The US midterm elections remain the top focus of the day with president Biden calling it “a good day for democracy.” On the COVID-19 front, China’s major industrial hub, Guangzhou is under lockdown after a major spike in daily Covid cases. In other news, Microsoft co-founder Paul Allen’s art collection was sold for more than $1 billion at a Christie’s New York, making it the most expensive auction sale ever. Furthermore, Hurricane Nicole has devastated the Bahamas and is now heading for Florida.
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US President Joe Biden welcomed the outcome of the midterm elections, calling it “a good day for democracy” and pointed out how Democrats denied Republicans the sweeping victory they expected. According to CNN projections, Democrats now have 188 out of 218 seats needed to control the House of Representatives.
COP27: China ready to back mechanism to compensate poor countries for climate change
China’s climate envoy Xie Zhenhua on Wednesday said that China would be willing to support a mechanism for compensating poorer countries for losses and damage brought on by climate change. Speaking at the COP27 climate summit in Egypt, he further said that his country is under no obligation to participate, but is willing to make a contribution.
China’s economic hub Guangzhou under lockdown; 2,500 new cases reported over 24 hours
A spike in COVID-19 cases has led to lockdowns in South China’s Guangzhou, a major industrial base, adding to the financial woes that have disarrayed global supply chains and drastically impeded growth in the second-largest economy in the world. Residents in affected districts consisting of almost five million people have been ordered to stay indoors at least through Sunday, with one member from each family allowed to venture out once per day to purchase essentials, as per local authorities.
Microsoft co-founder’s art collection creates history, sold for record $1.5 billion at auction
The art collection of Microsoft co-founder Paul Allen was sold for more than $1 billion at a Christie’s New York auction on Wednesday. It broke the record for the most expensive auction sale ever. The collection broke the record previously set by the Macklowe collection, owned by a divorced couple, which was sold for $922 million at Sotheby’s just six months ago. The proceeds from the sale will be donated to charity as per Allen’s will. The collection consists of 150 masterpieces from artists such as Van Gogh, Alberto Giacometti, Claude Monet, Paul Gauguin, and Jasper Johns. As per Forbes, the collection fetched $1.5 billion.
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