A $2 million painting by Ellsworth Kelly and five light holograms by James Turrell, priced at $100,000 apiece, were among the first artworks snapped up by collectors at the opening of the Art Show in Manhattan.
Daniel Loeb, whose Third Point LLC is increasing pressure on Sotheby’s by proposing three directors to the board, said he’s willing to work with Chief Executive Officer William Ruprecht and senior management.
U.S. President Barack Obama sought to keep up pressure for religious freedom on China as he met with the Dalai Lama, balanced with a desire to maintain a working relationship with the Asian superpower.
Billionaire Daniel Loeb wants Dow Chemical Co. to spin off its petrochemicals unit, expects T- Mobile US Inc. to merge with Sprint Corp., and thinks the U.S. Government will exit Ally Financial Inc. in an initial public offering.
Sotheby’s, the auction house under pressure from hedge-fund manager Daniel Loeb to improve its competitive position, will pay a $300 million special dividend and said it may sell real estate to hand back more cash to shareholders.