Dow Jones & Co.'s newly installed chief executive of its Telerate unit, Kenneth Burenga, last week outlined his plans for investing $650 million to reinvent Telerate, its floundering financial news and market data unit.
The company hopes to leverage its brand recognition to catch up with, and ultimately leapfrog, its main rivals, Reuters and Bloomberg, in part through deeper penetration into buy-side market segments where it trails Bloomberg in particular.
The money, to be spent over the next
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