I used to love getting the Weekly Reader when I was in grade school. Times have changed. Nowadays current events for kids can be found online at a variety of places. Time for Kids is a great resource for this.
Published by the people who put together Time Magazine, this online weekly magazine has all kinds of interesting articles kids will enjoy. There is the news section, kid reporter section, Around the World where you can learn more about specific countries, the Homework Helper that includes flashcards and tips on how to write papers, and much more.
The site itself is kid friendly. There are some Time Magazine related ads in the sidebar, but I didn't personally observe any that were inappropriate. It appears that if you "subscribe" you can have access to quizzes and worksheets. When I clicked on the "subscribe" button it took me to a page where I could purchase the print version for a 1-year subscription for $29.95 (delivered to my home). However, I didn't have any trouble accessing the online articles without a subscription. So, if I understand correctly, a version of the online magazine is viewable but you may get even more out of it if you also subscribe to the print version. It also appears that a subscription will give you access to teacher resources, interactive digital editions, and archives of past lessons and resources.
Even if you choose not to subscribe, the site has some interesting articles for kids to read and enjoy and many different parts to explore.