Jun 26, 2019

Coty in talks to buy majority stake in Kylie Jenner's cosmetics company

Coty is in talks to buy a majority stake in Kylie Cosmetics from Kylie Jenner for at least $600 million, according to Women's Wear Daily.

Why it matters: The recent controversy over whether or not Kylie Jenner is a "self-made" billionaire obfuscates the fact that she quickly built a beauty products powerhouse that could soon live under the same corporate umbrella as CoverGirl and Sally Hansen.

The bottom line: "Kylie Cosmetics made a splash when it first launched with lip kits in 2015. ... In the first 18 months, it did $420 million in sales. Since then growth has slowed, sources said, which prompted the brand to enter Ulta Beauty." — WWD

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Concern over coronavirus spread: Italy, South Korea and Iran report more cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The number of novel coronavirus cases in South Korea, Italy and Iran jumped on Sunday as infections in mainland China continued to grow, the latest figures show.

The big picture: As South Korea and Italy stepped up emergency measures amid rising case numbers, World Health Organization officials expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,619 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 2 hours ago - Health

Sanders reveals free childcare plan for preschoolers

Democratic presidential candidate Sen. Bernie Sanders speaks during a campaign rally on Saturday in El Paso, Texas. Photo: Cengiz Yar/Getty Images

Democratic presidential candidate Sen. Bernie Sanders announced on CBS' "60 Minutes" Sunday a new plan to guarantee free child care and pre-kindergarten to all American children from infancy to age four.

Details: In the wide-ranging interview, Sanders told Anderson Cooper he planned to pay for universal childcare with a wealth tax. "It's taxes on billionaires," he said.

Go deeperArrowUpdated 3 hours ago - Politics & Policy

Joe Biden places second in Nevada caucuses, ahead of Pete Buttigieg

Democratic presidential candidate and former Vice President Joe Biden a Nevada Caucus watch party in Las Vegas on Saturday. Photo: Ronda Churchill/AFP via Getty Images

Former Vice President Joe Biden secured second place in the Nevada Democratic caucuses with former Southbend Mayor Pete Buttigieg third, according to NBC News projections Sunday.

Why it matters: It's a boost for Biden, who's widely tipped to be endorsed by House Majority Whip Jim Clyburn (D-S.C.) on Wednesday, ahead of this week's South Carolina primary.

Go deeperArrowUpdated 3 hours ago - Politics & Policy