the world art basel. he flies in a private jet for which he pays fifty thousand dollars a year. despite his tangles with the law he wants to be in the right places how does the boss of the alamo want to go out the budget stick to the football. say that money is the strike and we had people see it up with all the putting out something else that was. so that's wrong thanks to do something about it unless you do something they cannot show. us you can go from a simple google search of a city but they couldn't get. the sec would that's at the moment you need. i said. but they said it went up in about obama's because the finale of the demo played it took about a month. something. help us to step up somebody from a calculus but you know what's that been on the board to see again. i didn't pick up on these. and yet burning off his private jet we soon see that his controversial reputation causes fewer problems than predicted. if. this. all had to do with a. subject of his first appointment is with one of the art f

here's their stand at art basel by calder mirror those fun tanos and because those. and also a royal lichtenstein and his own two feet all of them stars of modern art. in the mud collection is valued at almost three billion dollars thousands of works most of which are stored at the geneva freeport. maybe the reason david no mud prefers to be discreet is because one of the paintings he owns is causing him problems with the law. the story started here in the paris archives in two thousand and eleven with this man james palmer. even as a canadian private detective who specializes in finding art looted from jews by the nazis. one day while rummaging in the paris archives he came across a file on a certain stetson or a jewish antiques dealer the man was dispossessed of all his assets during world war two. after the liberation of paris he found a plane to recuperate his patrimony. the documentation is contained in this box it was here in the paris archives that we found a document that referred to the quest of mr oscar stoner for his stolen pate. the information that we fou

also on the show you love art and have some money to spend goes on kong where art basel is on show we take you around some of the exhibit. this is eat up your business in berlin welcome the dutch government has announced it is slowly turning off the taps in one of the world's largest natural gas reserves that comes after a series of small but still damaging earthquakes in the area were caused by the gas exploration which of such a large field is a big project in any case but a few things make matters more complicated that the lucrative groningen gas field is europe's biggest and the government has long term contracts to sell groningen gas to neighboring countries but that's not all staggering ninety percent of dutch homes use the gas from that field. what the groningen gas field is going going gone. or at least on its way out the plan for now is the scaled down current production of twenty one point five billion cubic meters to twelve billion but the long term goal is to shut it down entirely by twenty thirty. but the ordeal of us acted judgment was that it's really not savings even a

fair in the world art basel. he flies in a private jet for which he pays fifty thousand dollars a year. despite his tangles with the law he wants to be in the right places. the ball something that will want to go out a bunch of sick little. say that many just as strong and red people see it up to call them to mean something else that would. make them to be sensitive to less who don't make enough money i'll let you go but second off a lot of them before us which was that they couldn't get. the support that's at the moment the media. i said. but they said it went up about obama's because the finale. played. something. help us to step up somebody from a calculus but you know what's that been on the board it can be done but he did it up and he's good. and yet barely off his private jet we soon see that his controversial reputation causes fewer problems than predicted. if. i missed. all that to. see his first appointment is with one of the art fairs founders a rudolph. if both men have businesses in singapore and are

borders and as the art basel exhibition gets underway in hong kong chinese work side increasingly attracting investors interest and cash in a rapidly expanding market. and daniel winter and this is all business update. in one year's time britain will be out of the e.u. investors are confused by rex it economists confounded by it business leaders frustrated they point to u.k. data which is less than perky take a look at last year the euro zone's economy expanded by more than two percent but in the united kingdom g.d.p. rose just one and a half percent now this year british economic growth is expected to slow from that figure because of the weaker forecast investors have switched to cash out of pound sterling its value dropping fifteen percent since the brics that referendum that's making imports more expensive pushing up consumer prices at three percent that is the highest point in five years for inflation now brits have had to borrow to maintain their lifestyle expectations u.k. household debt amounts to one hundred fifty percent of their income as the second highest rate among advanced econ

london one of the world's most prestigious art fairs is opening in hong kong this weekend this year's art basel is showcasing work from more international artists than ever and the sarah clarke reports curators are hoping to use the three day event to tap into china's growing up a tight for contemporary art. it's a fish showcasing thousands of vibrant and abstract exhibits including paintings sculptures interactive installations and digital art this painting by the dutch artist when de kooning from a private collection has a pos tag of thirty five million dollars it is one of the big nights the firin bryce's a million artistes came to share the international stage the showcase is incredible because it's really some of the best galleries and the most exciting young ones as well that that are with us so again a great snapshot of what's going on around the world and i'll call around two hundred fifty galleries from fifty two countries felicity's conventions into almost half a from asia but this year there are twenty eight new comets with more galleries from the middle east and india in the line up

fair in the world art basel. he flies in a private jet for which he pays fifty thousand dollars a year. despite his.

world the helena maud gallery in new york run by the daughter of the family patriarch we ran into at art basel. james palmer decided to write to our. american mess one is the melting pot and the second is the radio alger myth of of the bootstrapping of anyone can succeed in america the works are so this is a whole group of people all generation in america is saying that there is no melting pot we're not being assimilated there's no opportunities we can't live up so their response essentially is to go into conflict and this is a major conflict. well you know the hard thing we've kind of adopted because we were called part of the so long. i've been there in this small ball and if you don't harp on here and you stand. up and. the little self to be told fish already ninety percent of the dot and it won't connor. fifteen scoops seventy five tons try to do it several times a day with a big screen oh you get an idea for an ocean. we have to understand we can no space to just. we with them this will be used field boys and girls. i'm doing this because i want the from the future world to the future can

fair in the world art basel. he flies in a private jet for which he pays fifty thousand dollars a year. despite his tangles with the law he wants to be in the right places. that will want to go out the budget stick it up off. say. but just as strong and people see it up to gold to be nothing else it would. make sense to be so simple it lets you. make enough. to let you go but check out the show before the switch but they can. be said it's at the p.t.b. to. put this argument. because the finale. was. something.

world the helena mod gallery in new york run by the daughter of the family patriarch we ran into at art basel. james palmer decided to write tour. the far right and britain isn't just on the march it's taking violent mother's action i know i'm quite neat and clean against the dog and i see those organizations which are all usually split into which we for different names how do you view that looks. odd and. complex web of which are fashionable. and make them five folks human rights music notion the example of young men who see. the genocide who are there going on then just look who is some porting who american them british and a number of all the european countries they are a very generous need and then their support to the aggressor so what kind of human blood so in which to live a million children a woman does not come. but politicians to do something to. put themselves on the line to get accepted or rejected. so when you want to be president i'm sure. most somewhat want to. have to go right to be close to see what the before treat them or can't be good. i'm interested always in the waters o

and india in the line up it's because we're looking to explore the east i think it's also because art basel hong kong is wonderful the most exciting phase in asia coming from tehran living in europe i think this is a major step for us market wise to see how it how does this work in this emerging market this year a gallery from iran is making each deal inside as a release of the unfamiliar with art from the middle east by galleries and institutions in this region i'm driving market interest it's felt you know the emerging order of iran that we are trying to represent has recently will of maturity to be shown at such a venue alongside the best counters in securing a spot here in iraq battle involves a tough application process more than five hundred galleries apply but only however except in the face like patient here in hong kong is a major drug caught on the doorstep of china it's now the second largest market in the world behind the united states accounting for one fifth of the global outside wall options essential to global outsells a report commissioned by at basel found that outfit is l

some of which he turned into an installation on miami beach for art basel last december, an eerie homagemovie classic. >> the night before at a zillion to one shot i happened to watch at 1:26 in the morning the last few minutes of "planet of the apes" and saw the statue of liberty, so that was banging around my head. >> with the rest of the stuff he makes collages. he calls it up cycling. >> up cycling. hopefully. it was in the dumpster, now it's $20,000. that would be up cycling. >> some pieces have been upcycled to $50,000 or more. and might you be surprised to learn that the unschooled tunney was once a salesman before he declared himself an artist? >> bam. >> you don't want to brag, but i'll just say -- guys that bought cars from me, stocks from me, buy art from me. upbeat, quotes he himself swears by. mantras maybe because the peter tunney of a decade ago was a wreck. in your adult life, when you loaded, stoned, drunk for a good chunk of it? >> well, i mean, 30 years. i always say this, i went to a party when i was 13 and they had free beer and cute girls and marijuana and i came ho

now hong kong is embracing its newfound role as a global hub within the first hour of this week's art basel fair in hong kong a piece by willem de kooning sold for thirty five million dollars for just one painting and chinese artists are far behind few chinese buyers probably wouldn't have had much interest in this painting by up and coming artist dan in the past but this year to work titled connectedness is garnering a lot of attention. in their first few years i felt that they are very excited and they are so poor hungry in collecting so they would be coming up to us and wanting to collect right away certain pieces if they felt they were that they love it but over the years i've seen more and more of our educated behavior china has become the world's second biggest up market after the u.s. in the past year chinese buyers have spent thirteen point two billion dollars on paintings sculptures and other rot that's up fourteen percent on the previous year . that's creating a windfall for some like eccentric on-call nationalist fro king kwok who is selling his hand painted calligraphy he. so th

and india in the line up it's because we're looking to explore the east i think it's also because art basel hong kong is wonderful the most exciting phase in asia coming from tehran living in europe i think this is a major step for us market wise to see how it how does this work in this emerging market this year a gallery from iran is making its debut deal inside. a release of the unfamiliar with art from the middle east by galleries and institutions in this region and driving market interest it's felt you know the emerging order of iran that we are trying to represent has recently will of maturity to be shown a sizer venue alongside the best gathers in securing a spot here at our battle involves a tough application process more than five hundred galleries apply but only hope for except in the face like patient here in hong kong is a major troll caught on the doorstep of china it's now the second largest market in the world behind the united states accounting for one fifth of global are silent while auctions essential to global lot sells a report commissioned by at basel found that outfit i

a there is a group that has partnership with art basel, one of the biggest art fairs in the world.e future? so many galleries struggle and it puts a strain on galleries and artists in terms of having to go to these art fairs to sell art. >> we have seen art fair sales increase, a huge increase. in line, the cost to attend fairs increased 15%. the returns are not necessarily increasing much. the sales are concentrated at the high-end, the costs rise for everybody. there are people looking to exhibit at fairs, exhibit the best results, where they are consolidating their efforts. ones that have global outreach and may besel, thinking more about reducing [indiscernible] >> thank you very much. we are looking at a mixed picture in terms of the art market, and the lower end of the market, where perhaps normal people, you or i, might purchase, rather than being dominated by a few names. it gives you a good look at the market in general, concerns about future years for the art market. the financial power is concentrated in a very small number of hands, whether that be galleries or private

what the government wants to do we don't do what the church once we only do what art once this was the group. today basel it slips in australia but he often comes back to saxony. is the superstar of the art scene homesick. but you know if to you i'm often here and as you grow older you get more weepy and sentimental as on the insured if i can exhibit in dresden ended it's a great honor whose but this is it was it was. through the lens of the old masters we get a fresh take on the youngest that we otherwise know as a painter of oil on canvas and gail docility himself seems to be pleased with his confrontation with the mortals of history. now and that it's time to say goodbye but before we go we want to let you in on this week's contest since the easter holiday is just around the corner we would like to know what your favorite holiday is is it easter or maybe ramadan or something completely different only celebrated in your part of the world and any case we would like to know so please go to our website for all of the details and you could qualify to win a euro max wrist watch as always thanks for tuning i

such you take a look at it that basel as art of sees floor, others see it as a ceiling. see any incongruities with basel three? >> i think basel three, especially with the newest constraints putting on banks to drive capital requirements really does level the playing field more than we had before. so i think we are definitely moving to a better place. every country is different. every institution set up is different. you go to a different country and debate how riskier things in the netherlands versus the u.s.. it is hard to sus set out because the institutional setup versus thatent -- u.s. it is hard to sus that out because the institutional setup and so different. but i thinkountry, we can get to a place for the differences are sufficiently small that they do not impede the ability of the banks to compete on a relatively fair and level playing field across borders. i don't think we have much to worry about. if i look around and see the u.s. ranks relative to large hard banks, it seems like it u.s. banks are doing just fine. it does not seem like the regime is making th

also on the show you love art you have money to spend to go to hong kong where out to basel is on show we take you around to some exits. welcome to g.w. business so today marks the two hundredth anniversary since the birth of pre-christian bill hemmer i feel the man who founded a particular form of rural cooperatives at a time when german pharmacies were fighting poverty as well as exploitive loan sharks co-operative banking model has spread to many other industries and it still functions today. these two families a members of germany's oldest co-operative in one thousand nine hundred eight their forefathers banded together and started a cooperative that built and operated a flour mill one farmer could not have done it alone escaped by the. grain from our region the old mountains is very coarse it was difficult to sell to nearby dresden there was very little profit so they said we need our own mill so we can process the grain and then we can make the bread as well. as. the mill and the bakery have ensured a thriving business for the farmers for many years now some seventeen businesses

but also on the show you love art and have a bit of money to spend go to hong kong but out basel is on show we take you around some of the exhibit. this is the business i'm going to office in berlin welcome the government in cyprus said today that it's ready to support the sale of the island nations co-operative bank that is groaning under bad loans to private investors ironically this announcement comes on the day of the two hundredth birthday of. the german who founded the co-operative movement with a particular form of rural corporative it was a time when german farmers were fighting poverty as well as loan sharks fisons co-operative banking model is since spread to many other countries and it still functions today. these two families a members of germany's oldest co-operative in one thousand nine hundred eighty their forefathers banded together and started a cooperative that built and operated a flour mill one farmer could not have done it alone. in the grain from our region the old mountains is very coarse it was difficult to sell to nearby dresden there was very little profit so

here's their stand at art basel mobiles by calder mira who's fontana's because. and also a royal lichtenstein and his own two feet all of them stars of modern art. the mod collection is valued at almost three billion dollars thousands of works most of which are stored at the geneva freeport. maybe the reason david no mud prefers to be discreet is because one of the paintings he owns is causing him problems with the law. the story started here in the paris archives in two thousand and eleven with this man james palmer. is a canadian private detective who specializes in finding art looted from jews by the nazis. one day while rummaging in the paris archives he came across a file on a certain stetson or a jewish antiques dealer the man was dispossessed of all his assets during world war two. after the liberation of paris he found a plane to recuperate his patrimony. the documentation is contained in this box it was here and they paris archives that we found a document that referred to the quest of mr oscar stener for his stolen pate. the information that we found was

counting down to an economic disaster or is that just more doom and beyond any new borders and as the art of basel exhibition gets underway in hong kong chinese work saw increasingly attracting investors interest and cash in a rapidly expanding market. and daniel winter and this is all business update. in one year's time britain will be out of the e.u. investors are confused by rex it economists confounded by it business leaders frustrated they point to u.k. data which is less than perky take a look last year the euro zone's economy expanded by more than two percent but in the united kingdom g.d.p. rose just.