With the current economic climate and the experts warning us that there is no real end in sight and things are likely to get worse before they get better, it is highly unlikely that we are going to see the emergence of the number of new markets that we saw in 2011. That said, there are always surprises in the world of finance, and there are early indicators that a few could be on the cards.
TalkTalk and its UK subsidiary Tiscali UK have been slapped with a £3m fine from Ofcom for inaccurately billing around 65,000 customers for services that they did not actually receive. The regulator told the firm that the large fine was handed out in an effort to show TalkTalk just how serious their billing mishap was. To date, the fine is the largest that Ofcom has handed out to any company. TalkTalk expressed disappointment in the size of the fine stating that it was the result of purchasing the Tiscali UK branch and not purposefully done.
The weekend was pretty good for Lenovo execs as the company revealed its Q1 earnings report that shows almost a doubling in profits on their oversees clubs not to mention a handful of other great profit reports as well. In fact, the revenues for the company jumped by almost $5.90 billion over the last quarter which comes out to be a 15% increase for the company when compared to the first quarter results of last year. Their global PC sales saw increased growth of 50% jumping up to $108m from just $54.9m during the 2010.