Newly merged global news group Thomson Reuters has said its work on integrating the two companies is ahead of schedule and has saved more than £350m so far.

The company, formed last year from the merger of Canadian news provider Thomson and London-based Reuters, said the cost savings that arose provided a ‘self-help lever’that would help the group weather the economic downturn.

Chief executive Tom Glocer told investors in a conference call this afternoon: ‘Professional businesses are not immune to the economic cycle, but we have a range of self-help levers to pull.