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Mr. Close, best known for his monumental photorealist portraits, had not yet found his style and was painting in an expressionist mode heavily influenced by Willem de Kooning. Mr. Close sued on free speech grounds. His lawyer, in what became a well-known First Amendment case, argued that “art is as fully protected by the Constitution as political or social speech.”The lawyer was Mr. Silver, future poodle owner. Mr. Silver prevailed in court, then lost on appeal. Mr. Close, who later dismissed the exhibition as “sort of transitional work,” lost his job.
Persons: Herman, Chuck Close, , , Willem de Kooning, Bob Dylan, Close, Silver Organizations: University of Massachusetts Amherst, New Locations: New York,
July 18 (Reuters) - The European Union (EU) said on Tuesday that Europe's slave-trading past inflicted "untold suffering" on millions of people and hinted at the need for reparations for what it described as a "crime against humanity". The idea of paying reparations or making other amends for slavery has a long history but the movement is gaining momentum worldwide. EU and CELAC agreed on one paragraph that acknowledged and "profoundly" regretted the "untold suffering inflicted on millions of men, women and children as a result of the transatlantic slave trade". It said slavery and the transatlantic slave trade were "appalling tragedies ... not only because of their abhorrent barbarism but also in terms of their magnitude". The CARICOM reparations commission "sees the persistent racial victimisation of the descendants of slavery and genocide as the root cause of their suffering today", the plan said.
Persons: Ralph Gonsalves, Saint Vincent, CELAC's, CELAC, Dutch King Willem, Alexander, King Charles, Marcelo Rebelo de Sousa, Catarina Demony, Belen Carreno, Andrew Gray, Grant McCool Organizations: European Union, EU, of, Caribbean, Caribbean Community, Thomson Locations: Portugal, Brazil, Caribbean States, Brussels, Grenadines, Dutch, Netherlands
They Know the Blessing and Curse of Warhol and Basquiat
  + stars: | 2023-07-11 | by ( Arthur Lubow | ) www.nytimes.com   time to read: +1 min
Using her bare breasts as paintbrushes, Berlin, beginning in the ’70s, made “tit prints,” in which her pigment-laden aureoles produced forms that resemble balloons and angelfish. Even more scandalous are three of the chapbooks in which she kept drawings she cajoled artists into making of their penises. She was making the ‘tit prints’ without thinking of burning her bra. What really matters is what is in the work.”Like Powell, Berlin in many of her Polaroids documented the Warhol entourage. The show concludes with homages to Berlin made by artists today, including Francesco Clemente, Jenna Gribbon and Jane Kaplowitz.
Persons: Jasper Johns, Leonard Cohen, Dennis Hopper, Robert Smithson, Brice Marden, ” Gingeras, , , Warhol, Gingeras, Willem de Kooning, John Cage, Francesco Clemente, Jenna Gribbon, Jane Kaplowitz Locations: Berlin, Powell
[1/4] Dutch Prime Minister Rutte arrives at the Huis ten Bosch Palace to meet with Dutch King Willem-Alexander in The Hague, Netherlands July 8, 2023. REUTERS/Piroschka van de WouwTHE HAGUE, July 8 (Reuters) - Dutch Prime Minister Mark Rutte is due to meet King Willem-Alexander on Saturday, to discuss a caretaker administration the day after his centre-right government collapsed following a row on migration policies. Rutte, 56, in power since 2010, is already the Netherlands' longest serving prime minister. The crisis in Dutch politics came after Rutte's conservative VVD party pushed to limit the flow of asylum seekers to the Netherlands. Farmers' protest party BBB became the biggest party in the March provincial elections which determine the make-up of the Dutch senate.
Persons: Rutte, Dutch King Willem, Alexander, Wouw, Mark Rutte, King Willem, it's, Stephanie van den Berg, Ros Russell Organizations: Dutch, Bosch, REUTERS, Christian Union, Vox, BBB, Thomson Locations: The Hague, Netherlands, HAGUE, Dutch, Rutte, Spain, Farmers
King apologises for Netherlands' historic role in slavery
  + stars: | 2023-07-01 | by ( ) www.reuters.com   time to read: +2 min
[1/6] Dutch King Willem-Alexander speaks at an event to commemorate the anniversary of the abolition of slavery by the Netherlands, in Amsterdam, Netherlands, Saturday, July 1, 2023. The king apologised for the royal house's role in slavery and asked for forgiveness. Peter Dejong/Pool via REUTERSAMSTERDAM, July 1 (Reuters) - Dutch King Willem-Alexander on Saturday apologised for the Netherlands' historic involvement in slavery and the effects that it still has today. The apology comes amid a wider reconsideration of the Netherlands' colonial past, including involvement in both the Atlantic slave trade and slavery in its former Asian colonies. Willem-Alexander apologised in Indonesia in 2020 for "excessive violence" during Dutch colonial rule.
Persons: King Willem, Alexander, Peter Dejong, Keti, Willem, Mark Rutte, Rutte, Orange, Toby Sterling, Jason Neely, Louise Heavens Organizations: REUTERS, Dutch State, Royal House, Royal, Thomson Locations: Netherlands, Amsterdam, REUTERS AMSTERDAM, Caribbean, Amsterdam's, Indonesia, Dutch, East India
CNN —Dutch King Willem-Alexander on Saturday apologized for the Netherlands’ historic involvement in slavery and the effects that it still has today. “On this day that we remember the Dutch history of slavery, I ask forgiveness for this crime against humanity,” he said. Spectators react after King Willem-Alexander apologized for the royal house's role in slavery at an event to commemorate the anniversary of the abolition of slavery by the Netherlands on Saturday. The apology comes amid a wider reconsideration of the Netherlands’ colonial past, including involvement in both the Atlantic slave trade and slavery in its former Asian colonies. Willem-Alexander apologized in Indonesia in 2020 for “excessive violence” during Dutch colonial rule.
Persons: King Willem, Alexander, , Koti, Peter Dejong, Willem, Mark Rutte, Rutte, Orange Organizations: CNN, Royal House, Royal Locations: Netherlands, Caribbean, Amsterdam’s Oosterpark, Indonesia, East India
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHSBC: The Bank of Japan will need to get more hawkish and the yen will start to stallWillem Sels, global chief investment officer at HSBC, discusses global market sentiment and looks at how major central banks are faring.
Persons: Willem Sels Organizations: HSBC, The Bank of Locations: The Bank of Japan
Brigid Berlin, a fixture of the downtown art world in the ’60s and ’70s, will be forever associated with Andy Warhol — the Factory superstar played Duchess, a version of herself as a lesbian drug dealer, in Warhol and Paul Morrissey’s 1966 film “Chelsea Girls” — but three years after her death in 2020, a new exhibition considers Berlin’s art in its own right. “Brigid really was an innovator when you think of the way she used persona as a medium,” says Alison M. Gingeras, who has curated “Brigid Berlin: The Heaviest,” at New York’s Vito Schnabel Gallery, which examines the artist’s life, from her tony uptown upbringing to her secluded later life, with the wild times in between. “For too long she has been pushed into the footnotes.” In a room that features the same wallpaper as Berlin’s Murray Hill apartment, visitors can peruse photos and letters from her childhood. “Brigid Berlin: The Heaviest,” is on view through Aug. 18, vitoschnabel.com. Stay HereA Hygge Homestay in Seoul
Persons: Brigid Berlin, Andy Warhol, Warhol, Paul Morrissey’s, “ Brigid, , Alison M, Gingeras, New York’s Vito Schnabel, tony, Murray, Honey Berlin, Robert Rauschenberg, Willem de Kooning, Larry Rivers, “ Brigid Berlin Organizations: Factory, Chelsea Girls ”, Max’s, Locations: New, Max’s Kansas City, Seoul
It's not even midyear yet, but the full gamut of scenarios has been juggled in just five months. World markets have swung from "hard landing" fears of late 2022 to the "soft landing" hopes of the new year and then even unnerving thoughts of "no landing" at all - just before the banking stress hit of March forced them to return to square one. "The economy is more resilient than the market realizes," BlackRock's Chief Executive Larry Fink said on Wednesday, adding more interest rates rises will be necessary but that he saw no "evidence that we're going to have a hard landing." A "soft landing" typically relates to the ability of the Federal Reserve and other central banks to get inflation back close to 2% targets without crashing the economy into a deep contraction with surging unemployment via extreme rate rises. If correct - and not all agree - the prospect of a sustained return to 2% inflation targets would surely turn off the seatbelt sign.
Persons: Larry Fink, Willem Sels, Simona Mocuta, Mocuta, Mike Dolan, Lisa Shumaker Organizations: Federal Reserve, Reuters Graphics Reuters Graphics, HSBC Global Private Banking, Nasdaq, Street Global Advisors, Reuters Graphics Reuters, Reuters, Twitter, Thomson Locations: U.S, Wall, United States, Europe
But as some argue, in its quest to avoid another taper tantrum, the Fed delayed that two-pronged tightening too long, which has partly contributed to the stickiness of inflation today. This lengthy buildup may have averted another taper tantrum, but tied the Fed's hands on raising rates even as inflation was roaring back. Markets thought this not only meant the Fed would soon "taper" its bond purchases, but also raise interest rates. The Fed and markets have learned their lessons from the taper tantrum. Maybe the taper tantrum illustrates that it wasn't as planned and consistent as it should have been," he said.
Dutch celebrate King's Day as confidence in monarchy diminishes
  + stars: | 2023-04-27 | by ( ) www.reuters.com   time to read: +2 min
[1/5] King Willem-Alexander and Queen Maxima of the Netherlands pose with their daughters, Princess Ariane and Princess Catharina-Amalia, during King's Day (Koningsdag) in Rotterdam, Netherlands, April 27, 2023. REUTERS/Piroschka van de WouwROTTERDAM, April 27 (Reuters) - Millions of Dutch revellers took to the streets on Thursday to celebrate King's Day festivities, dressing in orange and enjoying open-air markets - even as trust in the man at the centre of the nationwide party sinks to a low ebb. These numbers had held firm at around 75% until the start of the COVID-19 pandemic in 2020. The historic centres of Amsterdam, Utrecht and The Hague have been filled with thousands of people since late on Wednesday as King's Eve parties kicked off the festivities. Reporting by Bart Meijer; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.
Twitter added paid checks to accounts of dead celebrities like Kobe Bryant and Anthony Bourdain. The rights to Monroe's likeness and intellectual property sold to Authentic Brands Group for an estimated $20-30 million in 2011, the outlet reported. In 2013, shortly after Authentic Brands Group acquired the rights to Monroe's image, she became a spokesperson for Chanel No. Authentic Brands Group, which also owns the rights to Elvis Presley and Muhammad Ali's brands, did not immediately respond to Insider's request for comment. The marketing group is run by Jamie Salter, the billionaire entrepreneur who co-founded Hilco Consumer Capital.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic outlook is ‘very lackluster’ but don’t be too bearish on equities, HSBC CIO saysWillem Sels, global chief investment officer at HSBC Private Banking, discusses the twists and turns in financial markets since the start of 2023 and shares his outlook for the remainder of the year.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets are still underestimating the impact of China's reopening, CIO saysWillem Sels, global chief investment officer for global private banking and wealth at HSBC, discusses the worldwide effects of China's reopening and low valuations across China and ASEAN.
London CNN —One of the main jobs of central banks is to keep prices under control, allowing households and businesses to plan for the future with some certainty on what things will cost. Tolga Akmen/EPA-EFE/ShutterstockPolicymakers face difficult questions about exactly when to pause interest rate hikes. The European Central Bank’s main rate is 2%, while the Bank of England’s is 3.5%. Still, investors are becoming increasingly confident that major central banks will change course soon. “Central banks are relatively close to the end,” Sels said.
It would supersede a 2018 law that limited the work week to 52 hours - 40 hours of regular work plus 12 hours of overtime. For counting periods of a month or longer, up to 29 hours a week of overtime would be allowed, for a total of 69 work hours in one week. In a statement, the Korean Women's Associations United said "only regulations like the 52-hour workweek and pressure from labour unions can protect workers from long working hours". Extending working hours, even temporarily, affects women more than men, said Lee Min-Ah, Professor of Sociology at Chung-Ang University. Other workers say the new plan ignores a lot of the cultural and social nuances of work in South Korea.
People communicate with each other at the Congress Center for the World Economic Forum WEF Annual Meeting 2023 in Davos, Switzerland, Jan. 15, 2023. DAVOS, Switzerland – U.S. lawmakers quietly took part in a private ritzy lunch atop the World Economic Forum on Monday featuring dozens of influential business leaders, according to people with direct knowledge of the matter. Joe Manchin, D-W.Va., Chris Coons, D-Del., Kyrsten Sinema, I-Ariz. and a few members of the House of Representatives, these people explained. Coons, Manchin, Sinema and Kemp are among the U.S.-based officials scheduled to participate in panel sessions at this year's conference. These private events on the sidelines of the World Economic Forum often serve as meet-and-greets between CEOs, billionaires and government officials.
AMD, Marvell Technology Name New CFOs
  + stars: | 2023-01-12 | by ( Kathryn Hardison | ) www.wsj.com   time to read: +1 min
Marvell Technology Inc. has appointed Willem Meintjes as its chief financial officer, succeeding Jean Hu as she takes on the CFO role for Advanced Micro Devices Inc.Mr. Meintjes will assume the position on Jan. 20, Marvell Technology said Wednesday. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. PREVIEW Ms. Hu will become the CFO and executive vice president at Advanced Micro Devices on Jan. 23, according to a separate announcement. Mr. Meintjes has served as Marvell’s chief accounting officer and treasurer since 2018. He joined the company in 2016 as a senior vice president of finance.
There's a strong interest from acquirers in hot trends like commerce media and data consultancy. Experts predicted the companies most likely to be acquirers of advertising businesses in 2023. Many industry observers expect advertising industry M&A deal volume and value to be down next year due to volatile macroeconomic conditions. Experts across the advertising industry — from consultants, to agency executives, analysts, investors, and adtech leaders — named the companies likely to be active in the advertising M&A market in 2023 and why. Apple could make an under-the-radar adtech acquisition for its sleeping giant advertising businessIndustry insiders predict Apple has big plans for its $5 billion-and-growing advertising business next year.
[1/8] Dutch Prime Minister Mark Rutte responds to recommendations from a panel of experts to accept the role of the Netherlands in the history of slavery and its current consequences in The Hague, Netherlands December 19, 2022. "Today I apologise," Rutte said in a nationally televised speech at the Dutch National Archives. "For centuries the Dutch state and its representatives have enabled and stimulated slavery and have profited from it," he added. "It is true that nobody alive today bears any personal guilt for slavery...(however) the Dutch state bears responsibility for the immense suffering that has been done to those that were enslaved and their descendants." The panel said that Dutch participation in slavery had amounted to crimes against humanity and in 2021 recommended an apology and reparations.
The U.S. central bank hiked rates by 50 basis points (bps) on Wednesday, slowing down from four back-to-back 75 bps hikes, although Fed Chair Jerome Powell said recent signs of slowing inflation have not brought any confidence yet that the fight had been won. The Fed's policy-setting committee projected it would continue raising rates to above 5% in 2023, a level not seen since a steep economic downturn in 2007. Money market participants currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% by May next year, before falling to around 4.4% by year-end. Wall Street's main indexes have staged a strong recovery since hitting 2022 lows in October on hopes of a less aggressive Fed, but the rally stalled in December due to mixed economic data and worrying corporate forecasts. Tesla Inc (TSLA.O) fell 2.9% after CEO Elon Musk disclosed another $3.6 billion in stock sales, taking his total near $40 billion this year and frustrating investors as the company's shares wallow at two-year lows.
Investors currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% by May next year, before falling to around 4.4% by year-end. Both central banks are expected to hike borrowing costs by 50 bps. Shares of megacap companies, including Apple (AAPL.O), Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O) and Nvidia Corp , fell between 1.1% and 2.1% in premarket trading. Trade Desk Inc (TTD.O) slipped 4.1% after Jefferies downgraded its rating for the adtech firm to "hold" from "buy". Reporting by Sruthi Shankar and Ankika Biswas in Bengaluru; Editing by Savio D'Souza and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
The Fed's policy-setting committee projected it would continue raising rates to above 5% in 2023, a level not seen since a steep economic downturn in 2007. Money market participants currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% in the first half, before falling to around 4.4% by the year end. Wall Street's main indexes have staged a strong recovery since hitting 2022 lows in October on hopes of a less aggressive Fed, but the rally stalled in December on the back of mixed economic data and worrying corporate forecasts. Investors also digested economic data on Thursday that showed a steeper-than-expected decline in retail sales in November and the number of Americans filing for unemployment benefits falling last week, indicating a tight labor market. The S&P index recorded no new 52-week highs and four new lows, while the Nasdaq recorded 24 new highs and 120 new lows.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHSBC upgrading Chinese stocks after ‘change in tone’ on Covid, says CIOWillem Sels, HSBC's global chief investment officer, says 'peak bearishness' on Chinese stocks has passed.
Dutch crown princess Amalia under heightened security
  + stars: | 2022-10-13 | by ( ) www.reuters.com   time to read: +2 min
AMSTERDAM, Oct 13 (Reuters) - Dutch Crown Princess Catharina-Amalia is under heightened security due to concern that she could be targeted by criminals, Dutch news agency ANP reported on Thursday, citing her parents. "She can hardly leave the house," ANP quoted Queen Maxima as saying during a state visit to Sweden with her husband King Willem-Alexander. Register now for FREE unlimited access to Reuters.com RegisterLast month, several Dutch media outlets reported that the princess, whose formal title is Princess of Orange, was under heightened security due to fears that criminal gangs may target her for kidnapping or an attack. Dutch police and the country's secret service have declined to discuss security arrangements around the Royal House. Dutch Prime Minister Mark Rutte on Thursday evening said he could not specify the details of the threats.
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