Business Week has herladed Microsoft as the second best global brand in its listings. Microsoft has a brand value of $58.709 billion dollars and BusinessWeek noted that the launch of Windows Vista as well the Xbox has put technology directly in the hands of consumers. Coca-Cola topped the 2007 list with a brand value of $65.425 billion (USD).

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The list, which will be published in Business Week's August 6 issue, pegs Coca-Cola's 2007 brand value at about 65.324 billion U.S. dollars.

But the magazine also warned that consumers' shift from Soda in the West has hurt Coke and the success with Coke Zero has not made up for the company's continued loss of share.

Software giant Microsoft was pushed aside at No. 2 spot with brand value of 58.709 billion dollars. The magazines said the launch of the Windows Vista operating system, coupled with the Xbox game console, has kept Microsoft latest technology in front of consumers.