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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

TONIGHT: This man (on the right) says his wife was cremated after a man went to a funeral home impersonating him. “If they just would of check for some credentials... My wife did not want to be cremated. She wanted to be buried next to her grandmother.” We have both sides. 286

The San Francisco Police Department said on Tuesday that investigators now suspect a freelance journalist who had refused to reveal the identity of a confidential source took part in a conspiracy to steal a police report on the death of a public defender.Police Chief Bill Scott said at a press conference that there is a criminal investigation into whether that journalist, Bryan Carmody, was an "active participant in the commission of the criminal acts beyond his role with the news media.""Mr. Carmody was and continues to be viewed by investigators as a possible co-conspirator in this theft rather than a passive recipient of the stolen document," Scott said. He did not cite any evidence of Carmody's role in the alleged theft at the press conference.Scott made the statement after police officials said in court earlier in the day that Carmody will get all of his property back after it was seized in a raid on May 10.Press advocacy groups, including the Committee to Protect Journalists, released statements at the time condemning the raid. The Society of Professional Journalists Northern California chapter invoked the law designed to provide legal cover for journalists who want to protect the identity of an unnamed source."California's Shield Law protects journalists from being held in contempt for refusing to disclose their sources' identities and other unpublished/unaired information obtained during the news gathering process," SPJ NorCal said. "That this search was carried out weeks after Carmody declined a request from San Francisco police to divulge his sources shows an alarming disregard for the right to gather and report on information."The northern California-based freelance journalist 1729

Tropical Storm Nestor continues pounding parts of the Florida Gulf Coast with heavy rain, strong winds and storm surges Saturday, the National Hurricane Center said.At 5 a.m. ET, Nestor's winds were 50 mph, down from a maximum sustained winds of 60 mph Friday evening.Nestor is expected to move inland over the Florida Panhandle on Saturday morning, the hurricane center said. 388

The Trump administration announced on Wednesday new guidelines regarding how children residing overseas with U.S. troops and government employees are given citizenship.The new guidelines state that a child must meet certain residency requirements before being granted U.S. citizenship.The new guidelines does not change the law on birthright citizenship if the parents were both U.S. citizens and residents before the child's birth. Instead, the guidelines effect children whose parent or parents are U.S. citizens, but not necessarily U.S. residents. According to the U.S. Citizenship and Immigration Services, the policy affects:Non-U.S. citizen parents and adopted by a U.S. citizen U.S. government employee or U.S. service member after their birth;Non-U.S. citizen parents, such as a lawful permanent resident U.S. government employee or U.S. service member who naturalized only after the child’s birth; orTwo U.S. citizen government employee or U.S. service member parents who do not meet the residence or physical presence requirements to transmit citizenship to their child at birth (or one non-U.S. citizen parent and one U.S. citizen parent who does not meet these requirements). The guidelines state, "Children residing abroad with their U.S. citizen parents who are U.S. government employees or members of the U.S. armed forces stationed abroad are not considered to be residing in the United States for acquisition of citizenship. Similarly, leave taken in the United States while stationed abroad is not considered residing in the United States even if the person is staying in property he or she owns."The policy states that a U.S. citizen parent must apply for citizenship on the child's behalf.The guidelines also state that the child and their parents must complete the process to become a citizen by the child's 18th birthday.U.S. law has the following requirements for children to be given citizenship automatically:(1) At least one parent of the child is a citizen of the United States, whether by birth or naturalization.(2) The child is under the age of eighteen years.(3) The child is residing in the United States in the legal and physical custody of the citizen parent pursuant to a lawful admission for permanent residence.To read the complete guidelines, click 2300

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