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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

The U.S demand for drugs is a highly profitable business, with Americans reportedly spending about 0 billion in 2016 on drugs like cocaine, heroin, marijuana, and methamphetamines.Experts say tougher border security has not stopped cartels from smuggling drugs. Instead, it has only 298

The tipping equation is more complicated than ever."It can be really confusing, especially going from Panera to coffee shops to a restaurant," Rachel Bahner, a shopper on the Plaza, said, "Where do you draw the line of not to tip and when to tip?"There's also the dilemma of how much to give."If they take tips, I'll do 20 percent," Tiana Griffin, another Plaza patron, said.USA Today 397

The White House communications team is losing a longtime member as Lindsay Walters is set to depart the administration.Walters will leave her post as deputy press secretary in April for a role as vice president of US public affairs at public relations firm Edelman, the White House announced Tuesday alongside a series of glowing on-record statements."There are few talents who also have the savvy, sophistication and street smarts to thrive inside a West Wing as intense as this one. Lindsay Walters is one of them. The President and all of his staff are thankful for her service and we wish her all the best," chief of staff Mick Mulvaney said.Walters joined the administration at its beginning in January 2017. She previously worked on the Republican National Committee's press team as a spokeswoman under then-communications director Sean Spicer.The announcement comes as the White House communications team undergoes a series of changes. Hogan Gidley was recently promoted to principal deputy press secretary with the departure of Raj Shah, who left for the private sector. Two additional deputy press secretaries, Judd Deere and Steven Groves, were added to the team, each with their own assigned areas of focus, a return to its original structure.Press secretary Sarah Sanders will be the only remaining original high-level member of the White House press team after Walters' departure. Sanders and the first lady's communications director, Stephanie Grisham, both began as deputy press secretaries with Walters, but Grisham transitioned to the East Wing early in the administration.Throughout the administration, the communications team has 1661

This is the extraordinary tale of how a massive, strange-looking fish wound up on a beach on the other side of the world from where it lives.The seven-foot fish washed up at UC Santa Barbara's Coal Oil Point Reserve in Southern California last week. Researchers first thought it was a similar and more common species of sunfish -- until someone posted photos on a nature site and experts weighed in.What transpired after that surprised researchers from California to Australia and New Zealand.It turned out to be a species never seen before in North America. It's called the hoodwinker sunfish."When the clear pictures came through, I thought there was no doubt. This is totally a hoodwinker," said Marianne Nyegaard, a marine scientist who discovered the species in 2017. "I couldn't believe it. I nearly fell out of my chair."How the hoodwinker got its nameNyegaard spent years chasing the hoodwinker sunfish before she located and named the fish. All cases of the big fish were found in Australia, New Zealand, South Africa and Chile, she said. Except for one time in the 1890s, when drawings and records documented the fish appearing in the Netherlands.Scientists say there are five species of saltwater sunfish, and they come from different places. One enjoys tropical waters, another likes the subtropics and the hoodwinker prefers temperate water, Nyegaard told CNN. She works in the marine division at the Auckland War Memorial Museum in New Zealand."This is why it's so intriguing why it has turned up in California," she said. "We know it has the temperate distribution around here and off the coast of Chile, but then how did it cross the equator and turn up by you guys? It's intriguing what made this fish cross the equator."The antics of this wayward fish are comical, especially considering how the species got its name.As Nyegaard researched the fish, she realized some species of sunfish had been misidentified. One species that was thought to be rare was very common, while another fish thought to be common was misidentified, she said."It had gone unnoticed because no one really realized it looked different. There's a long history of confusion about the species in the sunfish family," Nyegaard said. "This fish had managed to stay out of sight and out of everybody's attention. It had been taken for mola mola (an ocean sunfish) so it was hoodwinking us all."And a bit of hoodwinking is what it was doing to researchers in California, too.Scientists first thought it was a different type of sunfishAn intern at Coal Oil Point Reserve alerted conservation specialist Jessica Nielsen to the dead beached sunfish on February 19. When Nielsen first saw it, the unusual features of the fish caught her eye."This is certainly the most remarkable organism I have seen wash up on the beach in my four years at the reserve," Nielsen said in a UC Santa Barbara press release.She posted some photos of the fish on the reserve's Facebook page. When colleague Thomas Turner saw the photos later that day, he rushed to the beach with his wife and young son.Turner, an evolutionary biologist who is six feet tall, stretched out his arms to show the scale of the seven-foot-long fish. He snapped some photos of what he thought was an ocean sunfish, a rare sight up-close, he said."It's the most unusual fish you've ever seen," said the UC Santa Barbara associate professor. "It has no tail. All of its teeth are fused, so it doesn't have any teeth. It's just got this big round opening for a mouth."Turner posted his photos on 3545

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