Nov 15, 2017

P&G paying $100 million for deodorant startup

Procter & Gamble has paid around $100 million in cash to acquire Native, a San Francisco-based maker of natural deodorants for men and women, Axios has learned.

Why it matters: P&G just ended a long proxy battle with activist investor Nelson Peltz, whose demands had included that the company launch products that would appeal to millennials. Even though P&G narrowly held Peltz off, it seems to have taken some of his arguments to heart.

ROI: Native only raised around $500,000 in venture capital funding, from firms like Azure Capital Partners.

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Texas oil regulators poised to debate historic production controls

Workers extracting oil from oil wells in the Permian Basin in Midland, Texas. Photo: Benjamin Lowy/Getty Images

Texas oil regulators are likely to hold a hearing this month on whether to take the historic step to curb the state’s oil production amid a global market collapse fueled by the coronavirus.

Driving the news: Ryan Sitton, one of three commissioners of the Texas Railroad Commission, which oversees state oil production, told Axios that a hearing will likely be held soon in response to a renewed request earlier Monday from two oil companies to limit production as one way to stem the steep slide in global oil prices.

More states issue stay-at-home orders as coronavirus crisis escalates

Data: Axios reporting; Map: Danielle Alberti/Axios

Maryland Gov. Larry Hogan, Virginia Gov. Ralph Northam and District of Columbia Mayor Muriel Bowser issued stay-at-home orders on Monday, with exceptions for residents engaged in essential services, including health care and government functions. Arizona Gov. Doug Ducey announced a similar directive on Monday evening.

The big picture: The states and territory are the latest to announce policies to enforce social distancing, which have affected almost 250 million Americans. More than 1.5 billion people worldwide had been asked to stay home as of last week.

Go deeperArrowUpdated 28 mins ago - Health

U.S. coronavirus updates: 3 out of 4 Americans forced to stay home

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

At least 30 state governors and the District to Columbia have ordered their residents to stay home to promote social distancing and limit community spread from the coronavirus pandemic.

The big picture: Those states account for about 3/4 of the American population, the N.Y. Times notes. More cities like Boston, Detroit, New Orleans and Philadelphia, are reporting an influx of cases, prompting states to take stronger actions.

Go deeperArrowUpdated 49 mins ago - Health