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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

TOWSON, Md. — Home videos capture images of Deborah Limmer and her 5-year-old granddaughter, Delaney Gaddis, which now serve as painful reminders of two lives lost, leaving the young girl's father searching for words to describe 241

There has been talk around the country lately of a recession and what to do to prevent it from happening.President Donald Trump has pushed the idea of significantly lowering interest rates.So, what would that mean for the average American? "What it does is it shifts the economic balance of power towards borrowers and away from lenders,” said Miles Kimball, Professor of Economics at the University of Colorado Boulder. “And guess what, people who borrow money are people who are more eager to spend than lenders." This could make getting a loan easier and more affordable.Kimball says if interest rates drop, it encourages people to spend money they've been saving rather than leave it in the bank."All of a sudden you think about a zero percent loan, obviously the economic benefit is huge there," said a new home buyer, Todd.Zillow says the average price of a home is 1,000. With a 3.8% interest rate, a payment would be ,144, but even if the rate dropped to just 1%, it would be 8. Although that sounds amazing, banks would have to charge fees because they would be handing out more money than depositors are putting in. 1146

They're the hallmark of vaping — the massive clouds that sometimes come in different shapes.But how does a little e-liquid become those clouds?We're going inside an e-cigarette to find out.The devices usually have four main parts: a reservoir that holds e-liquid, a battery, a heating element and a mouthpiece.The first step is to add e-liquid to the reservoir or to attach a pre-made cartridge.The liquid is made of nicotine, flavoring, vegetable glycerin and propylene glycol. You’ll find propylene glycol in things like inhalers and fog machines. The U.S. Food and Drug Administration says it’s all safe.Next, the battery warms up the heating element and that vaporizes the e-liquid. The vapor travels through the e-cigarette, out the mouthpiece and into the lungs.When exhaled, the vapor vanishes into the air fairly quickly.The heat is low enough that it doesn't combust — or burn — the liquid.Supporters say vaporizing creates fewer dangerous compounds than combustion.The American Cancer Society says vapor can still contain harmful chemicals or substances, like volatile organic compounds, or VOCs.They cause inflammation and can make the kidneys, liver or nervous system fail.According to the American Cancer Society, vapor can also contain harmful flavoring chemicals and formaldehyde. 1312

The parents of Otto Warmbier, Fred and Cindy Warmbier, will have dinner at the White House on Saturday night with President Donald Trump and Richard Grenell, the US ambassador to Germany, according to two administration sources.Otto Warmbier was an American college student who was held prisoner for 17 months by Pyongyang and died shortly after he was returned home in a comatose state in 2017.It's unclear how Saturday's dinner was planned and whether anyone else will join them. A spokesman for the National Security Council did not provide a comment.Grenell has been in Washington for the last few days and is one of the many contenders eyeing the national security adviser job, the sources say. But this dinner was planned before John Bolton was fired earlier this week.Grenell met with the Warmbiers when they visited Germany in August. He posted a photo of himself with Cindy Warmbier and his own mother on Instagram."Today I introduced Otto Warmbier's mother Cindy to my mom, Judi. Cindy is focused on bringing some justice to her family - and we are ready to help," Grenell wrote in his caption for the photo.After a second summit with Kim Jong Un in Hanoi, Vietnam, earlier this year, Trump said he does not hold the North Korean dictator responsible for Warmbier's death.The Warmbiers rejected Trump's remark."We have been respectful during this summit process. Now we must speak out. Kim and his evil regime are responsible for the death of our son Otto. Kim and his evil regime are responsible for unimaginable cruelty and inhumanity. No excuses or lavish praise can change that. Thank you," the Warmbiers said in a statement at the time.Earlier this week Trump criticized Bolton for earlier comments he had made regarding North Korean denuclearization that angered Kim Jong Un."He's using that to make a deal with North Korea? And I don't blame Kim Jong Un for what he said after that, and he wanted nothing to do with John Bolton. And that's not a question of being tough. That's a question of being not smart to say something like that," Trump said. 2077

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