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☆ E.U. Investigates Meta Over Addictive Social Media Effects on Children
▼ + stars: | 2024-05-16 | by ( Adam Satariano | ) www.nytimes.com time to read: +1 min

regulators could ultimately fine Meta up to 6 percent of its global revenue, which was $135 billion last year, as well force other product changes. The investigations are part of a growing effort by governments around the world to rein in services like Instagram and TikTok to protect minors. Meta has for years faced criticism that its products and recommendation algorithms are fine-tuned to hook children. In October, three dozen states in the United States sued Meta for using “psychologically manipulative product features” to lure children, in violation of consumer protection laws. People younger than 13 are not supposed to able to sign up for an account, but E.U.

Persons: Meta Organizations: Facebook, European Commission, United, Meta, Digital Services Locations: United States

☆ Walmart Opens the Year With Stronger Sales and Profit
▼ + stars: | 2024-05-16 | by ( Jordyn Holman | ) www.nytimes.com time to read: +1 min

The Numbers: Sales grew in stores and especially online. Walmart said its comparable-store sales in its U.S. business rose 3.8 percent from the quarter a year earlier. Walmart has performed better than retailers dependent on apparel sales, in part because it also sells essential goods like groceries. Walmart’s quarterly profit, of $5.1 billion, was triple the result a year earlier. The retailer’s stock rose in premarket trading, as investors reacted to last quarter’s results and the company’s upgraded forecast for growth this year.

Persons: ”, David Silverman Organizations: Walmart, Fitch

☆ Warren Buffett finally reveals the mysterious company he’s invested billions of dollars in
▼ + stars: | 2024-05-15 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year. Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the company’s first quarter investments. Buffett, Berkshire’s CEO famous for his investing prowess, has amassed a sizable following of investors who mimic his portfolio moves. The investment in Chubb underscores Berkshire Hathaway’s investment strategy over the past several months. Berkshire also sold 80 million shares of printer company HP in the fourth quarter of 2023, reducing its holdings by 78%.

Persons: Warren Buffett’s Berkshire Hathaway, Chubb, Donald Trump’s, Jean Carroll’s, Buffett, Berkshire’s, Buffett’s, Berkshire Hathaway, Nicole Goodkind Organizations: CNN, Wednesday Securities, Exchange Commission, SEC, Berkshire Hathaway’s, Insurance, Indemnity, American Express, Bank of America, Apple, HP Locations: Berkshire

☆ FDA greenlights self-collection of vaginal samples for cervical cancer screening
▼ + stars: | 2024-05-15 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +6 min

Most cervical cancers are caused by human papillomavirus or HPV, and screening for HPV can help identify women who may be at risk of developing cervical cancer. The US Preventive Services Task Force recommends screening for cervical cancer with cervical cytology every three years for women ages 21 to 29. “Most cervical cancers are found in people who have never had a cervical cancer screening test or who have not had one recently. Screening for cervical cancer remains important because early cases often may not have signs or symptoms. Cervical cancer is treated in many ways, including surgery, chemotherapy and radiation therapy.

Persons: Dickson, BD –, Dr, Karen E, Knudsen, “, Jeff Andrews, ”, Roche, ” Dr, William Dahut, Sanjay Gupta, ” Trena Depel Organizations: CNN, US Food and Drug Administration, Roche, Company, BD, FDA, American Cancer Society, US Preventive Services Task Force, National Cancer Institute, US Centers for Disease Control, ”, CNN Health, Health, Teal Health Locations: United States

☆ Air Force asks for new charges against airman who leaked classified intel on Discord
▼ + stars: | 2024-05-15 | by ( Oren Liebermann | ) edition.cnn.com time to read: +2 min

CNN —US Air Force prosecutors have asked for new charges against the Massachusetts Air National guardsman who pleaded guilty in federal court earlier this year to leaking highly classified intelligence reports and other documents on social media, according to the Air Force. During a hearing at Hanscom Air Force Base in Massachusetts on Tuesday, Air Force prosecutors asked a hearing officer to recommend charges of disobeying an order and obstructing justice against Jack Teixeira under the Uniform Code of Military Justice. CNN reported earlier this month that the Air Force would pursue separate charges under the UCMJ. Teixeira was represented by three military defense counsel, including one of the chief district defense counsels for the Air Force, a spokesperson for the Air Force said. The hearing officer will then make a recommendation on whether to move forward with the recommended charges or change them in some way.

Persons: Jack Teixeira, Military Justice . Teixeira, Teixiera, Teixeira, ”, Daniel DeVoe, CNN’s Kaanita Iyer Organizations: CNN, US Air Force, Massachusetts Air National, Air Force, Hanscom Air Force Base, Military Justice, Prosecutors, Department of Justice, ”, Martial Locations: Massachusetts, Russia, Ukraine, States

☆ Trump Media says it will delay quarterly filing due to auditor change
▼ + stars: | 2024-05-15 | by ( ) edition.cnn.com time to read: +1 min

Trump Media & Technology Group filed a notice to the US Securities and Exchange Commission on Wednesday that it would delay its quarterly filing, just days after the regulator charged its former auditor with fraud. Former US President Donald Trump’s media company said it was unable to complete the review of its financial statement for the quarter ended March 31 due to the timing of its appointment of Semple, Marchal & Cooper as the new auditor. The company dismissed previous auditor BF Borgers, after the SEC charged the accounting firm with “massive fraud” earlier this month. The stock has since then cut its gain to about 5%, giving it a market value of about $7 billion. Truth Social’s revenue was $4.13 million last year, up from $1.47 million in 2022.

Persons: Donald Trump’s, Semple, Cooper, BF, Trump Organizations: Trump Media & Technology Group, US Securities and Exchange Commission, Marchal, SEC, Nasdaq

☆ Uber will now let you book a shuttle to the airport
▼ + stars: | 2024-05-15 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Uber wants to make it cheaper to get a ride to the airport, concerts or sporting events. The rideshare company on Wednesday announced the launch of Uber Shuttle, an offering that will let users book up to five seats in a shuttle from a central location to an event or the airport – for less than the cost of a regular Uber ride. The cost of the shuttle rides won’t be affected by surge pricing, a common affliction when lots of people are looking for rides at the same time. Uber has previously rolled out early shuttle tests, including in India, and as an offering for corporate customers. Uber Shuttle will let riders book up to five seats in a shuttle to the airport or a concert or sporting event, for less than the cost of a regular Uber ride.

Persons: New York CNN — Uber, Uber, Dara Khosrowshahi, Camiel Irving Organizations: New, New York CNN, Wednesday, Uber Shuttle, Costco, Lyft Locations: New York, India, Chicago, Pittsburgh, Charlotte, Miami, New York City, Los Angeles, San Francisco, San Diego, Atlanta, Canada

☆ Netflix and the N.F.L. Sign a Three-Season Deal
▼ + stars: | 2024-05-15 | by ( Nicole Sperling | ) www.nytimes.com time to read: +1 min

On Wednesday, the streaming giant announced a three-season deal with the National Football League that will include showing two Christmas Day games on its service this year. It’s the first time Netflix has become partners with a major sports league, and it likely won’t be the last. The move follows Netflix’s increasingly aggressive push into the business of live events. “There are no live annual events, sports or otherwise, that compare with the audiences N.F.L. football attracts.”The streaming business has matured in the United States, and though Netflix is the dominant service, it still needs to keep growing.

Persons: Tom Brady ”, John Mulaney, Katt Williams, Foke ”, “, Bela Bejaria Organizations: Netflix, National Football League Locations: Los Angeles, United States, America

☆ Burberry’s profit slumps by a third as sales in China plunge
▼ + stars: | 2024-05-15 | by ( ) edition.cnn.com time to read: +2 min

London — British luxury brand Burberry has reported a 34% drop in annual profit after sales fell sharply in China — its biggest market — in the final three months of last year. The company had previously warned that achieving its goal of taking the 168-year-old brand further upmarket, to become the definition of “Modern British Luxury,” had been harder than expected after demand for luxury had slowed. Sales fell 12% in the final quarter, dragged down by a 19% slump in China, and wiping out gains made earlier in the year, Burberry said Wednesday. Sales in London, its home market, declined 17%, which Chief Executive Jonathan Akeroyd blamed on a lack of tax-free shopping for tourists. The world’s largest luxury group, Louis Vuitton owner LVMH, also reported weak sales in its latest quarter as spending on luxury items slowed.

Persons: ”, Burberry, Jonathan Akeroyd, ” Akeroyd, Akeroyd, Hermes, Prada, Kerring, Louis Vuitton, LVMH, Daniel Lee Organizations: London, Burberry, London Fashion Locations: China, London, Paris, Europe, British, Burberry’s, Americas

☆ OpenAI executive is out after key role in CEO Sam Altman’s ouster
▼ + stars: | 2024-05-14 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —OpenAI’s chief scientist and cofounder, who played an instrumental role in CEO Sam Altman’s short-lived ouster from OpenAI in November, announced that he was leaving company on Tuesday. “After almost a decade, I have made the decision to leave OpenAI,” Ilya Sutskever said in a social media post. Sutskever’s role at OpenAI will be filled by Jakub Pachocki, previously the company’s director of research, according to the company. Sutskever played a defining role in OpenAI’s rise to power in the AI scene. In 2019, Altman, Sutskever and Greg Brockman jointly formed OpenAI LP, a for-profit entity within the larger nonprofit company’s structure.

Persons: CNN —, Sam Altman’s, “, ” Ilya Sutskever, ” Sutskever, Sam Altman, OpenAI, Jakub Pachocki, Sutskever, Altman, Kara Swisher, we’ve, Greg Brockman, ” Altman Organizations: CNN, ” Locations: OpenAI, “

☆ OpenAI cofounder Ilya Sutskever is leaving the company 6 months after the failed Sam Altman ouster
▼ + stars: | 2024-05-14 | by ( Erin Snodgrass | Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Read previewOpenAI cofounder and chief scientist Ilya Sutskever is stepping away from the company after almost a decade, he said Tuesday in a post on X, formerly known as Twitter. Sutskever said he is "confident" that the company will continue to build technology that is "both safe and beneficial." This story is available exclusively to Business Insider subscribers. AdvertisementIn his own post on X, Altman said, "Ilya and OpenAI are going to part ways. AdvertisementTwo people familiar with the situation told Business Insider in December that Sutskever had essentially been shut out of OpenAI after the attempt to remove Altman as CEO.

Persons: —, Ilya Sutskever, Sutskever, @sama, Altman, Ilya, OpenAI, Sam Altman Organizations: Service, Business Locations: OpenAI

☆ OpenAI’s Chief Scientist and Co-Founder Is Leaving the Company
▼ + stars: | 2024-05-14 | by ( Cade Metz | ) www.nytimes.com time to read: +1 min

Ilya Sutskever, the OpenAI co-founder and chief scientist who in November joined three other board members to force out Sam Altman, the company’s high-profile chief executive, before saying he regretted the move, is leaving the San Francisco A.I. After returning to OpenAI just five days after he was ousted, Mr. Altman reasserted his control and continued its push toward increasingly powerful technologies that worried some of his critics. Dr. Sutskever remained an OpenAI employee, but he never returned to work. “This is an emotional day for all of us,” Mr. Altman said in an interview. “OpenAI would not exist without him and certainly was shaped by him.”

Persons: Ilya Sutskever, Sam Altman, San Francisco A.I, Sutskever’s, Altman, Sutskever, ” Mr, “ OpenAI, ” Organizations: San Locations: San Francisco, Silicon, OpenAI

☆ Google Takes the Next Step in Its A.I. Evolution
▼ + stars: | 2024-05-14 | by ( Nico Grant | ) www.nytimes.com time to read: +1 min

Last May, Sundar Pichai, Google’s chief executive, said that the company would use artificial intelligence to reimagine all of its products. On Tuesday, at Google’s annual conference in Mountain View, Calif., Mr. Pichai showed how the company’s aggressive work on A.I. Overviews, that generates information summaries above traditional search results. Overviews is likely to heighten concerns that web publishers will see less traffic from Google Search, putting more pressure on an industry that has reeled from rifts with other tech platforms. On Google, users will see longer summaries about a topic, which could reduce the need to go to another website — though Google downplayed those concerns.

Persons: Sundar Pichai, Pichai Organizations: Google Locations: Mountain View, Calif, U.S

☆ Boeing Violated Settlement Over 737 Max Problems, Justice Dept. Says
▼ + stars: | 2024-05-14 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: +1 min

The Department of Justice said on Tuesday that Boeing was in violation of a 2021 settlement related to problems with the company’s 737 Max model that led to two deadly plane crashes in 2018 and 2019. In a letter to a federal judge, the department said that Boeing had failed to “design, implement and enforce” an ethics program to prevent and detect violations of U.S. fraud laws in the company’s operations. Creating that program was a condition of Boeing’s settlement, which also carried a $2.5 billion penalty. The determination by the Justice Department opens the door to a potential prosecution of a 2021 criminal charge accusing Boeing of conspiracy to defraud the Federal Aviation Administration, though Boeing can contest Tuesday’s decision. In a statement, Boeing said that the company believed that it had honored the terms of the settlement, adding that it was looking forward to the opportunity to respond.

Organizations: Justice, Boeing, Justice Department, Federal Aviation Administration

☆ A.I.’s ‘Her’ Era Has Arrived
▼ + stars: | 2024-05-14 | by ( Kevin Roose | ) www.nytimes.com time to read: +1 min

A lifelike artificial intelligence with a smooth, alluring voice enchants and impresses its human users — flirting, telling jokes, fulfilling their desires and eventually winning them over. I’m summarizing the plot of the 2013 movie “Her,” in which a lonely introvert named Theodore, played by Joaquin Phoenix, is seduced by a virtual assistant named Samantha, voiced by Scarlett Johansson. voice assistant at an event in San Francisco. If you ask for a bedtime story, it can lower its voice to a whisper. If you need advice from a sassy friend, it can speak in a playful, sarcastic tone.

Persons: Theodore, Joaquin Phoenix, Samantha, Scarlett Johansson, OpenAI, ChatGPT Organizations: omni Locations: San Francisco

☆ TikTok Creators Sue to Block U.S. Law Requiring Sale or Ban
▼ + stars: | 2024-05-14 | by ( Sapna Maheshwari | ) www.nytimes.com time to read: +1 min

A group of TikTok creators, including a rancher, a skin care entrepreneur and a promoter of biblical literacy, sued the federal government on Tuesday over a new law that would force the app’s Chinese owner, ByteDance, to sell the company or face a ban in the United States. They said it violated their First Amendment rights. TikTok said it was paying the legal fees for the creators’ lawsuit. TikTok pursued a similar legal strategy in 2020, when creators successfully challenged a federal ban, as well as last year in Montana, when creators sued the state after it tried to ban the app. Davis Wright Tremaine, the law firm representing the creators, also represented the app’s creators in Montana last year.

Persons: “, TikTok, Davis Wright Tremaine Organizations: U.S ., Appeals, District of Columbia Circuit Locations: United States, U.S, Montana

☆ Boeing may be prosecuted after breaking safety agreement that prevented criminal charges for 737 crashes, US DOJ says
▼ + stars: | 2024-05-14 | by ( Evan Perez | ) edition.cnn.com time to read: +5 min

CNN —The US Justice Department on Tuesday notified Boeing that it breached terms of its 2021 agreement in which the company avoided criminal charges for two fatal 737 Max crashes. The notification comes as the Justice Department conducts a new investigation into Boeing’s operations in the wake the door plug incident. The earlier deal had resolved a fraud investigation related to the company’s development of its 737 Max aircraft. Under its deferred prosecution agreement from January 2021, Boeing paid $2.5 billion in penalties and promised to improve its safety and compliance protocols. In March, the FAA identified more potential safety issues with the engines of the 737 Max and 787 Dreamliner.

Persons: Max, “, Reed O’Connor, Biden, Paul Cassell, ” Cassell, ” Organizations: CNN, US Justice Department, Boeing, Alaska Airlines, Department of Justice, Justice Department, Max, Lion, Justice, Air Force, Transportation Safety Board, Federal Aviation Administration, FAA Locations: United States, Fort Worth , Texas

☆ Recent college grads are doing shockingly well. Can it last?
▼ + stars: | 2024-05-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

And recent grads aren’t just finding any job, they’re finding good jobs. Not all is well: The EPI study found that racial and gender wage gaps still remain large among recent grads. GameStop shares tripped multiple circuit breakers — a temporary and mandated halt in trading to let investors cool off for a bit. Robinhood denied claims on social media on Monday that it had once again halted GameStop stock purchases on its platform. Robinhood has not shut down the purchase of Gamestop shares,” Robinhood spokesperson Anupriya Ghate said in a statement to CNN.

Persons: it’s, —, Katherine deCourcy, Elise Gould, “, Z, Z’ers, Krystal Hur, Keith Gill, Roaring Kitty, Gill, Robinhood, ”, Anupriya Ghate, ” Shein, Shein, CNN Shein Organizations: CNN Business, Bell, New York CNN, Economic Policy Institute, Stanford Institute for Economic Policy Research, Employers, GameStop, AMC, Partners, AMC Entertainment, Gamestop, CNN, Workers, Public, Public Eye Locations: New York, Black, Swiss, Guangzhou, China

☆ OpenAI Unveils New ChatGPT That Listens, Looks and Talks
▼ + stars: | 2024-05-13 | by ( Cade Metz | ) www.nytimes.com time to read: 1 min

As Apple and Google transform their voice assistants into chatbots, OpenAI is transforming its chatbot into a voice assistant. On Monday, the San Francisco artificial intelligence start-up unveiled a new version of its ChatGPT chatbot that can receive and respond to voice commands, images and videos. system called GPT-4o — juggles audio, images and video significantly faster than previous version of the technology. The app will be available starting on Monday, free of charge, for both smartphones and desktop computers. “We are looking at the future of the interaction between ourselves and machines,” said Mira Murati, the company’s chief technology officer.

Persons: ”, Mira Murati Organizations: Apple, Google Locations: San Francisco

☆ Why are luxury brands waging war on the ‘upcycled’ clothing market?
▼ + stars: | 2024-05-13 | by ( Sarah Kent | ) edition.cnn.com time to read: +10 min

Editor’s Note: This article was originally published by The Business of Fashion, an editorial partner of CNN Style. The design was upcycled from vintage Chanel scarves by stylist Logan Horne, whose brand, J. Logan Home, specializes in refashioning heritage luxury accessories. Fashion brands' legal claims are varied but ultimately boil down to concerns that third parties are free-riding on brands’ valuable IP in ways that could risk confusing consumers, eroding primary sales and tarnishing or diluting carefully cultivated marks. Some big brands, like Prada, Gucci and indeed Levi’s, have already dabbled with upcycling collections and programs of their own. These days, she says she’s having about a conversation a week with brands interested in exploring collaboration, but the industry moves slowly.

Persons: Travis Kelce, Logan Horne, Logan, Webster, They’ve, Chanel, Horne, ”, Susan Scafidi, J, Logan Home’s, Christian Vierig, Louis Vuitton, Levi’s, Jeremy Moeller, Irene Calboli, ” Chanel, des, Batsheva Hay, Monica Schipper, “, Hay, upcycling, I’m, Prada, Gucci, Anna Foster, Gabriela Hearst Organizations: The, Fashion, CNN, NFL, Dua, Law, Paris Fashion, Business of, “, Getty, Logan Home, Texas, M University, Fashion Trust, Business of Fashion, Industry Locations: New York, Texas, Beverly Hills , California, India, Europe

☆ A cartoon on X just sent GameStop shares surging 72%
▼ + stars: | 2024-05-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —The surprise social media return of the trader who helped ignite the meme stock frenzy in 2021 sent GameStop shares skyrocketing Monday. The shares skyrocketed by more than 110% earlier and were halted for volatility several times on Monday morning. GameStop had posted the same cartoon in February, but with a red arrow and chair. Gill described himself as a casual daytime trader in testimony during a 2021 Congressional hearing on the GameStop mania. “The idea that I used social media to promote GameStop stock to unwitting investors is preposterous,” Gill said in written testimony.

Persons: Roaring Kitty, Keith Gill, Gill, Kitty, “ Deepf, ” Gill, “, Paul Dano Organizations: New, New York CNN, GameStop, AMC Entertainment, stoke, “ Locations: New York, GameStop’s

☆ GameStop Shares Surge After ‘Roaring Kitty’ Re-emerges
▼ + stars: | 2024-05-13 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

GameStop’s share price skyrocketed on Monday after the man who became the face of “meme stock” mania in 2021 with his enthusiastic promotion of the struggling video game retailer emerged from a three-year hiatus. On Sunday evening, Keith Gill, the trader known on some social media platforms as Roaring Kitty, posted an illustration of a person holding a video game controller while leaning forward on a chair on X. On no other news, GameStop’s stock more than doubled in early trading, prompting several temporary volatility-related halts by the New York Stock Exchange. The company’s shares approached a two-year high, adding billions in market value in a matter of hours. But even after Monday’s surge, GameStop’s stock remained well below the heights it reached in 2021.

Persons: Keith Gill, Kitty, Gill, Ferris, Ludacris Organizations: New York Stock Exchange, GameStop, AMC Entertainment

☆ OpenAI unveils newest AI model, GPT-4o
▼ + stars: | 2024-05-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

The new model, called GPT-4o, is an update from the company’s previous GPT-4 model, which launched just over a year ago. Rivals including Google and Meta have been working to build increasingly powerful large language models that power chatbots and can be used to bring AI technology to various other products. The OpenAI event came one day ahead of Google’s annual I/O developer conference, at which it’s expected to announce updates to its Gemini AI model. OpenAI executives demonstrate the company's latest large language model, GPT-4o. Free ChatGPT users will have a limited number of interactions with the new GPT-4o model before the tool automatically reverts to relying on the old GPT-3.5 model; paid users will have access to a greater number of messages with the latest model.

Persons: OpenAI, Mira Murati, ” Murati, ChatGPT, “ You’re, Scarlett Johansson, ”, Sam Altman, it’s Organizations: New, New York CNN, Monday, San, Rivals, Google, Gemini, Apple, Worldwide Developers Conference, Microsoft Locations: New York, ChatGPT, San Francisco

☆ GM’s self-driving car unit restarts testing on public roads
▼ + stars: | 2024-05-13 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

CNN —Cruise, General Motors’ autonomous driving technology subsidiary, will start taking its self-driving vehicles out on public roads again this week. The company had stopped testing last October following an incident in San Francisco in which a pedestrian was badly injured. Last October, a Cruise self-driving car, with no one inside, hit a pedestrian after the person had first been struck by another vehicle. After striking the pedestrian, the Cruise vehicle attempted to pull off to the side of the road to avoid causing an obstruction. About two days later, Cruise announced it was halting all operations nationwide while it investigated the incident and the company’s response to it.

Persons: CNN — Cruise, ”, Cruise, Quinn Emanuel Urquhart, Sullivan, ” Cruise, “ Organizations: CNN, Motors, Cruise, California Department of Motor Vehicles Locations: San Francisco, Phoenix , Arizona

☆ At Art Auctions Market Seeks Its Footing After Stumbling Sales and a Hack at Christie’s
▼ + stars: | 2024-05-12 | by ( Zachary Small | Julia Halperin | ) www.nytimes.com time to read: +1 min

Estimates are still soaring past the $20 million mark and canvases still bear the signatures of dependable ringers like Warhol, Basquiat and Picasso. A cyberattack at Christie’s brought down the company’s website on Thursday, and as of Sunday morning, Christie’s had not yet regained control of it, but promised the auctions would proceed, at least in person. (A place-holder website was set up allowing access to the digital catalogs, but did not allow online bidding.) With the site down and questions still unanswered about the fate of confidential data, analysts are uncertain about the impact on buyers and sellers. Over the next week, more than 1,700 works of modern and contemporary art are expected to be offered at the three major houses — Sotheby’s, Christie’s and Phillips — with an estimate of $1.2 billion to $1.8 billion.

Persons: Warhol, Basquiat, Picasso, Christie’s, Phillips Organizations: Christie’s Locations: Christie’s

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