Oct 12, 2019

WeWork will close its school WeGrow in 2020

Illustration: Sarah Grillo/Axios

WeGrow, an educational branch of WeWork, will be closing its doors at the end of 2019-2020 academic year so its parent company can focus on the office-sharing business, reports Reuters.

Why it matters: The company is cutting expenses by laying off employees and closing or selling business units deemed nonessential to its operations in an effort to avoid running out of money, per Reuters.

The big picture: WeWork cancelled its IPO after struggling to get it off the ground, and its is now seeking new financing. Founder Adam Neumann stepped down last month as CEO following growing investor concern over the company's value and business model.

Context: The private school for kids as young as 2 was founded by Neumann's wife Rebekah, and charged between $22,000 to $42,000 for annual tuition based on age.

Go deeper... Latest WeWork drama: SoftBank vs. CEO Adam Neumann

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Updated 14 mins ago - Politics & Policy

George Floyd protests: What you need to know

Police block protesters at a rally on May 30 outside the state house on the fourth straight day of demonstrations against the death of George Floyd. Photo: Megan Jelinger/Anadolu Agency via Getty Images

Protests over the death of George Floyd and other police-related killings of black men spread across the U.S. Saturday, amid tense standoffs with police in several cities.

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.

U.S. cities crack down 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 demonstrators 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.

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.