Nike strikes deal with New York City

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Here’s the latest business headlines from Cheddar

Nike has struck a deal with New York City. This gives the athletic apparel retailer the rights to use New York iconography for two years. This means people may soon be able to buy a Nike T-shirt featuring the iconic NYPD logo, or a hat with the Parks Department's leaf.  The city will get a cut of the sales. City Hall is guaranteed at least $20,000 a year.

YouTube is planning to end targeted ads on videos that kids are likely to watch, according to Bloomberg. The move comes after the Federal Trade Commission has been investigating the video platform, and whether or not it has failed to protect young viewers. YouTube and the FTC reportedly reached a multimillion-dollar settlement over the matter. Videos featuring kids under the age of 13 receive three times more views than other videos, and this move could cost YouTube tens of millions of dollars in ad sales.

Walmart is suing Tesla after solar panels at seven of its stores caught on fire. Walmart is alleging breach of contract, and asking Tesla to remove solar panels from more than 240 of its locations. The companies have partnered on clean energy initiatives for years.

 

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