Financial markets feel the impact of an outage at news and data provider Bloomberg. Kirsty Basset reports.
Thousands of investors around the world felt the impact of an outage at news and data provider Bloomberg. Screens went blank for almost two hours on Friday morning, limiting access to prices and trading tools. Mike Ingram from BGC Partners said the outage was felt around the city. (SOUNDBITE) (ENGLISH) BGC PARTNERS ANALYST MIKE INGRAM SAYING: "What happens if you're in the middle of a trade? Suddenly you're flying blind. So I can see how this problem that we've had with Bloomberg has caused real problems, and it'll be interesting to see what the financial ramifications of it turn out to be. I would imagine a number of financial institutions are going to be making some pretty hefty claims." While service was later restored to most customers, a 3 billion pound British Treasury Bill sale was postponed as a result. But CMC Market Analyst Michael Hewson said it could have been worse. (SOUNDBITE) (ENGLISH) CMC MARKET ANALYST MICHAEL HEWSON SAYING: "I think it's fortunate it's not on a particularly busy day. I think if it had been on a particularly busy day maybe the impact would have been greater." Bloomberg, a competitor with Thomson Reuters in financial news and information, says the outage was caused by an internal network issue.