Staples Selling Its European Stakes

Staples has announced that it will be selling a controlling stake in its European business to the private equity firm Cerberus Capital Management LP. They will sell it for 50 million euros ($53.65 million). The European unit for Staples includes retail, contract and online businesses that are in 16 countries. They generate an annual sale of approximately 1.7 billion euros.

Staples plans to retain a 15% stake in the European business. This deal follows on the heels of Office Depot, which has also said that it is selling its European operations to Aurelius Group.

Staples expects to complete its European sale during the first quarter of its fiscal year beginning February 2017.

Read more details here.

Growing Trade Outside the EU Block after Brexit

The Food and Drink Federation recently showed a surprising trend in trade. There was a quarterly surge in trade outside of the EU, and it was more than double the 9.6% increase in food and drink exports to markets inside the EU. Exports included British chocolates, salmon, cheeses and wheat with America leading the way as the biggest non-EU market for such items.

The same is true for Latin America, where business executives like Glen Wakeman and Paulo Maia  conduct some of their work.  The region is starting to show signs of economic recovery along with an escalated about of exports, according tot he most recent twice-yearly World Bank report on Latin America and the Caribbean entitled, “The Big Switch: Restoring Growth through Trade.”

Exports to China have also surged. As the director-general of the FDF said, “It is very pleasing to see non-EU exports performing beyond expectations, with UK firms taking advantage of increased competitiveness following the currency changes since the summer.”

The EU actually accounts for about 71.5% of food exports. Ireland leads the way, followed by France, the Netherlands, Germany and Spain. The Government hopes to increase food exports to £6billion by 2020.

Best MBA Programs for Entrepreneurs

If you’re a budding entrepreneur, you just might want to move to Spain to complete your MBA. Analysis of full-time and executive MBA alumni who graduated in 2013 from ranked schools shows that Spanish MBA programs are some of the best for entrepreneurs. In June, FT published a list of the top full-time MBA programs for entrepreneurs with different results. This list was dominated by American schools and held the top seven spots. However, when looking at the actual graduates and viewing who set up their own companies after graduating, Spain wins. Switzerland came in second and the US schools came in third.

Read the details and learn more.

Eastern European News

Staples Selling Its European Stakes

Staples has announced that it will be selling a controlling stake in its European business to the private equity firm Cerberus Capital Management LP. They will sell it for 50 million euros ($53.65 million). The European unit for Staples includes retail, contract and online businesses that are in 16 countries. They generate an annual sale of approximately 1.7 billion euros.

Staples plans to retain a 15% stake in the European business. This deal follows on the heels of Office Depot, which has also said that it is selling its European operations to Aurelius Group.

Staples expects to complete its European sale during the first quarter of its fiscal year beginning February 2017.

Read more details here.

Women Filling Freelance Jobs Across the EU

According to new research from IPSE, a body that represents self-employed people, women are taking over the freelance jobs across the EU. Today, there are 9.6 million independent professionals who work in the EU. This is 1.9 million more than in 2008 and out of this, freelancers account for almost 30% of all self-employed people. They make up a total of 4% of the EU workforce.

As Kelly Gilmour-Grassam, the founder of the copywriting business Making Your Content and IPSE Freelancer of the Year for 2015 said, “As home working becomes increasingly viable and the digital world makes starting a business ever easier, it’s no wonder more women are choosing to become freelancers.”