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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Barak Ravid, author of from Tel Aviv
21 mins ago - World

Scoop: Secret Israel-Sudan contacts paved the way for deal sealed by Trump

Trump on the phone with the leaders of Sudan and Israel. Photo: Alex Edelman/AFP via Getty

While the U.S. officially brokered the Israel-Sudan normalization deal, it was Israel that facilitated talks between the U.S. and Sudan on the broader deal that included Sudan’s removal from America’s state sponsors of terrorism list.

Why it matters: Israel’s secret contacts with Sudanese officials paved the way for a deal that was nearly a year in the making.

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Axios
Updated 23 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Surge "is real" and not just caused by more tests, Trump's testing czar says — Mask mandates help control the rise in hospitalizations.
  3. Business: Surge is sinking consumer confidence — Testing is a windfall.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. World: Putin mandates face masks.
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Orion Rummler
46 mins ago - Health

Trump's testing czar: COVID surge "is real" and not just caused by more tests

Assistant Secretary of Health Adm. Brett Giroir, who leads the federal government's coronavirus testing response, pushed back on Wednesday against President Trump's continued claims that rising coronavirus cases are a product of increased testing.

The big picture: Every available piece of data shows that the pandemic is getting worse again across the country. Hospitalizations are on the rise — and some hospitals are warning that they could soon be overwhelmed — while 13 states set new highs last week for coronavirus infections recorded in a single day.

Go deeper (<1 min. read)Arrow

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