Francis Bacon painting sells for record $142.4 million in New York

November 13, 2013

Francis_Bacon

New York, Nov 13: Francis Bacon's three-paneled painting " Three Studies of Lucian Freud" became the most expensive work of art ever sold at auction on Tuesday when it soared to $142.4 million at Christie's.

The 1969 triptych, never before offered at auction and which carried a pre-sale estimate of about $85 million, easily eclipsed the $119.9 million price of Edvard Munch's "The Scream," achieved in May of last year at Sotheby's. The previous record for a Bacon work of art was $86.3 million set in 2008.

The monumental painting depicts the Dublin-born painter's friend and fellow artist Lucian Freud on a chair, with a view from each side and one face-on. Christie's called it "a true masterpiece that marks Bacon and Freud's relationship" and their "creative and emotional kinship."

With bidding starting at a whopping $80 million, it sold after a protracted bidding war both in the packed New York salesroom and via telephone. Christie's did not disclose the identity of the successful buyer.

"Three Studies of Lucian Freud" is also one of only two existing full-length triptychs of Freud, a grandson of the founder of psychoanalysis Sigmund Freud, and the three panels were separated for 15 years in the 1970s before being reunited, Christie's said.

The auction also set another significant record, for a price achieved at auction by any living artist, when Jeff Koons's large sculpture, "Balloon Dog (Orange)," fetched $58.4 million, beating the high pre-sale estimate and smashing the old mark for a living artist of $37.1 million set by Gerhard Richter's "Domplatz, Mailand (Cathedral Square, Milan)" earlier this year.

Auction officials have said that new, deep-pocketed collectors from around the globe are driving prices for top-tier works to record levels.

At a recent preview, Christie's head of postwar and contemporary art, Brett Gorvy, noted that collectors from Asia, Russia and the Mideast flush with cash were determined to assemble world-class collections featuring trophy works.

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News Network
April 8,2020

Washington, Apr 8: President Donald Trump has threatened to put a "very powerful" hold on US' funding to the World Health Organization, accusing the UN agency of being "very China centric" and criticising it for having "missed the call" in its response to the coronavirus pandemic.

Trump slammed the global health agency for its early guidance aimed at countering the international spread of the coronavirus.

"We're going to put a hold on money spent to the WHO. We're going to put a very powerful hold on it and we're going to see. It's a great thing if it works. But when they call every shot wrong, that's no good," Trump told reporters at his daily White House news conference on Tuesday.

The Geneva-headquartered World Health Organization (WHO), receives vast amounts of money from the United States.

"We pay for a majority or the biggest portion of their money. They actually criticized and disagreed with my travel ban at the time I did it. They were wrong. They've been wrong about a lot of things. They had a lot of information early and they didn't want to - they're very - they seem to be very China centric," Trump said.

The president said his administration was going to look into the US funding to the WHO.

"We give a majority of the money that they get, and it's much more than the USD 58 million. USD 58 million is a small portion of what they've got over the years. Sometimes they get much more than that. Sometimes it's for programs that they're doing, and-it's much bigger numbers. If the programmes are good, that's great as far as we're concerned," he said.

"But we want to look into it, WHO, because they called it wrong. They (WHO) called it wrong. They missed the call. They could've called it months earlier. They would have known and they should have known and they probably did know. So, we'll be looking into that very carefully, and we're going to put a hold on money spent to the WHO," Trump said.

Meanwhile, Senator Jim Risch, chairman of Senate Foreign Relations Committee, called for an independent investigation into the WHO's handling of the COVID-19 response.

"The WHO has failed not only the American people, it has failed the world with its flagrant mishandling of the response to COVID-19," said Risch.

WHO Director general Tedros Adhanom Ghebreyesus' apparent unwillingness to hold the Chinese Communist Party to even the minimum standard of global health and transparency hindered the world's ability to blunt the spread of this pandemic, he said.

"It is completely unacceptable that the world's global health organization has become a political puppet of the Chinese government," he alleged, adding that "an independent investigation into the WHO's handling of the COVID-19 response is imperative."

The United States is the largest contributor to the WHO.

"Our valuable tax payer dollars should go towards investments to prevent the spread of disease, not to aid and abet cover-ups that cost lives and isolate portions of the world's population on political grounds, as has been the case with Taiwan," Senator Risch said.

A bipartisan group of nearly two dozen lawmakers announced Tuesday to introduce a resolution to defund the WHO until Ghebreyesus resigns and an international commission investigates the organisation's role in covering up the Chinese Communist Party's failed COVID-19 response.

"The WHO helped the Chinese Communist Party hide the threat of COVID-19 from the world and now more than 10,000 Americans are dead, a number that is expected to rise dramatically in the coming weeks," Congressman Guy Reschenthaler alleged.

"The United States is the largest contributor to WHO. It is not right that Americans' hard-earned tax dollars are being used to propagate China's lies and hide information that could have saved lives. This bill will hold the WHO accountable for their negligence and deceit," he asserted.

The United States' intelligence community has reported that the Chinese government hid the threat of COVID-19 and, as a result, made it difficult for the rest of the world to respond early, appropriately and aggressively, said Congressman Fred Keller.

"For reasons beyond understanding, the WHO acted as a silent partner in this effort instead of protecting the lives of millions across the world, including hundreds of thousands of American citizens. Our hard-earned tax dollars should not go to a global organization more concerned with not offending the Chinese government than providing accurate information and protecting innocent lives," Keller said.

Senator Marco Rubio accused the Chinese Communist Party of using WHO "to mislead the world."

"The organisation's leadership is either complicit or dangerously incompetent. I will work with the Trump Administration to ensure that WHO is independent and has not been compromised by the CCP before we continue our current funding, he added.

According to Johns Hopkins University, there are over 1.43 million confirmed coronavirus cases across the world and over 82,000 people have died due to the disease. The US has nearly 400,000 infections, the highest in the world.

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Agencies
February 25,2020

Washington, Feb 25: Democratic presidential front-runner Senator Bernie Sanders on Monday slammed President Donald Trump for selling weapons to India, saying that the US should instead partner with New Delhi to fight climate change to save the planet.

Sanders, who has won the Nevada and New Hampshire primaries and tied in Iowa, made the comments after Trump, who is on a two-day visit to India, on Monday announced that the US will sign defence trade deals worth USD 3 billion with India.

In an address at a massive "Namaste Trump" rally at Motera stadium in Ahmedabad, Trump announced that deals to sell state-of-the-art military helicopters and other equipment worth over USD 3 billion will be sealed with India on Tuesday.

“Instead of selling USD 3 billion in weapons to enrich Raytheon, Boeing and Lockheed, the United States should be partnering with India to fight climate change,” Sanders said in a tweet, the first by a Democratic presidential candidate on Trump's India visit.

“We can work together to cut air pollution, create good renewable energy jobs, and save our planet,” he said.

However, a former White House official defended the US' decision to sell arms and weapons to India.

“I'm proud of my service in the White House, in which we poured enormous energy into deepening climate and green tech cooperation w/ India... and also advancing security cooperation and defense sales. I'd like to think both can be part of a strong, values-based partnership,” Joshua White said.

According to the US State Department, India plays a vital role in the US vision for a free and open Indo-Pacific.

In 2016, the US designated India as a Major Defence Partner. Commensurate with this designation, India in 2018 was granted Strategic Trade Authorization tier 1 status, which allows New Delhi to receive license-free access to a wide range of military and dual-use technologies that are regulated by the Department of Commerce.

Bilateral defence trade with India in a little over a decade has increased from near zero in 2008 to USD20 billion.

Among some of the key foreign military sales notified to Congress include MH-60R Seahawk helicopters (USD2.6 billion), Apache helicopters (USD2.3 billion), P-8I maritime patrol aircraft (USD3 billion), and M777 howitzers (USD737 million).

India was the first non-treaty partner to be offered a Missile Technology Control Regime Category-1 Unmanned Aerial System – the Sea Guardian UAS manufactured by General Atomics.

The State Department is also advocating for the Lockheed Martin F-21 and Boeing F/A-18 – two state of the art fighter aircraft that India is currently evaluating.

These platforms provide critical opportunities to enhance India's military capabilities and protect shared security interests in the Indo-Pacific region, it argued.

The top categories of DCS to India include aircraft, electronics and gas turbine engines.

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News Network
April 10,2020

Melbourne, Apr 10: Scientists have identified six drug candidates from more than 10,000 compounds that may help treat COVID-19.

The research, published in the journal Nature, tested the efficacy of approved drugs, drug candidates in clinical trials and other compounds.

"Currently there are no targeted therapeutics or effective treatment options for COVID-19," said Professor Luke Guddat from the University of Queensland in Australia.

"In order to rapidly discover lead compounds for clinical use, we initiated a programme of high-throughput drug screening, both in laboratories and also using the latest computer software to predict how different drugs bind to the virus," Guddat said.

The project targeted the main COVID-19 virus enzyme, known as the main protease or Mpro, which plays a pivotal role in mediating viral replication, the researchers said.

This makes it an attractive drug target for this virus, and as people don't naturally have this enzyme, compounds that target it are likely to have low toxicity, they said.

"We add the drugs directly to the enzyme or to cell cultures growing the virus and assess how much of each compound is required to stop the enzyme from working or to kill the virus. If the amount is small, then we have a promising compound for further studies," said Guddat.

After assaying thousands of drugs, researchers found of the six that appear to be effective in inhibiting the enzyme, one is of particular interest.

"We're particularly looking at several leads that have been subjected to clinical trials including for the prevention and treatment of various disorders such as cardiovascular diseases, arthritis, stroke, atherosclerosis and cancer," Guddat said.

Researchers said compounds that are already along the pipeline to drug discovery are preferred, as they can be further tested as antivirals at an accelerated rate compared to new drug leads that would have to go through this process from scratch.

"With continued and up-scaled efforts we are optimistic that new candidates can enter the COVID-19 drug discovery pipeline in the near future," Guddat said.

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