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Thomson Reuters expects higher 2018 costs, shares drop


By Jessica Toonkel(Reuters) - Thomson Reuters Corp forecast its corporate costs would more than double for the year but revenue would only increase modestly. The prediction sent shares of the news and information company down 4 percent as investors fretted about earnings growth after it completes a plan to sell a majority stake in its largest unit. The company expects $500 million to $600 million in corporate costs this year for tech investments and "right-sizing some areas of the organisation," Chief Financial Officer Stephane Bello told analysts on a conference call after reporting ...

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First Published: Fri, May 11 2018. 23:46 IST