Close Menu
  • News
  • Stocks
  • Bonds
  • Commodities
  • Collectables
    • Art
    • Classic Cars
    • Whiskey
    • Wine
  • Trading
  • Alternative Investment
  • Markets
  • More
    • Economy
    • Money
    • Business
    • Personal Finance
    • Investing
    • Financial Planning
    • ETFs
    • Equities
    • Funds

Subscribe to Updates

Get the latest markets and assets news and updates directly to your inbox.

Trending Now

Rune Mields, Self-Taught German Conceptual Artist, Dies at 91

June 30, 2026

Comment | Why should artists stay in cities like London and New York when financial pressures are making it harder than ever? – The Art Newspaper

June 30, 2026

5 Books to Keep Your Brain From Melting in July

June 30, 2026
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
The Asset ObserverThe Asset Observer
Newsletter
LIVE MARKET DATA
  • News
  • Stocks
  • Bonds
  • Commodities
  • Collectables
    • Art
    • Classic Cars
    • Whiskey
    • Wine
  • Trading
  • Alternative Investment
  • Markets
  • More
    • Economy
    • Money
    • Business
    • Personal Finance
    • Investing
    • Financial Planning
    • ETFs
    • Equities
    • Funds
The Asset ObserverThe Asset Observer
Home»Art Market
Art Market

Saudis Renege on Met Opera Financial Aid, Berlin’s Culture Senator Resigns, and More: Morning Links for April 24, 2026

News RoomBy News RoomApril 24, 2026
Share
Facebook Twitter LinkedIn Pinterest Email

Good Morning!

  • The Metropolitan Opera says Saudi Arabia has backed out of a deal that would have provided the cash-strapped institution with millions over eight years.
  • Berlin culture senator Sarah Wedl-Wilson has resigned amid a scandal related to funding projects supposed to combat antisemitism. 
  • President Trump now wants to renovate the Lincoln Memorial reflecting pool.

The Headlines

DIRE STRAITS OF HORMUZ. The Saudi Arabian government has formally backed out of a deal with the Metropolitan Opera that would have provided as much as $200 million over the next eight years to the cash-strapped New York company,reports the New York Times . On Thursday, Met general manager Peter Gelb said the Saudis blamed the war in Iran and the blocked Strait of Hormuz for reneging on a noncommittal “memorandum of understanding” that was first announced in September with much fanfare. However, even before the war in Iran, the Saudi government had failed to send funding as agreed, prompting the Met to launch a series of cost-cutting measures, including preemptive layoffs in January. “They are only doing the projects that are essential,” Gelb told reporters, and that apparently doesn’t include the Met deal. The New York institution is now facing a $30 million shortfall for this fiscal year alone but, ironically, has had some of its “greatest artistic successes,” said Gelb.

REVOLVING DOOR. Berlin culture senator Sarah Wedl-Wilson announced Friday she is resigning after having replaced Joe Chialo l ess than a year ago, when he stepped down amid controversy related to budget cuts, reports dpa. This time, Wedl-Wilson is leaving following a scandal related to conclusions by a state audit that determined she illegally authorized funding for 13 projects apparently focused on the prevention of antisemitism and “of particular political significance.” The Berlin Court of Auditors said Wedl-Wilson committed serious omissions and violated state budget regulations and other rules. The 13 projects in question were granted about €2.6 million ($3 million) in total. Wedl-Wilson said she was resigning to preserve the government’s stated intention of combating antisemitism. The Senate Department for Culture and Social Cohesion “will now ensure a legally sound funding framework for projects against antisemitism,” insisted Berlin governing mayor Kai Wegner. “Because one thing is certain: We will not relent in the fight against antisemitism in Berlin.”

The Digest

President Trump has announced plans to renovate the Lincoln Memorial reflecting pool in Washington, D.C., which he called “filthy” and “dirty” and in need of an upgrade. [The New York Times]

Ontario is investing an additional $21 million CAD in annual support of the Art Gallery of Ontario and the Royal Ontario Museum. [press release]

Rome’s newest museum, dedicated to photography and located in the Mattatoio complex, a former slaughterhouse, is part of an ambitious plan to create a new cultural district. [Apollo Magazine]

Brazilian-born Thiago de Paula Souza will curate the eighth Athens Biennale in the spring of 2027. [Artforum]

Collector Justin Sun is suing World Liberty Financial, the Trump family’s memecoin company, claiming that it illegally froze his holdings of tokens. [ARTnews]

The Kicker

FLOP ERA. For some designs, timing is everything. That couldn’t be truer for one German entrepreneur named Jan Vinzenz Krause, whom the New Yorker tells us invented a “spray-on condom” that was supposed to fit its wearer like a … glove? We don’t need to spell out all the problems this posed, but one involved the lengthy amount of time it took for the latex product to dry. By then, it no longer fit. All this is told best in a new exhibition at the Musée des Arts et Métiers in Paris called “Flops?!” The show displays terrible inventions, or the “failure, bust, bomb, fiasco, debacle,” and “all the stuff that gets shoved under the carpet,” explains co-curator Marjolaine Schuch. The spray-on condom (a literal flop, if you will) is joined by a roller-skating Barbie doll that set rugs on fire, and a forehead-slapping email from Paul Graham to Fred Wilsonoutlining why investing in a then-new company called Airbnb was a stupid idea. “I am not sure they can take on the hotel market,” Wilson reasons. From the hilarious to the distasteful and even sexist, the show “was an opportunity to demystify and de-dramatize failure,” added Schuch. As visitors flock to the museum exhibit, open until May 17, the gamble is paying off. “Flops?!” is a fabulous success.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Keep Reading

Rune Mields, Self-Taught German Conceptual Artist, Dies at 91

Comment | Why should artists stay in cities like London and New York when financial pressures are making it harder than ever? – The Art Newspaper

5 Books to Keep Your Brain From Melting in July

Researchers Utilize AI to Translate 2,000-Year-Old Carbonized Scrolls from Herculaneum

Workers at the Guggenheim in New York vote to authorise a strike – The Art Newspaper

Russia’s Hermitage Museum Suspends Archaeological Expeditions in Crimea, Citing Fuel Shortage

Mayor Mamdani and The Whitney partner on free New York art activity during World Cup 2026.

Adrien Brody’s Latest Art Monstrosity Is a Mural for the Raising Cane’s in Times Square

UK Lawmakers Fault Government’s Oversight of National Museums, Raise Prospect of Admission Fees for Foreign Visitors

Recent Posts
  • Rune Mields, Self-Taught German Conceptual Artist, Dies at 91
  • Comment | Why should artists stay in cities like London and New York when financial pressures are making it harder than ever? – The Art Newspaper
  • 5 Books to Keep Your Brain From Melting in July
  • 2025 Resource Outlook Report for Australian Investors
  • Researchers Utilize AI to Translate 2,000-Year-Old Carbonized Scrolls from Herculaneum

Subscribe to Newsletter

Get the latest markets and assets news and updates directly to your inbox.

Editors Picks

Comment | Why should artists stay in cities like London and New York when financial pressures are making it harder than ever? – The Art Newspaper

June 30, 2026

5 Books to Keep Your Brain From Melting in July

June 30, 2026

2025 Resource Outlook Report for Australian Investors

June 30, 2026

Researchers Utilize AI to Translate 2,000-Year-Old Carbonized Scrolls from Herculaneum

June 30, 2026

Workers at the Guggenheim in New York vote to authorise a strike – The Art Newspaper

June 30, 2026
Facebook X (Twitter) Instagram
© 2026 The Asset Observer. All Rights Reserved.
  • Privacy Policy
  • Terms
  • Press Release
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.