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REUTERS/Navesh Chitrakar/File PhotoNEW YORK, Aug 9 (Reuters) - Body Art Alliance is exploring options including a sale that could value the supplier of tattoo and body art products at nearly $1 billion, including debt, according to people familiar with the matter. Representatives for Body Art Alliance and Jefferies declined to comment. Body Art Alliance's move to explore a sale comes amid a global surge in the popularity of body art, especially among the younger generation. The company was launched in 2020 by the founders of four body art companies - FK Irons, Painful Pleasures, NeoMetal and World Famous Ink. It is now affiliated with dozens of global brands that sell tattoo and body art products, which include body ink and piercing equipment, to artists and customers.

Persons: Ravan, Navesh, Jefferies, Abigail Summerville, Leslie Adler Organizations: REUTERS, Alliance, Jefferies, Group Inc, Body Art Alliance, FK Irons, Thomson Locations: Kathmandu, Nepal, Hanover , Maryland, U.S, New York

☆ E-cigarette maker Juul Labs seeks $1 bln in funding - Bloomberg News
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage//File PhotoAug 2 (Reuters) - E-cigarette maker Juul Labs is seeking to raise about $1 billion in a fundraising effort, Bloomberg News reported on Wednesday, citing people familiar with the matter. Juul is working with Jefferies Financial Group Inc (JEF.N) for the fundraising, the report said, adding that the e-cigarette manufacturer had about $800 million in revenue in 2022. Juul and Jefferies did not immediately respond to Reuters' request for comment. Reporting by Gursimran Kaur in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Elijah Nouvelage, Juul, Jefferies, Gursimran Kaur, Sonia Cheema Organizations: REUTERS, Juul, Bloomberg, Jefferies, Group Inc, Reuters, Thomson Locations: Atlanta , Georgia, U.S, Marlboro, Altria, Bengaluru

July 10 (Reuters) - Morgan Stanley (MS.N) has hired senior investment banker Marco Caggiano from JPMorgan Chase & Co (JPM.N), where he led the bank's North America mergers and acquisitions (M&A) business, people familiar with the matter said on Monday. Caggiano, a veteran investment banker who spent 23 years with JPMorgan, will join Morgan Stanley as vice chairman of M&A, the sources said. JPMorgan and Morgan Stanley declined to comment. Caggiano trained as a lawyer and worked at Paul Hastings before he joined JPMorgan. He was co-head of North America M&A before Chris Roop, his other co-head, exited JPMorgan last year to join Jefferies Financial Group Inc (JEF.N).

Persons: Morgan Stanley, Marco Caggiano, Caggiano, Elon Musk, Paul Hastings, Chris Roop, Svea Herbst, Bayliss, Anirban Sen, Greg Roumeliotis Organizations: JPMorgan Chase &, JPMorgan, Twitter Inc, Elon, Zynga, Hasbro Inc, Alta Fox, Jefferies Financial Group Inc, Svea, Thomson Locations: America, Rhode Island, New York

☆ Jefferies quarterly profit falls as dealmaking in doldrums
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: 1 min

June 27 (Reuters) - Jefferies Financial Group Inc's (JEF.N) second-quarter profit slumped 89% as subdued dealmaking and a lull in new initial public offerings weighed on its advisory and underwriting fees, the investment bank said on Tuesday. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Jaiveer Singh, Sriraj Organizations: Jefferies, Thomson Locations: Bengaluru

Venkatakrishnan's intervention underscores the pressure that the British bank is under to protect its U.S. investment banking franchise. Venkatakrishnan promised during the meeting to invest in the investment banking business to boost morale, the sources said. Miller left Barclays to join Jefferies last month, while Barclays only announced a new role for Astier this week, naming him global head of financial sponsors. Still, the exodus that Venkatakrishnan and other Barclays executives have been trying to stem has continued apace. But it was its consumer, cards and payments division, rather than investment banking, that led the charge.

Persons: C.S, Venkatakrishnan, dealmakers, Cathal Deasy, Morgan Stanley, Taylor Wright, Marco Valla, Deasy, John Miller, Jean, Francois Astier, Miller, Jefferies, Jim Rossman, Christopher Ludwig, Pete Contrucci, Evan Rothenberg, Daniel Kerstein, Contrucci, Rothenberg, Kerstein, Milana Vinn, Abigail Summerville, David Carnevali, Svea Herbst, Bayliss, Anirban Sen, Greg Roumeliotis, Christopher Cushing Organizations: YORK, Barclays, Citigroup Inc, UBS Group AG, Jefferies Financial Group Inc, Reuters, Credit Suisse Group AG, UBS, Lazard Ltd, Credit Suisse, Svea, Thomson Locations: Americas, Europe, Middle East, Africa, United States, New York, Rhode Island

May 3 (Reuters) - Carl Icahn's empire took another hit on Wednesday when his holding company's shares plunged further in the aftermath of a critical report from short seller Hindenburg Research, bringing the valuation drop since the short seller attacked it to more than $6 billion. IEP shares hit an intraday low of $31.78 - their lowest in more than a decade. The company is now worth $11.5 billion, 35% less than its value on Monday before Hindenburg published its report. The Hindenburg report has wiped $7.5 billion off Icahn's fortune, leaving him with a net worth of $10.8 billion, according to Forbes. “There is a karmic quality to this short report that reinforces the notion of a circle of life and death," he tweeted on Tuesday.

☆ Japan's SMFG boosts U.S. presence via bigger stake in Jefferies
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - Japan's Sumitomo Mitsui Banking Corp (SMBC) said it will combine its U.S. equity and M&A business with Jefferies Financial Group Inc (JEF.N) as part of a deal in which its parent, Sumitomo Mitsui Financial Group (8316.T), will boost its stake in the U.S firm and its presence in the country. Sumitomo Mitsui Financial Group (SMFG) will raise its stake in Jefferies from 4.5% currently to as much as 15%, giving it the right to nominate a member to the U.S. company's board of directors, the companies said in a joint statement on Thursday. Its SMBC Nikko Securities unit, formerly Citigroup Inc's (C.N) Japanese broker and a key investment banking unit that SMFG bought in 2009, has a limited footprint abroad. SMFG's bigger domestic rival, Mitsubishi UFJ Financial Group Inc (8306.T), has boosted its U.S. presence through a $9 billion investment in Morgan Stanley (MS.N) in 2008, which gave MUFG some 20% ownership of the Wall Street bank. The Financial Times first reported the news on SMBC and Jefferies.

☆ Analysis: Bond traders get their swagger back in rate-obsessed markets
▼ + stars: | 2023-01-17 | by ( Lananh Nguyen | ) www.reuters.com time to read: +5 min

REUTERS/Andrew KellyNEW YORK, Jan 17 (Reuters) - Bond traders are stars again on Wall Street. Fixed income, currencies and commodities (FICC) traders bolstered bank profits last year despite dreary deal markets. Bond specialists in the $22 trillion Treasuries market are in high demand as the Federal Reserve and other central banks have aggressively raised interest rates over the past two years. After the financial crisis, central bankers in the United States and advanced economies steadied markets by holding interest rates near zero. On Tradeweb Markets Inc's (TW.O) electronic bond trading platforms, average daily volumes rose almost 10% in 2022.

☆ Cutting Costs, Not Jobs, Is Focus for Many CFOs Facing Slowdown
▼ + stars: | 2022-12-12 | by ( Kristin Broughton | ) www.wsj.com time to read: +6 min

At the same time, many employers are looking for workers, with job openings well above the number of job seekers. That leaves some finance chiefs scouting for savings that don’t involve job cuts, or that supplement layoffs, advisers and analysts said. Other ways to cut costs include exiting leases, reducing the number of suppliers, automating tasks, trimming software spending and finding less expensive components, advisers said. Many companies over the past year have raised prices to keep up with escalating input costs, in addition to trimming expenses. Still, the company’s restaurant-level profit margin during the quarter ended Oct. 2 fell to 16.2% from 20.1% a year earlier.

☆ Foot Locker Searches For a New Finance Chief
▼ + stars: | 2022-11-29 | by ( Kristin Broughton | ) www.wsj.com time to read: +3 min

Foot Locker Inc. is searching for a new finance chief to succeed Andrew Page, who is stepping down from the shoe-store chain as part of a reshuffling of its senior ranks. He was previously chief accounting officer and controller at Advance Auto Parts Inc., a Raleigh, N.C.-based auto parts retailer. He will step down as chief financial officer of Foot Locker early next year. Photo: The Wall Street Journal Foot Locker is working with an executive recruiting firm to identify a successor, the company said. Also, Foot Locker promoted Rosalind Reeves, its vice president of talent, diversity and organization capability, to chief human resources officer, effective Dec. 1.

☆ Buffett's Berkshire discloses big Taiwan Semi stake
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: 1 min

Nov 14 (Reuters) - Berkshire Hathaway Inc (BRKa.N) said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing Co (2330.TW), a rare significant foray into the technology sector by billionaire Warren Buffett's conglomerate. In a Monday regulatory filing describing its U.S.-listed equity investments as of Sept. 30, Berkshire said it owned about 60.1 million of Taiwan Semiconductor's American depositary shares. Berkshire also disclosed new, smaller stakes in building materials company Louisiana-Pacific Corp (LPX.N) and the financial services company Jefferies Financial Group Inc (JEF.N). Reporting by Jonathan Stempel in New York; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Jefferies beats quarterly profit estimates on lift from merchant banking
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

Sept 28 (Reuters) - Jefferies Financial Group Inc (JEF.N) on Wednesday beat analysts' estimates for third-quarter profit as robust performance in its merchant banking unit helped cushion the blow from sluggish dealmaking. The merchant banking division was boosted by the sale of its wood and lumber products business, Idaho Timber, the bank said. The bank said in July it would reduce the size of its merchant banking portfolio that includes investments in real estate, oil and gas, and other public companies as part of a restructuring. After a stellar run in 2021, U.S. investment banking giants have struggled for most of this year as a market sell-off crushes corporate appetite for dealmaking. Register now for FREE unlimited access to Reuters.com RegisterReporting by Niket Nishant in BengaluruOur Standards: The Thomson Reuters Trust Principles.

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