Merrill Lynch, the US investment bank, has denied reports that a $300m (€237m) contract it awarded to Thomson Financial in 2002 is under review. The statement was in response to speculation that Reuters might displace Thomson for the business.

In a joint statement, Merrill and Thomson said: "Contrary to reports regarding the status of a major contract between Merrill Lynch and Thomson, the contract remains firmly in place and the partnership remains as strong as ever."