Apr 10, 2020 - Economy & Business

Amusement park operator Apex Parks Group files for bankruptcy

Theme parks across the country have been closed due to the coronavirus pandemic. Photo: AaronP/Bauer-Griffin/GC Images

Apex Parks Group, an Irvine, Calif.-based amusement parks operator owned by The Carlyle Group and Edgewater Funds, filed for Chapter 11 bankruptcy protection. It also disclosed plans to be acquired by a lender group led by Cerberus Capital Management.

Why it matters: While much of Apex's financial mess predates the pandemic — it closed an upstate New York park in February — this is a reminder of how lockdowns are devastating tourism companies beyond airlines, cruise lines, and hotels.

The bottom line: "The company has 10 entertainment centers and two water parks operating under such names as Big Kahuna’s, Sahara Sam’s, Boomers and SpeedZone in California, Florida and New Jersey.... Apex said the impetus for its bankruptcy filing was to reduce debt and it expects to resume operations." — Becky Yerak, WSJ

Go deeper: Media and entertainment industries pleased with coronavirus

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Axios

Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 1:30 a.m. ET: 19,861,683 — Total deaths: 731,326 — Total recoveries — 12,115,825 — Map.
U.S.: Total confirmed cases as of 1:30 a.m. ET: 5,044,864 — Total deaths: 162,938 — Total recoveries: 1,656,864 — Total tests: 61,792,571 — Map.
Politics: Pelosi says states don't have the funds to comply with Trump's executive order on unemployment — Mnuchin says Trump executive orders were cleared by Justice Department.
States: New York reports lowest rate of positive coronavirus test results since pandemic began
Public health: Ex-FDA head: U.S. will "definitely" see 200,000 to 300,000 virus deaths by end of 2020.
Schools: 97,000 children test positive for coronavirus in two weeks — Nine test positive at Georgia school where photo showing packed hallway went viral .

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Rebecca Falconer

2 hours ago - Health

97,000 children test positive for coronavirus in two weeks

A boy has his temperature checked as he receives a free COVID-19 test in South Los Angeles in July. Photo: Mario Tama/Getty Images

At least 97,000 children tested positive for COVID-19 in the final two weeks of July and there's been an estimated 338,000 cases involving kids in the U.S. since the pandemic began, a new report finds.

Why it matters: The findings in the report by the American Academy of Pediatrics and the Children’s Hospital Association comes as schools and day cares look to reopen in the U.S., with New York Gov. Andrew Cuomo (D) announcing Friday that school districts in the state can reopen in the fall amid lower coronavirus transmission rates.

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Rebecca Falconer

Updated 3 hours ago - World

Hong Kong media tycoon Jimmy Lai arrested under national security law

Media tycoon Jimmy Lai at the Next Digital offices in Hong Kong in June. Photo: Anthony Wallace/AFP via Getty Images

Hong Kong pro-democracy activist Jimmy Lai has been arrested for "collusion with foreign powers" and the offices of his newspaper raided, said Mark Simon, an executive at the tycoon's media firm Next Digital on Monday.

Why it matters: He was arrested under the new national security law that gives Beijing more powers over the former British colony. Lai is the most prominent person arrested under the law, which prompted the U.S. to sanction Chinese officials, including Hong Kong leader Carrie Lam, over Beijing's efforts to strip the territory of its autonomy.