The Business Matrix: Tuesday 6 August 2013

BT sports Betfred deal

Telecoms group BT has said its new sport channels will be broadcast in all 1,370 Betfred bookmakers across the UK for the next three years. The group said the deal was its first major commercial contract. BT bought the rights to show 38 live Premier League football games a season, in a bid to take on BSkyB.

Fonterra in China apology

The boss of New Zealand’s biggest dairy exporter, Fonterra, has flown to China to apologise for a botulism scare involving milk powder used in baby milk formula. China and Russia have halted imports of some New Zealand milk products after Theo Spierings admitted the company found potentially harmful bacteria.

Balfour wins housing contract

Balfour Beatty has won a £330m deal to build homes and facilities for students and senior citizens in the US. The group said it has been named preferred bidder on a 10-year mixed-use development contract with the University of West Florida, including student accommodation and housing for retired university staff.

Glencore offloads grain business

Mining and commodities trading giant Glencore Xstrata is selling its grain-handling business Joe White Maltings. The group did not disclose the price of the deal, which will see the Australian subsidiary sold to US commodities group Cargill. The deal is subject to regulatory approvals and is expected to close by the end of the year.

Eye-screening firm bought by Emis

The medical software group Emis has bought an eye-screening firm for £3.1m. Leeds-based Emis said buying Cambridge-based Digital Healthcare, which helps detect diabetic retinopathy, would bolster its presence in the healthcare sector.

Serco wins US contract

Serco today secured a $1.25bn, five-year contract to work on the US’s Medicare and Medicaid services and manage 1,500 staff. This is despite the Obama administration being forced to defend its decision in the aftermath of the outsourcing giant facing a £50m fraud inquiry in the UK.

TCI sets sights on EADS waste

Activist hedge fund TCI has written to EADS’ chief executive demanding the aerospace company sell its stake in Dassault Aviation, the maker of the Rafale fighter jet. TCI, which holds 1 per cent of EADS, said the ¤4bn holding was “a poor use of capital”.

Sberbank eyes $900m profit

Russia’s top lender, Sberbank, is aiming for a profit from international businesses to total $900m this year, according to a transcript of a conversation that its CEO had with President Vladimir Putin. That would exceed the earnings target previously set by the bank.

Veolia sees stabilisation

French water and waste group Veolia yesterday said its main European markets were stabilising, though it was worried a slowdown in Chinese economic growth could hit demand for the paper, cardboard and metals it recycles.

Revlon buys back Colomer

Cosmetics maker Revlon will buy Spanish beauty care company The Colomer Group for $660m, reacquiring a professional products business it sold 13 years ago. The Colomer Group is owned by CVC Capital Partners.