CosmoBiz Magazine September 2014 - Page 58

Beauty Industry News USA T O C F he Sunscreen Innovation Act has made its way through the House of Representatives and will be passed on to the Senate after the summer recess. The legislation aims to create a streamlined process and a timeline for the approval of new sunscreen ingredients. This change would allow for new innovative, and more effective products to become available. Currently, skin cancer is the most common type of cancer, with more than 2 million people in the U.S. diagnosed each year and 1 in 5 Americans developing skin cancer over their lifetime. In the US the last FDA approved over-the-counter ingredient for sunscreen was developed in the 1990’s. The Sunscreen Innovation act would require that pending applications for ingredient approval be given a decision within one year; for new applications the set time is one and a half years. osmetic company Avon announced that their second quarter profits have continued to decrease. The decrease is not a new trend; profits for the first quarter of the year had dropped by 11%. Earlier this summer they announced that they intended to cut another 600 positions within the organization. The company’s business outline for the end of 2013 announced that they intended to cut over 1000 jobs by the end of 2014. The restructuring is in response to a reported decrease in satisfaction with investors; the company was hoping to save up to $55 million through job cuts alone. G ood news for anyone looking to up their glam factor to Kardashian levels. While the sisters may not be everyone’s cup of tea, the reality stars’ new products are likely to wow regardless of the name attached. The sisters told WWD, “Our personal desire for healthy, beautiful hair and hands-on product development has allowed us to