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Technology Stocks : Discuss Year 2000 Issues

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To: C.K. Houston who wrote (322)	10/26/1997 10:50:00 AM
From: Done, gone.	of 9818

Millennium and EMU will hurt, says Reuters: Excerpt form: sunday-times.co.uk "REUTERS, the news and information group, said it would face a double blow in the next couple of years from the "imperatives" of both the millennium bug and European monetary union. The company said yesterday it was unable to say precisely what the cost would be although it will clearly be significant. Peter Job, chief executive, said in a trading statement for the third quarter that the millennium and EMU were "likely to require significant diversion of effort to upgrade some products and phase out older ones". Although the millennium time bomb will partly be used as an opportunity to introduce new systems, a high proportion of the 400,000 Reuter terminals in the marketplace will require modification. The effect of EMU is less clear cut. Some business will contract, at least in the short-term as some currencies disappear, but there could be an upsurge in trading in the euro against the dollar and other leading currencies."

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