Bloomberg Global Business and Financial Journalism Education Initiative Advancing Business and Financial Journalism Around the World

Adv ancingBusiness a ndFin ancialJourn alismAround the World 1 INTRODUCTION

Information has the power to transform economies. From reliable data to accurate reporting, access to information plays a critical role in promoting transparency and accountability — ultimately helping to advance markets, inspire new investment and encourage economic development. It was based on these beliefs that Bloomberg was founded over 35 years ago. Global customers rely on us to deliver accurate, real-time business and market-moving information that helps them make critical financial decisions.

Timely and accurate reporting of business and financial matters play a critical role in advancing efficient markets and is a key driver in supporting economic and social growth. With this in mind, Mike Bloomberg and Matt Winkler created Bloomberg News in 1990. One of the world’s leading financial news organizations today, Bloomberg News has over 2,700 journalists and analysts producing roughly 5,000 stories a day from more than 120 countries. More than 330,000 Terminal subscribers, who are among the most influential people in business and finance in the world, have access to the market-moving stories from Bloomberg News.

The Corporate Philanthropy team in partnership with Bloomberg News created the company’s Bloomberg Global Business and Financial Journalism Education Initiative with the aim of advancing business journalism worldwide and providing career opportunities in journalism for students and journalists from diverse backgrounds. Working in partnership with philanthropic organizations and academic institutions, the program supports a wide range of global initiatives centered on reporting about the world’s financial markets and economies. With support from Bloomberg Philanthropies and other international funders, Bloomberg Global Business and Financial Journalism Education Initiative furthers the corporate philanthropic mission to give back to the cities in which we live and work, using the expertise of our employees and resources of our business to create lasting impact.

Introduction 2 Tom Contiliano established a one- HISTORY week business journalism training program with the University of North Carolina, and University of California, Berkeley.

In 2017, the Bloomberg-Asian College of Journalism program Beginning in 2003, the Bloomberg Global Business began in Chennai, India. Financial Journalism Training Program today includes 29 initiatives across the globe focused 2018 on advancing financial journalism. Bloomberg’s In 2018, the Bloomberg-MiSK financial journalism training programs include post-graduate Master’s Degree program began in Dubai, UAE. in Business Journalism, a six-month post-graduate

Executive Training Program in business and financial 2019 reporting, community based programs to introduce With the success of the business students to careers in journalism, and a one-week journalism programs in China, immersive course in business reporting. Course Africa and the United States, materials include The Bloomberg Way, A Guide for by 2019, Bloomberg’s business journalism training programs Journalists, and the Bloomberg Terminal. had expanded to 18 countries, including Zambia, Ghana, 2003 2014 Tanzania, Senegal, Cote d’Ivoire, Saudi Arabia, and Abu Dhabi. In 2003, Bloomberg News’ Tom In 2014, to increase the number Contiliano launched a program of skilled financial journalists In 2019, Bloomberg established at select U.S. universities to train and analyst, embracing a data- a one-week business journalism students on the Bloomberg driven journalism culture, training program in London with Terminal. The program started Mike Bloomberg announced the University of North Carolina in North Carolina, California, the Bloomberg Media Initiative and City University. Missouri and Ohio. The following Africa in three countries, South year, four more universities were Africa, Kenya and Nigeria. added in New York, Washington, Virginia and Arizona. 2016

Bloomberg and Fudan University 2007 in Shanghai initiated a program in In 2007, Bloomberg News co- the journalism school that includes founder, and Editor in Chief Matt a 12-terminal lab, for-credit Winkler and Bloomberg News classes, workshops and an intern/ reporter Lee Miller established the mentoring project. first Bloomberg business training program, a post-graduate degree 2017 program, in partnership with Tsinghua University in China to In 2017, to address the lack develop a generation of business- of under-represented students literate journalists to cover China, pursuing careers in business international markets and finance. journalism, Matt Winkler and

History 3 TRAINING PROGRAMS BACKGROUND

With the goal of strengthening business and economic news coverage, expanding training programs for journalists and providing greater access to reliable data, the Bloomberg Global Business and Financial Journalism Education Initiative covers three key areas:

ACADEMIC UNIVERSITY- IMMERSIVE COMMUNITY PROGRAMMING AFFILIATED PROGRAMMING PROGRAMMING • Education and employability • Curriculum is jointly developed • Bloomberg-designed initiatives with a journalism and delivered between academic curriculum or focus with school age students Bloomberg News journalists skills training programs • Implemented in partnership and partner institutions, • Programs are delivered with non-profit partners generally universities by Bloomberg News • Bloomberg’s support includes • Emphasis on financial markets journalists on campus or funding, mentoring, skills news and data-driven reporting within Bloomberg offices training opportunities, technical • Participants are accredited • Potential internship assistance, and evaluation with program certification opportunities with Bloomberg • Length of programming and or master’s degree • Programs are typically engagement varies by program • Potential internship and/or 1 week long employment opportunities with Bloomberg

• Programs run between 6 months to 3 years

• Bloomberg Terminal Labs or free limited trials are available to students

Training Programs Background 4 PARTNERS & TRAINING PROGRAM DETAILS

Bloomberg Global Business and Financial Journalism Education Programs focus on areas with the greatest opportunity.

Partners & Training Program Details 5 GLOBAL BUSINESS AND FINANCIAL JOURNALISM EDUCATION INITIATIVE BY THE NUMBERS, AS OF 2019

29 18 9 JOURNALISM EDUCATIONAL NON-PROFIT PARTNERS PROGRAMS PARTNERS THROUGH STARTUP 3 111 23 TERMINAL VOLUNTEERS HIRES LABS 19 106 18 COUNTRIES INTERNS EDUCATIONAL PARTNERS RECEIVING TERMINAL CURRICULUM TRAINING 988 STUDENTS

PBaLOOMrtnersBERG & T GLOrainingBAL B ProgrUSINESSam A NDDet FaINilsA NCIAL JOURNALISM EDUCATION INITIATIVE 6 ACADEMIC/UNIVERSITY-AFFILIATED PROGRAMMING

THE UNIVERSITY OF ZAMBIA

GHANA INSTITUTE OF JOURNALISM Specialised University for Communications

IMMERSIVE PROGRAMMING

COMMUNITY PROGRAMMING

Bloomberg Startup

Partners & Training Program Details 7 • Encourage Bloomberg PARTNERS staff to volunteer as Tsinghua University, International mentors and teachers at Center for Journalists (ICFJ), China’s top universities Communication University of China, UIBE, Schwarzman Scholars, SEM PROGRAM OVERVIEW

GBJ is a specialized graduate- FUNDING degree program in the School TSINGHUA UNIVERSITY of Journalism and Communication. $165,000 per year per school; Bloomberg staff teach semester- Bloomberg also provides staff GLOBAL BUSINESS length courses for graduate and member as a professor on the JOURNALISM undergrad students, and host Tsinghua faculty PROGRAM (GBJ) workshops and Bloomberg Lecture Series. Bloomberg offers outreach AND BLOOMBERG LAB OUTCOMES TO DATE in conjunction with Tsinghua to 7 partner colleges in Greater China • 359 GBJ students have graduated with M.A. degrees LOCATION since 2009, representing every DEGREES Beijing Chinese province and 31 nations M.A. in Journalism and • 470 Tsinghua undergraduates Communication for GBJ; B.A. in PROGRAM LEAD have graduated with Journalism and Communication; bachelor degrees having Lee Miller Bloomberg Market Concepts completed the Introduction (BMC) Certification to News Writing course GOALS • 175 students participated CORE COURSES • Develop a generation of in the internship/mentoring (FULL SEMESTER) business-literate journalists competition in Beijing, since 2017 to cover China, international Bloomberg develops financial • 120 anchors and producers from markets and finance and data-journalism courses, China’s official CCTV service plus workshops, within the • Build a China and global were trained in 2018 a two-day Tsinghua University semester- alumni network of journalists, Bloomberg/Tsinghua workshop based curriculum. Data-Mining for media specialists and Journalists, Corporate Strategies, • 75 Tsinghua graduate students finance professionals Introduction to News Writing, have earned Bloomberg • Provide students, especially Bloomberg Market Concepts Market Concepts certification from China and emerging- • 40 Bloomberg Beijing markets, with intern, apprentice STUDENT REQUIREMENTS staff volunteered in OB B- and mentor opportunities sponsored activities in 2019 All students are full-time at • Increase gender, ethnic Tsinghua or partner universities • 10 GBJ graduates have and cultural diversity and been hired by Bloomberg awareness on campus and and Bloomberg media in the China’s newsrooms INTERNSHIP/MENTORSHIPS partners, 80% are women • Showcase The Bloomberg 11 summer interns (73% women); • Tsinghua added 2 Way, Bloomberg Terminal Mentoring to more than 40 students Bloomberg Terminal Labs and BMC Certification at its business schools in • Recruit staff for Bloomberg addition to the GBJ Lab and Bloomberg-partner media

Partners & Training Program Details 8 • Encourage Bloomberg OUTCOMES TO DATE staff to volunteer as • 97 Fudan students have mentors and teachers participated in the intern/ at China’s top universities mentoring competition since 2017; women have PROGRAM OVERVIEW been two-thirds of applicants Bloomberg developed a semester- • 64 students have length course to engage and completed the full-semester FUDAN UNIVERSITY support the journalism school’s “Financial Journalism 12-terminal Bloomberg Lab Best Practices” course BLOOMBERG LAB AND • 58 students have earned “FINANCIAL JOURNALISM DEGREE BEST PRACTICES” Bloomberg Market M.A. in Journalism and Concepts certification Communication; B.A. in • 12 Bloomberg Shanghai Journalism and Communication, staff volunteered in OB B- Bloomberg Market Concepts LOCATION sponsored activities in 2019 (BMC) Certification Shanghai • The first winner of the inaugural (2017) internship competition CORE COURSES was hired by Bloomberg PROGRAM LEAD “Financial Journalism Best after graduation in 2018 Lee Miller Practices” is taught jointly by • Fudan added 2 Bloomberg Bloomberg journalists and a Terminal Labs at its Fudan faculty to undergraduate GOALS management and business students. Bloomberg senior schools after installing the • Develop a generation of journalist host workshops on ethics lab in the journalism school business-literate journalists and standards, feature writing, to cover China, international diversity and career opportunities markets and finance

• Build a China alumni network STUDENT REQUIREMENTS of journalists, media specialists Full-time and finance professionals

• Provide students with INTERNSHIP/MENTORSHIPS intern, apprentice and mentor opportunities The winner of data-journalism competition held since 2017 works • Increase gender, ethnic as the Shanghai bureau intern and cultural diversity and awareness on campus and in the China’s newsrooms PARTNERS

• Showcase The Bloomberg Fudan University Way, Bloomberg Terminal and BMC Certification FUNDING • Recruit staff for Bloomberg Bloomberg provides a and Bloomberg-partner media part-time professor and at least five guest lecturers

Partners & Training Program Details 9 • Build Brand Awareness OUTCOMES TO DATE

• Engage Bloomberg volunteers Course Completion: 652; 42% female 11 Hires; BOB Volunteers: 12

PROGRAM OVERVIEW MONITORING AND 6-month post-graduate executive EVALUATION course in financial journalism Khulisa Management Service BLOOMBERG MEDIA DEGREE INITIATIVE AFRICA TERMINAL TRAINING Certificate of Completion FINANCIAL JOURNALISM 800

TRAINING PROGRAM COURSE OUTLINE

Case Studies

LOCATION CORE COURSES

Accra, Johannesburg, Lagos, Media Landscape, Financial Lusaka, Nairobi, Dar es Salaam, Journalism, Financial Markets, Abidjan, and Dakar Economics, Data Analysis & Interpretation, Finance & Accounting, Public Policy PROGRAM LEADS

Erana Stennett, Aguil Deng ENTRY REQUIREMENTS

Undergraduate degree and 3 years PURPOSE work experience in journalism or a • Increase the pipeline of related field skilled financial journalists and analysts, embracing a PARTNERS data-driven journalism culture South Africa: GIBS & Rhodes; Kenya: • Promote the “Bloomberg Way” SBS & University of Nairobi; Nigeria: of business and economic LBS & UNILAG; Ghana: UGBS & GIJ; reporting across Africa Zambia: UNILUA & UNZA; • Build relationships with key leaders in education, business, COUNTRIES REPRESENTED government, civil society and the investment community 13

• Promote the link between market transparency, FUNDING accountability and Approximately $22,000 per economic growth delegate. The Ford Foundation, • Increase gender and Stavros Niarchos Foundation ethnic (in South Africa) and Bloomberg Philanthropies diversity in journalism fund the program.

• Increase brand awareness

Partners & Training Program Details 10 CORE COURSES

How to Cover a Business Story – from Financial Markets and Economic Releases to Companies, Government and Policy – for Print, Digital, and Television Audiences

ENTRY REQUIREMENTS ASIAN COLLEGE OF JOURNALISM Graduate in any discipline

INTERNSHIPS

Bloomberg

PARTNERS LOCATION Asian College of Journalism Chennai, India (12 terminal lab)

PROGRAM LEAD FUNDING

Cherian Thomas Revenue from Bloomberg Terminals. Student tuition.

PURPOSE OUTCOMES TO DATE To bring the future of financial journalism to India using the Completed two years of the course combined network of Bloomberg in May 2019. All 37 students who and the Asian College of Journalism enrolled for the program have graduated. Six students interned with Bloomberg. Three of the PROGRAM OVERVIEW interns have been converted as 10-month Business and Financial full-time employees. Bloomberg Journalism volunteers: 20.

DEGREE MONITORING & EVALUATION

Asian College of Journalism- Employment Placement Bloomberg Postgraduate Diploma

COURSE OUTLINE

Bloomberg offers 10 weeks of training at one week every month. The sessions involve lectures, drills and end-of-week tests. ACJ staff and journalists from Indian media groups teach the other weeks

Partners & Training Program Details 11 DEGREE OUTCOMES TO DATE

No degree is offered 100% conversion rate for participants considering a career in business journalism COURSE OUTLINE

The cohort is led through a series of lessons and exercises focusing on journalism, finance and career BLOOMBERG-UNC- development. The students BERKELEY BUSINESS develop a wide network with JOURNALISM alumni of the program, academics DIVERSITY PROGRAM and staff at a world-class university, and Bloomberg personnel.

CORE COURSES

Story development, financial LOCATION literacy, career preparation, Chapel Hill, NC, Berkeley, CA multiplatform storytelling and Bloomberg offices in New York, London and San Francisco ENTRY REQUIREMENTS

Completed at least two years PROGRAM LEADS of undergraduate work, genuine Tom Contiliano & Sasha Graff interest in financial journalism and a preference for those from underrepresented sections of GOALS the population. Student selected • To address the dearth of by the host school. minority students heading into business journalism INTERNSHIPS • To increase financial literacy Seven graduates of the program • To explore a new career path have successfully completed and prepare students for a internships at Bloomberg. Four are high-pressure work environment employed in the New York office.

• To utilize and showcase the Bloomberg Way PARTNERS

University of North Carolina PROGRAM OVERVIEW Chapel Hill, University of California at Berkeley, and City University of One-week program is based on London a collaboration with a partner university. Co-hosted on campus and in Bloomberg bureau. Students FUNDING from schools all over the world $50,000 per year per class apply for expenses-paid training.

Partners & Training Program Details 12 PROGRAM OVERVIEW FUNDING

One-week program hosted $15,000 per class. at Bloomberg’s Dubai bureau, focused on the fundamentals of OUTCOMES TO DATE data-driven business journalism 82 students trained in four classes in 2018 and 2019. Four Bloomberg DEGREE interns to date. Besides internships, BLOOMBERG-MISK No degree is offered; certificate of numerous students credit this FINANCIAL JOURNALISM completion presented on final day course with directly helping them TRAINING PROGRAM obtain jobs. COURSE OUTLINE

The cohort is led through a series of lessons and exercises focusing on journalism, finance and career development, with a focus on topics LOCATION pertinent to the Middle East. The Bloomberg Newsroom in students develop a wide network Dubai, UAE of fellow students/journalists and build lasting relationships with Bloomberg journalists. PROGRAM LEADS

Riad Hamade, Seth Green, CORE COURSES Paul Addison Story development, financial literacy, career preparation, GOALS multiplatform storytelling • Provide Saudi students interested in journalism ENTRY REQUIREMENTS an opportunity to explore the career path Completed at least two years of undergraduate work, genuine • Enhance the pipeline of interest in journalism, and English Saudi journalists embracing fluency. Students narrowed down a transparent, data-driven by partner and final selections approach to financial reporting done by Bloomberg. • Provide Saudi students with hands-on news experience and INTERNSHIPS build financial literacy to help them increase their employability Four students have participated in internships at Bloomberg. Two • Build Bloomberg’s brand and received job offers, one of which exposure within the region plans to join. • Support and help grow our relationship with the PARTNERS Misk Foundation Misk Foundation

Partners & Training Program Details 13 • Internships offered PARTNERS to selected students Wits University • Opportunity for mentoring with Bureau staff FUNDING • Opportunity for Bloomberg $12,000 per year News employees to teach Bloomberg Startup modules OUTCOMES TO DATE BLOOMBERG-WITS UNIVERSITY DEGREE Since 2014, ten interns have been given the opportunity to work Yes, awarded by the university at Bloomberg News. Of these to students who have completed students, one is employed full- the course. time by Bloomberg News and others have gone on to roles at COURSE OUTLINE publications such as the Business Times, the UN and Business Day. LOCATION Wits Journalism School takes up to 24 entry-level students Wits University in Johannesburg each year into a BA Hons 1 year and the Bloomberg Newsroom post-graduate program. The degree aims to give students a PROGRAM LEADS solid practical grounding, as well as a critical understanding of 21st Sabrina Briefel & century journalism. Eleanor Whitehead

CORE COURSES GOALS Key modules include: journalism • Provide opportunities for practice; journalism studies; video, students from disadvantaged radio or photo journalism; in depth backgrounds to gain skills in reporting; and financial journalism. business and financial journalism

• Support the business with ENTRY REQUIREMENTS a pipeline of diverse talent Those interning with Bloomberg • Offer students internship News are carefully selected by and mentoring opportunities Bloomberg. Generally, students • Enhance Bloomberg’s in the program require a minimum brand and reputation in the 65% in the third year of their region, and contribute to the first degree, a written test of company’s Black Economic their language, analytical and Empowerment (BEE) Score general knowledge skills, and pass an interview.

PROGRAM OVERVIEW INTERNSHIPS • Financial support for student bursaries Usually 2 per year

Partners & Training Program Details 14 DEGREE PARTNERS

No degree is offered. Ark, BAYCAT, Junior Achievement, Bloomberg Media Development Foundation, Media Trust, National Council CORE COURSES Startup for the Training of Journalists, Bloomberg Startup offers a series News Literacy Project, of Journalism programs and Room to Read, Teach First, News-related modules and Startup Partner Schools LOCATIONS activities year round.

Bangkok, Beijing, Chennai, Hong Kong, London, Melbourne, ENTRY REQUIREMENTS New Dehli, New York, Student participating San Francisco, Shanghai, in a program organized Singapore, Taipei, Tokyo by a Bloomberg Startup partner.

PROGRAM LEADS INTERNSHIPS Becca Diefenbach, Sandi Liu, We offer internships through Eleanor Whitehead University partnerships in Beijing and Shanghai. GOALS

• Work with students from diverse FUNDING backgrounds to introduce them We support our programs to careers that they may not in collaboration with our have previously considered, Startup partners. including Journalism.

• Share the experience and OUTCOMES TO DATE knowledge of Bloomberg journalists with students • 988 Students participating in interested in news and media. Startup News projects in 2019

• 717 hours employees PROGRAM OVERVIEW volunteered for Startup News projects in 2019 Bloomberg Startup is a youth- focused mentoring program, • 111 employees who volunteered inspiring the next generation in Startup News projects in 2019 of leaders by providing targeted • 40 Startup News projects support for academic achievement offered in 2019 and career success. In partnership with a wide network of education • 9 non-profit partners in 2019 non-profits, Startup connects talented young people with Bloomberg’s employees, expertise and opportunities in offices around the world.

Partners & Training Program Details 15 ADDITIONAL PROGRAM-LEVEL DETAILS

CURRICULUM CURRICULUM JOINTLY DESIGNED AND DESIGNED AND CERTIFICATE/DEGREE TERM TERMINAL LABS DELIVERED BY DELIVERED WITH PROGRAM BLOOMBERG PARTNER

TSINGHUA UNIVERSITY GLOBAL BUSINESS 2 years JOURNALISM PROGRAM

FUDAN UNIVERSITY 1 academic year

BLOOMBERG MEDIA 6 months INITIATIVE AFRICA

ASIAN COLLEGE OF 10 months JOURNALISM INDIA

UNIVERSITY OF NORTH CAROLINA 1 week workshop SCHOOL OF MEDIA

UNIVERSITY OF NORTH CAROLINA 1 week workshop CITY PROGRAM

UNIVERSITY OF 1 week workshop CALIFORNIA-BERKELEY

FINANCIAL JOURNALISM TRAINING, UAE – 1 week workshop PARTNERSHIP WITH MISK FOUNDATION

WITS UNIVERSITY 1 year

Year-round mentoring BLOOMBERG STARTUP (journalism modules)

Partners & Training Program Details 16 ADDITIONAL PROGRAM-LEVEL DETAILS

INTERNSHIP/ FINANCIAL FUNDING EMPLOYEE VOLUNTEERISM EMPLOYMENT TERMINAL TRAINING (BLOOMBERG – (MENTORING, SHADOWING) OPPORTUNITIES FINANCIAL/IN-KIND)

TSINGHUA UNIVERSITY GLOBAL BUSINESS JOURNALISM PROGRAM

FUDAN UNIVERSITY

BLOOMBERG MEDIA INITIATIVE AFRICA

ASIAN COLLEGE OF JOURNALISM INDIA

UNIVERSITY OF NORTH CAROLINA SCHOOL OF MEDIA

UNIVERSITY OF NORTH CAROLINA CITY PROGRAM

UNIVERSITY OF CALIFORNIA-BERKELEY

FINANCIAL JOURNALISM TRAINING, UAE – PARTNERSHIP WITH MISK FOUNDATION

WITS UNIVERSITY

BLOOMBERG STARTUP

Partners & Training Program Details 17 TEAM

BLOOMBERG TEAM:

CORPORATE PHILANTHROPY

FINANCIAL PRODUCTS

NEWS

UNDERWRITERS:

BLOOMBERG

BLOOMBERG PHILANTHROPIES

WITH SUPPORT FROM:

ASIAN COLLEGE OF JOURNALISM

FORD FOUNDATION

INTERNATIONAL CENTER FOR JOURNALISTS

MISK FOUNDATION

STAVROS NIARCHOS FOUNDATION

Team 18 Team 19