What’s Up With Market News International?
“We don’t really know what to think of the Chinese connection. The Chinese premier is in town, now we know who the supreme leader is.”
I’ve been curious about Market News International for a while.
When I first came across them, they were owned by Xinhua Financial, a news agency part-owned by the Chinese government, which immediately raised a red flag.
At the time of their purchase by Xinhua Financial in 2003, one of their own employees told Reuters, “We don’t really know what to think of the Chinese connection. The Chinese premier is in town, now we know who the supreme leader is.”
In 2008, they were sold to Deutsche Boerse, a stock exchange operator, which I think raises some concerns as well because MNI covers the markets (more on that later).
The “editorial” team of MNI is very curious.
From what I see on LinkedIn, most of them don’t even come from a journalism background. The few that did go to J-School seem to have spent their entire careers at MNI, meaning they have little to no professional journalism experience at reputable, well-known publications.
William Sokolis, a journalist at MNI in Chicago, has zero prior journalism experience. He was an equity options trader at SWAT, Refco Securities and Susquehanna Investment Group, according to his LinkedIn profile.
Refco, if you recall, collapsed from accounting fraud.
There’s also Dennis Pettit, a Deputy Bureau Chief in New York, who claims “25+ Years as a currency trader.”
Given the professional and educational backgrounds of MNI’s journalists that is publicly available, I would ask: What are these (former) traders doing as journalists covering the financial markets? What do they know about journalism ethics? Are they still involved in trading? If so, how much disclosure do they provide? While I don’t pretend to know the answer to these questions, the public and MNI’s readership deserves to know.
On the other end of the spectrum are reporters like Sheila Mullan, who graduated from J-School and spent her entire career at MNI. Wonder how much she could have learned about journalism there.
Does anyone know anything about MNI? Drop me an email at email@example.com . I would love more info.