Icetruck

By Mark Kleinman, City Editor

KPMG is facing a battle to remain as auditor to the Bank of England‎ as rivals plot to end its decade-long tenure in the prestigious role.

Sky News has learnt that officials from Britain's central bank contacted other accountancy firms in recent days to signal a contest that will threaten KPMG's hold on a position it has held since just before the run on Northern Rock in 2007.

The review has been triggered by rules dictating that the Bank should put its audit work out to tender every five years, according to insiders.

A source said the tender was issued on Monday using the Crown Commercial Service Framework, a Government-recommended process.

KPMG's audit work for the Old Lady of Threadneedle Street spans the decade of the banking crisis and its aftermath, a period which has seen the Bank take on significant new powers to regulate the UK's financial system and parts of the City.

The 'big four' firm‎ replaced PricewaterhouseCoopers (PwC), which had audited the Bank's accounts for more than 85 years.

KPMG has been invited to re-tender for the Bank's audit business and intends to do so, according to one source.

The status of the central bank's audit mandate means that the work is almost certain to be awarded to one of the quartet of firms which dominate the audit world, insiders believe.

Although the review is said to be statutory, it comes at a time when KPMG and some of its rivals, as well as their main regulator, face difficult questions about the quality of their audit work.

An investigation into KPMG's work as the auditor to HBOS‎ prior to its collapse into the arms of Lloyds TSB was closed in September by the Financial Reporting Council (FRC), which said there was no realistic prospect of an adverse finding against the accountancy firm.

The FRC has promised to publish a report setting out the reasons for its findings, which it is expected to do in the coming weeks.

KPMG has also endured a torrid few weeks in relation to its work in South Africa with the controversial Gupta family, which is alleged to have had improper financial links with President Jacob Zuma.

A ballooning scandal there prompted the collapse of Bell Pottinger, the public relations firm, and has since widened to pose awkward challenges for McKinsey, the consulting firm, and HSBC.

The other major auditors – Deloitte, EY and PwC‎ – have all faced other FRC inquiries in recent years, with PwC's work particularly in the spotlight in relation to audits at Barclays, BhS and Tesco.

Critics of the big auditors‎ are likely to press for the work to be handed by a firm which has not been tainted by adverse regulatory findings.

Andrew Tyrie, the former chair of the Treasury Select Committee, approached the big four firms after stepping down as an MP this year, proposing that they back a new body aimed at improving standards in the profession.

‎The Bank of England's audit work is not lucrative by comparison with the fees generated for auditors of FTSE-100 companies.

Its annual report published this year shows that KPMG earned £262,000 for auditing the central bank in the 12 months to 28 February.

In addition, it was paid £327,000 for other services during the year.

Sources said that the new mandate was expected to be awarded from the next financial year, beginning in March 2018, with other accountancy firms required to make themselves 'clean' by terminating or handing over conflicting non-audit work ‎during the intervening period.

If it adheres to that timetable, it would mean a new auditor – or KPMG, if it retains the work – taking over just over a year before Mark Carney is due to step down as the Bank of England Governor.

The short timetable explains why talks with KPMG's competitors are due to get underway imminently.

The Bank of England has itself been at the centre of a number of investigations relating to the financial crisis.

In June, the Serious Fraud Office said it was closing a probe into the Bank's conduct when holding money market auctions for British lenders.

The Bank of England declined to comment, while KPMG could not be reached for comment.

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Source – News.sky.com

Thousands protest German coal use ahead of climate meeting

Thousands of demonstrators have marched through Bonn to protest the use of fossil fuels ahead of a global climate conference being held in the western German city next week.

Participants in Saturday's event carried banners with slogans that included "Revolution Not Pollution," ''Frack Off Our Land" and "Trump: Climate Genocide."

Protest organizers say some 25,000 people took part in the demonstration. Police had no official estimates, but said the size of the crowd was "clearly more" than the 10,000 expected.

Many protesters criticized the German government's reliance on coal-fired power plants for much of the country's energy even as it pursues ambitious targets for renewable sources.

Protester Holger Heinrich said: "Germany finally has to contribute, and not only talk."

The 2017 United Nations Climate Conference known as COP23 begins on Monday.

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Source – abcnews.go.com

Selena's star on Hollywood Walk of Fame unveiled

Twenty-two years after her untimely death, Selena finally got her star on the Hollywood Walk of Fame Friday evening.

As nearly 4,500 fans looked on — several wearing costumes resembling the Queen of Tejano music — the late singer's star was unveiled just down the street from Capitol Records. It's where the singer once signed her music recording contract.

Selena, whose birth name was Selena Quintanilla, was murdered in 1995 by the president of her fan club. She was only 23.

Mario Anzuoni/Reuters

20 years after premiere of 'Selena,' the singer's family reflects on her death

The unveil of #selenaquintanilla’s star on The Walk of Fame! #Selena #selenaquintanilla pic.twitter.com/yCRKsrlkz5

— Casimiro A (@CashYLosDinos) November 4, 2017

The singer's husband, Chris Perez, along with her family, attended the highly-anticipated ceremony along with actress Eva Longoria. And Los Angeles Mayor Eric Garcetti was on hand to announce that Nov. 3 is now officially known in the city as "Selena Day."

"I promised myself I wasn't going to cry," Longoria told the crowd. "This star isn’t just for Selena but for all Latinas."

We’ve been dreaming of this day for a while. The one and only Reina de la música Tex-Mex, Selena, has a star on the Hollywood Walk of Fame! pic.twitter.com/cq6UouOVeZ

— Mayor Eric Garcetti (@MayorOfLA) November 4, 2017

The late singer now joins 89 Latino artists such as Jennifer Lopez and Celia Cruz who have a star on the Hollywood Walk of Fame, according to the Hollywood Chamber of Commerce.

"Selena said the goal isn't to live forever but to create something that will," her sister, Suzette Quintanilla, said. "And I think tonight is a perfect testament of that."

Tara Ziemba/AFP/Getty Images

The singer's star comes amid her pop culture resurgence.

Not only is there a MAC Cosmetics line inspired by her bold lipstick choices, but Urban Outfitters and Target have even carried T-shirt lines featuring Selena. Also, celebrities such as Kim Kardashian West and Demi Lovato dressed up as Selena for Halloween this year.

Selena was best known for her hit Spanish-language songs such as “Como la Flor” and “Bidi Bidi Bom Bom.” Her English-language crossover hit, "Dreaming Of You," was released posthumously and reached No. 22 on the Billboard 100.

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Sam Smith's 'The Thrill of It All' shows he may be Adele's male counterpart

WATCH 'Real Live': Sam Smith releases exclusive music video on Spotify

Sam Smith’s “The Thrill of It All”
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Sam Smith follows up his 2014 debut, “In the Lonely Hour,” with his sophomore effort, “The Thrill of it All.” Much like its predecessor, this album finds its core in soft ballads. Smith’s emotive voice can be a real asset, somewhat flexibly conveying feeling.

The hit “Too Good at Goodbyes” and the second track “Say it First” seem to indicate that Smith is setting out to be a male counterpart to Adele. His voice is dynamic in the way it bends. While his singing is not as boomingly confident as Adele’s, his voice is able to zig and zag, even as it maneuvers into an occasionally whisper-y falsetto.

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In addition to aiming for Adele’s turf, Smith is going for a classic R&B and gospel vibe. That can be heard on both “One Last Song” and “Midnight Train,” the latter of which sounds like a soulful answer to Radiohead’s “Creep.”

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Smith gets more righteous on “HIM” and gets softly groovy on “Baby, You Make Me Crazy.” Sometimes Smith’s higher register can be a tad grating. However, he can somehow slightly irritate and entertain simultaneously. He duets successfully with up-and-coming singer Yebba on “No Peace,” and hits a sweet spot with the slow-burning “Palace.”

This record feels more lived-in and fully realized than his debut. Each of the songs on its own is decent, but you get the feeling once you finish with the closer (and second single) “Pray,” that Smith is taking the easy route. He should stretch beyond the ballads, as he's capable of more. This feels like a sequel to his first record almost in a retreading kind of way.

“The Thrill of it All,” while a fitting showcase for Smith’s skill, lacks an extra spark. It’s good, but it could be better.

Focus Tracks:

“Too Good at Goodbyes” Smith’s songs often seem at first a tad innocuous but on repeat listens they begin to pack power. This one is a real winner.

“Midnight Train” Radiohead comparisons aside, this song has some real momentum, showcasing Smith at his most vocally butter-soaked. The doo-wop style backing vocals are also a nice touch.

“Baby You Make Me Crazy” This has some potent swagger. This song’s little boost makes you wonder what Smith would do if he was pushed a notch or two further.

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Kim Kardashian West apologizes for Aaliyah Halloween costume: 'We don't see color in my home'

Kim Kardashian West is apologizing after offending some fans by dressing up as the late singer, Aaliyah, for Halloween.

The reality star, who dressed like the R&B singer from her 2001 "Try Again" music video, took to her website to explain why she chose Aaliyah for one of her many Halloween costumes, and her intentions behind the costume.

"Aaliyah was such an amazing singer and she will forever be a music legend," Kardashian West, 37, wrote. "I saw online that some people thought my costume was in poor taste and I am truly sorry if that offended anyone."

"When I was creating the costume, I wasn't dressing up as a race or culture but rather as a woman whom I will always admire," she added.

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Baby Girl Aaliyah pic.twitter.com/5GUHkNJgNi

— Kim Kardashian West (@KimKardashian) October 29, 2017

"I play every kind of genre of music in my home and I like for my kids to be exposed to many different artists," Kardashian West continued. "For me, it's always about love and respect."

Aaliyah, who died in a plane crash in 2001, wasn't the only celebrity the reality star paid homage to this year. She also dressed up as Cher and Selena. And last Saturday, photographers caught Kardashian West resembling Madonna while her sister, Kourtney Kardashian, dressed up as Michael Jackson.

Kardashian West added, "I loved that Kourtney was Michael Jackson for one of her costumes, and that my son was Axl Rose. We don't see color in my home. We were paying homage to people and artists we love and respect — it's that simple!"

“”We don't see color in my home. We were paying homage to people and artists we love and respect — it's that simple

The "Keeping Up With the Kardashians" star is expecting her third child with husband, rapper Kanye West. The two, who wed in 2014, are already parents to 4-year-old daughter North West and 1-year-old son Saint West.

Earlier this week, Kardashian West detailed how she celebrated Halloween this year.

"We all go to Kourtney's and spend Halloween there," she told guest host Jennifer Lawrence on Jimmy Kimmel Live. "Halloween is always so fun."

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Climate change: 5 things to know about Bonn climate summit

Climate change is back on the agenda with a global climate conference kicking off Monday in the German city of Bonn.

Who's coming, what are the key debates about and how green will this meeting be? Five things to know about the U.N. conference known as COP23, which runs from Nov. 6-17.

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WHO IS COMING TO BONN?

Up to 25,000 people are expected to attend the talks, which will be presided over by Prime Minister Frank Bainimarama of Fiji — the first time that a small island nation will be at the helm of a major international climate conference. Participants will include diplomats from 195 nations, as well as scientists, lobbyists and environmentalists.

The United States, which has announced its intention to pull out of the landmark Paris climate accord, will be represented by Undersecretary of State for Political Affairs Thomas Shannon.

Key countries to watch during the talks are the emerging economic powers China and India. Other nations — Estonia, Peru, Ecuador, Iran, Mali, Ethiopia and the Maldives — will also be in the spotlight for leading major international groupings.

French President Emmanuel Macron, German Chancellor Angela Merkel and other leaders are expected to fly to Bonn toward the end of the summit to give the talks a final push and signal their commitment to fighting climate change.

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WHAT ARE THE BIG CLIMATE CHANGE TOPICS NOW?

The 2015 Paris accord set a target of limiting global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) — or 2 degrees at the most — by the end of the century.

But diplomats didn't agree on the details of how their nations will reach that ambitious goal. The Bonn talks will flesh out the rule book that countries have to abide by.

This includes coming up with international standards for how to measure carbon emissions, to make sure that one nation's efforts can be compare to another's. A second debate centers around how countries take stock of what's been achieved and set new, more ambitious goals for curbing carbon emissions after 2020.

The third big issue concerns money. Experts agree that shifting economies away from fossil fuels and preparing countries for some of the inevitable consequences of climate change will require vast financial resources — including some from the U.S. administration of President Donald Trump, which is doubtful about man-made climate change.

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WHY BONN?

Organizing a massive global conference in Fiji would have strained the Pacific nation's resources and posed a travel nightmare for thousands of delegates. Germany offered to host the talks in Bonn, the country's former capital, because it has ample conference space and is already home to the U.N. climate change agency.

Still, they are going to miss the sunshine of Fiji. The weather in Bonn is generally dreary at best in November.

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HOW GREEN WILL THE CONFERENCE BE?

Germany says the two-week talks will as environmentally friendly as possible. The country is setting aside part of the 117 million euro ($136.3 million) budget for a fleet of bicycles and electric buses to ferry people between venues.

Each participant will receive a bottle to fill with tap water — a move organizers say will save half a million plastic cups.

Germany's environment ministry is also investing in renewable energy projects to compensate for the greenhouse gas emissions caused by people from all over the world flying into Bonn for the talks.

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AND WHAT ABOUT GERMANY'S COAL USAGE?

Germany likes to portray itself as a leader in the fight against global warming and Merkel's reputation as the "climate chancellor" is partly built on the pivotal role she played during past negotiations.

But environmentalists note that Germany still gets about 40 percent of its electricity from coal-fired plants — one of the most carbon intensive sources of energy. And German highways are also virtually unique in having no general speed limit, despite the fact that auto emissions rise dramatically at higher speeds.

If prosperous Germany fails to meet its own emissions targets, as current predictions suggest, critics say that would send a bad signal to the rest of the world.

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Source – abcnews.go.com

Outcry as Afghanistan moves to ban WhatsApp and Telegram

Journalists, media groups and users of social media in Afghanistan have accused the government of censorship after it moved to block the WhatsApp and Telegram messaging services.

The editor of one of the country's biggest newspapers said the move was a retrograde step and would be resisted.

The move may have been initiated to stop the Taliban and other insurgent groups from using encrypted messaging.

But as yet there is little evidence of the temporary ban being enforced.

Earlier this week, officials at the body which regulates telecommunications confirmed that they'd written to service providers to ask for a temporary, 20-day ban, citing security reasons.

Acting Telecommunications Minister Shahzad Aryobee also posted a message on Facebook saying that the regulator had been ordered to put a gradual block on messaging services to solve technical problems, after numerous complaints had been received.

"The government is committed to freedom of speech and knows that it is a basic civil right for our people," he wrote.

'We can't tolerate any ban'

The expansion of mobile phone services stands out as one of the positive developments in Afghanistan since the US-led invasion of the country in 2001 – even though there are frequent complaints from users about audibility and signal strengths.

Services including WhatsApp, Facebook Messenger and Viber are widely used by the Afghan public and their politicians – but also by the Taliban, who are known to operate their own complex messaging and social media operations.

However some Afghan social media users and civil rights groups have criticised the move which they say is unenforceable because it can easily be by-passed using virtual private networks (VPNs).

Prominent newspaper editor Parwiz Kawa told the BBC that Afghanistan was finally an open society after years of censorship and any ban on social media would not be tolerated.

"The public reaction – including our own front page – is to resist," he said. "We can't tolerate any ban on social media or any censorship."

"If the Taliban or others are using these services, find out who is using them, don't ban them – that's very sensitive at this stage of Afghanistan's development," he said.

Source – bbc.com

German, Turkish diplomats meet to discuss 'difficult issues'

The foreign ministers of Germany and Turkey have held informal talks as the two countries try and repair their strained relations.

German Foreign Minister Sigmar Gabriel and Turkish Foreign Minister Mevlut Cavusoglu tweeted Saturday they met in Turkey "informally to discuss bilateral relations, including the difficult issues and mutual expectations."

Multiple issues have caused friction between the two countries in recent months, including the jailing of several Germans on terrorism-related charges in Turkey following a 2016 coup attempt. Germany has protested the arrests.

A human rights activist was allowed to return to Germany, but others remain jailed.

Turkey has accused Germany of harboring members of an outlawed Kurdish group. It also criticized Germany's refusal to allow Turkish politicians to appear at rallies before a referendum on the Turkish president's powers.

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Source – abcnews.go.com

South Sudan's capital tense as troops surround Malong's home

Tensions were high in South Sudan's capital on Saturday after President Salva Kiir sent troops to surround the home of former military chief of staff Paul Malong, disarm his bodyguards and remove all weapons.

A copy of the order obtained by The Associated Press says any resistance by Malong "should be met with reasonable force."

Malong's wife, Lucy Ayak Malek, told the AP that bodyguards refused to hand over arms and the situation had worsened, with hundreds of soldiers deployed. "I think things will escalate if the president doesn't act quickly," she said by telephone.

The United Nations issued an emergency notification advising staff in the capital, Juba, to remain vigilant.

It was not immediately clear what led to the president's order, which also prevents any visitors to Malong's home. Acting army spokesman Col. Santo Domic Chol said whatever was taking place was "political."

Malong, who has been under house arrest, was fired in May and had been one of Kiir's closest allies. He was accused of directing last year's fighting in Juba that killed hundreds. A former governor of Northern Bahr el Ghazal, he also has been accused of controlling an ethnic militia that numbers in the thousands.

In February, a handful of top-level military officials resigned while accusing Kiir and Malong of ethnic bias and corruption. Shortly after his firing, Malong told the AP that he would not take up arms against the government of the East African nation, saying "we don't fight a meaningless war."

The United States in September imposed sanctions on Malong, along with two senior South Sudan officials, for undermining the country's peace, security and stability. South Sudan's civil war erupted in late 2013 and has killed tens of thousands of people and sent more than 2 million fleeing the country, creating the largest displacement of civilians in Africa since the Rwanda genocide in 1994.

Many of Malong's supporters have been advocating for his release from house arrest. Concerns have grown that the supporters will take up arms.

South Sudan's government said it was trying to "give Malong proper protection" since he can't protect himself.

"We want to ensure that criminals from the outside don't run to his house for protection and find his weapons," said the minister of cabinet affairs, Martin Elia Lomoro.

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Source – abcnews.go.com

Machel: Global malnutrition is a 'hidden pandemic'

Former U.N. Secretary-General Kofi Annan and Mozambican humanitarian Graca Machel are addressing a summit on the crisis of malnutrition, which is an underlying cause for half of the child deaths worldwide.

Organizers on Saturday announced $640 million in new commitments to tackle global malnutrition, bringing pledges over the next decade to $3.4 billion. That still falls far short of the $3.7 billion a year the World Bank says is needed to make progress on issues like stunted growth or anemia in women.

Machel, the widow of Nelson Mandela, says one of the challenges in the campaign is that malnutrition "is a hidden pandemic. It is not visible in daily life."

Some 155 million children globally suffer stunted growth due to malnutrition, which hurts their physical and cognitive development.

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Source – abcnews.go.com