US banking crisis hits IT industry - PC Magazine

US banking crisis hits IT industry - PC Magazine: "Shares in Cisco Systems fell more than nine per cent in after-hours trading on Wednesday, fuelling concern that the financial crisis in US banks could limit IT spending. The sub-prime mortgage has hit major US banks, which are among the world's biggest purchasers of IT. As a result, US business growth is expected to remain unpredictable, said Cisco chief executive John Chambers, in a conference call to discuss the group's first quarter results."

Helge: I heard some rumors about the depth of the banking crisis in US. We're still in the beginning of understanding. There is more to come.
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