JPMorgan And Other Banks Plan To Cut Bloomberg Terminals

The consolidation of de-facto power on Wall Street is a nuanced topic, one that is difficult to document or get on the record comments. One of the relatively independent voices on Wall Street, Bloomberg, an elite information provider that has uncovered is share of sensitive and often tradable news behind the scenes, is at risk of losing as much as $2.25 billion of revenue annually as big banks could reduce terminal expenses by 25% over the next three years. The private company is reported to have near $9 billion in revenue and the politically active Michael Bloomberg is reported to…