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New York gallery owner David Killen believes he has uncovered six paintings by Dutch-American abstract master Willem de Kooning, which — if verified — could be worth tens of millions of dollars. The works were part of a stash of artworks that languished in a storage locker in New Jersey until the dealer offered $15,000 for the lot. Killen is confident that a painting by legendary Swiss modernist Paul Klee is also among the artistic flotsam. A worthwhile investment A de Kooning canvas, "Untitled XXV" (pictured top), sold for a record $66.3 million (€56.7 million) at Christie's in 2016 , while another sold privately for a reported $300 million in 2015 — as part of a $500 million sale that include a Jackson Pollock painting. Killen estimates the discovered works could sell for between $10,000 and $10 million when they are auctioned late this year and early the next. He is planning to unveil the paintings Tuesday at a party in New York. Willem de Koonings works have … [Read more...] about ‘Junk’ art stash may yield multi-million dollar masterpieces

A so-called "blank cheque" company set up by a group of financiers is weighing a merger with Lombard International, one of the largest UK-based wealth management groups. Sky News has learnt that Kingswood Acquisition Corp, which listed in New York late last year, is among a number of suitors expected to table bids for Lombard in the coming days. If successful, Kingswood's merger with Lombard would be among the first examples of a UK-based financial services business listing in the US via a special purpose acquisition company (SPAC). City sources said that Apollo Global Management was among the other likely bidders for Lombard, which has been owned by Blackstone since 2014. Analysts have suggested that the wealth manager, which had more than €47bn in assets under administration last June, could fetch around €700m. Advertisement One source said Blackstone was expected to proceed towards signing a formal deal later in the spring, with other bidders also … [Read more...] about Kingswood SPAC and Apollo among suitors for Blackstone’s Lombard

ROSES are red, violets are blue... and here are the best Valentine's supermarket meal deals for two. From Marks and Spencer to Tesco , we’ve rounded-up all the romantic options for a cosy night in. Supermarket offers are likely to be popular this Valentine's as restaurants remain closed around the country due to Covid restrictions. Meal deals from some grocers range from £15 to £20, with options including starters, main, sides, desserts, bottles of booze and chocolates. But not all stores are doing set courses. For example, some are doing “mix and match” Valentine’s deals where you only pay for the items you buy. Valentine's Day 2021 supermarket meal deals HUNGRY for love? Here's how much each supermarket is charging for their Valentine's Day meal deals. For some, there is a set price for starters, mains, sides, dessert, drinks and a box of chocolate. But others are doing "mix and match" deals where you just pay for exactly what you want. … [Read more...] about Best supermarket Valentine’s Day meal deals including M&S, Tesco and Aldi

NatWest Group is braced for the government to further delay its target date for returning the lender to full ownership, raising the prospect that it could face almost 20 years as a partially nationalised company. Sky News understands that the Treasury is likely to confirm alongside Rishi Sunak 's Budget next week that its ambition of selling its remaining 60% stake in NatWest - formerly Royal Bank of Scotland - is to be pushed back again. People close to the bank said they expected the privatisation timetable to be extended by a further one or two years, reflecting the fact that the government has not sold any shares in the bank since 2018. An additional two-year delay would raise the prospect of NatWest having been part-owned by taxpayers for almost two decades before the state is finally removed from its share register. Volatile markets and the coronavirus pandemic have impaired any hope of selling down the stake during the last two-and-a-half years. … [Read more...] about NatWest braced for ministers to delay privatisation target again

Rishi Sunak is to launch a £100million taskforce to crack down on Covid fraud. The Chancellor will use next week's Budget to unveil plans for the new unit following criticism that the furlough and business loans schemes have been left wide open to exploitation by fraudsters. The new Taxpayer Protection Taskforce will have 1,265 staff and be based in HM Revenue and Customs (HMRC). Chancellor Rishi Sunak, pictured last March on Budget Day will deliver his second budget speech next week where he will announce the creation of the new Taxpayer Protection Taskforce will have 1,265 staff and be based in HM Revenue and Customs (HMRC) The new squad will focus on tracking down criminal gangs thought to have stolen billions of pounds by posing as legitimate businesses It will focus on tracking down the criminal gangs thought to have stolen billions of pounds by posing as legitimate businesses. Rogue employers who have claimed cash under false pretences will also … [Read more...] about Rishi Sunak will launch £100million taskforce to catch the Covid fraudsters who grabbed cash meant for hard-hit firms