Difference between revisions of "Financial Times" - New World Encyclopedia
| Line 4: | Line 4: | ||
| − | The '''''Financial Times''''' ('''''FT''''') is an international business newspaper printed on distinctive salmon pink [[broadsheet]] paper. The paper was started in 1888 in London. The paper's main focus is business news and the economy. It's editorial stance is center-right, although it is considered more liberal than its rival, [[ | + | The '''''Financial Times''''' ('''''FT''''') is an international [[business]] [[newspaper]] printed on distinctive salmon pink [[broadsheet]] paper. The paper was started in 1888 in [[London]]. The paper's main focus is business news and the economy. It's editorial stance is center-right, although it is considered more liberal than its rival, the ''[[Wall Street Journal]]''. The periodical is printed in 23 cities: [[London]], [[Leeds]], [[Dublin]], [[Paris]], [[Frankfurt]], [[Stockholm]], [[Milan]], [[Madrid]], [[New York City]], [[Chicago]], [[Los Angeles]], [[San Francisco]], [[Dallas]], [[Atlanta]], [[Miami]], [[Washington DC]], [[Tokyo]], [[Hong Kong]], [[Singapore]], [[Seoul]], [[Dubai]], [[Johannesburg]], and [[Istanbul]]. The ''Financial Times'' newspaper has a circulation of over 440,000 copies worldwide, and a readership of 1.3 million people in over 110 countries.<ref>[http://www.ft.com/servicestools/mediainquiries/generalinfo FT General Information] ''FT.com'' Retrieved May 5, 2007.</ref> |
| + | |||
| + | The ''FT'' is firmly established as one of the world’s leading sources of business information, internationally recognized for its authoritative, accurate, and incisive news, comment, and analysis. FT.com is the [[internet]] partner of the FT newspaper, providing news, comment, data, and analysis for the global business community. | ||
==History== | ==History== | ||
| − | The '' | + | The ''Financial Times'' was launched as the ''London Financial Guide'' on January 9, 1888, by James Sheridan<ref>[http://search.eb.com/eb/article-9034279 Financial Times]] ''Encyclopedia Brittanica''. Retrieved March 22, 2007.</ref> with Horatio Bottomley serving as its first chairman. The paper renamed itself the ''Financial Times'' on February 13th of the same year. Describing itself as the friend of "The Honest Financier and the Respectable Broker," it was initially published as a four page journal from its headquarters in [[London]]. The initial readership was the financial community of the City of London. |
| + | |||
| + | The ''Financial Times'' soon established itself as the sober but reliable "stockbroker's Bible," with its only rival being the slightly older and more daring ''Financial News''. In 1893, the ''FT'' turned salmon pink — a masterstroke that made it immediately distinguishable from its competitor, the similarly named ''[[Financial News]]'' (founded 1884). From their initial rivalry, the two papers merged in 1945 to form a single six-page newspaper. The ''Financial Times'' brought with it a higher circulation, while the ''Financial News'' provided enormous editorial talent. | ||
| − | Over the years, the newspaper grew in size, readership, and breadth of coverage. It also established a network of correspondents in major cities around the world, reflecting early moves in the world economy towards globalization. As cross-border trade and capital flows increased rapidly during the 1970s, the ''FT'' began a program of international expansion, facilitated by developments in technology and the growing acceptance of English as the international language of business. | + | Over the years, the newspaper grew in size, readership, and breadth of coverage. It also established a network of correspondents in major cities around the world, reflecting early moves in the world economy towards [[globalization]]. As [[international trade|cross-border trade]] and [[capital]] flows increased rapidly during the 1970s, the ''FT'' began a program of international expansion, facilitated by developments in [[technology]] and the growing acceptance of English as the international language of business. |
| − | On January 1 1979, the first ''FT'' to be printed outside the UK rolled off the presses in Frankfurt, Germany. Since then, with its greatly increased international coverage, the ''FT'' has become a truly global business newspaper, printed in 23 locations worldwide, with | + | On January 1 1979, the first ''FT'' to be printed outside the [[United Kingdom|UK]] rolled off the presses in [[Frankfurt]], [[Germany]]. Since then, with its greatly increased international coverage, the ''FT'' has become a truly global business newspaper, printed in 23 locations worldwide, with three international editions to serve the needs of its readers in the UK, Continental [[Europe]], the [[United States|US]], and [[Asia]]. The European edition is distributed in Continental Europe, the [[Middle East]], [[Africa]], and Asia. It is printed Monday through Saturday, at five strategically located print centers across Europe. Thanks to its extensive network of correspondents reporting from all the political and commercial nerve centers of Europe, the ''FT'' is widely regarded to be the premiere news source involving the [[European Union]], the [[Euro]], and European corporate affairs. |
| − | In 1997, the ''FT'' launched the US edition, which is now printed in New York, Chicago, Los Angeles, San Francisco, Dallas, Atlanta, Orlando and Washington, DC. In 2007, the daily circulation of the US edition was 460,000.<ref>[http://www.newspaperdirect.com/newspapers/profile.aspx?newspaper=Financial+Times+USA&cid=1009 Financial Times.] Newspaper Direct. Retrieved February 25, 2007.</ref> | + | In 1997, the ''FT'' launched the US edition, which is now printed in [[New York City]], [[Chicago]], [[Los Angeles]], [[San Francisco]], [[Dallas]], [[Atlanta]], [[Orlando]], and [[Washington, DC]]. In 2007, the daily circulation of the US edition was 460,000.<ref>[http://www.newspaperdirect.com/newspapers/profile.aspx?newspaper=Financial+Times+USA&cid=1009 Financial Times.] Newspaper Direct. Retrieved February 25, 2007.</ref> |
In September 1998, the ''FT'' became the first UK-based newspaper to sell more copies internationally than within the UK. Worldwide circulation stands at 432,548 (Source: ABC July 2006), with global readership estimated at over 1.6 million people in more than 140 countries. | In September 1998, the ''FT'' became the first UK-based newspaper to sell more copies internationally than within the UK. Worldwide circulation stands at 432,548 (Source: ABC July 2006), with global readership estimated at over 1.6 million people in more than 140 countries. | ||
| − | Since 2000, the ''FT'' publishes a German language edition, ''[[Financial Times Deutschland]]'', with its own news coverage. Its circulation in 2007 was 101,000.<ref>[http://www.newspaperdirect.com/newspapers/profile.aspx?newspaper=Financial+Times+Deutschland&cid=3007 Financial Times]. Newspaper Direct. Retrieved February 25, 2007.</ref> | + | Since 2000, the ''FT'' publishes a German language edition, ''[[Financial Times Deutschland]]'', with its own news coverage. Its circulation in 2007 was 101,000.<ref>[http://www.newspaperdirect.com/newspapers/profile.aspx?newspaper=Financial+Times+Deutschland&cid=3007 Financial Times]. ''Newspaper Direct''. Retrieved February 25, 2007.</ref> |
| + | |||
| + | In July 2006, the ''FT'' announced a "New Newsroom" project to integrate the newspaper more closely with the online [http://www.ft.com FT.com]. At the same time, it announced plans to cut the editorial staff from 525 to 475. In August, it announced that all the required job cuts had been achieved through voluntary layoffs.<ref>[http://query.nytimes.com/gst/fullpage.html?res=9E0CE5D81538F933A05756C0A967948260 Financial Times Plans Layoff of 200] ''The New York Times.'' Retrieved February 25, 2007.</ref> | ||
| + | In 2007, the online FT.com attracted 5.3 million (ABC electronic figures Jan 07) unique monthly users, generating over 40 million page views and over 93,000 subscribers.<ref>[http://www.ft.com/servicestools/mediainquiries/generalinfo FT General Information] FT.com Retrieved May 5, 2007.</ref> | ||
| − | + | On April 23, 2007, following in the wake of other notable newspaper redesigns such as the January 2007 ''[[Wall Street Journal]]'' revamp, the ''FT'' also relaunched the paper, complete with a new typeface, but with no reduction in paper size (unlike with the recent ''Wall Street Journal'' redesign or the expected ''[[New York Times]]'' redesign). This redesign has been billed by some as the “most dramatic revamp [of the ''FT''] in a generation” and, in addition to the typeface changes, includes the addition of more panels in the news pages, more first page feature content in the “Companies and Markets” section, and more “squeezed” sports content, to allow for an extra foreign news page.<ref>[http://www.editorsweblog.org/print_newspapers/2007/04/uk_financial_times_debuts_redesign.php UK: Financial Times debuts redesign] Retrieved 3 May 2007.</ref> ''FT'' editor Barber noted that the changes are “evolutionary and will provide extra news, deeper analysis and comment. By improving the navigation of the newspaper, we're aiming to help our busy readers get more out of the paper so that they understand that the ''Financial Times'' is not only as an informative and entertaining read, but also as an essential business tool”<ref>[http://www.pearson.com/index.cfm?pageid=31&pressid=2246 Financial Times unveils global refresh] Retrieved 3 May 2007.</ref> and he dubbed the redesigned paper as being a “sharper” ''FT''.<ref>[http://www.ft.com/cms/s/283a961a-f137-11db-838b-000b5df10621.html The sharper FT] Retrieved 3 May 2007.</ref> Some subtle changes include the reintroduction, above the leaders, of the ''FT's'' original 1888 motto, “Without fear and without favour”<ref>[http://blogs.guardian.co.uk/greenslade/2007/04/barbers_revamped_ft_makes_a_co.html Barber's revamped FT makes a colourful debut] Retrieved 3 May 2007.</ref> and more signposts to FT.com. To coincide with the redesign, [[Pearson PLC]] announced a new advertising campaign centered around the tag-line “We Live in Financial Times”.<ref>[http://www.pearson.com/index.cfm?pageid=31&pressid=2248 Financial Times launches new brand advertising campaign] Retrieved 3 May 2007.</ref><ref>[http://www.weliveinfinancialtimes.com/ Financial Times - World business. In one place.] Retrieved 3 May 2007.</ref> | |
==Content== | ==Content== | ||
| − | The ''FT'' reports extensively on business and features extensive share and financial product listings. It also has a sizable network of international reporters – | + | The ''FT'' reports extensively on [[business]] and features extensive share and financial product listings. It also has a sizable network of international reporters – approximately one fourth of its journalists are based outside the UK. The ''FT'' is usually in two sections, the first section covers national and international news, while the second section covers company and markets news. |
| − | ===How To Spend It=== | + | ===''How To Spend It''=== |
| − | ''How To Spend It'' magazine is a monthly magazine that usually | + | ''How To Spend It'' [[magazine]] is a monthly magazine that is usually published with the ''Financial Times Weekend Edition''. The large, glossy magazine has won the hearts of many ''Weekend Edition'' subscribers, with its high detail on the latest in the glitz and glamor of the high-life. Its articles mostly concern high quality products: [[yacht]]s, mansions, apartments, designs, haute couture, [[automobile]]s, [[fashion]] advice, and columns by important individuals in the arts, gardening, food, the hotel business, and travel industries. It regularly themes its issues, such as "Travelling Unravelled," "A Passion for Fashion," "Superior Interiors," and its annual "Christmas Unwrapped." ''How To Spend It'' has won numerous prizes for being the best newspaper supplement of the year.<ref>[http://www.pearson.com/investor/ar1997/info.htm Pearson Annual Report 1997.] Pearson Plc. Retrieved February 25, 2007.</ref> |
[[Image:FTbuild.jpg|thumb|The Financial Times building]] | [[Image:FTbuild.jpg|thumb|The Financial Times building]] | ||
===Opinions=== | ===Opinions=== | ||
| − | The ''Financial Times'' is normally seen as center-right/liberal, although to the left of its principal competitor, ''[[The Wall Street Journal]]''. It advocates free markets and is generally in favor of [[globalization]]. During the | + | The ''Financial Times'' is normally seen as center-right/liberal, although to the left of its principal competitor, ''[[The Wall Street Journal]]''. It advocates free markets and is generally in favor of [[globalization]]. During the 1980s it supported [[Margaret Thatcher]] and [[Ronald Reagan]]'s [[monetarism|monetarist]] policies. Later, however, it has seemed to align itself with [[Labour Party (UK)]] in the UK. FT editorials have tended to be pro-[[European Union]], though often taking a critical view. |
== Ownership and Related products== | == Ownership and Related products== | ||
| − | + | FT Knowledge is an associated company, through [[Pearson PLC]], which offers [[education]]al products and services to a variety of customers. FT Knowledge has offered the "Introducing the City" course (which is a series of Wednesday night lectures/seminars, as well as weekend events) since 2000. | |
| + | |||
| + | [[Financial Times Group]] includes the ''Financial Times'', FT.com, a 50 percent shareholding in ''[[The Economist]]'', [[Interactive Data Corporation FT|Interactive Data Corporation]] (a market data provider) , ownership of ''[[Les Échos]]'' (a [[Paris]]-based financial daily), mergermarket (an online intelligence reporting family) and numerous joint ventures including ''[[Vedomosti]]'' in [[Russia]]. In addition, the FT Group has a unit called FT Business which is a provider of specialist information on retail, personal, and institutional finance segments. It is a publisher in the UK of ''[[Investors Chronicle]]'' (a personal finance magazine), ''[[The Banker]]'', ''[[Money Management]]'', and ''[[Financial Adviser FT|Financial Adviser]]'' (a publication targeted at professional advisers). | ||
| − | + | In 2006, the ''Financial Times'' also ran a business-related game called "In the Pink" (a reference to the color of the newspaper, and to the phrase "in the red" meaning to be making a loss). The player was put in the virtual role of [[Chief Executive]] and the goal was to have the highest [[profit]] when the game closed. The winner of the game received a prize of £10,000. | |
| − | + | ==People== | |
| + | A number of former ''FT'' journalists have gone on to high-profile jobs in [[journalism]], [[politics]], and [[business]]. [[Robert Thomson]], previously the paper's US managing editor, became editor of ''[[The Times]]''. [[Will Lewis]], a former New York correspondent and News Editor for the FT, became the editor of the ''[[Daily Telegraph]]''. [[Andrew Adonis]], a former [[education]] correspondent, became an adviser on education to [[Tony Blair]], the British prime minister, and was given a job as an education minister and a seat in the [[House of Lords]] after the 2005 election. [[Ed Balls]] became chief economic adviser to the Treasury, working closely with [[Gordon Brown]], the [[chancellor of the exchequer]] (or finance minister) before being elected as an [[Member of Parliament|MP]] in 2005. [[Bernard Gray]], a former defense correspondent and Lex columnist, was chief executive of publishing company CMP before becoming chief executive of TSL Education, publisher of the ''[[Times Educational Supplement]]''. | ||
==Notes== | ==Notes== | ||
Revision as of 00:59, 5 May 2007
The Financial Times (FT) is an international business newspaper printed on distinctive salmon pink broadsheet paper. The paper was started in 1888 in London. The paper's main focus is business news and the economy. It's editorial stance is center-right, although it is considered more liberal than its rival, the Wall Street Journal. The periodical is printed in 23 cities: London, Leeds, Dublin, Paris, Frankfurt, Stockholm, Milan, Madrid, New York City, Chicago, Los Angeles, San Francisco, Dallas, Atlanta, Miami, Washington DC, Tokyo, Hong Kong, Singapore, Seoul, Dubai, Johannesburg, and Istanbul. The Financial Times newspaper has a circulation of over 440,000 copies worldwide, and a readership of 1.3 million people in over 110 countries.[1]
The FT is firmly established as one of the world’s leading sources of business information, internationally recognized for its authoritative, accurate, and incisive news, comment, and analysis. FT.com is the internet partner of the FT newspaper, providing news, comment, data, and analysis for the global business community.
History
The Financial Times was launched as the London Financial Guide on January 9, 1888, by James Sheridan[2] with Horatio Bottomley serving as its first chairman. The paper renamed itself the Financial Times on February 13th of the same year. Describing itself as the friend of "The Honest Financier and the Respectable Broker," it was initially published as a four page journal from its headquarters in London. The initial readership was the financial community of the City of London.
The Financial Times soon established itself as the sober but reliable "stockbroker's Bible," with its only rival being the slightly older and more daring Financial News. In 1893, the FT turned salmon pink — a masterstroke that made it immediately distinguishable from its competitor, the similarly named Financial News (founded 1884). From their initial rivalry, the two papers merged in 1945 to form a single six-page newspaper. The Financial Times brought with it a higher circulation, while the Financial News provided enormous editorial talent.
Over the years, the newspaper grew in size, readership, and breadth of coverage. It also established a network of correspondents in major cities around the world, reflecting early moves in the world economy towards globalization. As cross-border trade and capital flows increased rapidly during the 1970s, the FT began a program of international expansion, facilitated by developments in technology and the growing acceptance of English as the international language of business.
On January 1 1979, the first FT to be printed outside the UK rolled off the presses in Frankfurt, Germany. Since then, with its greatly increased international coverage, the FT has become a truly global business newspaper, printed in 23 locations worldwide, with three international editions to serve the needs of its readers in the UK, Continental Europe, the US, and Asia. The European edition is distributed in Continental Europe, the Middle East, Africa, and Asia. It is printed Monday through Saturday, at five strategically located print centers across Europe. Thanks to its extensive network of correspondents reporting from all the political and commercial nerve centers of Europe, the FT is widely regarded to be the premiere news source involving the European Union, the Euro, and European corporate affairs.
In 1997, the FT launched the US edition, which is now printed in New York City, Chicago, Los Angeles, San Francisco, Dallas, Atlanta, Orlando, and Washington, DC. In 2007, the daily circulation of the US edition was 460,000.[3]
In September 1998, the FT became the first UK-based newspaper to sell more copies internationally than within the UK. Worldwide circulation stands at 432,548 (Source: ABC July 2006), with global readership estimated at over 1.6 million people in more than 140 countries.
Since 2000, the FT publishes a German language edition, Financial Times Deutschland, with its own news coverage. Its circulation in 2007 was 101,000.[4]
In July 2006, the FT announced a "New Newsroom" project to integrate the newspaper more closely with the online FT.com. At the same time, it announced plans to cut the editorial staff from 525 to 475. In August, it announced that all the required job cuts had been achieved through voluntary layoffs.[5] In 2007, the online FT.com attracted 5.3 million (ABC electronic figures Jan 07) unique monthly users, generating over 40 million page views and over 93,000 subscribers.[6]
On April 23, 2007, following in the wake of other notable newspaper redesigns such as the January 2007 Wall Street Journal revamp, the FT also relaunched the paper, complete with a new typeface, but with no reduction in paper size (unlike with the recent Wall Street Journal redesign or the expected New York Times redesign). This redesign has been billed by some as the “most dramatic revamp [of the FT] in a generation” and, in addition to the typeface changes, includes the addition of more panels in the news pages, more first page feature content in the “Companies and Markets” section, and more “squeezed” sports content, to allow for an extra foreign news page.[7] FT editor Barber noted that the changes are “evolutionary and will provide extra news, deeper analysis and comment. By improving the navigation of the newspaper, we're aiming to help our busy readers get more out of the paper so that they understand that the Financial Times is not only as an informative and entertaining read, but also as an essential business tool”[8] and he dubbed the redesigned paper as being a “sharper” FT.[9] Some subtle changes include the reintroduction, above the leaders, of the FT's original 1888 motto, “Without fear and without favour”[10] and more signposts to FT.com. To coincide with the redesign, Pearson PLC announced a new advertising campaign centered around the tag-line “We Live in Financial Times”.[11][12]
Content
The FT reports extensively on business and features extensive share and financial product listings. It also has a sizable network of international reporters – approximately one fourth of its journalists are based outside the UK. The FT is usually in two sections, the first section covers national and international news, while the second section covers company and markets news.
How To Spend It
How To Spend It magazine is a monthly magazine that is usually published with the Financial Times Weekend Edition. The large, glossy magazine has won the hearts of many Weekend Edition subscribers, with its high detail on the latest in the glitz and glamor of the high-life. Its articles mostly concern high quality products: yachts, mansions, apartments, designs, haute couture, automobiles, fashion advice, and columns by important individuals in the arts, gardening, food, the hotel business, and travel industries. It regularly themes its issues, such as "Travelling Unravelled," "A Passion for Fashion," "Superior Interiors," and its annual "Christmas Unwrapped." How To Spend It has won numerous prizes for being the best newspaper supplement of the year.[13]
Opinions
The Financial Times is normally seen as center-right/liberal, although to the left of its principal competitor, The Wall Street Journal. It advocates free markets and is generally in favor of globalization. During the 1980s it supported Margaret Thatcher and Ronald Reagan's monetarist policies. Later, however, it has seemed to align itself with Labour Party (UK) in the UK. FT editorials have tended to be pro-European Union, though often taking a critical view.
Ownership and Related products
FT Knowledge is an associated company, through Pearson PLC, which offers educational products and services to a variety of customers. FT Knowledge has offered the "Introducing the City" course (which is a series of Wednesday night lectures/seminars, as well as weekend events) since 2000.
Financial Times Group includes the Financial Times, FT.com, a 50 percent shareholding in The Economist, Interactive Data Corporation (a market data provider) , ownership of Les Échos (a Paris-based financial daily), mergermarket (an online intelligence reporting family) and numerous joint ventures including Vedomosti in Russia. In addition, the FT Group has a unit called FT Business which is a provider of specialist information on retail, personal, and institutional finance segments. It is a publisher in the UK of Investors Chronicle (a personal finance magazine), The Banker, Money Management, and Financial Adviser (a publication targeted at professional advisers).
In 2006, the Financial Times also ran a business-related game called "In the Pink" (a reference to the color of the newspaper, and to the phrase "in the red" meaning to be making a loss). The player was put in the virtual role of Chief Executive and the goal was to have the highest profit when the game closed. The winner of the game received a prize of £10,000.
People
A number of former FT journalists have gone on to high-profile jobs in journalism, politics, and business. Robert Thomson, previously the paper's US managing editor, became editor of The Times. Will Lewis, a former New York correspondent and News Editor for the FT, became the editor of the Daily Telegraph. Andrew Adonis, a former education correspondent, became an adviser on education to Tony Blair, the British prime minister, and was given a job as an education minister and a seat in the House of Lords after the 2005 election. Ed Balls became chief economic adviser to the Treasury, working closely with Gordon Brown, the chancellor of the exchequer (or finance minister) before being elected as an MP in 2005. Bernard Gray, a former defense correspondent and Lex columnist, was chief executive of publishing company CMP before becoming chief executive of TSL Education, publisher of the Times Educational Supplement.
Notes
- ↑ FT General Information FT.com Retrieved May 5, 2007.
- ↑ Financial Times] Encyclopedia Brittanica. Retrieved March 22, 2007.
- ↑ Financial Times. Newspaper Direct. Retrieved February 25, 2007.
- ↑ Financial Times. Newspaper Direct. Retrieved February 25, 2007.
- ↑ Financial Times Plans Layoff of 200 The New York Times. Retrieved February 25, 2007.
- ↑ FT General Information FT.com Retrieved May 5, 2007.
- ↑ UK: Financial Times debuts redesign Retrieved 3 May 2007.
- ↑ Financial Times unveils global refresh Retrieved 3 May 2007.
- ↑ The sharper FT Retrieved 3 May 2007.
- ↑ Barber's revamped FT makes a colourful debut Retrieved 3 May 2007.
- ↑ Financial Times launches new brand advertising campaign Retrieved 3 May 2007.
- ↑ Financial Times - World business. In one place. Retrieved 3 May 2007.
- ↑ Pearson Annual Report 1997. Pearson Plc. Retrieved February 25, 2007.
ReferencesISBN links support NWE through referral fees
- Arnold, Glen. 2004. The Financial Times Guide To Investing: The Definitive Companion To Investment and The Financial Markets. Financial Times/Prentice Hall. ISBN 0273663097
- Kynaston, David. 1988. The Financial Times: A Centenary History. Viking Adult. ISBN 0670812951 ISBN 978-0670812950
- Vaitilingam, Romesh. 2007. The Financial Times Guide to Using the Financial Pages. Financial Times/Prentice Hall. ISBN 978-0273622017
External links
- FT.com Official website. Retrieved April 25, 2007.
Credits
New World Encyclopedia writers and editors rewrote and completed the Wikipedia article in accordance with New World Encyclopedia standards. This article abides by terms of the Creative Commons CC-by-sa 3.0 License (CC-by-sa), which may be used and disseminated with proper attribution. Credit is due under the terms of this license that can reference both the New World Encyclopedia contributors and the selfless volunteer contributors of the Wikimedia Foundation. To cite this article click here for a list of acceptable citing formats.The history of earlier contributions by wikipedians is accessible to researchers here:
The history of this article since it was imported to New World Encyclopedia:
Note: Some restrictions may apply to use of individual images which are separately licensed.
