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Tonight marks the fifth Democratic debate of the 2020 election cycle, and the stakes are starting to rise as the Iowa caucus and New Hampshire primary nears.Ten candidates have qualified for this debate, down from last month's debate of 12 candidates.CLICK ON THE PLAYER BELOWThe candidatesFormer Vice President Joe BidenNew Jersey Sen. Cory BookerSouth Bend, Indiana Mayor Pete ButtigiegHawaii Rep. Tulsi GabbardCalifornia Sen. Kamala HarrisMinnesota Sen. Amy KlobucharVermont Sen. Bernie SandersEntrepreneur Tom SteyerMassachusetts Sen. Elizabeth WarrenEntrepreneur Andrew Yang 591
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
There have been thousands of aftershocks after two strong earthquakes hit northeast of Los Angeles. Communities are shaken after the two earthquakes—measuring at 6.4 and 7.1 magnitudes--hit in less than two days. The July 5 earthquake was the strongest in Southern California in 20 years. Many people living in Trona, California say they don't want to stick around to see the next one. “I know this is God's work and all, but it’s traumatizing,” says Dorothea Mith. Smith says she no longer feels safe living in this section of Southern California, and she plans on moving. “All this is broken apart,” Smith says, as she looks at the damage to her home. “It fell. My glasses started falling and I just couldn't move.” Smith says all she was thinking about during the earthquakes was about staying alive. “I just don't feel safe her anymore,” she says. “The wall is breaking, and I once loved this house. Loved it.”Smith says her community is without water. “It’s nasty. We can’t use the restroom; we can’t shower,” she says. The feeling of vulnerability seems to be spreading across the desert. Construction workers say they’ve fixed multiple water main breaks in just the past few days. Meanwhile, at the town’s high school, volunteers and the Army are handing out free water and meals to residents. Resident Steve Rosenow says not only is his community dealing with no water and a fractured foundation, they have to deal with looters, too.“It’s pretty frustrating,” Rosenow says. “We got to protect what's ours, but you don't want to hurt anybody.” 1564
Thousands of Oakland teachers are going back to school Monday, officially ending a week-long strike that effectively shut down the city's 86 schools.The teacher's union ratified a 192
Tropical Storm #Bertha has formed near the coast of South Carolina this morning. Heavy rainfall will be the biggest threat, along with tropical storm force winds along portions of the South Carolina coast https://t.co/tW4KeFW0gB pic.twitter.com/8CeH3j9TlU— National Hurricane Center (@NHC_Atlantic) May 27, 2020 324