by CIO UK Staff

Starbucks recovery brews up…Sky told to sell ITV shares…Morrisons outsells rival supermarkets…Lloyds job cuts

Jan 20, 2010
Financial Services IndustryIT LeadershipIT Strategy

Coffee house chain Starbuckscontinues to brew a recovery, reporting today that in the last quarter its profits tripled, achieving a net profit of £148 million in the three months to December 2009. The Seattle based corporation has been undergoing a significant cost cutting agenda and marketing to win back customers. Starbucks CIO slideshow demonstrates how he understands the business Starbucks recovery is in the mix Full interview with the CIO of Starbucks

Rupert Murdoch owned broadcaster Sky has been ordered by the court of appeal to reduce its stake in national broadcaster ITV. Sky, part of the same company as the Times and Sun newspapers, must not hold a stake in ITV of more than 7.5 per cent and it cannot appeal to the supreme court, the company heard today. SkyB” href=””>CIO 100 ranked BSkyB, bought 696m shares in ITV in November 2006 when the corporation owned by the Australian tried to block a takeover of ITV by Richard Branson’s Virgin Media. ITV CIO has the strategy for recovery Sky to sell its ITV stake at a loss” href=””>Courts force Sky to sell its ITV stake at a loss

Morrisons had an even better Christmas than rivals Tesco, Sainsbury and Asda, the Yorkshire based supermarket chain said today. In the six weeks to January 3, 2009 sales were up by 6.5 per cent.

Morrisons beat rivals in Christmas rush CIO strategy of supermarket giants Morrisons Lloyds joined the Irish division of RBS today in announcing job cuts, revealing that 585 staff will lose their roles at the bank’s Black Horse personal loans centre. Trade union Unite told the BBC that it was “deeply disappointed”. Lloyds merged with HBOS in 2008 when HBOS got itself into difficulties during the credit crisis. Lloyds CIO 100 profile Job cuts at Lloyds personal loan centre