LOS ANGELES (TheWrap.com) – If you liked the music in the trailer for Baz Luhrmann‘s “The Great Gatsby,” you’ll be happy to hear Jay-Z isn’t just lending a few of his songs to the soundtrack, he’s composing the upcoming film’s entire original score.
The rapper is, apparently, hard at work to accomplish the task with another artist, who goes by the name The Bullitts.
The latter broke the news on Twitter in the early morning hours Sunday.
“Jay-Z and myself have been working tirelessly on the score for the upcoming #CLASSIC ‘The Great Gatsby,’” Bullitts exclaimed. “It is too DOPE for words!”
Don’t expect the collaborators to start producing tunes from the Roaring Twenties. The trailer certainly indicates otherwise and Luhrmann mixed in modern music for “Romeo + Juliet,” as well as the musical period piece “Moulin Rouge!”
It appears the flappers in Luhrmann’s latest film will be dancing to a very different beat than what F. Scott Fitzgerald imagined while writing his classic novel.
“The Great Gatsby,” starring Leonardo DiCaprio and Tobey Maguire, hits theaters on May 10.
Warner Bros. and Jay-Z‘s rep did not immediately respond to TheWrap’s request for comment.
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FRANKFURT (Reuters) – German drugmaker Bayer said its drug Nexavar reached a goal of improving the survival of patients with a certain type of thyroid cancer in a late-stage trial.
It said on Thursday it plans to submit data from the trial as the basis for marketing approval of Nexavar to treat radioactive iodine refractory differentiated thyroid cancer.
(Reporting by Maria Sheahan)
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BANGKOK (AP) — World markets registered relief Wednesday over the U.S. congressional vote to stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world’s biggest economy into recession.
Benchmarks in Australia and Hong Kong boomeranged on the first trading day of the year, just before Congress passed an emergency measure to avert much of the impact of tax-and-spending changes that were so steep they were dubbed the “fiscal cliff.” Asian markets had slipped on Monday, fearing that negotiations over the measure might collapse.
Economists have been warning that the tax increases and spending cuts could take a chunk out of the U.S. economy; some experts predicted financial markets would plunge unless a clear-cut deal was reached.
Instead, markets in Asia and Europe blessed the stopgap measure approved late Tuesday in Washington to retroactively counter some of the “fiscal cliff” effects. The bill Congress passed awaits President Barack Obama‘s signature.
Hong Kong’s Hang Seng index shot up 2.9 percent to close at 23,311.89, its highest finish since June 1, 2011. Australia‘s S&P/ASX 200 surged 1.2 percent to close at 4,705.90, its strongest finish in 19 months. South Korea’s Kospi jumped 1.7 percent to 2,031.10.
European stocks jumped shortly after opening. Britain’s FTSE 100 rose 1.6 percent to 5,989.24. Germany’s DAX advanced 1.7 percent to 7,740.12 and France’s CAC-40 also gained 1.7 percent at 3,701.90.
“People are very relieved this morning because the U.S. is very likely to fix its own problems in the next few days, so investors in Hong Kong are pretty optimistic,” said Jackson Wong, vice president of Tanrich Securities in Hong Kong.
But some analysts said that expectations for a compromise were so low that any deal was viewed as positive.
“Among business leaders, I’m gonna say this deal isn’t enough to move the needle on confidence. It may improve consumer confidence a little, investors obviously are celebrating a tentative deal but you know how transitory investor confidence can become,” said Jack Ablin, chief investment officer at BMO Group.
Benchmarks in Singapore, Taiwan, India, the Philippines, Thailand and Indonesia posted solid gains. Markets in Japan and mainland China reopen Friday.
Uncertainty about the outcome of negotiations drove down Asian regional stocks Monday, the last trading day of 2012.
Australia’s S&P/ASX 200 fell 0.5 percent to close at 4,648.90, as investors sold off stocks to lock in profits. Hong Kong’s Hang Seng closed marginally lower. Singapore, New Zealand and India also declined. Japan and South Korea were closed.
The bill that Congress approved calls for higher taxes on incomes over $ 400,000 for individuals and $ 450,000 for couples, a victory for Obama. Earnings above those amounts would be taxed at a rate of 39.6 percent, up from the current 35 percent. It also delays for two months $ 109 billion worth of across-the-board spending cuts that had been set to start affecting the Pentagon and domestic agencies this week.
Lorraine Tan, director at Standard & Poor’s equity research in Singapore, said she believes U.S. growth in 2013 will be able to offset the impact of the tax increases and that companies would feel freer to spend now that the U.S. has taken a step back from the edge of the cliff.
Companies “can start to move ahead with any expansion plans they may have,” Tan said. “You’ll see some of that pent-up spending in 2013. And I think there’s a lot of relief related to that.”
Even if Washington bypasses the fiscal cliff, the next crisis is just around the corner, in late February or early March, when the government reaches a $ 16.4 trillion ceiling on the amount of money it can borrow.
Republicans say they won’t go along with raising the limit on government borrowing unless the increase is matched by spending cuts to help attack long-term debt. Failing to raise the debt ceiling could lead to a first-ever U.S. default that could roil financial markets and shake worldwide confidence in the United States.
“Republicans vow not to raise the limit without sharp cuts in spending and Obama vows not to cut spending without further tax hikes. Two more months of shenanigans and waffling / seasick markets? It certainly looks that way,” analysts at DBS Bank Ltd. in Singapore said in a market commentary.
U.S. stocks shot higher Monday on the belief that lawmakers would work out a deal. The Dow Jones industrial average rose 1.3 percent to 13,104.14. The Standard & Poor’s 500 rose 1.7 percent to 1,426.19. The Nasdaq composite index rose 2 percent to 3,019.51.
Political gridlock has been rattling U.S. markets and shaking consumer and business confidence the past two years.
To end a 2011 standoff over raising the federal debt limit, lawmakers agreed to a Jan. 1, 2013 deadline to reach a deal over taxes and spending. If there was no agreement, more than $ 500 billion in tax increases would hit the economy in 2013 alone, along with $ 109 billion in cuts from the military and domestic spending programs — hence the fiscal cliff.
After a fight over raising the debt limit last year, the credit rating agency Standard & Poor’s took the unprecedented step of lowering the U.S. government’s AAA bond rating because of the lack of a credible plan to reduce the federal government’s debt.
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Follow Pamela Sampson on Twitter at http://twitter.com/pamelasampson
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TAMOUN, West Bank (AP) — An arrest raid by undercover Israeli soldiers disguised as vegetable vendors ignited rare clashes in the northern West Bank on Tuesday, residents said, leaving at 10 Palestinians wounded.
Israeli army raids into Palestinian areas to seize activists and militants are fairly common. The raids are normally coordinated with Palestinian security forces, and suspects are usually apprehended without violence.
The clashes began early Tuesday after Israeli forces disguised as merchants in a vegetable truck arrested one man. Regular army forces then entered the town, prompting youths to hurl rocks to try to prevent more arrests.
Israeli forces fired tear gas, rubber bullets and live ammunition as youths set tires and bins on fire to block the passage of military vehicles. In several hours of clashes, dozens of masked youths hid behind makeshift barriers, hurling rocks and firebombs at soldiers.
Faris Bisharat, a resident of Tamoun, said 10 men were wounded, some by live fire. Bisharat said the wanted men belong to Islamic Jihad, a violent group sworn to Israel’s destruction. It wasn’t clear how many men Israeli forces sought to arrest. There were no immediate details on how seriously the 10 were hurt.
The Israeli military said it arrested a “terrorist affiliated with the Islamic Jihad terror group.” It said two soldiers were injured during the raid.
The fighting, which broke out in several parts of the town of some 8,000 people, were a rare, angry response. It was also unusual for Israeli forces to use live fire toward Palestinian demonstrators. Israel says it uses live fire only in extremely dangerous situations.
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We realize there’s only so much time one can spend in a day watching new trailers, viral video clips, and shaky cell phone footage of people arguing on live television. This is why every day The Atlantic Wire highlights the videos that truly earn your five minutes (or less) of attention. Today:
RELATED: ‘Roseanne’ Predicted Internet Addiction; A Weather Alert from Hell
Filmmaker Ryan James Yezak boiled down the biggest stories of 2012 into four minutes. And, yes, Honey Boo Boo made it in there:
RELATED: Even Batman Gets Tripped up by Apple Maps
RELATED: The Videos You Shouldn’t (and Probably Couldn’t) Try at Home
So, raise your hand if you knew Patrick Stewart and company were having this much fun behind the scenes at Star Trek: The Next Generation.
RELATED: Here’s a Video of George Takei Reading ’50 Shades of Grey’
RELATED: Cookie Monster Batman and the Dog You Wish You Had
Marvel’s Stan Lee — the guy who created characters like the Amazing Spider-Man, Thor, the Incredible Hulk, Iron Man, and the X-Men — turned 90 the other day. In honor of him and his heroes, here are all his cameos from all of the Marvel movies he helped create:
And, finally, it’s 2013 somewhere… right? Please take caution when announcing that news to this very excitable baby. Happy New Year!
Wireless News Headlines – Yahoo! News
LOS ANGELES (AP) — Police say a paparazzo was hit by a car and killed after taking photos of Justin Bieber‘s white Ferrari on a Los Angeles street.
Los Angeles police Officer James Stoughton says the photographer, who was not identified, died at a hospital shortly after the crash Tuesday evening. Stoughton says Bieber was not in the Ferrari at the time.
The sports car was parked on the side of Sepulveda Boulevard near Getty Center Drive after a traffic stop. The photographer was struck as he walked across the boulevard after taking pictures.
Stoughton says no charges are expected to be filed against the motorist who hit the man.
A call to a spokesperson for the singer was not immediately returned Tuesday night.
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WASHINGTON (Reuters) – Setting a looming deadline to avert self-created calamity has become a frequent device for the U.S. Congress to get things done in recent years. When all else fails, as it often does, it’s supposed to frighten members into action.
That was the idea when Congress created the “fiscal cliff” in August, 2011 to resolve a partisan struggle, also with a deadline and also self-created, over raising the federal debt ceiling.
Catastrophic budget cuts, timed to coincide with the threat of hefty income tax increases, would finally produce big cuts in the soaring federal budget by December 31, 2012, or else.
It didn’t work.
Congress scared everyone but Congress, which while cutting taxes for most and raising them for a few, made no pretense of trying to make any progress toward reducing the deficit.
“We created a monster,” Democratic Representative Charles Rangel of New York said on the floor of the House of Representatives on Tuesday night just before a House vote averted most of the effects of the fiscal cliff.
“This fandango was an immense embarrassment,” American Enterprise Institute scholar Norm Ornstein said in an interview with Reuters, calling it “cringeworthy.”
And “the fact that we are going to have another disastrous confrontation over the debt limit in two months, with the radical right wing of the House Republicans determined to send us over the edge if they don’t get their way, is actually frightening.”
“This House could have done worse, by rejecting the plan” to avoid the cliff, he said, “but it has done nothing to challenge its record as at minimum the worst Congress in our lifetimes.”
The next confrontation to which Ornstein referred is likely to start heating up in a matter of weeks in anticipation of the need to once again raise the borrowing limit for the government beyond the current level of about $ 16 trillion. The risk will be a default by the government.
‘PSYCHOLOGICAL FALLOUT’
Republicans in Congress, many of whom acknowledged publicly that they took a beating from President Barack Obama in the contest over the cliff, are promising to pursue spending cuts with extra vigor as a condition for approving the debt ceiling increase in the Republican-controlled House.
Historically, each partisan grudge match over spending has tended to make the next one even more bitter.
Alice Rivlin, a former U.S. budget director and Brookings Institution budget expert, also worries about “psychological fallout” from the battle over the cliff that could spill over into the debt ceiling struggle as well as contribute to the global perception that when it comes to the economy, the U.S. can’t govern itself.
“It’s very bad for the economy,” she said in an interview with Reuters, “and for our image in the world. We don’t look like a country in charge of its own destiny. That’s hard to quantify but it’s bad.”
“This is a Congress that can barely get its work done – especially when confronting the most important issues of the day,” said Sarah Binder, a George Washington University expert on Congress.
“In many ways, public disgust with Congress is already baked in: the public’s expectations are so low that it’s hard for Congress to surprise us,” she said in an interview with Reuters.
That wasn’t the way Minority Leader Mitch McConnell – the chief architect of the cliff – expressed it on August 1, 2011 as he spoke on the Senate floor.
“It might have appeared to some as though their government wasn’t working,” he said, “but in fact the opposite was true. The push and pull Americans saw in Washington these past few weeks was not gridlock, it was the will of the people working itself out in a political system that was never meant to be pretty.”
Republican Representative David Dreier of California expressed a similar sentiment Monday night as the House closed the loop on the plan McConnell designed.
“This is the greatest deliberative body known to man,” he said.
(Editing by Eric Walsh)
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(Reuters) – When several Colombian men were indicted in January 2010 on money-laundering charges, the case in Brooklyn federal court drew little attention.
It looked like a bust of another nexus of drug traffickers and money launderers, with mainly small-time operatives paying the price for their crimes.
One of the men was Julio Chaparro, a 48-year-old father of four who owned three factories that made children’s clothing in Colombia.
But to U.S. authorities the case was anything but ordinary. Chaparro, prosecutors alleged, helped run a money-laundering ring for drug traffickers that took advantage of lax controls at UK-based international banking group HSBC Holdings Plc. It was one of the most important leads for U.S. investigators pursuing a case against the bank that eventually led to a $ 1.9 billion settlement on December 11.
Chaparro was “basically putting the orchestra together” and investigators saw “him as a major player in terms of cleaning a lot of money,” said James Hayes, special agent in charge of Homeland Security Investigations at U.S. Immigration and Customs Enforcement in New York. Known as ICE, the agency and its task force led the probe.
The Colombian’s lawyer, Ephraim Savitt, said Chaparro was a middleman in the operation, but disputed the extent of his client’s role, saying he was the “page turner of sheet music for the conductor.”
Chaparro, who was arrested in Colombia in 2010 and extradited to the United States in 2011, pleaded guilty to a money-laundering conspiracy count in May and is awaiting sentencing in 2013.
An HSBC spokesman declined comment.
Much about the trail that drug traffickers used to move U.S. dollars – the proceeds from drug sales – through HSBC and other banks remains unclear. By design, the process is layered to evade detection.
But a review of confidential investigative records that originate from two U.S. Attorney office probes and federal court filings in New York and California, as well as interviews with senior law-enforcement officials, shows how investigators tracing the activities of people who allegedly worked with Chaparro were able to expose large-scale money laundering at one of the world’s biggest banks.
The federal law-enforcement task force – named after El Dorado, the mythical city of gold in South America – used wire taps, email and computer searches, information from at least one inside source, and old-fashioned surveillance, to piece together the ring’s operations.
SMUGGLED ACROSS BORDER
Drug cartels sold narcotics in the United States and routed the cash to Mexico, often using couriers to smuggle it across the border. That cash would then be put into bank accounts at HSBC‘s Mexico unit, where large deposits could be made without arousing suspicion, according to U.S. Department of Justice documents.
In one filing, U.S. prosecutors said, Chaparro and others allegedly utilized accounts at HSBC Mexico to deposit “drug dollars and then wire those funds to … businesses located in the United States and elsewhere. The funds were then used to purchase consumer goods, which were exported to South America and resold to generate ‘clean’ cash.”
In a typical transaction, a middleman in a drug cartel would offer to deliver consumer goods, such as computers or washing machines, to Colombian businesses on favorable terms. Another person in the United States would buy the goods from firms using funds from drug trafficking, and fulfill those orders.
Money launderers exploited the laxness of HSBC in policing shadowy money flows, the Department of Justice said earlier this month. Failures included not conducting due diligence on customers, not adequately monitoring wire transfers or cash shipments and not having enough employees to run anti-money laundering systems. U.S. Assistant Attorney General Lanny Breuer called the lapses “stunning failures of oversight.”
The situation was so bad, according to the Department of Justice, that in 2008, the head of HSBC‘s Mexican operations was told by Mexican regulators that a local drug lord described the bank as “the place to launder money.”
The Chaparro probe, led by ICE and the Justice Department, converged over the past two years with two other investigations – led by federal prosecutors and investigators in West Virginia and by the Manhattan district attorney – resulting in this month’s settlement with HSBC.
HSBC and its employees avoided criminal indictments, as the bank agreed instead to a deferred-prosecution deal that forces it to strengthen controls and accept a compliance monitor.
Today, Chaparro sits in a federal detention center in Brooklyn, reading the Bible and awaiting sentencing, said Savitt, a former U.S. prosecutor in Brooklyn, who submitted a list of questions to Chaparro for Reuters.
“He is contrite, regretful and ashamed about his crimes,” Savitt said. “He wants to serve his time and rejoin his family. He understands that a prison term could prevent that from happening for many years.”
Under federal guidelines, he could face 15 to 18 years in prison.
ON CHAPARRO’S TRAIL
The El Dorado federal task force, based in a building on the west side of Manhattan near Chelsea Piers, serves as an umbrella organization for some 250 law-enforcement officials from state, local and federal agencies.
One of the task-force supervisors is Lieutenant Frank DiGregorio, a former New York detective who spent years tracking the so-called Black Market Peso Exchange, which is used to convert dollars to Colombian pesos through trading in goods. DiGregorio along with two younger investigators – Graham Klein and Carmelo Lana – led the HSBC case.
The overall probe began in 2007 when investigators analyzed how courier companies ferried cash through airports in Miami and Houston, a person familiar with the case said. They ultimately tracked that to HSBC‘s operations in Mexico and then connected it to funds moving through New York.
A tipping point in the investigation came in 2009 when El Dorado agents arrested a man named Fernando Sanclemente. Two sources familiar with the case say Sanclemente was an operative in Chaparro’s network.
Sanclemente, who was charged with allegedly conducting financial transactions tied to narcotics trafficking, is free on bail with a $ 200,000 bond, according to the latest court docket entry, which dates to January 2012. His lawyer, James Neville, declined to discuss the status of the case.
According to a criminal complaint filed against him by Lana, the El Dorado agent, on June 30, 2009, task force agents followed Sanclemente for more than two hours as he drove around Queens in New York to ferry cash from drug sales.
Sanclemente first met with a person for about “30 seconds” on one street corner, and left with a yellow plastic bag. Later that night, he drove to a Dunkin’ Donuts near LaGuardia Airport, where a black livery cab pulled up and the driver handed him a black bag.
The El Dorado team followed Sanclemente to Laurel Hollow, New York, some 40 minutes away, where the investigators stopped and searched him, finding about $ 153,000 in the two bags. At Sanclemente’s apartment, investigators said they found ledgers and documents consistent with money laundering.
With the arrest, investigators gained insight into Chaparro’s alleged transactions. At one point, investigators set up undercover bank accounts where they were able to get Chaparro’s network to wire proceeds that could be traced back to HSBC‘s Mexico operations, according to people familiar with the situation and a Department of Justice filing in the HSBC case.
Federal agents would ultimately home in on $ 500 million that had moved from HSBC Mexico to HSBC‘s operations in the United States, according to the confidential investigative records.
Between October 6, 2008 and April 13, 2009, Chaparro and others conducted money laundering transactions totaling $ 1.1 million tied to narcotics trafficking, the indictment against Chaparro alleged.
(Reporting By Carrick Mollenkamp and Brett Wolf of the Compliance Complete service of Thomson Reuters Accelus; Additional reporting by Tomas Sarmiento Cordero in Mexico City and Aruna Viswanatha in Washington; Editing by Paritosh Bansal and Martin Howell)
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Ringing in 2013 properly requires a few things: bottom-shelf champagne, “I survived the apocalypse” t-shirts, excessive sequins and — most importantly — New Year’s resolutions that may or may not last beyond February.
[More from Mashable: These Are the Worst Case Scenarios for New Year’s Eve]
You promise to lose weight or quit smoking or stop stalking your ex on Facebook, but what about those people that shoot for a slightly different goal in the new year? Sometimes these resolution-makers come up with brilliant challenges and other times — well, ummm — they share goals that are more “WTF?” than an adult dressed like the New Year’s baby.
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BONUS: 14 Solutions to Your New Year’s Midnight Kiss
There’s got to be one crawling around somewhere. What’s cuter than kissing a baby’s fat cheek? Photo by Win McNamee/Getty Images
Click here to view this gallery.
Image Credit: Mashable composite. Photos via iStockphoto, Adventure_photo and Seanicer
This story originally published on Mashable here.
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