Sydney - The failure of companies to realign their computer systems to combat the socalled millennium bug will force a worldwide recession in 2000, the chairman of the Australian Stock Exchange warned yesterday.
"Based on the progress companies are making, I think the world is headed for a recession in 2000," said Mr Maurice Newman, also chairman of finance house Deutsche Morgan Grenfell.
The millennium bug threatens to crash electronically-controlled systems worldwide when computer clocks click over from 1999 to 2000.
