Ray J to Bank $1 Million for Prince Reigns Ad

Ray J is once again making serious bank by embracing a naked woman.

The hip hop star, best known for giving it to Kim Kardashian on tape, is one of two new spokespeople for some shaving gel from a company called Prince Reigns.

Then again, perhaps we should withhold all mockery, considering the company is apparently doing well enough to offer both Ray J and Sophie Monk - the topless woman Ray is hugging on the billboard below - $1 million each for their role in this campaign.

At this rate, Ray J may never need to make a living while wearing clothes.

He also may need to make regular STD appointments.

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Must See HDTV (April 30th - May 6th)

Mayweather/Cotto
While its not the Mayweather/Pacquiao boxing match fans want to see, this is the fight we have. Miguel Cotto believes he's in position to send Floyd Mayweather Jr. home with his first ever loss and surprisingly, some boxing experts agree with him. We'll see if Cotto's strength is enough to overcome Mayweather's speed and defensive prowess, but as usual, the story here is the fight that's not on the card.
(May 5th, 9PM, HBO PPV)

NBA Playoffs
A knee injury to Chicago's Derrick Rose has significantly shifted the balance of power in this year's NBA Playoffs. While the Bulls suddenly have to try and win without their superstar, the triumvirate down in Miami is suddenly under even more pressure to get the job done with two of the Eastern Conference's best players (Rose, Dwight Howard) out for the season. Out west the early games showed it will be a battle no matter what seeds are matching up, your guess is as good as ours as to who will come out of that conference and vie for the title in a few weeks.

Continue reading Must See HDTV (April 30th - May 6th)

Must See HDTV (April 30th - May 6th) originally appeared on Engadget on Mon, 30 Apr 2012 18:33:00 EDT. Please see our terms for use of feeds.

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Louis C.K., Bjork among Webby Awards winners

FILE -- In a Tuesday, June 1, 2010 file photo, Bjork attends Marina Abramovic's "The Artist is Present" exhibition closing party hosted by Givenchy at the Museum of Modern Art in New York. Bjork won a 2012 Webby Award for Artist of the Year. (AP Photo/Charles Sykes, File)

FILE -- In a Tuesday, June 1, 2010 file photo, Bjork attends Marina Abramovic's "The Artist is Present" exhibition closing party hosted by Givenchy at the Museum of Modern Art in New York. Bjork won a 2012 Webby Award for Artist of the Year. (AP Photo/Charles Sykes, File)

NEW YORK (AP) ? When Louis C.K. released his comedy special "Live at the Beacon Theater" by himself on his website for $5, it was little more than a cautiously optimistic experiment.

Less than two weeks later, it had reaped more than $1 million. Already among the most respected stand-ups in the country, Louis C.K. was suddenly a new media trailblazer, too.

On Tuesday, the Webby Awards announced Louis C.K. is their "person of the year" for setting "a new precedent for distribution." Comedians Aziz Ansari and Jim Gaffigan have since similarly released albums online.

The Webbys, which celebrate Internet achievement, announced the winners of its 16th annual awards on Tuesday. The International Academy of Digital Arts and Sciences, which present the awards, shared the winners with The Associated Press shortly before they were to make an official announcement.

The awards spanned the breath of the Internet, from mobile apps like Instagram and Pinterest that have disrupted social media, to entertainers charting new digital ground, like Louis C.K. and Bjork.

Bjork was named artist of the year. Last year, the Icelandic musician released the album "Biophilia" as a multimedia presentation of music and apps.

She was among the special recognitions named by the Webbys, which also cited the photo app Instagram as breakout of the year. It was recently acquired by Facebook for $1 billion.

"It's been a huge year of change," said David-Michel Davies, executive director of the International Academy of Digital Arts & Sciences, a group of about 1,000 Web experts and Internet professionals.

Also specially honored were Juliette Lewis and Graydon Sheppard, who share the award for best actress for the viral video "S--- Girls Say." The video, which parodies common expressions, has been watched more than 16.2 million times on YouTube and spawned a viral sensation of countless similar videos. Sheppard, a male comic, appears in drag in the video.

In more than 130 regular categories, the Webbys give two winners per category: an official Webby award and a "people's voice" pick chosen from online votes.

Ferrell, who co-founded the comedy website Funny Or Die, won best individual performance for a video in which he reprised his impression of President George W. Bush, reacting to Osama Bin Laden's death.

The Onion won for best humor website and its video arm, the Onion Network, earned best writing in an online video for its satirical morning TV show video: "How to Get a Guy to Notice You While You're Having Sex With Him."

The pinboard-style website Pinterest won for best social media app, as well as a people's voice award for best functioning visual design. Best music app went to the streaming service Spotify, which Davies said typified "the intersection we're seeing between social and entertainment."

HBO Connect won for best TV website. The New Yorker's website won for best editorial writing.

One new category, people's special achievement for social change, went to Facebook. The award, which was voted for online, honors "important Internet work that played an integral role in advancing and organizing the masses."

The awards will be handed out in a May 21 event at the Hammerstein Ballroom in New York. Patton Oswalt will host the awards, whose winners are famously restricted to five-word acceptance speeches.

___

Online:

http://wbby.co/winners

Associated Press

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Delicious Stop-Motion Food Rap Satisfies Your Craving for Hot Jams [Video]

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RBI's rupee defence gets fresh jolt from S&P

MUMBAI (Reuters) - The Reserve Bank of India's battle to contain a falling rupee just got tougher. The current account deficit is widening and a weak global investment climate coupled with policy paralysis in New Delhi, sticky inflation and slowing growth have increased the aversion of foreign investors to India, pushing the capital account into the red.

Last week's move by rating agency Standard & Poor's to cut the country's credit rating outlook to "negative" has complicated matters further for the RBI, which has few options other than intervention and tinkering with rules on export credit to encourage inflows, RBI officials say.

"The main problem now is lack of confidence among investors and this is getting reinforced every time by either data or events like S&P cutting rating outlook," said a senior RBI official who is not authorised to speak on record to the media.

"When risk aversion is high, the success rate of intervention is low and that is why we are seeing rupee at such low levels despite intervention," he added.

The rupee fell as much as 0.5 percent immediately after S&P's move but has recovered much of that loss.

Still, it is down nearly 6 percent since February, recording most of the drop in March and April as foreign investment dried up. It had touched a record low of 54.30 to the dollar in December.

India's balance of payments slipped into the red for the first time in three years in the December quarter as dollar inflows shrunk and imports soared.

It could worsen given India's need to import 80 percent of its oil, high crude prices, and unhappy foreign investors.

Foreign investments into Indian stocks have swung into negative with an $545 million outflow in April from a robust $7.1 billion net inflow in February. Foreign direct investments fell to $2.2 billion in February from $5.7 billion in May 2011.

"SYMBOLIC SIGNIFICANCE"

These are some of the concerns that UBS took into account when it said it expects the rupee to test 56 per dollar this year.

"If we are right that the exchange rate takes its cues more from the capital account side till better fundamentals emerge then regulatory risk must rise in importance," UBS wrote in the note.

"In this respect (the) negative outlook on India sovereign credit by S&P may not have much immediate impact, but has great symbolic significance."

That leaves RBI in a bind. Selling dollars to defend the rupee without policy reforms provides only temporary respite and further reduces its reserves.

India's foreign reserves fell to around $295 billion on April 20 from about $321 billion on September 2, after the RBI sold dollars to prop up the currency.

The RBI is officially agnostic about the level of the currency but steps in to smooth volatility and took several administrative and market moves to defend it in late 2011.

The RBI has sold $20.14 billion in the spot market from September to February besides intervening in the forwards.

The country's foreign exchange cushion is dwindling. S&P figures India has reserves to cover about six months of current account payments, down from eight months in 2008 and 2009.

"We work only reactively when it comes to the currency. The proactive measures are to be taken by the government. Surely it will be a problem for us to control the currency if they (government) don't do so," said a second RBI official.

However, if S&P's move forces New Delhi to get its act together, then funds could return quickly, given India's robust long-term growth prospects.

New Delhi, embroiled in several corruption scandals, has put off foreign investors with recent plans to retroactively tax indirect investments and target tax havens. The Congress party-led government's bargaining power to push through key reforms like raising fuel prices and allowing foreign supermarket chains was further weakened after recent state election defeats.

"Economic activity is going on - we do not have lock-outs in factories. But government is not facilitating as it is too busy fire-fighting corruption, scams," said the third RBI official.

(Editing by Tony Munroe and Ramya Venugopal)

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