Reuters strengthens its Net commitment

NEWS Reuters have announced their intention to set-up a new division to invest in Internet and ecommerce initiatives. The division will be called Reuters Ventures and will aim to penetrate corporate markets outside the finance sector. The company's commitment to the Internet has been reinforced by the appointment of David Ure at a board-level position to take strategic control of Web ventures. A spokesman for Reuters said that the board felt the time has come for a board-level approach to the company's entire Internet strategy in an attempt to take advantage of new markets and reach wider audiences. Reuters Ventures will be headed up by Jeremy Penn, who will work closely with David Ure when they take up their positions in the new year.