lailabwault-blog

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Rapper Soulja Boy jailed on drug, weapons charges

The 21-year-old entertainer, whose given name is DeAndre Cortez Way, and four crew members traveling in a Cadillac Escalade were pulled over in Temple, Georgia on Interstate 20 near the Alabama line, police spokeswoman Dana Rampy said.Police discovered marijuana, pistols and cash inside the car after a "routine traffic stop," Rampy said. She declined to disclose the amount of marijuana or money.The rapper, three bodyguards and a driver each were arrested on felony charges of possession of marijuana, possession of marijuana with intent to distribute and possession of a firearm, Rampy said.All five men were booked into the Carroll County jail.A puppy found in the car has been turned over to relatives of the driver, Rampy said.Soulja Boy first gained fame with online postings of his songs and his "Crank That" dance demonstration.Last month, he apologized for lyrics in a song called "Let's Be Real" that offended some U.S. Army soldiers. In a video posted online for the song, Soulja Boy rapped the lyrics "Fuck the FBI and fuck all the Army troops/Fighting for what?/Bitch be your own man."Media outlets reported that stores run by the military would not carry his new album because of the song.

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New Issue-BNG adds 50 mln stg to 2015 bond

Borrower Bank Nederlandse Gemeenten (BNG)Issue Amount 50 million SterlingMaturity Date December 23, 2015Coupon 2.375 pctIssue price 102.267Payment Date October 25, 2011Lead Manager(s) Barclays CapitalRatings Aaa (Moody's), AAA (S&P),AAA (Fitch)Listing AmsterdamFull fees UndisclosedDenoms (K) 1Governing Law DutchNotes The issue size will total 525 millionSterling when fungibleSecurity details and RIC, when available, will beonCustomers can right-click on the code forperformance analysis of this new issueFor ratings information, double click onFor all bonds data, double click onFor Top international bonds newsFor news about this issuer, double click on the issuer RIC,where assigned, and hit the newskey (F9 on Reuters terminals)Data supplied by International Insider.

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Merrill revenue, assets fall amid market slump

* Financial adviser ranks up 475 to 16,722By Joseph A. GiannoneOct 18 (Reuters) - Volatile markets and souring mortgages slashed earnings by nearly a third at Bank of America's wealth management businesses during the third quarter.BofA's money management arm, which includes brokerage giant Merrill Lynch and private banking unit U.S. Trust, earned $347 million in the September quarter, down 31 percent from the second quarter, as potential mortgage losses prompted the bank to more than double the amount it set aside for possible future losses, to $162 million.Revenue from these businesses fell 5.8 percent to $4.23 billion in net revenue, reflecting what many strategists have called the most difficult market environment since 2008.The bank said customers withdrew a net $2.6 billion of "liquidity assets" such as money market funds during the quarter, but added $4.5 billion into stocks, bonds and other investments.Those in-flows helped propel asset management fees to a record $1.56 billion during the quarter.In its first earnings report after the abrupt departure of division president Sallie Krawcheck last month, BofA said Merrill Lynch third-quarter revenue slipped 1.9 percent from the second quarter, to $3.43 billion, while client balances fell 5.7 percent.Total client balances -- brokerage assets, deposits and loans -- at Merrill fell 6.3 percent to $2.06 trillion. mass-market audience.(To read about Bank of America's company wide results, click on)BROKER RANKS RISEMerrill continued to make gains in recruiting. Its ranks of financial advisers rose by 475 to 16,722, second only to the roughly 17,800 advisers at Morgan Stanley Smith Barney.Merrill's adviser count includes trainees. It also includes the roughly 1,000 Merrill Edge associates who work in BofA branches and call centers targeting a less affluent, mass market audience.Per-adviser revenue production fell for a second straight quarter to an annualized $854,000, excluding Merrill Edge advisers. Merrill did not disclose the net addition or withdrawal of assets, a key measurement for brokerages.Compared with the year-earlier period, global wealth and investment management earnings rose 29 percent, and revenue rose 9 percent, on higher asset-management fees, interest income and commissions.U.S. stocks posted their worst quarter since 2008, hammered by Europe's spreading debt crisis, a downgrade of the United States' credit rating and a sluggish economy. The S&P 500 Index fell by more than 14 percent during the period.

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Merrill revenue, assets fall amid market slump

* Financial adviser ranks up 475 to 16,722By Joseph A. GiannoneOct 18 (Reuters) - Volatile markets and souring mortgages slashed earnings by nearly a third at Bank of America's wealth management businesses during the third quarter.BofA's money management arm, which includes brokerage giant Merrill Lynch and private banking unit U.S. Trust, earned $347 million in the September quarter, down 31 percent from the second quarter, as potential mortgage losses prompted the bank to more than double the amount it set aside for possible future losses, to $162 million.Revenue from these businesses fell 5.8 percent to $4.23 billion in net revenue, reflecting what many strategists have called the most difficult market environment since 2008.The bank said customers withdrew a net $2.6 billion of "liquidity assets" such as money market funds during the quarter, but added $4.5 billion into stocks, bonds and other investments.Those in-flows helped propel asset management fees to a record $1.56 billion during the quarter.In its first earnings report after the abrupt departure of division president Sallie Krawcheck last month, BofA said Merrill Lynch third-quarter revenue slipped 1.9 percent from the second quarter, to $3.43 billion, while client balances fell 5.7 percent.Total client balances -- brokerage assets, deposits and loans -- at Merrill fell 6.3 percent to $2.06 trillion. mass-market audience.(To read about Bank of America's company wide results, click on)BROKER RANKS RISEMerrill continued to make gains in recruiting. Its ranks of financial advisers rose by 475 to 16,722, second only to the roughly 17,800 advisers at Morgan Stanley Smith Barney.Merrill's adviser count includes trainees. It also includes the roughly 1,000 Merrill Edge associates who work in BofA branches and call centers targeting a less affluent, mass market audience.Per-adviser revenue production fell for a second straight quarter to an annualized $854,000, excluding Merrill Edge advisers. Merrill did not disclose the net addition or withdrawal of assets, a key measurement for brokerages.Compared with the year-earlier period, global wealth and investment management earnings rose 29 percent, and revenue rose 9 percent, on higher asset-management fees, interest income and commissions.U.S. stocks posted their worst quarter since 2008, hammered by Europe's spreading debt crisis, a downgrade of the United States' credit rating and a sluggish economy. The S&P 500 Index fell by more than 14 percent during the period.

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U.S. not "trying that hard" on exports: GE's Immelt

That is a big concern since boosting exports is one of the best ways the nation can tackle the stubbornly high unemployment that is leading a growing number of Americans to question how well the economic system is working."We're not trying that hard," Immelt told a Thomson Reuters Newsmaker event in New York on Monday. "We haven't really tried as hard as we can to compete, educate and sell our products around the world, and I think we can do better."Still, the head of the largest U.S. conglomerate and a top adviser to the Obama administration on jobs and the economy believes the United States can improve. He noted that GE expects to generate 60 percent of its sales outside its home country this year.He held out Germany -- home to one of GE's biggest rivals, Siemens AG -- as an example of a wealthy country that has been successful in pushing exports."Chancellor (Angela) Merkel flies from Berlin to Beijing, there's 25 German CEOs that go on the plane right behind her. And they connect the dots. They play hard, they play to win," Immelt said.President Barack Obama, he added, "has been out driving and pushing to try to double exports in the next five years. I think we can compete very well. But we're not all-in the same way that the Germans are all-in."The nation's economic malaise, now in its third year, has left many Americans angry and frustrated, Immelt said, and people in power need to empathize."Unemployment is 9.1 percent. Underemployment is much higher than that, particularly among young people that don't have a college degree," Immelt said. "It is natural to assume that people are angry, and I think we have to be empathetic and understand that people are not feeling great."A large and diverse group of protesters, who complain that the U.S. economic system is no longer working to the benefit of a large slice of the nation's population, has been a visible presence on Wall Street for a month now. The movement, known as "Occupy Wall Street," has spread around the country.The protesters complain that the billions of dollars the U.S. government spent during the recession to prop up financial companies, including GE, have allowed banks to earn large profits without benefiting average Americans.GROWTH THE ONLY ANSWERThe head of the world's largest maker of jet engines and electric turbines said he regarded stronger growth as the only real answer to the rising disillusionment."The only way to solve this specific problem is growth," Immelt said. "If unemployment comes down, people will feel better. If unemployment goes up, people will feel worse, no matter what goes on Wall Street."Immelt said the gap between the pay of CEOs and average Americans is adding to tensions."The discrepancy is certainly one of the problems today in terms of why people feel the system is unfair," Immelt said.But he said that lowering CEO pay would do little to lower unemployment. Immelt received compensation worth $21.4 million last year, including a $4 million bonus that was his first since 2007."If CEO pay goes way down and unemployment is 12 percent, people are still going to feel bad," he said. "It is a symptom but it is not the problem."Immelt is confident that U.S. business can compete with rivals in emerging markets such as China and also profit in developing markets. He cited Russia as a major focus over the next decade and said GE is also investing in resource-rich African countries including Mozambique, Angola, Nigeria and South Africa.GE expects to generate more than 60 percent of its revenue outside the United States this year. Analysts, on average, expect it to record revenue of $148.13 billion.SEES SLOW EUROPEAN GROWTHConcerns that Greece could default on its debt and threaten the European and U.S. financial systems have rattled the world economy in recent weeks, pushing down stocks and prompting big banks including Bank of America Corp and JPMorgan Chase & Co to begin laying off staffers."The most likely case is that Europe has slow growth for a long period of time," Immelt said. "The process is going to have to be solved inside of Europe."Last week, the White House advisory panel Immelt heads submitted a report to the Obama administration saying that attracting more foreign capital, being more aggressive in energy policy, and investing in infrastructure could help create jobs in an economy struggling with high unemployment.Immelt, a lifelong Republican, has drawn fire from some GE shareholders for his work with the Democratic Obama administration. The CEO defended his role, saying GE executives have long had a voice in Washington."People need to try," he said. "I'd rather be in the arena trying than not doing what I can to help."Partisanship in Washington is hurting the nation's economy by slowing efforts to reform the system, Immelt said, adding that he worried that anti-Wall Street rhetoric hurts people other than those it is aimed at."If your first comment is Wall Street is horrible and you're in a position of leadership, you don't hurt Wall Street," Immelt said. "But there is some guy in Illinois that's not going to build a factory today because he thinks the financial system is horrible. That's my point. This is a time when leaders, people like me, should be trying to do things that are more convergent, because ultimately words count."

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Protesters to rally worldwide against greedy rich

Galvanised by the past month's Occupy Wall Street movement, they plan to take to the streets from Sydney to Alaska via London, Frankfurt, Washington and New York.Riot police prepared for any trouble -- cities such as London and Athens have seen violent confrontations this year -- but it was impossible to say how many people would actually turn out despite a rallying call across social media websites."I've been waiting for this protest for a long time, since 2008," said Daniel Schreiber, 28, an editor in Berlin. "I was always wondering why people aren't outraged and why nothing has happened and finally, three years later, it's happening."The Australian city of Melbourne got the ball rolling on Saturday with about 1,000 gathering peacefully in central City Square, listening to speeches.Nick Carson, a spokesman for OccupyMelbourne.Org, said protests were planned for all of Australia's major cities."I think people want real democracy," he said. "They don't want corporate influence over their politicians. They want their politicians to be accountable. They want proper representation."Elsewhere in traditionally reserved Asia, about 50 gathered in New Zealand's quake-hit city of Christchurch and small demonstrations were expected in the Japanese capital Tokyo.The protests are billed as peaceful. But in a sign of what may happen, a group of students stormed Goldman Sachs's offices in the Italian city of Milan on Friday.The students managed to break into the hall of the Goldman Sachs building in the heart of Milan's financial district. The protests were quickly dispersed but red graffiti was daubed on its walls expressing anger at Prime Minister Silvio Berlusconi and saying "Give us money."Demonstrators also hurled eggs at the headquarters of UniCredit, Italy's biggest bank.Italian police were on alert for thousands to march in Rome against austerity measures planned by Berlusconi's government.SOMETHING HAPPENING HEREIn Britain, demonstrators aim to converge on the City of London -- a leading international financial center -- under the banner "Occupy the Stock Exchange.""We have people from all walks of life joining us every day," said Spyro, one of those behind a Facebook page in London which has grown to some 12,000 followers in a few weeks.Spyro, a 28-year-old who has a well-paid job and did not want to give his full name, summed up the main target of the global protests as "the financial system."Angry at taxpayer bailouts of banks since 2008 and at big bonuses still paid to some who work in them while unemployment blights the lives of many young Britons, he said: "People all over the world, we are saying, 'Enough is enough'."Greek protesters aligned with Spain's "Indignant" movement called an anti-austerity rally for Saturday in Athens' Syntagma square, scene of many demonstrations during Greece's financial meltdown."What is happening in Greece now is the nightmare waiting other countries in the future. Solidarity is people's weapon," the Real Democracy group said in a statement calling on people to join the protest.TIME TO UNITEConcrete demands are few other than a general sense that the "greedy and corrupt" rich, and especially banks, should pay more and that elected governments are not listening."It's time for us to unite; it's time for them to listen; people of the world, rise up!" proclaimed the website United for #GlobalChange. "We are not goods in the hands of politicians and bankers who do not represent us ... We will peacefully demonstrate, talk and organize until we make it happen."In Germany, where sympathy for southern Europe's debt troubles is patchy, the financial center of Frankfurt and the European Central Bank in particular are expected to be a focus of marches called by the Real Democracy Now movement.In the United States, the hundreds of protesters at Manhattan's Zuccotti Park called for more people to join them. Their example has also prompted calls for similar occupations in dozens of U.S. cities from Saturday.In Houston, protesters plan to tap into anger at big oil companies.Still, some analysts thought the protest momentum in some countries such as Greece and Spain was wearing out."More people agree with these protests than actually take part," said Professor Mary Bossis of the University of Piraeus.Despite despair over austerity measures that have slashed wages and pensions and put hundreds of thousands out of work, the spark for sustained action was lacking, she said."There is anger, there is rage ... but what it takes to overturn the current situation is missing," she said.The targets of the protesters' wrath are also unlikely to be around to feel it. The City of London, for example, is deserted at weekends as wealthy city workers head for the golf club, country house or generally enjoy a spot of rest and recreation.

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UPDATE 1-Innkeepers, Cerberus push trial to Wednesday

The trial now is set for 10 a.m. Wednesday in U.S. Bankruptcy Court in Manhattan, according to a court filing. Attorneys for Innkeepers and Cerberus confirmed the delay.Innkeepers sued Cerberus and Chatham after they walked away from a $1.12 billion deal to buy the bankrupt hotel operator. The buyers cited a clause that allowed them to back out if an event occurred that could harm Innkeepers' business.The trial, first scheduled for Monday, has been postponed three times as the sides work toward a settlement that would avoid litigation.The case is Innkeepers USA Trust et al v. Cerberus Series Four Holdings LLC et al, U.S. Bankruptcy Court, Southern District of New York, No. 11-2557.The Innkeepers bankruptcy is In re Innkeepers USA Trust, in the same court, No. 10-13800.