Schick owner retreats from $1.37B buyout of Harry’s

SHELTON, CONN. >> The company that owns Schick has terminated its attempt to buy the upstart shaving company Harry’s for $1.37 billion, just days after the U.S. sued to block the acquisition. Edgewell Personal Care Co. said Monday that it will move forward as a standalone company. It also said that Harry’s Inc. is now suing Edgewell, a case that it says has no merit. The Federal Trade Commission cited antitrust issues in trying to derail the deal last week. Schick is the No. 2 razor company in the U.S. behind Gillette. Both brands have slashed prices and overhauled their sales operations in recent years in response to the rise of Harry’s and rival Dollar Shave Club, which both started as direct-to-consumer digital brands.

Technology companies, retailers lead stocks higher

NEW YORK >> Stocks closed higher on Wall Street, led by gains in technology companies and retailers. Microsoft and Amazon rose. Botox maker Allergan also climbed on surprisingly good financial results. Communications and health care companies helped round out some of the top gainers. Energy companies, including Exxon Mobil, lagged the market.

Sony, Amazon, drop out of big tech show over virus

LONDON >> Two big companies are the latest to pull out of a major European technology show due to fears over the outbreak of the new coronavirus. Electronics manufacturer Sony and mobile phone carrier NTT DoCoMo said Monday they’re scrapping their appearances at Mobile World Congress, the world’s biggest mobile industry trade fair, in Barcelona, Spain, this month.