Y2K bug bites Europe

 

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Europe feels the millennium bug's bite as U.K. firms score low on compliance and decreased computer and software sales cause a slump in European technology stocks. "We are probably now beginning to see the effect of the Y2K problem on PC purchases [in the United Kingdom] by corporate buyers." - Jeremy Davies, senior partner at Context

One in three U.K. firms already bitten by Y2K bug A survey reports 31 percent of Britain's top 1,000 companies have already been hit by Y2K-related problems. Y2K concerns cause drop in U.K. business PC sales Third-quarter sales of personal computers for business use in the U.K. are down 13 percent due to concern over potential problems with the Year 2000 transition. Y2K hype hammers at Europe's tech stocks Fears that Y2K issues will impair information technology spending deals a sharp blow to European tech shares today, but major investors say the sector's prospects are undimmed.