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  Microsoft CEO sees rough ride in Europe
Time: 05:21 EST/10:21 GMT | News Source: Reuters | Posted By: Alex Harris

Steve Ballmer, chief executive of U.S. software giant Microsoft, said conditions in Europe were "rough" and would remain so until the telecommunications and financial services industries recovered, the FT.com has said. "Those industries have been hit hard and until we see a stabilisation and growth it's fair to say that things will be a little rough on the spending side," Ballmer, who is visiting Europe, was quoted on Sunday as telling the Financial Times.

Ballmer is scheduled to give a presentation in Vienna on Monday morning. Although Microsoft has been hit by the industry's general malaise, and in particular the slowdown in PC sales, it still managed to achieve a 10 percent increase in sales in the year to June 2002 and promised to increase its research and development spending by 20 percent to $5.2 billion in 2003, the FT said.

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