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

23 mins ago - Politics & Policy

U.S. cities crackdown on protests against police brutality

Photo: Megan Jelinger/Anadolu Agency via Getty Images

Major U.S. cities have implemented curfews and called on National Guard to mobilize as thousands of protesters gather across the nation to continue protesting the death of George Floyd.

The state of play: Hundreds have already been arrested as tensions continue to rise between protesters and local governments. Protesters are setting police cars on fire as freeways remain blocked and windows are shattered, per the Washington Post. Law enforcement officials are using tear gas and rubber bullets to try to disperse crowds and send protesters home.

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Rebecca Falconer

29 mins ago - Politics & Policy

Trump to invite Russia and other non-member G7 countries to summit

President Trump at Cape Canaveral, Florida, on Saturday. Photo: Saul Martinez/Getty Images

President Trump told reporters on Saturday evening he would postpone the G7 summit to September and expand the meeting to more nations that are not members of the Group of 7.

Details: Trump said he would invite Russia, South Korea, Australia and India to the summit, according to a pool report. "I don’t feel that as a G7 it properly represents what’s going on in the world. It’s a very outdated group of countries," he said.

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Axios

Updated 54 mins ago - Politics & Policy

George Floyd protests: What you need to know

Thousands of protesters march in Denver, Colorado, on May 30. Photo: Michael Ciaglo/Getty Images)

Curfews are being imposed in Portland, Oregon, and Cincinnati, while the governors of Georgia, Kentucky, Ohio and Texas activated the National Guard following unrest in the states, per AP.

The big picture: Floyd's fatal run-in with police is the latest reminder of the disparities between black and white communities in the U.S. and comes as African Americans grapple with higher death rates from the coronavirus and higher unemployment from trying to stem its spread.

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