News agency Reuters is understood to be considering relocating to Exeter from Tiverton, where it employs around 400 people.

The agency currently has two sites in Tiverton, but is believed to have earmarked Exeter as a possible new home as its current lease expires next year.

Five years ago there were hints of a move to Exeter's Pynes Hill, but falling stock markets worldwide meant Reuters - which provides financial information about companies - was forced to rethink its plans.