Peter Brant standing in Urs Fischer's "You," 2007

Peter Brant Pledges Warhols to Save Family Business: Peter Brant is using part of his storied contemporary art collection to prop up the family newsprint business. The CEO of White Birch Paper Co.pledged 56 works of art to the lending arm of Sotheby's, including pieces by Andy Warhol, Richard Prince, and Jean-Michel Basquiat. (White Birch filed for bankruptcy protection in February 2010 after newsprint prices plunged.) The move is indicative of a larger trend toward art-related financing in the last five years, experts say. Sotheby's generally makes loans equaling as much as 50 percent of the value of the collateral. [Bloomberg]

– Ai Weiwei Pledges Not to Pay Tax Bill:Ai Weiwei told reporters he has no plans to pay the remaining $1.1 million in fines levied against him by Beijing tax officials. The artist, who already paid $1.3 million of the total $2.4 million fine in order to get a review of his case, lost a final appeal on Thursday. Meanwhile, the Indianapolis Museum of Art announced it would present his first North American retrospective in April 2013 after it originates at the Hirshhorn Museum in Washington, D.C. [Globe and Mail, Press Release]

– Flea-Market Renoir Allegedly Stolen: When something seems too good to be true, it probably is. The Renoir landscape recently discovered at a flea market for $7 and slated for auction in Virginia may have been stolen 61 years ago. The original owner lent the painting to the Baltimore Museum of Art in 193. According to its archives, the landscape was reportedly stolen from the museum on November 17, 1951. The FBI is investigating the story; in the meantime, the painting's auction has been canceled. "We want the painting back," said BMA director Doreen Bolger. [WaPo]

–Swizz Beatz Curates Harlem Hospital: Rapper and art enthusiast Swizz Beatz joined Mayor Bloombergin unveiling Harlem Hospital's new mural pavilion yesterday, which boasts a collection of preserved murals by African-American artists such as Vertis Hayes. The artworks were originally commissioned through the WPA's Federal Art Project in 1936. Swizz, who plans to host art programs in the new space, is also curating the hospital's lobby display, where he hopes to show some of his own mixed-media art. [NYDN]

– Gundlach's Stolen Art Returned: Police recovered nearly $10 million worth of contemporary art, including works by Piet Mondrian and Jasper Johns, that were stolen from bond traderJeffrey Gundlach's home earlier this month. Two suspects, now arrested, were reportedly in the midst of selling the Mondrian painting when they were caught. Gundlach had offered a $1 million reward for the geometric composition, which is said to be the highest ever reward for a single painting. [LAT]

–Shanghai Gets Two Sprawling Museums: Shanghai is gearing up to unveil two massive art museums repurposed from structures built for the city's World Expo in 2010. The China Art Museum, devoted to Chinese modern art from the late Qing dynasty to 1980, and the Power Station of Art, showing post-1980 contemporary art, mainly from China, will open their doors on October 1. At 160,000 square meters and 41,200 square meters respectively, they will dwarf existing art venues in the country. [WSJ]

– Philadelphia Culture Has Hefty Economic Impact: Looking for work in the arts and culture industry? Maybe you should move to Philadelphia. No region comes close to producing as many jobs in the cultural field as Southeastern Pennsylvania, according to a new economic impact study. (New York City was not included in the report.) All told, the arts sector in Philadelphia triggers $3.3 billion in expenditures every year and supports 44,000 jobs within the city and its four suburban counties. [Philadelphia Inquirer]

– Restaurants Get Artists-In-Residence: The age-old association between food and art gets a high-end twist at several European restaurants, which have begun to employ artists-in-residence and commission art stars like Damien Hirstto make site-specific installations. Artists ranging from Martin Creedto Anna M.R. Freeman have transformed interiors of four-star London restaurants and chefs create menus to match. The trend has become so widespread that James Cahill, of Sadie Coles gallery, offers Saturday morning restaurant art tours. [WSJ]

– Museums Sell Off Trendy Artworks: This November, a number of museums are selling off artwork in their collections that dovetail with current tastes and fashions. The Brooklyn Museum is selling one of Yves Klein's classic painted sponges on board (est. $7-10 million) at Christie's, while the Hirshhornis parting with a late Picassopainting of a muskateer. Klein has fetched record prices this year, while Picasso's muskateers have been popular ever sinceGagosian spotlighted them in an exhibition three years ago. Directors claim it's all a coincidence. "The sale was not at all market-driven," said Hirshhorn director Richard Koshalek. [NYT]

– Urban Workshop Becomes a Tradition: TheNew Museumhas decided to make its "Festival for Ideas" into a biennial event. The weekend-long production — which includes panels, round tables, symposiums, and workshops — first took place in May 2011. The next iteration will run May 1-4, 2013 and has been rebranded "Ideas City." The festival will examine the future of cities, with the theme "Untapped Capital." In the years the festivial is not taking in place in New York festival, the museum will instead hold three-day conferences in other cities, including Istanbul and New Delhi. [NYT]