Banking Crisis | Boomers Daily

April 6, 2023: This week: Ben Luke talks to Melanie Gerlis about the recent turbulence in the banking sector, as US banks go under, an ailing Credit Suisse is acquired by UBS and Deutsche Bank shares fall at one point by 14%.

What are the implications for the art world? Melanie also explains the figures in the latest Art Basel and UBS Global Art Market Report. The Baltimore Museum of Art in the US this week opens the exhibition The Culture: Hip Hop & Contemporary Art in the 21st Century.

We speak to Asma Naeem, the director of the BMA and co-curator of the show, about what she’s called “the second pop art movement”. And this episode’s Work of the Week is The Calling of Saint Matthew by the 17th-century Afro-Hispanic artist Juan de Pareja. He is best known as the subject of one of the greatest ever portraits, by Diego Velázquez, the artist who enslaved Pareja for two decades before his manumission in Rome in 1650.

David Pullins and Vanessa K. Valdés, the curators of a new exhibition about Juan de Pareja at the Metropolitan Museum of Art in New York, tell us about the painting.The Culture: Hip Hop and Contemporary Art in the 21st Century, Baltimore Museum of Art, until 16 July; St Louis Art Museum, 26 August-1 January 2024.Juan de Pareja, Afro-Hispanic Painter, Metropolitan Museum of Art, New York, until 16 July.

The Guardian Weekly (March 24, 2023) – You’d be forgiven for having allowed the collapse of the tech industry lender Silicon Valley Bank, earlier this month, to pass you by. Even the news that SVB’s UK operation had been salvaged in a deal brokered by the British government might not have registered too much. But the rescue this week of Switzerland’s second-largest lender Credit Suisse had a more ominous feel to it, a sense of fiscal dominoes cascading slowly into one another.

For our big story this week, Anna Isaac and Kalyeena Makortoff report on a week that brought back anxious memories of the 2008 financial crash, while economics editor Larry Elliott argues that only the era of ultra-low interest rates that followed the previous crash has prevented a further correction happening sooner.

Chinese president Xi Jinping’s visit to Russia this week had the feel of a pivotal moment for global diplomacy. Russian affairs reporter Pjotr Sauer and senior China correspondent Amy Hawkins look at what the strengthening of the Sino-Russian alliance signifies for Moscow, Beijing and the rest of the world.

This week also saw the 20th anniversary of the US invasion of Iraq. Diplomatic editor Patrick Wintour reflects on a botched intervention that still haunts global politics to this day, while on the Opinion pages Randeep Ramesh argues that the US foreign policy debacle still serves to underline what he describes as “the capricious and self-centred nature of American global power”.