Their job is to cover US financial news.

And they are working overnight so that they can report company news live as it happens on the New York Stock Exchange - from India.

Cost savings

But why in the world is Reuters covering Wall Street from Bangalore?

In a word: salaries.

These Indian financial journalists can be employed by Reuters for a fraction of the cost of employing a journalist at their New York office.

Reuters Editor-in-Chief, David Schlesinger, says that the move meant that they could broaden their coverage of US companies without incurring crippling costs.

He was able to hire 100 new journalists in Bangalore without in any way reducing the size of his New York office.

"Now we can send our New York journalists out to do more interesting stories. This is good for our business and good for journalism," he told the BBC.

And some other wire services are now following Reuters' lead and beating a path to Bangalore, according to local journalists.

But Mr Schlesinger insists that this is not outsourcing.

"Bangalore is a Reuters bureau like any other in the world. And Reuters journalists there work to the standards as Reuters journalists anywhere."

Continued.....

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