The network, that is still in development and will be launched in the western autumn, was unveiled at Bloomberg Media’s NewFront presentation on Tuesday, following a live interview with Michael Bloomberg and Twitter chief executive Jack Dorsey.
The network is planned to feature user-generated breaking news video from citizens curated and verified by Bloomberg editors, along with live video and reporting from Bloomberg journalists.
The network aims to combine the immediacy of Twitter with Bloomberg's editorial rigour It will be interactive, include plenty of social content and will be consumable on any device.
"With this new network, we are setting out to re-invent the digital breaking news experience. The powerful combination of Bloomberg’s high-quality journalism and data-backed objectivity with Twitter’s global immediacy, interactivity and reach will create the world's fastest and most credible modern news source."
Bloomberg editor-in-chief John Micklethwait added: "This is a great opportunity to extend our global news gathering capabilities to Twitter's 328 million monthly users.
"Combining the journalism, data and editorial rigour of Bloomberg with the social content of Twitter will enable us to cover the world in a very new and exciting way."
Twitter's chief operating officer Anthony Noto said: “The stage is set for innovation in news and Bloomberg is taking on that challenge. Twitter’s speed and vast global network of content and commentary combined with the high quality, editorial rigour of Bloomberg is a unique and powerful combination. Our collaboration will bring these forces together through live video and the related conversation."
Bloomberg Media is the consumer-facing media organisation of Bloomberg LP, the multi-platform media company for business and finance.