First with ECB to end ultra-cheap loans to banks

Reuters was first with one of the most market-sensitive piece of news in Europe on Nov. 5 — ECB President Jean-Claude Trichet’s signal that the central bank would not renew its programme of ultra-cheap 12-month loans to banks after December, a first step to exiting from the emergency steps put in place to prevent economic calamity. Reuters news alerts were about 10 seconds ahead of Bloomberg and even further ahead against Dow Jones. The euro hit session highs versus the dollar on the news.