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The $1 billion test for the art market
  + stars: | 2024-05-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe $1 billion test for the art marketThe May sales at the major auction houses are expected to be down 17% from last year, as wealthy buyers and sellers take a breather from the frenzied prices of 2021 and 2022. CNBC's Robert Frank reports.
Persons: CNBC's Robert Frank
Divya Jakatdar imagined that she would spend her senior year of high school celebrating college acceptances with her friends, attending prom and walking across the stage at graduation to the cheers of her family members. Instead, her senior spring arrived at the same time as the coronavirus pandemic. She said goodbye to high school classmates over Zoom; her graduation was a drive-through. Ms. Jakatdar, 21, thought her senior year at the University of Southern California might be a kind of do-over. “It’s a very big hit to morale for the exact class that felt like they lost their high school graduation,” Ms. Jakatdar, the student body president of U.S.C., said a few minutes after getting news that the commencement was off.
Persons: Divya Jakatdar, Jakatdar, Asna Tabassum, Jon M, Chu, Billie Jean King, ” Ms, “ We’ve, Organizations: University of Southern Locations: University of Southern California, Israel
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLuxury real estate sees the biggest increase in three yearsCNBC's Robert Frank reports on the booming part of the housing market.
Persons: Robert Frank
Household wealth reaches an all-time high of $156 trillion
  + stars: | 2024-04-01 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousehold wealth reaches an all-time high of $156 trillionCNBC's Robert Frank reports on the latest news regarding American household wealth.
Persons: Robert Frank
One would-be passenger pretended to pack his carry-on bag with tools, in case he needed to make an in-flight repair. Someone else compared the mere act of boarding a commercial flight to the harebrained, death-defying stunts featured on “Jackass.”“Pray for me, I will have my seatbelt on the entire time,” reads the caption of one TikTok video recorded by an airline passenger as she awaited takeoff. The reason for her concern: Her seat was in the exit row of a Boeing 737 Max. On TikTok and X, users have been sharing videos and memes poking fun at Boeing, one of the world’s leading manufacturers of commercial jetliners — several of which have figured in headline-making incidents in recent weeks. On Monday, the company announced that its chief executive, Dave Calhoun, would be stepping down at the end of the year, capping off a tumultuous tenure that has included groundings, Covid-related disruptions and a dramatic door-panel blowout.
Persons: ” “, Dave Calhoun, Organizations: Boeing
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJeff Bezos becomes the world's richest man again, passing over Tesla CEO Elon MuskCNBC's Robert Frank reports on Amazon founder Jeff Bezos becoming the world's richest man again.
Persons: Jeff Bezos, Elon Musk, Robert Frank Organizations: Tesla, Amazon
Monaco is the most expensive market for prime property, costing over $5,800 per square foot. Knight Frank released its annual wealth report and looked at high-end real estate around the world. Hong Kong, Singapore, London, Geneva, and New York also ranked high for expensive prime property. AdvertisementIn Monaco, where you would need nearly $12.9 million to be in the top 1%, a square foot in a prime property costs over $5,800. Knight Frank defined prime property as "the most desirable and most expensive property in a given location, generally defined as the top 5% of each market by value."
Persons: Knight Frank, Organizations: Monaco, Service, Business Locations: Hong Kong, Singapore, London, Geneva, New York, Monaco
Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth. The number of ultra-high net worth individuals globally is expected to surge by 28% by 2028. AdvertisementAmericans need at least $5.8 million in net worth to be in the top 1% of wealth in their country — less than half of the 1% cutoff for Monaco. Wealth as measured by Knight Frank includes investments, cash, and assets such as residences. In 2022, the median net worth for the top 10th percentile was $2.56 million, whereas net worth was just $14,000 for those in the bottom 20th percentile.
Persons: , Knight Frank, Liam Bailey, Frank, Bailey Organizations: Service, Monaco, US, Federal Reserve's Survey, Consumer Finances, Bank Locations: Monaco, Luxembourg, Switzerland, North America, India, China
For certain social media influencers, brand-sponsored trips are just part of the job. If they’re lucky, they may find themselves admiring the Instagrammably blue waters of the Greek islands, or perhaps the pink sunsets of Bali. But what about endless ocean views from the metal decks of an offshore oil rig? “So, I need to, like, know by tonight, but I got invited on this brand trip,” a young woman told her boyfriend over the phone last week. “It’s with Exxon Mobil.”A new prank on TikTok has prompted dozens of influencers to call their loved ones and tell them some version of the same story: that they have been invited on a brand trip to an oil rig off the coast of Texas, paid for by Exxon Mobil.
Persons: , TikTok, “ That’s, Organizations: Exxon Mobil Locations: Bali, , Texas
Read previewNASA is hiring four people to spend 378 days living inside a simulated Mars habitat in Houston. NASA is looking for people who are "as astronaut-like as possible," said Bell, who also leads NASA's Behavioral Health and Performance Lab. NASA astronaut Frank Rubio with tomatoes growing on the International Space Station. NASA/Lacey YoungIn the Mars simulation, for 378 days, you can't go for a walk outside. JPL/NASAIt's not just experience and stress tolerance that makes a Mars astronaut.
Persons: , Suzanne Bell, Bell, Ross Brockwell, Mars, CHAPEA, Frank Rubio, Koichi Wakata, Lacey Young, Bill Stafford, Go Nakamura, It's, There's, NASA It's, there's, that's Organizations: Service, Crew Health, NASA, Behavioral, Business, Space, Japan Aerospace Exploration Agency, REUTERS, JPL, Getty Locations: Houston
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIRS Commissioner Werfel: Millionaires and billionaires evade more than $150 billion a year in taxesCNBC's Robert Frank reports on a recent crackdown from the IRS.
Persons: Robert Frank Organizations: Millionaires
SANTA CLARA, Calif. (AP) — Steve Wilks has had a roller coaster ride in his first season as defensive coordinator for the San Francisco 49ers. But the season will end with Wilks calling plays in the Super Bowl with the task of slowing down Patrick Mahomes and the Kansas City Chiefs. Wilks then joined the Niners staff, while the Panthers had a 2-15 season and fired coach Frank Reich after 11 games. Wilks is now headed to his third Super Bowl as an assistant coach, having lost previous trips in the 2006 season with Chicago and the 2015 season with Carolina when he was a defensive backs coach. While Wilks is focused on the task at hand, he did take time to send out a message on social media after the Niners won the NFC title game.
Persons: — Steve Wilks, DeMeco Ryans, Wilks, Patrick Mahomes, Jahmyr Gibbs, ” Wilks, We’ve, Kyle Shanahan, John Lynch, Nick Bosa, Fred Warner, , ” Warner, hasn’t, ” Bosa, it’s, , Frank Reich, Lynch, “ He’s, ” Lynch Organizations: San Francisco 49ers, Kansas City Chiefs, NFC, Detroit, Niners, NFL, Ryans, 49ers, Super, Panthers, Chicago, Carolina, Twitter, Warner Locations: SANTA CLARA, Calif, takeaways, Carolina
Moreover, because of how microgravity affects human metabolism, astronauts need a lot more energy to function than people on Earth. The perfect astronaut meal: space saladNASA astronaut Frank Rubio with tomatoes growing on the International Space Station. How it tastesEmily SwaimI decided to make the meal and determine for myself what this space salad of the future would be like to prepare. Therefore, we can calculate approximately how much nutrition astronauts would earn from eating this space salad. AdvertisementIf you wanted to add meat to your space salad, I'd recommend pairing it with a lighter option such as chicken or tuna.
Persons: , Frank Rubio, Koichi Wakata, It's, Emily Swaim, Volker Hessel, who's, Lacey Young, Leland Melvin, Hessel Organizations: Service, NASA, Space, Japan Aerospace Exploration Agency, Food Science & Technology, University of Adelaide, Food Systems Laboratory, International, Getty
The ruling comes in a lawsuit by Democrats that originally sought $2.4 million in damages from all 10 Republicans who submitted a document to Congress falsely declaring Trump as the 2020 election winner in Wisconsin. But Dane County Circuit Judge Frank Remington said they can be questioned, although he put limitations on the Evers interview. The fake elector plan hatched in seven battleground states was central to the federal indictment filed against Trump earlier in August that alleged he tried to overturn results of the 2020 election. Trump's attorney Chesebro, who is a defendant in the Wisconsin lawsuit, pleaded guilty to a felony charge of conspiracy to commit filing false documents after being charged with participating in efforts to overturn Trump’s loss in Georgia. Trump has continued to spread falsehoods about the 2020 election.
Persons: Tony Evers, Donald Trump's, Trump, Jim Troupis, Kenneth Chesebro, Joe Biden’s, Troupis, Evers, Barnes, , , Matthew Fernholz, that’s, ” Fernholz, Frank Remington, Remington, “ I’m, ” Remington, it’s, ” Evers, Biden, Josh Kaul, hasn't, Chesebro Organizations: , — Wisconsin Gov, Democratic, Democrats, Republicans, Gov, The Wisconsin Department of Justice, U.S, Senate, Trump, Government, Biden Locations: MADISON, Wis, — Wisconsin, Wisconsin, Dane, Georgia
Morgan, who has spent the past three seasons as the Panthers' assistant GM, will oversee the personnel operation, the team announced. The team had requested interviews with eight candidates: Giants assistant GM Brandon Brown, Buccaneers assistant GM Mike Greenberg, Chiefs vice president of football operations Brandt Tilis, Eagles assistant GM Alec Halaby, Saints assistant GM Khai Harley, Ravens vice president of football administration Nick Matteo, Colts assistant GM Ed Dodds and Raiders interim GM Champ Kelly. He went on to work as director of player personnel for the Buffalo Bills before returning to the Panthers as assistant GM in 2021. A first-round draft pick in 2001, he helped the Panthers reach their first Super Bowl in 2003, anchoring the middle of the defense. He played seven seasons for Carolina set an NFL record with 25 tackles in the Panthers' Super Bowl loss to the New England Patriots on Feb. 1, 2004.
Persons: CHARLOTTE, Dan Morgan, Morgan, David Tepper, Scott Fitterer, Bryce Young, Dan, ” Tepper, ” Morgan, Tepper, Brandon Brown, Mike Greenberg, Brandt Tilis, Alec Halaby, GM Khai, Nick Matteo, Ed Dodds, Champ Kelly, Frank Reich, Matt Rhule, Ron Rivera, Chris Tabor, Steve Wilks, Perry Fewell, Ben Johnson, Frank Smith, Bobby Slowik, Dave Canales, Brian Callahan, Todd Monken, Dan Quinn, Raheem Morris, Mike Macdonald, Tabor, Ejiro Evero, Young, mightily, Sam Howell, Eddy Pineiro, ___ Organizations: The Carolina Panthers, Panthers, New York Jets, Giants, Buccaneers, Chiefs, Eagles, GM Khai Harley, Ravens, Colts, Raiders, Seattle Seahawks, Buffalo Bills, Carolina, New England Patriots, Pro, Lions, Dolphins, Cowboys, Rams, The Panthers, Cleveland Browns Locations: N.C, Alabama, Carolina
A pipeline that moves methane gas from the Frank R. Bowerman landfill to an onsite power plant is shown in Irvine, California, California, U.S., June 15, 2021. The philanthropies, which include the Bezos Earth Fund, Bloomberg Philanthropies and the Sequoia Climate Foundation, will help accelerate the phase-down of methane emissions and other non-carbon dioxide greenhouse gases. That means that reining in methane emissions can have a more immediate impact in limiting climate change. Research firm Kayrros, which tracks methane emissions, said on Friday that despite the pledge, emissions of methane are not coming down, and in some places, they are even going up. Rapid cuts in methane emissions from fossil fuels could lead to a reduction of 0.1°C in global temperature rise by mid-century," said Antoine Rostand, CEO of Kayrros.
Persons: Frank R, Bowerman, Mike Blake, Bloomberg Philanthropies, , Mia Amor Mottley, “ We’ve, Antoine Rostand, Valerie Volcovici, Frances Kerry Organizations: REUTERS, Rights, Fund, Bloomberg, Sequoia Climate Foundation, U.S, Thomson Locations: Irvine , California , California, U.S, United States, UAE, China, Barbados, EU
MADISON, Wis. (AP) — A judge dismissed on Tuesday a liberal watchdog group's claims that a panel researching the possible impeachment of a Wisconsin Supreme Court justice violated the state's open meeting laws. Republican Assembly Speaker Robin Vos asked former state Supreme Court justices David Prosser, Pat Roggensack and Jon Wilcox in September to advise on whether impeaching current Justice Janet Protasiewicz would be justified. Five days after filing the request the group filed a lawsuit alleging the justices violated the law and demanding records related to their work. Vos filed a motion to dismiss the open meeting violation claims, arguing that under state law American Oversight had to give Ozanne 20 days to refuse or fail to launch an investigation. But American Oversight failed to give Ozanne the time allotted under law to refuse to investigate and therefore was barred from filing a lawsuit, Remington found.
Persons: , group's, Frank Remington, Ismael Ozanne, Remington, Robin Vos, David Prosser, Pat Roggensack, Jon Wilcox, Janet Protasiewicz, Protasiewicz's, Prosser, Wilcox, Vos, Ozanne, Heather Sawyer Organizations: Wisconsin Supreme, American, Republican, GOP, Roggensack Locations: MADISON, Wis, Wisconsin, Dane, Remington
The Carolina Panthers fired their coach on Monday following the team’s NFL-worst 1-10 start in his first year at the helm. Instead, the Panthers are assured of a sixth straight losing season since Tepper bought the team in 2018 for $2.275 billion. Political Cartoons View All 1265 ImagesSpecial teams coordinator Chris Tabor will take over as interim head coach. Tabor will become the fifth head coach or interim head coach since Tepper bought the team. Tabor has never served as an NFL head coach.
Persons: CHARLOTTE, Frank Reich, David Tepper, Tepper, Reich, Bryce Young, Moore, Chris Tabor, Thomas Brown, Jim Caldwell, Tabor, Matt Rhule, Steve Wilks, haven’t, Pete McCulley, Nathaniel Hackett, Urban Meyer, Freddie Kitchens, Ron Rivera, Perry Fewell, Rhule, Wilks, Young, ___ Organizations: The Carolina Panthers, NFL, Panthers, Tennessee Titans, Sunday, Philadelphia Eagles, Indianapolis Colts, Carolina, San, Major League Soccer, Baylor, Chicago Bears, Young Locations: N.C, Carolina, San Francisco, Denver, Jacksonville, Cleveland, Arizona, Charlotte
The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. The SEC move is mandated by the Dodd Frank law, aimed at eradicating behavior seen in the 2008 global financial crisis. The rule is among the last to be adopted under 2010's Dodd Frank Wall Street reform legislation and faced a winding road to completion. Parties covered by the rule include underwriters, placement agents and sponsors for asset-backed securities. The SEC says it will require compliance with the rule for asset-backed securities with closing dates falling 18 months after the rule appears in the Federal Register.
Persons: Andrew Kelly, Dodd Frank, Dodd Frank Wall, Gary Gensler, Hester Peirce, Goldman Sachs, Douglas Gillison, David Gregorio, Marguerita Choy Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, SEC, Republican, Senate, Federal Register, Thomson Locations: Washington ,
“I was inspired by Miami and Sour Patch Kids Watermelon,” said Cliftun, a musician and artist who was in a vibrant pink and green ensemble with some elegant fur. He added, “Spanto always commented on how I always came with crazy fur, so this is for my guy.”Spanto was the nickname for Chris Printup, who died at age 42 in a car accident this June in Albuquerque, the founder of the streetwear brand Born X Raised, which made a name for itself in the Los Angeles fashion scene through collaborations with sports teams including the Dodgers, the Lakers and the Kings. But it was always the locals that carried the brand. On Tuesday, the brand’s annual Sadie Hawkins Winter Formal became a love letter to those who have supported Born X Raised and its founder throughout the years. Guests came decked out in two-piece suits paired with L.A.-embroidered fitted caps, long swaying gowns with nail art to match and mariachi charro-inspired pants.
Persons: , Cliftun, “ Spanto, Spanto, Chris Printup, Sadie Hawkins, L.A Organizations: Dodgers, Lakers Locations: Miami, Albuquerque, Los Angeles
In the end, though, motivated by his fascination with the business side of entertainment, he'd choose a different path: to become an agent at WME, the powerhouse Hollywood talent agency he joined through its storied mailroom training program. Singer advises industry newcomers to read as much as they can to get ahead. WME partner Bradley Singer maintains a list of must-read books and articles for industry newcomers. "When Hollywood Had a King by Connie Bruck" (2004): "You can't understand modern Hollywood without understanding Lew Wasserman, who revolutionized both the talent agency business and the studio business between MCA and Universal. "The Agency: William Morris and the Hidden History of Hollywood" is one of WME partner Bradley Singer's must-read book recommendations.
Persons: Bradley Singer, he'd, Singer, Lydia Barry, Kaitlin Collins, Symone Sanders, Linsey Davis, Sunny Hostin, Ana Navarro, hadn't, — Singer, Read, William Morris, Frank Rose, Connie Bruck, Lew Wasserman, Connie Bruck's, EJ Kahn, Abe Lastfogel, Lastfogel, Sue, Peter Biskind, Sue Mengers, Gene Hackman, Barbra Streisand, Sue …, Mark McCormack —, Swift, McCormack, Wasserman, Ovitz, Emanuel, Bradley Singer's Organizations: Carnegie Mellon University, Bradley, Hollywood, WME, Business, CNN, MSNBC, ABC News, Street Journal Studios, Bloomberg Media, Puck, , MCA, Universal, Lindy's, Yorker, East, Sports, IMG Locations: WME, New York City, Hollywood
This is not to say that her paintings all have the same enviable unity. Schutz attempts something similar in “The Gathering,” which can be read as an allegory of the art world. Nice sentiment, but when the man is a woman her reach for excellence can leave her stretched to death. The seven large-scale sculptures in the show, by the way, also abound with narrative incident, but lack the cleareyed vigor of the paintings. **Tracey Emin, the British artist and brand name, seems like the opposite of Dana Schutz.
Persons: Schutz, Gustave, Schutz’s, Courbet, , ogle, Robert Browning, Tracey Emin, Dana Schutz, Emin Locations: British
Frank Rocco Giustino pleaded guilty in February to a misdemeanor charge related to the Jan. 6, 2021, riot at the Capitol. U.S. District Judge James Boasberg told Giustino that he seemed to have no remorse for his conduct on Jan. 6 or any respect for the court's authority. I think the U.S. marshal should come after you, not me,” Giustino told the judge, punctuating his rant with expletives directed at a prosecutor. Giustino pleaded guilty in February to parading, demonstrating or picketing in a Capitol building, a misdemeanor with a maximum sentence of six months of incarceration. Nearly 900 of them have pleaded guilty or been convicted by juries or judges after trials.
Persons: Trump, profanely, Frank Rocco Giustino, James Boasberg, Giustino, I've, , Prosecutors, “ We’re, ” Giustino, punctuating, expletives, Attorney Douglas Collyer, , ” Collyer, Joe Biden's, Organizations: WASHINGTON, U.S . Capitol, U.S, District, Capitol, Attorney, Facebook, Trump, Republican, Washington , D.C Locations: York, U.S, Florida, Washington ,
White House press secretary Karine Jean-Pierre said the president's age should not be a primary focus. “What we say is we have to judge him by what he’s done, not by his numbers,” Jean-Pierre said. “I would put the president’s stamina, the president’s wisdom, ability to get this done on behalf of the American people, against anyone. Political Cartoons View All 1260 Images“By the way, it’s my birthday today,” Biden told a crowd on the White House South Lawn as he pardoned Thanksgiving turkeys Liberty and Bell. Jean-Pierre said Monday that the Bidens would spend the president's birthday as they traditionally have, with a family gathering for Thanksgiving on Nantucket, and that they planned to have coconut cake, another tradition.
Persons: Joe Biden, Karine Jean, Pierre, it’s, , Biden, he’s, ” Jean, Pierre said, , ” Biden, Donald Trump, Trump, , Bruce A, Aronwald, David Axelrod, Barack Obama, ” Axelrod, Maureen Dowd, They’ve, Hillary, Hillary Clinton, Jean, ” “ I'm, “ It's, “ We’re, Jill Colvin Organizations: WASHINGTON, White, U.S, Bell, Associated Press, NORC, for Public Affairs Research, New York Times, Trump Locations: Ukraine, Israel, U.S, New Jersey, Nantucket, New York
CNN —The Chicago Bears edged past the Carolina Panthers in a low-scoring affair on Thursday, a win which boosts their chances at the top pick in next year’s NFL Draft. The Bears were without starting quarterback Justin Fields for Thursday’s game through injury, with undrafted rookie Tyson Bagent once again starting in his place. In his first game since being traded from the Washington Commanders, Sweat had a team-high eight pressures in the game. Thursday’s game was another tough outing for the Panthers QB, who finished with 21-of-38 passing for 185 yards and no touchdowns. The victory moves to Chicago to 3-7 on the season, two games clear from Carolina’s league-worst record.
Persons: D’Onta Foreman, Eddy Pineiro, Bryce Young –, Caleb Williams, Carolina’s Drake Maye, Justin Fields, Tyson Bagent, Bagent, Foreman’s, Montez, Sweat, Young, , Frank Reich, Ihmir Smith, Marsette, Carolina’s, Smith, Quinn Harris, Foreman, Christian McCaffrey, Don’t, ” Foreman, we’ve Organizations: CNN, Chicago Bears, Carolina Panthers, NFL, Bears, Chicago, Panthers, Shepard University, Washington, Pineiro, Carolina, San Francisco 49ers Locations: Chicago, Carolina
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