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Tuesday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.

Investing in innovative retailers

Simon has formed a new company, with a value of $300 million, to invest in innovative retailers.

It’s a SPAC, which stands for special acquisition purpose company. It’s a new way to take companies public.

David Simon will serve as chairman of the SPAC, and his 33-year old son Eli will be its CEO.

It will focus on health and wellness, food and beverage retail, distribution, co-working, entertainment, sports, esports, hospitality, e-commerce, or traditional retail brands.

Pet insurance deal

The nation’s largest pet insurer and the largest retailer are getting together to offer pet insurance and medicines.

Nationwide and Walmart formed a partnership in which nationwide pet insurance members can get their prescription medicines for their pets filled at a Walmart pharmacy.

Members will have access to Walmart’s most commonly prescribed pet-specific medications for chronic disease and flea, tick and heartworm prevention at prices below what stores charge.

Cleaning wipe claims

An Israel-based company has received approval from the Environmental Protection Agency for its claims that it’s newest product, Cleanitize disinfecting wipes, kills the COVID-19 virus.

Cleanitize wipes are made at the company’s North Carolina plant, where it manufacturers primarily baby wipes and disinfecting wipes.

To make more wipes to meet demand, Albaad last week announced it is aggressively hiring.

Hands-free shoes

Nike just unveiled its first sneaker that you can slip on hands-free.

The $120 shoes allows people to slip the shoes on and off without bending down thanks to a “bi-stable hinge.

The sneakers will be available to the public later this year.