Red-faced Reuters over news scoop

NEWS company Reuters has taken the extraordinary step of apologising for landing a major scoop - and has even disciplined the 'trainee journalist' responsible.

It is keeping his name secret, perhaps to prevent enterprising rivals poaching him.

Two weeks ago, the company's newswire sent markets racing when it revealed strong retail sales figures an hour before the official government release.

This was another political embarrassment for the accident-prone Office of National Statistics - already facing a parliamentary inquiry over previous blunders.

Its incorrect economic growth figures earlier this year were one cause of Thursday's likely interest rate rise.

The ONS leak inquiry concluded that the reporter obtained the data 'from the papers of a Treasury official without that official's knowledge'. The ubiquitous Financial Services Authority is now investigating.

Reuters says: 'The problem lies in that the information was obtained improperly. We have certain ethical rules for the way our journalists behave.' But it adds that there was 'no suggestion of criminal activity'.

In recent years, the 152-year-old company, once a byword for independence, has been badly beaten by rivals. Even this year's market rally leaves its shares, up 3p at 261 1/2p, down 85% from their peak.