In a thrilling moment for Great Britain, the Armada Portrait of Queen Elizabeth I has been purchased for the nation as the result of an unprecedented countrywide fundraising campaign. The Guardian covers the UK's excitement that the portrait, one of the most famous paintings in British history, will be permanently hung in London's Royal Museums Greenwich. Meanwhile, Bloomberg Pursuits reviews the upcoming publication of Taschen's Automobile Design Graphics, which explores the evolution of car buyers' desires through some of the greatest American advertisements and illustrations of the 20th century. In contemporary art, Artsy identifies 20 emerging Chinese artists who are using innovative techniques and modern means to incorporate Chinese traditions in their work.

In case you missed last week’s edition of The Canvas, explore Vogue's interview with Wendi Murdoch, the future of philanthropy and Africa's latest international hotspot here.

Famous Portrait of Elizabeth I
Saved for England 

After a nationwide fundraising campaign, the Armada Portrait of Queen Elizabeth I has been purchased for Great Britain. The painting, which depicts a triumphant Elizabeth I after the defeat of the Spanish Armada, will hang in Royal Museums Greenwich (RMG). (The Guardian)

20 Emerging Chinese Artists 

From Beijing to Shanghai, Shenyang to the internet, a young crop of Chinese artists are making waves. Their practice and subject matter reflect a new period of Contemporary Chinese art, one that employs modern means to adapt traditional Chinese techniques. (Artsy)

The Incredible Evolution of
Automobile Advertisements

Featuring more than 500 car advertisements, Taschen’s Automobile Design Graphics explores the heyday of the automobile through some of the greatest American illustrations and graphic designs of the 20th century. (Bloomberg Pursuits)

Ronald Lauder Upholds Restitution
at the Neue Galerie

Ronald S. Lauder, co-founder of the Neue Galerie, has long been an advocate of the restitution movement to return Nazi-looted art to its rightful heirs.This week, Mr Lauder announced that a major work may leave the museum's collection due to recent provenance issues. (The New York Times)

An Interview with Gutai Master
Takesada Matsutani

At 79 years old, Takesada Matsutani is amongst the few surviving members of the Gutai Art Association, one of the most dynamic avant-garde movements of the post-war period. Here, the veteran artist describes the way his early work with the Gutai group influenced his career. (Apollo Magazine)

Leading British Artists Produce Prints
for Rio Olympics

Several key British artists have created a portfolio of prints inspired by the 2016 Olympic Games. The group, which includes Tracey Emin, Howard Hodgkin and David Shrigley, were asked to produce prints that celebrate this year’s Olympic city and the spirit of Team Great Britain. (Blouin Artinfo)

Other Stories We Love

• A Billionaire Is Opening a Private Art Museum in Manhattan (The New York Times)

• Il Sereno, Europe’s Most Luxurious New Hotel (Bloomberg Pursuits)

• An Artist’s Augmented Reality App Reveals Virtual Art across Miami (Artsy)