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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 US economy added only 20,000 jobs in February, a surprisingly low number that bucked the trend of huge jobs gains in recent months.That was the fewest jobs gained in a month since September 2017.The unemployment rate fell to 3.8% as fewer unemployed people were looking for work. The Labor Department suggested that furloughed workers from the government shutdown returning to work also contributed to the the lower unemployment rate. 450

The Trump administration is waiving federal contracting laws to speed construction of a U.S.-Mexico border wall, moving the president closer to fulfilling a signature campaign promise in an election year but sparking criticism about potential for fraud, waste and abuse. The Department of Homeland Security said Tuesday it'll allow 177 miles of wall to be built faster in California, Arizona, New Mexico and Texas. A 2005 law gives the Homeland Security secretary sweeping powers to waive laws to expedite border barrier construction. Last week, the Trump administration announced that .8 billion in funds appropriated by Congress earmarked for defense projects would be diverted toward funding the border wall. Nearly .5 billion of those funds were intended for projects earmarked for the National Guard, while the rest was intended to be spent on replacing aircrafts and ships. 896

The Trump administration has acknowledged that its proposed changes to the food stamp program could leave nearly 500,000 children without access to free school lunches.The US Department of Agriculture released 222

TUCSON, Ariz. — An Arizona man is facing federal murder charges after investigators say he poured hot water down a 6-year-old's throat, 148

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