The most important art fair of the year is filled with very good, very expensive art. And it’s selling.On the opening day of Art Basel, the Swiss art fair where dealers bring their most important artworks to sell to their richest clients, the Paris-based collector Robert Vifian was wandering through the booths.He’d bought one work already and was taking in the rest of the fair with some trepi...

In the wake of Russia’s invasion of Ukraine, our global food systems are struggling to feed those most at risk.Russia’s invasion of Ukraine has led to a major humanitarian crisis, not just in Ukraine but also around the world. Given the region’s importance as a breadbasket to the world, the impact on key food commodities such as wheat and sunflower oil has been immediate, resulting in massiv...

Sound waves can be used to keep an object hovering in the air, and a new technique works even in crowded spacesUltrasonic sound waves have been used to levitate objects in crowded rooms to make hologram-like displays. Such acoustic levitation was previously only practical in empty spaces, but a new algorithm can quickly readjust the sound waves when they encounter an obstacle to keep the object...

This week iconic toymaker Lego announced its plan to build a new 1.7 million square-foot factory in Virginia, creating up to 1,800 jobs once complete. The Danish company plans to spend $1bn on the factory, which is an enormous investment for any company, let alone one that produces such a simple product.But selling a simple product, and doing it really, really well, has been the cornerstone of...

The Solix robot will soon be assessed at a farm in Davidson, Saskatchewan.Farmers could be spared a lot of work and expense – plus the environment could be spared a lot of harmful chemicals – if crops didn't have to be sprayed indiscriminately. The new plant-inspecting Solix robot was designed with those facts in mind.Created by Canadian agri-tech company Solinftec, Solix will autonomously mo...

Inflation is dominating the news as prices hit 40-year highs.While the price of everyday goods, including food and energy, is the most widely cited type of inflation, other forms exist across the broader economic system.In this Markets in a Minute from New York Life Investments, we chart three types of inflation and the macroeconomic factors that influence each type.1. Monetary InflationMonetar...

It might be the end of an era for legendary cosmetics brand Revlon.The iconic beauty, which is nearly a century old, officially filed for Chapter 11 bankruptcy on Thursday, citing "macro-economic issues" as the primary reason, specifically "legacy debt" challenges and supply-chain disruptions.Revlon is expected to receive $575 million in DIP financing to help day-to-day operations and maintain...

Hyundai has developed a concept vehicle that uses a traditional Korean underfloor heating system to create a cosy interior.Traditional Korean houses are kept warm using an underfloor heating system called an ondol. Now, Korean automaker Hyundai has unveiled a self-driving concept vehicle whose interior arrangement echoes the warm and cosy atmosphere of a Korean ondol room. It features a passeng...

With its potential to generate up to $5 trillion in value by 2030, the metaverse is too big for companies to ignore.The metaverse is still being defined, both literally and figuratively. Yet its potential to unleash the next wave of digital disruption seems increasingly clear, with real-life benefits already emerging for early adopting users and companies. As we saw in previous shifts in techno...