Headquartered in London, Reuter's company initially covered commercial news, serving banks, brokerage houses, and business firms.[5] The first newspaper client to subscribe was the London Morning Advertiser in 1858, and more began to subscribe soon after.[5][6] According to the Encyclopædia Britannica: "the value of Reuters to newspapers lay not only in the financial news it provided but in its ability to be the first to report on stories of international importance."[5] It was the first to report Abraham Lincoln's assassination in Europe, for instance, in 1865.[5][7]