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Editor’s Note: This article was originally published by The Art Newspaper, an editorial partner of CNN Style. (CNN) — The Italian artist and provocateur Maurizio Cattelan shines a light on gun violence and the divisions in US society in a new installation at Gagosian in New York City. “We live in a world where the rich are getting richer and the poor are becoming poorer,” Cattelan told The Art Newspaper. America was about wealth, and this new work is about violence and wealth,” he added. Read more stories from The Art Newspaper here.
Persons: , provocateur Maurizio Cattelan, , ” Cattelan, Solomon, Gagosian, Francesco Bonami, Maurizio Cattelan's, Kevin Frayer, , Read Organizations: The Art, CNN, Art, Guggenheim Museum, Gagosian, UCCA, Contemporary Art, Art Basel Locations: New York City, Brooklyn, Europe, ‘ America, United States, America, Beijing, China, Miami Beach
The Miami Grand Prix, a unique spectacle in Formula 1, is heading into its third year. Heading into its third year, Formula 1's Miami Grand Prix has made a name for itself as a unique spectacle in the sport. But the logistics' massive scope is just one aspect that sets the Miami Grand Prix apart. The marina at the F1 Miami Grand Prix in 2022. Local flavorThe Miami Grand Prix aims to capture the city's flair.
Persons: , Todd Boyan, Boyan, Tyler, Ricardo Arduengo, Guenther Steiner, Steiner, Mark PETERSON, Haas, We've, It'll Organizations: Miami Grand Prix, Service, Miami, Hard, Miami Dolphins —, Miami Dolphins, Miami Open, Prix, Tyler Epp, Miami Grand, Epp, . Miami, Monaco, Logistics, Haas, Netflix, Miami . F1 Academy, F1 Academy, Beach Club, cabanas, Art, Paddock Club Locations: Jeddah, Saudi Arabia, Miami, South Beach, Art Basel
Banks help fund the vast majority of renewable energy projects through tax equity investments, which allow the banks to benefit from federal tax credits for renewable energy. Currently, renewable energy draws $18 billion to $20 billion annually through tax equity investments, according to the American Council on Renewable Energy. "Many people joke that we're on the 'solar-coaster,'" Torres said about the ups and downs of renewable energy. The higher capital requirements for renewable energy projects in Basel III puts the regulation on a collision course with the Biden administration's push for cleaner and greener energy sources. "The clean energy industry's experience with tax equity investments does not warrant such a radical change," the group's letter read.
Persons: Julian Torres, Torres, he's, Banks, Jerome Powell, Biden, Dominic Lacy, Sean Casten Organizations: D.C, Gallaudet University, Washington , D.C, Gallaudet, Federal Reserve, FDIC, American Council, Renewable Energy, Basel III, Tesla, American Bankers Association, Bank, Institute, Clean Energy State Alliance Locations: Washington ,, Basel
Swiss pharmaceutical company Roche on Wednesday reported a modest uptick in first-quarter sales, even as waning demand for its Covid-19 products continued to weigh on the company. Sales were up 2% at constant exchange rates, led by stronger demand for Roche's newer medicines and diagnostics, the company said. Excluding Covid-19 products, sales were up 7%. But sales tightened when reported in the company's local currency, down 6% off the back of a strong Swiss franc. Roche CEO Thomas Schinecker on Wednesday confirmed the company's 2024 outlook, saying it was largely out of the woods following a post-Covid-19 slump.
Persons: Roche, Thomas Schinecker, Schinecker Organizations: Roche, AG, Wednesday, Reuters Locations: Basel, Switzerland, Swiss
Signage for Novartis AG at a building in the company's headquarters campus in Basel, Switzerland, on Monday, Jan. 8, 2023. Shares of Swiss drugmaker Novartis climbed as much as 4.8% in early deals on Tuesday, after the company raised its full-year guidance following better-than-expected first-quarter results. Novartis' net sales rose 11% in the first three months of the year, while core operating income increased 22% over the same period. Narasimhan said the company continued to advance its drug pipeline in the first quarter, including treatments for prostate cancer and leukemia. "The momentum in our business and pipeline gives us continued confidence in our mid- and long-term growth outlook," he said.
Persons: Vas Narasimhan, Narasimhan Organizations: Novartis AG, Swiss, Novartis Locations: company's, Basel, Switzerland, London
Faith Ringgold, pictured in her studio in New York City in 1999. Anthony Barboza/Getty Images(CNN) — Faith Ringgold, the pioneering artist and author best known for her narrative quilts that interwove art with activism, has died at 93. After earning her bachelor’s degree in fine art and education in 1955, Ringgold began teaching art in public schools while developing her own art. Her early work was influenced by civil and racial unrest, and had patent and profound political and social tones. The painting, arguably the series’ most famous, gorily depicts a group of men, women and children brutally attacking one another.
Persons: Faith Ringgold, Anthony Barboza, Faith, , Dorian Bergen, , Ringgold, Ringgold’s adamancy, Jacquelyn Martin, Madame Willi Posey, ” Ringgold, Leila Macor, Connie’s Organizations: New York Times, ACA Galleries, Ringgold, CNN, Harlem, City College of New, City College, Civil, Museum, Modern, Museum of Modern Art, National Museum of Women, Arts, Washington , D.C, New Museum, American, de Young Museum, Museum of Contemporary Art, Basel, Getty Locations: New York City, New Jersey, Harlem, America, African American, Washington ,, Vietnam, Paris, London, New York, San Francisco, Museum of Contemporary Art Chicago, Miami Beach , Florida, AFP
The Peninsula Hotel in Hong Kong, an iconic property that opened in 1928, offers a luxury experience. Steps away from the glistening Victoria Harbour sits the Peninsula Hotel. The flagship hotel in the Peninsula Hotels group, which boasts properties worldwide, opened in December 1928, making it one of the oldest hotels in Hong Kong. The iconic hotel, one of the official hotel partners of Art Basel Hong Kong, sponsored by the global lead partner UBS, is nestled right on the Kowloon Peninsula in Tsim Sha Tsui. Thanks to their Art in Resonance program, it's also home to four memorable art pieces featuring "emerging and mid-career" artists.
Persons: , Chanel, Harry Winston, it's, Bon Jovi, Tom Cruise Organizations: Service, Hotels, Art Basel, UBS Locations: Hong Kong, Art Basel Hong Kong, Tsim Sha Tsui
Fashion's elite, including Maison Margiela's Stefano Rosso, attended Art Basel in Hong Kong last month. BI was in Hong Kong to admire art, but also the city's innovative fashion sense. This article is part of BI's 2024 Art Basel series, taking you inside the art fair's global scene. Fashion and art are inextricably linked — evident at this year's Art Basel in Hong Kong. The art fair, sponsored by UBS, attracted more than 240 galleries from around the world to descend on the Hong Kong Convention and Exhibition Centre last month.
Persons: Maison Margiela's Stefano Rosso, , Art Basel Organizations: Art Basel, BI, Service, Art, UBS, Hong Kong Convention, Exhibition, Harbour Locations: Hong Kong, Basel, Art Basel, Hong
Israeli forces have withdrawn from Al Shifa Hospital in Gaza City after a two-week operation, the Israeli military said on Monday, leaving behind a wasteland of destroyed buildings and Palestinian bodies scattered in the dirt of the complex. The Israeli military said it had killed and detained hundreds of gunmen in clashes in the area of the hospital, and seized weaponry and intelligence documents. "The place is destroyed, buildings have been burnt and destroyed. This place needs to be rebuilt - there is no Shifa hospital anymore," Basel said. Israel said operations inside Al Shifa had been conducted "while preventing harm to civilians, patients and medical teams."
Persons: Samir Basel, Al Shifa, Israel Organizations: Al Shifa, Palestinian Hamas, Civil Emergency Service, Reuters Locations: Gaza City, Gaza, Israel, Palestinian, Basel
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Before I share how I survived my 15-hour flight, I have to let you in on my personal Q2 challenge: I'm determined to eat less ultra-processed foods. Now the city has reimagined itself as a tourist destination, with a waterpark, an artificial beach, and a golf course. According to one estimate, Americans actually have about four to six hours of leisure time every day. AdvertisementSee the full listMore of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor-in-chief, in New York.
Persons: , you'll, Let's, Greta Gerwig's, Barbie, Jenny Chang, Rodriguez, Marielle, Marielle Descalsota, Daniel Chaney, Alexa Campbell, Henry Ammann, Alyssa Powell, Beyoncé, Carter, Buckle, Tanner Adell, who's, Javier Zayas, there's, Tyler Le, Ewan McGregor's, Lisa Frankenstein, Zelda Williams, Robin Williams, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan Organizations: Service, Business, Canberra Airport, Getty, Art Basel, BI, Visa, Mastercard —, Mastercard Forest City, Paramount, Netflix Locations: Hong Kong, Australia, Johor, Malaysia's Forest, Forest City, Texas, Moscow, New York
Hong Kong CNN —Picture Vladimir Putin, Angela Merkel and George W. Bush as 7-year-olds. Noemi Cassanelli/CNNAsia’s largest art fair, which concludes Saturday, has returned to “pre-pandemic scale,” as organizers put it. Hong Kong artist Mak2's installation in the fair's "Encounters" section. A colorful booth by Dvir Gallery, based in Paris, Tel Aviv and Brussels, which participated in the Hong Kong fair for the first time. So while Art Basel is a “very international platform,” Chan said, it still provides the chance to showcase homegrown talent.
Persons: Vladimir Putin, Angela Merkel, George W, Bush, , Noemi Cassanelli, Hong, Hong Kong’s, , William Leung, fairgoer, , Ivy Haldeman, François Ghebaly, It’s, it’s, “ It’s, Victoria Miro, Wirth, Mark Bradford, Philip Guston, Ed Clark, ” Keith Tsuji, Willem de Kooning’s, Kooning, Fuyuhiko Takata, Yoko Ono’s, Takata, Fuyuhiko, Louise Delmotte, I’m, ” Takata, fairgoers, Jaume Plensa, Mary Sabbatino, Sabbatino, Mak2, Teppei, Maho Kubota, Alexie, Kantor, Trevor Yeung, Stephen Wong, people’s, Hilda Chan, London’s, ” Chan Organizations: Hong Kong CNN, Art Basel, CNN, , Hauser, Hauser & Wirth, Galerie Lelong, The, Hong, Dvir, Hong Kong, CNN Hong, London’s Tate Locations: Hong Kong, Beijing, Hong Kong ., China, New York, Art Basel Hong Kong, Los Angeles, Asia, American, Spanish, York, Paris, Australian, Paris , Tel Aviv, Brussels, Hong
Kate Banks, who, despite personal tragedy and debilitating illness, became an award-winning author of children’s books and young-adult novels that captured the wonder of youth while also confronting fear and grief, died on Feb. 24 in Basel, Switzerland. She was 64. The cause was medically assisted death, following a Stage 4 neuroendocrine cancer diagnosis in 2022, her sister Amy Banks said. Ms. Banks had mast cell activation syndrome, a disorder of the immune system, and had been unable to undergo standard cancer treatments or take most medications, including those for pain. Despite the ailment, which she had suffered for decades, and the lingering trauma from the murder of her father when she was in college, Ms. Banks was prolific, publishing more than 50 books since the late 1980s.
Persons: Kate Banks, Amy Banks, Banks Locations: Basel, Switzerland
The U.S. has rapidly overwhelmed China as the world's top spot for millionaires and billionaires, according a new report. Over the past five years, the population of millionaires in the U.S. has grown 35%, nearly twice as fast as China's. The U.S. is now home to 37% of the world's millionaires, up from 35% in 2018. A net 13,500 Chinese millionaires left China in 2023, marking a new record. Luxury sales in the U.S. last year totaled $80 billion, to China’s $52 billion, Bain found.
Persons: Robert Frank, Dominic Volek, Henley, Bain, Volek Organizations: Henley & Partners, Henley, U.S, UBS, Art Basel, Bain, Luxury Locations: U.S, China, Asia, Europe
Goldman Sachs has a buy rating on Citigroup for the first time since 2022, as the investment bank implements a turnaround strategy that should boost shareholder returns. Goldman has raised its stock price target for Citi to $68, implying nearly 18% upside from Wednesday's close price of $57.76. Goldman expects Citigroup's revenue to grow at an accelerated compound annual rate of 4% to reach $85.7 billion by 2026. Citigroup is also expected to increase share buybacks by $1 billion in 2024 and $4 billion in 2025. The bank may have capacity for even more buybacks if Basel 3 rules are changed, it said.
Persons: Goldman Sachs, Goldman, Richard Ramsden, — CNBC's Michael Bloom Organizations: Citigroup, Citi Locations: Basel
Wells Fargo 's run of form continued Wednesday, with shares hitting another 52-week high. Wall Street analysts see more upside ahead for what's been the best-performing major U.S. bank stock in 2024. Shares of Wells Fargo have surged nearly 18% year-to-date, compared to the S & P 500 's 8.5% advance over the same stretch. Higher for longer Both analysts said a higher-for-longer interest rate environment creates a favorable setup for a money center bank like Wells Fargo. As the expectations for Fed cuts this year have been coming down, Wells Fargo stock has been climbing.
Persons: Wells, what's, Goldman Sachs, Morgan Stanley —, , RBC Capital Market's Gerard Cassidy, Piper Sandler's Scott Siefers, Jim Cramer, RBC's Cassidy, Cash, Cassidy, Piper's Siefers, Siefers, Charlie Scharf, Scharf, that's, Jerome Powell, Jim Cramer's, Jim, Justin Sullivan Organizations: Wall, Peers, JPMorgan, Wells, CNBC, RBC Capital, Federal Reserve, Wells Fargo, Capital, Getty Locations: Wells Fargo, Wells, Basel
But where banks' exposure to commercial real estate is concerned, locating that fire may be difficult. Rising interest rates quickly increased the cost of borrowing for investors in commercial real estate, including offices and multifamily homes. It doesn't reveal details such as borrowers' track records, said Mark Hillis, a former chief risk officer for commercial real estate at JPMorgan. There's also varying concentration risk: the largest banks with commercial real estate exposure are more diversified, meaning that any losses won't be as devastating, Baker said. "We think very few banks will run into issues just from their commercial real estate exposure," Reidy said.
Persons: Michael Barr, Jerome Powell, Todd Baker, Mark Hillis, Clifford Rossi, Robert H, Rossi, Baker, There's, Hillis, multifamily, haven't, You'll, Banks, you'll, Rebel Cole, NYCB, Matt Reidy, Reidy, Cole Organizations: Federal Reserve, Business, York Community Bank, SEC, Richman Center for Business, Law, Columbia University, JPMorgan, Smith, Smith School of Business, University of Maryland, Mortgage Banker's Association, Bank, Signature Bank, First, Countrywide Bank, Washington Mutual, Citigroup, multifamily, Florida Atlantic University, Federal, Regulators, TCRE, Equity RCRE, Community Bank, Provident Bank NJ, Merchants Bank of Indiana, Apple Bank for Savings, Oceanfirst Bank, Independent Bank, Lakeland Bank NJ, Ozk, Washington Federal Bank WA, Axos Bank, Sandy Spring Bank, Columbia Bank NJ, Farmers, Merchants Bank of CA, Popular Bank, Pacific Premier Bank, United Bank, Trust, Rockland Trust, Umpqua Bank, ServisFirst Bank, Bell Bank, Stellar Bank, National Bank of, National Bank of Florida FL, New York Community Bank Locations: multifamily, Basel, CRE, California, Rockland, National Bank of Florida
Ultimately, it’s very high leverage,” Tomasz Piskorski, a finance professor at Columbia Business School, tells me. Even a year after that exact thing happened — Silicon Valley Bank failed after depositor demand eclipsed the value of its assets — regulators haven’t addressed the core leverage issue. The most obvious answer is one the banking industry hates: Increase the amount of money a bank is required to hold in reserve. And their go-to argument against such regulations is that they force banks to curtail loans to customers, hurting folks in the real economy. The upshot: Despite the banking industry’s protest, banks can handle much higher capital requirements (at least, according to Piskorski et al).
Persons: CNN Business ’, it’s, ” Tomasz Piskorski, there’s, Piskorski, haven’t, Jerome Powell, ” Piskorski Organizations: CNN Business, New York CNN, New York Community Bank, Columbia Business School, Valley Bank, Federal Reserve, National Bureau of Economic Research Locations: New York, Basel, stow,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: In process of reviewing comments for Basel III EndgameFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.
Persons: Powell, Jerome Powell Organizations: Financial Services
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: Basel III Endgame proposal comments 'unlike anything I've ever seen'Federal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.
Persons: Powell, Jerome Powell Organizations: Financial Services Locations: Basel
CNN —Israeli journalist and film director Yuval Abraham said he is receiving death threats and has canceled his flight home from the Berlin International Film Festival amid backlash to an acceptance speech in which he decried the “situation of apartheid” and called for a ceasefire in Gaza. Abraham and his Palestinian co-director Basel Adra accepted the Best Documentary award for their film “No Other Land,” which chronicles evictions and demolitions of Palestinian homes in the occupied West Bank by Israeli authorities, on Saturday. Their speeches were met with accusations of antisemitism by high-level German and Israeli officials, including the mayor of Berlin and Israel’s Ambassador to Germany. “I am still getting death threats and had to cancel my flight home. I’m free to move where I want in this land; Basel is, like millions of Palestinians, locked in the occupied West Bank.”He continued: “We need to call for a ceasefire.
Persons: Yuval Abraham, Abraham, Basel Adra, , ” Abraham, John Macdougall, Adra, , Kai Wegner, ” “, ” Ron Prosor, Organizations: CNN, Berlin, West Bank, Israeli, Potsdamer, Getty, Abraham’s, Bank, Basel, Locations: Gaza, Berlin, Germany, Israel, Basel, ” “ Berlin
When Yuval Abraham and Basel Adra walked onstage at the Berlin International Film Festival on Saturday night, they had come to talk about more than movies. Abraham and Adra, an Israeli and Palestinian filmmaking team, had just won the festival’s award for best documentary for “No Other Land,” a movie about Palestinian resistance to Israeli campaigns in the occupied territories. It was “very hard,” Adra said, to celebrate the award “when there are tens of thousands of my people being slaughtered and massacred by Israel in Gaza.”He called upon German lawmakers to “stop sending weapons to Israel,” before Abraham called for a cease-fire and an end to Israel’s occupation. The audience, which included the culture minister of Germany, Claudia Roth, applauded loudly, and there were whistles and cheers in the hall.
Persons: Yuval Abraham, Basel Adra, Abraham, Adra, ” Adra, , Claudia Roth Organizations: Berlin Locations: Palestinian, Israel, Gaza
Artist Uman creates kaleidoscopic worlds on canvas
  + stars: | 2024-02-18 | by ( Suyin Haynes | ) edition.cnn.com   time to read: +5 min
“I’m more of a fan of the destination,” the artist said, smiling behind sunglasses on a cloudy afternoon in London. Uman Joe PerezIt’s her studio — “my fortress,” as she calls it — where she feels most at home, happiest and freest. This sense of freedom is conveyed in Uman’s latest work, currently on display at Hauser & Wirth gallery in London. Uman Courtesy the artist/Hauser & Wirth/Nicola Vassell GalleryIn a way, each work in the show also extends beyond its own canvas, as Uman worked on several artworks simultaneously during the second half of 2023. “The mirrors came from nostalgia,” says Uman, who recalls growing up celebrating Eid wearing garments embellished with circular mirrors.
Persons: she’s, , , Uman Joe Perez It’s, Hauser, Nicola Vassell, I’m, I’ve Organizations: CNN, Uman, Hauser & Wirth, Wirth, , Art Basel Miami, Aldrich Contemporary Art Museum Locations: Uman, London, Somalia, Somali, Denmark, New York City, , New York, Kenya, ” Uman, Connecticut, Nairobi
Overlaid on that picture is the company name, Grier Shoe Shop, and its address — which is part of an area known as Black Wall Street. With these ventures, she's part of a growing class of Black entrepreneurs tapping into Tulsa's history for inspiration and resources for support. He also won a grant from a Black Wall Street organization. The Black Wall Street Mural in the Greenwood district of Tulsa, Oklahoma, on Friday, June 19, 2020. Greenwood, known as Black Wall Street, was one of the most prosperous African-American enclaves in the U.S. before it was burned down by a white mob in 1921.
Persons: Venita Cooper, Parnia Mazhar, Grier, Silhouette, They've, Cooper, Dominick Ard'is, George Floyd, Ashli Sims, she's, Sims, North Martin Luther King, Edna Martinson, It's, Martinson, LaTanya White, he's, Adesanya, Grant Warner, James Lowry, Lowry, who's, Greenwood, Christopher Creese Organizations: Silhouette, NBC News, Tulsa, Build, Art, NBC, North Martin Luther King Jr, Ku Klux, House, Art Basel, Southwest, Black, Stanford, National Bureau of Economic Research, Creative, CNBC, Harvard Business School, Center for Black Entrepreneurship, Black Economic Alliance Foundation, Boston Consulting, Bloomberg, Getty Locations: Greenwood, Tulsa , Oklahoma, TULSA, Tulsa, North, Miami, South, Austin, U.S, PalmPlug, Seattle, America
Basel III proposals would cripple commercial property financing, MBA CEO Bob Broeksmit said. "Basel III could be the end of bank real-estate finance as we know it," Broeksmit said. Basel III could be the end of bank real-estate finance as we know it," Broeksmit said at the CREF 24 conference in San Diego on Monday. This isn't the first time Basel III has raised alarms, and some groups outside of the banking industry have also criticized the proposals as too stifling. Consumer groups last month joined the chorus of bankers in calling for the rejection of the Basel III proposal over fears that it would strangle credit availability for underserved borrowers.
Persons: Bob Broeksmit, Broeksmit, , They're Organizations: Service, Mortgage Bankers Association, Consumer, Basel III Locations: Basel, San Diego, Washington ,
GENEVA (Reuters) - The killing of three Palestinian men in a hospital in the occupied West Bank last month by Israeli commandos disguised as medical workers and Muslim women may amount to war crimes, a group of U.N. experts said on Friday. The experts concerned are special rapporteurs engaged by the United Nations to examine a specific human rights issue. War in Israel and Gaza View All 194 ImagesIsrael’s military was not immediately available for comment on their statement. The West Bank has seen an explosion of violence since the Hamas-led attack on Israel on Oct. 7 and the subsequent invasion of Gaza by Israel. (Reporting by Emma Farge in Geneva; Additional reporting by Emily Rose in Jerusalem; Editing by Gareth Jones)
Persons: Ibn Sina, prima facie, Emma Farge, Emily Rose, Gareth Jones Organizations: West Bank, Shin, Basel Al, United, Hamas, Jenin Brigade, Islamic, The West Bank Locations: GENEVA, Jenin, Basel, Israel, United Nations, Gaza, headscarves, Palestinian, Geneva, Jerusalem
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