No End to Whiplash in Meme Stocks, Crypto and More

With the pandemic starting to ease in the United States, many had expected a year of wild investments to slow. It hasn’t. Yet.

#amc-entertainment-holding-inc, #bitcoin-currency, #computers-and-the-internet, #dogecoin-project, #finances, #musk-elon, #nonfungible-tokens-nfts, #regulation-and-deregulation-of-industry, #robinhood-financial-llc, #social-media, #special-purpose-acquisition-companies-spac, #stocks-and-bonds, #virtual-currency

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As Money Launderers Buy Dalís, U.S. Looks at Lifting the Veil on Art Sales

Secrecy has long been part of the art market’s mystique, but now lawmakers say they fear it fosters abuses and should be addressed.

#art, #art-dealers-assn-of-america, #auctions, #bouvier-yves, #dali-salvador, #finances, #financial-crimes-enforcement-network-treasury-department, #great-britain, #money-laundering, #philadelphia-pa, #rybolovlev-dmitry-evgenevich, #senate-permanent-subcommittee-on-investigations, #tax-shelters, #united-states-politics-and-government

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Hit Hard by Pandemic, Philadelphia Orchestra and Kimmel Center to Merge

By joining forces, the two institutions hope to bounce back from the severe losses brought by the coronavirus.

#classical-music, #coronavirus-2019-ncov, #coronavirus-reopenings, #finances, #kimmel-center-for-the-performing-arts-philadelphia-pa, #mergers-acquisitions-and-divestitures, #philadelphia-pa, #philadelphia-orchestra, #philadelphia-orchestra-and-the-kimmel-center-inc, #theaters-buildings

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MacKenzie Scott Announces $2.74 Billion in New Grants

Ms. Scott’s wealth has continued to grow thanks to Amazon’s soaring stock price. Forbes estimates her net worth at roughly $60 billion.

#amazon-com-inc, #bezos-jeffrey-p, #finances, #high-net-worth-individuals, #nonprofit-organizations, #philanthropy, #scott-mackenzie

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FEMA Disaster Aid Often Widens Racial Disparities

The federal government often gives less help to Black disaster survivors than their white neighbors. That’s a challenge for President Biden, who has vowed to fight both inequality and climate change.

#black-people, #disasters-and-emergencies, #discrimination, #federal-emergency-management-agency, #finances, #global-warming, #greenhouse-gas-emissions, #hurricanes-and-tropical-storms, #income-inequality, #lake-charles-la, #race-and-ethnicity, #real-estate-and-housing-residential, #research, #whites

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National Endowment for the Arts Funding Would Rise Under Biden Plan

The president’ calls for a 20 percent increase in the national arts budget, a departure from the Trump administration’s efforts to eliminate the agency.

#american-alliance-of-museums, #biden-joseph-r-jr, #culture-arts, #federal-budget-us, #finances, #national-endowment-for-the-arts, #trump-donald-j

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Judge Clears Purdue Pharma’s Restructuring Plan for Vote by Thousands of Claimants

The ruling was a milestone in yearslong efforts to make the OxyContin manufacturer pay for its role in the opioid crisis, but some plaintiffs feel the plan doesn’t go far enough.

#bankruptcies, #drain-robert-d, #drug-abuse-and-traffic, #finances, #oxycontin-drug, #purdue-pharma, #sackler-family, #suits-and-litigation-civil, #your-feed-science

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10 Ways for Museums to Survive and Thrive in a Post-Covid World

That the pandemic did damage to museums is unquestioned but their resilience has been remarkable.

#art, #budgets-and-budgeting, #coronavirus-2019-ncov, #finances, #museums

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Zwirner May Disrupt Art Gallery Model With Click-to-Buy Business

Platform, which debuts Thursday, will sell 100 works of art a month online through smaller galleries, for $2,500 to $50,000.

#art, #collectors-and-collections, #computers-and-the-internet, #e-commerce, #finances, #silverman-jessica-gallery-owner, #zwirner-david

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Donations to India Get Blocked by Modi’s Tough New Rules

International donors are raising millions, but the Modi administration has erected hurdles for overseas organizations and guided money toward officially endorsed groups.

#coronavirus-2019-ncov, #finances, #foreign-aid, #india, #international-relations, #modi-narendra, #philanthropy, #politics-and-government

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David Swensen, Who Revolutionized Endowment Investing, Dies at 67

At Yale, a colleague said, he showed “there was a way to compete hard and well in financial markets, but to have our lives be about something that mattered more.”

#colleges-and-universities, #deaths-obituaries, #economic-recovery-advisory-board, #endowments, #finances, #financial-aid-education, #swensen-david-f, #yale-university

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Eli Broad, Who Helped Reshape Los Angeles, Dies at 87

The businessman, who made a fortune in home-building and insurance, spent lavishly to try to make the city a cultural capital.

#art, #broad-eli, #deaths-obituaries, #finances, #los-angeles-calif, #museums, #philanthropy

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Rising Debt, Falling Income: How to Dig Out

More Americans over age 55 are carrying debt loads, and their nonmortgage debt grew significantly during the pandemic.

#content-type-service, #credit-and-debt, #credit-cards, #elderly, #finances, #personal-bankruptcies, #personal-finances, #quarantine-life-and-culture, #retirement

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A Pandemic Opportunity: Geffen Hall’s Overhaul Accelerates

Dark since March 2020, the New York Philharmonic’s home will reopen in fall 2022, a year and a half ahead of schedule.

#borda-deborah, #classical-music, #coronavirus-reopenings, #finances, #geffen-david, #geffen-david-hall-manhattan-ny, #lincoln-center-for-the-performing-arts, #new-york-philharmonic, #restoration-and-renovation, #timms-henry

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Child Care in Crisis: Can Biden’s Plan Save It?

Child-care centers improvised during the pandemic, scrambling to stay open with razor-thin budgets and little government guidance. How long will the short-term solutions last?

#acca-child-development-center-annandale-va, #california, #child-care, #children-and-childhood, #coronavirus-2019-ncov, #finances, #gender, #kinder-kare-michigan-child-care-centers-inc, #labor-and-jobs, #michigan, #ohana-family-child-care-vista-calif, #ohio, #rockport-early-childhood-center-rocky-river-ohio, #small-business, #united-states, #virginia, #women-and-girls

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As NFTs Soar, Experts Warn of an Unsustainable Bubble

As the prices of blockchain-secured works skyrocket and speculators swoop, experts are warning of an unsustainable bubble.

#art, #auctions, #blockchain-technology, #christies, #collectors-and-collections, #ethereum-foundation, #finances, #hirst-damien, #metakovan-entrepreneur, #nonfungible-tokens-nfts, #rogoff-kenneth-s, #virtual-currency, #winkelmann-mike-beeple

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Leon Black to Step Down as MoMA Chairman

In the wake of protests from artists and activists over his ties to the convicted sex offender Jeffrey Epstein, the investor agreed not to stand for re-election in June.

#ai-weiwei, #apollo-global-management, #appointments-and-executive-changes, #art, #black-leon-d, #dechert-llp, #epstein-jeffrey-e-1953, #finances, #human-trafficking, #lowry-glenn-d, #museum-of-modern-art, #museums, #sex-crimes

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As Coronavirus Hits Vatican Revenue, Pope Cuts Pay for High-Ranking Clerics

The Vatican has been hit hard by the economic impact of the pandemic, prompting Francis to impose pay cuts on cardinals and others so lower-ranking employees can keep their jobs.

#coronavirus-2019-ncov, #finances, #francis, #priests, #vatican-city, #wages-and-salaries

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Basquiat Sells for $41.9 Million at Christie’s in Hong Kong

“Warrior,” a 1982 painting by Jean-Michel Basquiat, leads a week of 20th and 21st century livestreamed auctions at Christie’s and Sotheby’s.

#art, #auctions, #basquiat-jean-michel, #christies, #finances, #hong-kong, #rosen-aby-j

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Inter Milan Is Threatened by Challenges at Suning, Its Chinese Owner

Inter Milan’s Chinese owners spent heavily on big stars, and now it is winning again. But the bill is coming due, putting the team’s future in doubt.

#china, #finances, #inter-milan-soccer-team, #milan-italy, #politics-and-government, #soccer, #suning-appliance-co-ltd, #zhang-jindong

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A Love Letter to My Accountant

My relationship with him is the most positive one I’ve ever had with a man over money.

#accounting-and-accountants, #art, #black-people, #content-type-service, #coronavirus-2019-ncov, #federal-taxes-us, #finances, #quarantine-life-and-culture, #tax-preparers-and-preparation, #writing-and-writers

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Boy Scouts Will Sell Nearly 60 Norman Rockwell Works to Pay Sex-Abuse Claims

The Boy Scouts of America, which is facing more than 82,000 sex-abuse claims, said in a court filing that it would establish a settlement fund of at least $300 million.

#art, #auctions, #boy-scouts, #collectors-and-collections, #finances, #museums, #rockwell-norman, #sex-crimes, #suits-and-litigation-civil

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China’s Retirement Home Industry is Plagued by Ponzi Schemes

Rooms and beds for retirees are in short supply as the population ages, leaving many vulnerable to companies pitching risky investments.

#china, #elder-care, #elderly, #families-and-family-life, #finances, #frauds-and-swindling, #nursing-homes, #population, #real-estate-and-housing-residential, #retirement-communities-and-assisted-living

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New York City’s Arts and Recreation Employment Down 66%, Report Says

The New York State comptroller’s office details the effects of the pandemic’s devastation and says a full recovery would be made only with government assistance.

#coronavirus-reopenings, #culture-arts, #dancing, #dinapoli-thomas-p, #finances, #labor-and-jobs, #museums, #music, #new-york-city, #new-york-state, #politics-and-government, #quarantine-life-and-culture, #shutdowns-institutional, #theater, #theaters-buildings, #wages-and-salaries

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A Donor’s Ties to Epstein Are Criticized at MoMA and Dartmouth

Ai Weiwei and other artists say the investor Leon Black should step down as MoMA’s chairman amid revelations that he paid $158 million to Jeffrey Epstein.

#ai-weiwei, #apollo-global-management, #art, #black-leon-d, #dartmouth-college, #epstein-jeffrey-e-1953, #finances, #goldin-nan, #human-trafficking, #lowry-glenn-d, #museum-of-modern-art, #museums, #nonprofit-organizations, #philanthropy, #quarantine-life-and-culture, #sex-crimes, #steyerl-hito-1966

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Second City Is Sold to Private Equity Group

The comedy company has faced intense criticism over race and had committed to restructuring. The new owner, ZMC, said it would not abandon this plan.

#appointments-and-executive-changes, #black-people, #comedy-and-humor, #finances, #johnston-steve-entertainment-executive, #mergers-acquisitions-and-divestitures, #quarantine-life-and-culture, #second-city, #zelnick-strauss, #zelnickmedia-corp-zmc

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Closed Nearly a Year, Empty Museums in Los Angeles Struggle

While many museums around the country have resumed operations, those in Los Angeles remain an exception. They have been shut since March.

#academy-museum-of-motion-pictures, #art, #coronavirus-risks-and-safety-concerns, #finances, #govan-michael, #hammer-museum, #los-angeles-calif, #los-angeles-county-museum-of-art, #museums, #quarantine-life-and-culture, #san-francisco-museum-of-modern-art

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Facing Deficit, Met Considers Selling Art to Help Pay the Bills

Like many museums, the Met is looking to take advantage of a relaxation of the rules governing art sales to care for collections.

#art, #auctions, #coronavirus-2019-ncov, #finances, #hollein-max, #metropolitan-museum-of-art, #museums

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Everything’s a Joke Until It’s Not

Reddit communities grow powerful in plain sight. Why do they keep taking the world by surprise?

#4chan, #finances, #gamestop-corporation, #reddit-inc, #stocks-and-bonds

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Taking GameStop ‘To the Moon’: Reddit vs. the Elites

This insurgency against the hedge funds isn’t an unequivocal populist win. For some, the point and the money already made is victory enough.

#crowdsourcing-internet, #finances, #gamestop-corporation, #united-states-politics-and-government

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Europe’s Bankruptcies Are Plummeting. That May Be a Problem.

Governments have extended national programs to keep troubled businesses afloat, but the aid may only be postponing a painful reckoning.

#bankruptcies, #coronavirus-2019-ncov, #economic-conditions-and-trends, #finances, #france, #paris-france, #restaurants

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Why It’s So Hard to Cut Waste in Health Care

During the pandemic, people have been getting less medical treatment. That saves money, but it could harm their health, an economist says.

#coronavirus-2019-ncov, #finances, #health-insurance-and-managed-care, #hospitals

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Art Basel, Swiss Centerpiece of the Trade’s Year, Is Postponed

Dealers were looking to the event as a bellwether for a return to normality in the art world.

#art, #art-basel-festival, #art-basel-hong-kong, #art-basel-miami-beach, #auctions, #basel-switzerland, #conventions-fairs-and-trade-shows, #coronavirus-2019-ncov, #finances, #quarantine-life-and-culture, #spiegler-marc

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Entrepreneurs Bet Big on Immersive Art Despite Covid-19

For-profit experiential art centers are investing hundreds of millions of dollars in a business where audiences have evaporated because of the pandemic.

#art, #coronavirus-2019-ncov, #finances, #fotografiska-manhattan-ny-museum, #meow-wolf-art-collective, #museums, #quarantine-life-and-culture, #superblue-holdings-pbc, #teamlab-art-collective

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San Francisco’s Top Art School Says Future Hinges on a Diego Rivera Mural

The University of California is aiding the San Francisco Art Institute, but S.F.A.I. officials say selling a $50 million Rivera could save the school. Former students are outraged.

#art, #boards-of-directors, #budgets-and-budgeting, #colleges-and-universities, #finances, #levy-pam-rorke, #murals, #quarantine-life-and-culture, #rivera-diego, #san-francisco-calif, #san-francisco-art-institute, #university-of-california

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One Hospital System Sued 2,500 Patients After Pandemic Hit

The largest health system in New York, led by a close ally of the governor, continues to sue over medical debt during the Covid-19 crisis, even after other big hospitals suspended lawsuits.

#coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #cuomo-andrew-m, #dowling-michael-j-1949, #finances, #hospitals, #new-york-state, #northwell-health, #suits-and-litigation-civil

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Pope Francis Strips Powerful Vatican Office of Its Financial Assets

A financial scandal involving the secretariat of state has given fresh impetus to Francis’ reform agenda.

#becciu-giovanni-angelo, #finances, #francis, #pell-george-1941, #roman-catholic-church

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Neverland Ranch Is Sold for $22 Million

Ronald W. Burkle, the billionaire co-founder of the investment firm Yucaipa Companies, bought the ranch for a reported $22 million.

#amusement-and-theme-parks, #burkle-ronald-w, #child-abuse-and-neglect, #finances, #jackson-michael, #neverland-ranch, #pop-and-rock-music, #real-estate-and-housing-residential

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A ‘Great Cultural Depression’ Looms for Legions of Unemployed Performers

With theaters and concert halls shuttered, unemployment in the arts has cut deeper than in restaurants and other hard-hit industries.

#actorsfund-of-america, #american-federation-of-musicians, #culture-arts, #dancing, #finances, #koh-jennifer, #labor-and-jobs, #music, #quarantine-life-and-culture, #shutdowns-institutional, #stimulus-economic, #television, #unemployment

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What Will Become of a Tycoon’s Art Gems?

It’s the art world’s new guessing game: Will Sheldon Solow’s paintings and sculptures, conservatively valued at $500 million, be heading to a private museum or to auction?

#acquavella-galleries, #art, #arttactic-ltd, #auctions, #botticelli-sandro, #christies, #collectors-and-collections, #finances, #fonssagrives-solow-mia, #giacometti-alberto, #heller-leila-gallery-manhattan-ny, #income-tax, #manhattan-nyc, #metropolitan-museum-of-art, #picasso-pablo, #solow-sheldon-h

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This Is the Health System That Biden Inherits From Trump

With medical spending down for the first time in decades, gains in care for the poor and vulnerable are under threat.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #finances, #health-insurance-and-managed-care, #hospitals, #income-inequality, #preventive-medicine, #trump-donald-j

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French Soccer Faces Reckoning After TV Deal Collapses

The sudden collapse of a billion-dollar television contract has created a serious cash crisis for French clubs as the January transfer window nears.

#bein-sports-llc, #canal-plus, #finances, #france, #ligue-1-soccer, #mediaproduccion-slu, #soccer, #television, #trades-sports

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A Single Senator Dashes Hopes for Latino and Women’s Museums — For Now

Senator Mike Lee, Republican of Utah, blocked the creation of Smithsonian museums honoring women and Latinos, warning they would worsen societal divides.

#cornyn-john, #feinstein-dianne, #finances, #hispanic-americans, #lee-michael-s-1971, #menendez-robert, #murkowski-lisa, #national-mall-washington-dc, #national-museum-of-the-american-latino, #politics-and-government, #united-states-politics-and-government, #women-and-girls

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Actors Sue SAG-AFTRA Health Plan Over Changes in Insurance

Ed Asner, a seven-time Emmy winner, is the lead plaintiff in the lawsuit filed in Los Angeles on Tuesday; it includes nine other participants.

#actors-and-actresses, #asner-ed, #coronavirus-2019-ncov, #discrimination, #elderly, #finances, #health-insurance-and-managed-care, #los-angeles-calif, #quarantine-life-and-culture, #sag-aftra, #sag-aftra-health-plan, #suits-and-litigation-civil, #television

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Nearly a Third of U.S. Museums Remain Closed by Pandemic, Survey Shows

An industry group says that the financial state of the country’s museums “is moving from bad to worse.”

#american-alliance-of-museums, #coronavirus-2019-ncov, #coronavirus-reopenings, #finances, #layoffs-and-job-reductions, #lott-laura-l, #museums, #quarantine-life-and-culture, #san-diego-natural-history-museum, #united-states

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Leon Black Calls Relationship With Jeffrey Epstein a ‘Terrible Mistake’

Mr. Black, the billionaire chief executive of Apollo Global Management, said others’ continued association with Mr. Epstein had given him “misplaced comfort” in doing business with him.

#apollo-global-management, #black-leon-d, #company-reports, #epstein-jeffrey-e-1953, #finances, #museum-of-modern-art, #private-equity

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U.S. Imposes Sanctions on Qaeda Financier Who Trades in Gems

The action shows that the U.S. government remains concerned about how extremist groups like Al Qaeda and the Islamic State continue to creatively raise and distribute money around the world.

#al-qaeda, #embargoes-and-sanctions, #finances, #islamic-state-in-iraq-and-syria-isis, #talib-ahmed-luqman, #terrorism, #treasury-department, #united-states-politics-and-government

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U.S. Budget Deficit Hit $3.1 Trillion Amid Virus Spending Surge

A surge in spending, combined with falling tax receipts have sent the deficit soaring, complicating plans for additional stimulus.

#federal-budget-us, #federal-taxes-us, #finances, #mnuchin-steven-t, #stimulus-economic, #unemployment, #united-states-economy, #us-dollar-currency

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What a $300,000 College Might Cost a $200,000 Family

More need-based financial aid is available for the affluent than you might expect.

#college-board, #colleges-and-universities, #finances, #financial-aid-education, #personal-finances, #rice-university, #tuition

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Baltimore Museum to Sell 3 Blue-Chip Paintings to Advance Equity

As museum staffs demand social justice in the office, an institution sells off prime works to answer the call. Is this the right way to do it?

#art, #assn-of-art-museum-directors, #auctions, #baltimore-md, #baltimore-museum-of-art, #bedford-christopher, #black-people, #budgets-and-budgeting, #coronavirus-2019-ncov, #finances, #marden-brice, #museums, #sirmans-franklin, #sothebys, #still-clyfford, #walker-darren-1959, #warhol-andy

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