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Louis Vuitton & Kanye West are teaming up to create a line of men's shoes for the LVMH-owned luxury brand. Kanye also said he's working on a signature line of womens footwear set to debut in the fall.

"I grew up with the Louis look, you know," West told the U.K.'s Guardian newspaper at the LV show Friday at the Jardins de Bagatelle. "I just love the style."

The new G-Unit's Terminate on Sight (their first since Beg for Mercy) is expected to finish around 110k in the first week. The album is expected to debut around the 3rd place mark behind Coldplay's Viva La Vida and Lil Wayne's Tha Carter III.

Meanwhile, Koch rapper Jim Jones’ Back 2 Back is headed towards the 20k mark for the first week.

Workers at Jay-Z's 40/40 Club has filed a class action suit over pay disputes. A Manhattan Federal Judge has said servers, bartenders and other employees (past & present) could be eligible for a payout from the suit.

According to the lawsuit, club managers are accused of forcing the workers to pay for breakages, spills, and walkouts (when customers leave without paying) and making the employee work for tips only.

Hundreds of former employees could be eligible for compensation if the workers’ claims are successful at trial, their attorney says.

Young Jeezy is making his film debut in Ice Cube's new comedy "Janky Promoters". Young Jeezy plays a hip hop artist in the film and Ice Cube and Mike Epps plays two shady concert promoters.

Young Jeezy, a.k.a. Jay Jenkins, is working on the release of his third album, "The Recession," due in August via Def Jam.

Lil Wayne will introduce his new champagne called "Halo" this fall. The champagne will come in these 4 variations: Halo Brut, Halo Brut Vintage, Halo Rose, and Halo Pinnacle. “Champagne is for celebrating,” Lil’ Wayne said in a statement regarding his new business venture. “I’m ready to put my foot in a new door. There are so many different business opportunities; I want to take advantage of it all.”

Soulja Boy has signed an endorsement deal with Yum Shoes. The company will produce exclusive sneakers and apparel designed by the rapper's graphic artist Tex.

The sneakers named, "Block Star" will be released in the fall along with Soulja Boy's album.

Soulja Boy's new clothing line will premiere this fall at the Magic trade show.

It seems like everyone is getting a say on Soulja Boy these days, and with the exception of Soulja Boy himself, everyone seems to think he's garbage. (hmm.) The latest to weigh in is none other than Method Man. Method Man appeared on Phoenix radio station Power 98.3's The Nutz in the Morning show to lend his thoughts.

"Ice-T is an OG he don't need to be even addressing nothing like that but he felt the need to address it for the love of Hip Hop and all that and I respect that. But him being the status that he's at he shouldn't be addressing someone like Soulja Boy - nor should Snoop Dogg," he said. "But (Soulja Boy) is out there like that. If he wasn't put out there like he was the truth I don't think anyone would have a problem with him like that. Because lyrically he's not the truth that's no secret."

But don't think he's chastising Ice-T, and taking Soulja Boy's side. He cleared that up quickly.

"Don't get me wrong though...I'm not bigging up Soulja Boy. I think the nigga sucks too! I think he's garbage. I don't think everybody should be blaming him for the state of Hip Hop right now. It's not solely his fault."

Rapper Nas has broken his tradition of sidestepping brand partnerships and inked a one-year partnership with athletic apparel company Fila, Billboard can reveal.

Fila will offer reciprocal financial support for Nas' print and TV ad campaign as well as his upcoming tour in support of his untitled album, due July 15 via Def Jam. In return, the MC will wear Fila products and co-create an apparel line that draws from fashions of the late '80s.

"My best friend Will and I loved Fila," Nas tells Billboard. "It represented prestige and everything that was cool to us. When Will passed, we buried him in a black Fila sweat suit, so doing a deal with them has a lot of significance for me."

According to Fila president John Epstein, it was a natural match. "One of my executives spotted Nas shopping in our Manhattan store and struck up a conversation with him," Epstein says. "Nas isn't interested in selling out. He's interested in being true, and that fits with our brand."

Nostalgia aside, some may view Epstein as brave to co-brand his company with an MC who's pledged to unpack America's racial struggles.

"I had some trepidation, and then I started talking to 16- to 20-year-old kids in focus groups," Epstein says. "They looked at me like I was crazy for not understanding his message of positive change. Nas is relevant to his followers and I don't have to understand it as long as they do."

Ludacris didn't take MTV's recent "Hottest MCs In the Game" list to seriously. He recently told them "I'm top five, dead or alive, and MTV, y'all must be out your muthf---ing mind. That's the statement I'm trying to make." With his new album, Theater Of The Mind hitting stores this fall, Luda is working hard to finish up the album, saying that a single is coming in the next few weeks, "Timing is everything."

Luda says the album is "all of Ludacris' albums put together. So this is album number six. I've had so much material I've talked about, but it's just creativeness on a whole 'nother level. You've got some of the fun-loving, funny Ludacris; you've got some of the serious Ludacris; some of the ill, slit-your-throat Ludacris; some of the highly competitive Ludacris — all wrapped in one."

Luda wont give any details on the album as far as collabs or even production saying "I don't know when it's coming. It's like when you go to the mall to buy some clothes and you don't know what you want until you see it. We'll know when it comes out. I definitely have everything planned, but the man who knows he has everything planned knows he don't have sh-- planned."

Detroit rapper Obie Trice has reportedly severed ties with Eminem's Shady Records.

Obie's manager, Terry Wilson, revealed Monday (June 30) that the break-up between Shady and Obie was amicable and that the rapper is launching his own label called World Wide Hustle,

“Obie and Shady were moving in different directions,” explained Wilson. “But he still has a great relationship with Shady Records. He has some big plans for his World Wide Hustle label.”

Obie dropped a song titled “Giant” yesterday (June 29) which speaks on his departure from Shady Records. Obie implies that Shady’s parent company, Interscope, is the main reason for his departure.