguruza (ESP)
World ranking: 15 (will rise to 5 on Monday)
Date of birth: October 8, 1993
Place of birth: Caracas, Venezuela
Place of residence: Geneva, Switzerland
Height: 6ft (1.82m)
Career singles titles: 4
Grand Slam titles: 2 (French Open 2016, Wimbledon 2017)
Career prize money: $13,928,719
Result
2.15pm: Maiden Dh75,000 1,950m; Winner: Majestic Thunder, Tadhg O’Shea (jockey), Satish Seemar (trainer).
2.45pm: Handicap Dh80,000 1,800m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.
3.15pm: Handicap Dh85,000 1,600m; Winner: Native Appeal, Adam McLean, Doug Watson.
3.45pm: Handicap Dh115,000 1,950m; Winner: Conclusion, Antonio Fresu, Musabah Al Muhairi.
4.15pm: Handicap Dh100,000 1,400m; Winner: Pilgrim’s Treasure, Tadhg O’Shea, Satish Seemar.
4.45pm: Maiden Dh75,000 1,400m; Winner: Sanad Libya, Richard Mullen, Satish Seemar.
5.15pm: Handicap Dh90,000 1,000m; Winner: Midlander, Richard Mullen, Satish Seemar
The specs
Engine: 2.2-litre, turbodiesel
Transmission: 6-speed auto
Power: 160hp
Torque: 385Nm
Price: Dh116,900
On sale: now
