Feeds

Ballmer on banking crisis: No one is safe

Yeah, cheers Steve

Boost IT visibility and business value

Microsoft boss Steve Ballmer warned today that no company is safe from the financial crisis.

We all knew that of course, but when an ego the size of Ballmer's decides to gulp you know we're really in trouble.

Reuters reports that Ballmer told a news conference in Norway: "I think one has to anticipate that no company is immune to these issues."

"Financial issues are going to affect both business spending and consumer spending, and particularly... spending by the financial services industry."

Ballmer said the impact would be felt in Europe as well as the US. He said: "I have to believe that some of the issues also face the European banks and I trust that the European Central Bank will be as intelligent as it needs to be around that."

He said he hoped the US would have some resolution to the issues, at least in Congress, by the end of the week.

George W Bush said today that the US economy was at a "critical moment". He said he hoped to get an aid package through Congress later this week, and that failure to agree action would have "painful and lasting" consequences.

The FTSE 100 in London is up very slightly today, but exchanges in France and Germany are down again.

Prime minister Gordon Brown is meeting with Bank of England governor Mervyn King and Chancellor Alistair Darling to discuss the crisis.

In the meantime, the US Congress is on holiday.®

Build a business case: developing custom apps

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Gartner critical capabilities for enterprise endpoint backup
Learn why inSync received the highest overall rating from Druva and is the top choice for the mobile workforce.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.