A lot will change when the Neue Galerie merges with the Metropolitan Museum of Art but Gustav Klimt's Woman in Gold is going nowhere.

Neue Galerie founder Ronald Lauder said the deal to bring the two New York institutions together by 2028 would see his museum renamed the Met Neue.

They will both share 13 works donated from his family collection including another Klimt as well as pieces by Otto Dix and George Grosz.

Lauder, whose brother Leonard was also a noted collector, said the deal would allow the Met to borrow certain works for exhibitions but not the Klimt painting also known as Portrait of Adele Bloch-Bauer I which he bought in 2006 for $135 million.

The cosmetics heir, who bought it from Maria Altmann after a landmark restitution battle, said: "‘Adele Bloch-Bauer’ stays where it is. It is our Mona Lisa.”

The merger, agreed with Met director Max Hollein, includes funding from the Lauder family to pay for the "long-term care and preservation of the Neue Galerie, with a further pledge of significant funds to support costs associated with the integration of the collection and building operations".

Rene Matic made up for losing out on last year's Turner Prize to Nnena Kalu by winning this year's $40,000 Deutsche Borse Photography Foundation Prize.

The UK artist picked up the award last night at The Photographers' Gallery in London for a show at CCA Berlin which the judges hailed for its "deeply personal work... rooted in community and belonging".

The prize, which aims to recognize the artist who has "made the most significant contribution to international contemporary photography in Europe over the past 12 months", includes a show at the gallery of all the shortlisted artists.

It then travels to the Deutsche Borse Photography Foundation in Eschborn, Germany, from September 3 to January 17.

London's Wellcome Collection is returning more than 2,000 Indian religious manuscripts in a restitution deal that will see them travel just over 100 miles away.

The manuscripts, which have been at the Wellcome for more than a century, are believed to be the largest collection outside India of documents relating to the religion of Jainism.

The restitution deal is the result of several years of discussions between the Wellcome and the Institute of Jainology and will see the manuscripts housed at the Jain Studies program at the University of Birmingham in the English Midlands.

The Wellcome said "more than half" the collection was acquired from a Jain temple in Punjab that no longer exists and was "bought at a low price and against the best interests of their original owners".

1 - New York's Frick Collection has announced a three-year sponsorship deal with luxury fashion firm Louis Vuitton. Director Axel Ruger said the deal, which funds three special exhibitions, a two-year curatorial research job and free evening entry on the first Friday of the month for 10 months, was "critical" to the museum's mission.

2 - Artist Michelle Williams Gamaker is among the jury for Bow Arts 2027 East London Art Prize. Each edition supports 12 artists, showcasing their work through exhibitions and events, and supporting their practice through training and mentoring as well as a $20,000 prize.

3 - Holly Harrison is the new director at Keith House - a nonprofit space in Fort Worth, Texas, based around a James Turrell Skyspace installation. She was previously executive director at Ballroom Marfa in the same state.

4 - More than 1,400 artists are opening their studios for the three-day Art-A-Whirl event in Minneapolis. The event, which starts today, has run since 1996 when a small group of artists who had recently set up in some of the city's disused factories first opened their doors to the public.

5 - Hong Kong's M+ museum has signed a "multi-year strategic partnership" with the Pompidou Center in Paris. The deal means they will collaborate on research, exhibitions, co-commissioning and exchanging works.