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'Tis the season for gifts, eggnog and, unfortunately, scams targeting parents looking for the perfect gift for their little ones. 141
The owner of Schick razors needs to close the gap with Gillette, its biggest rival. So it's turning to new blood to make that happen.Edgewell Personal Care is buying the upstart razor maker Harry's, the two companies announced Thursday. The deal values Harry's at nearly .4 billion.Harry's started in 2013 and quickly expanded by selling low-priced razors online. Edgewell, meanwhile, owns some of the most established brands in the field — including Schick, which started in 1921. Edgewell also owns Wilkinson Sword, a major European brand that has been making razors since 1898.But Edgewell trails its main rival, Gillette, by a large margin. Gillette is a unit of Procter & Gamble, and accounted for about 10% of that company's .8 billion in revenue — about billion — last year. By comparison, Edgewell reported .2 billion in revenue during its most recent fiscal year.Sales for the first six months of this year fell 7% compared to a year earlier, Edgewell reported Thursday. But CEO Rod Little told investors that the company expects revenue to rise to .7 billion in its first full fiscal year after it acquires Harry's. The deal is expected to close early next year.Little said Edgewell was drawn to Harry's success with building a brand and marketing directly to consumers."We've been talking about it for a while," he said on an earnings call. "And when you look at what Harry's has done, we've looked at that from afar for a long time," he told investors."The deal also could help Harry's cut costs. Despite its success, Little said the business is only approaching the breakeven point this year.Investors didn't immediately embrace the purchase. Shares of Edgewell fell nearly 13% in midday trading Thursday.Harry's founders Andy Katz-Mayfield and Jeff Raider will stay on to run the combined companies' US business. Raider was also one of the founders of the eyeglass maker Warby Parker. The two of them had been friends since college.Harry's is not the first razor startup to be acquired by a more established company.In 2016, Unilever bought 2083

This man is a hero. Twitter please figure out who this guy is so we can reward him. #WorldSeries pic.twitter.com/suMtVECfXY— Bud Light (@budlight) October 28, 2019 175
The Trump administration is making revisions to the naturalization test for the first time in a decade, US Citizenship and Immigration Services announced Friday.The agency is focusing on changes to the civics portion of the test, though there could also be updates to the English section, according to a USCIS official.The announcement comes amid a heated debate over who should be allowed in the country after President Donald Trump targeted progressive congresswomen, telling them to "go back" to where they came from. Three of the four women were born in the US. The other is a naturalized citizen.As of March 2019, the overall national pass rate is 90%. In fiscal year 2018, nearly 757,000 people were naturalized, USCIS says.The citizenship test, which immigrants must pass to become US citizens, was last revised in 2009. It 843
The Senate passed a stop-gap spending bill on Wednesday night in an effort to keep the government funded and prevent a partial shutdown at the end of the week.A shutdown hasn't been averted just yet: The measure will still need to be approved by the House of Representatives and signed by President Donald Trump before it can take effect.But the Senate's passage of the short-term measure brings Washington one step closer to staving off a shutdown of some key federal agencies, set to expire at midnight on Friday, just days before Christmas.The Senate worked late into the night on Wednesday evening to pass the measure, which had appeared to have hit an impasse earlier in the day over a push to advance public lands legislation.Earlier on Wednesday, McConnell introduced the measure which would fund the remaining parts of the government through February 8, 2019.McConnell's proposal has the backing of the top congressional Democratic leaders Nancy Pelosi and Chuck Schumer, and top congressional Republicans have indicated they are optimistic that the President would sign the measure.Senate Majority Whip John Cornyn, the current no. 2 highest-ranking Senate Republican, predicted on Wednesday that Trump would sign it."He will sign a clean CR," Cornyn told CNN.Pelosi, the House Democratic leader who is poised to reclaim the speaker's gavel in the new Congress, said Wednesday afternoon that she supported the measure."This is a missed opportunity to pass full-year funding bills now," Pelosi said in a statement. "However, Democrats will be ready to fully, responsibly fund our government in January, and we will support this continuing resolution."Senate Democratic Leader Chuck Schumer said during a speech on the Senate floor, "Thankfully, President Trump appears to have backed down from his position for billions in direct appropriations for a border wall."Republicans and Democrats on Capitol Hill have made clear they don't want a shutdown, but had been at an impasse over the President's demand for billion in funding for his long-promised wall at the US-Mexico border.Democrats have made clear that figure is a non-starter for them and any spending bill would need at least some Democratic votes to pass in the Senate.Of course, no spending measure is final until the President signs it.But on Tuesday, the White House appeared to step away from the brink of a shutdown.White House press secretary Sarah Sanders said Tuesday morning during an interview with Fox News that, "We have other ways that we can get to that billion (for a border wall)."Members of the conservative House Freedom Caucus and other conservative allies of the President plan to give brief speeches on the House floor Wednesday night, however, urging Trump not to abandon his quest for border wall funding.They include: Mark Meadows of North Carolina, Jim Jordan of Ohio, Paul Gosar of Arizona, Steve Pearce of New Mexico, Jody Hice of Georgia, Ralph Norman of South Carolina, Andy Biggs of Arizona and Morgan Griffith of Virginia.Despite opposition from the Freedom Caucus, however, the House should still have the votes to still pass the continuing resolution, assuming most, if not all, Democrats support it, since it has Pelosi's blessing.But even as members of the Freedom Caucus are poised to urge Trump not to abandon his quest for border wall funding, White House officials say it's likely the President will do just that -- and sign a short-term spending bill to avert a partial government shutdown.The President has been unusually quiet about the issue on Wednesday, holding his tongue as some conservative commentators and lawmakers blast him for abandoning his commitment.But two White House aides said the President likely has no choice but to sign a temporary funding measure to keep the government open until February 8. The aides say the White House is intentionally not signaling what Trump will do, but there does not appear to be talk inside the West Wing of blocking it.White House counselor Kellyanne Conway hinted earlier that Trump is leaning this way when she told reporters at the White House the President will "take a look at" the continuing resolution, though she attempted to frame any punt as something other than a concession from the White House.All this comes a week after the President said he'd be "proud" to shut down the government, so delaying the funding fight until Democrats retake the House next year is a fairly clear concession -- and a risky one. Although Republicans clearly don't have the votes to support his request. 4573
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