Banking in Crisis: The Rise and Fall of British Banking Stability, 1800 to the Present

Can the lessons of the past help us to prevent another banking collapse in the future? This is the first book to tell the story of the rise and fall of British banking stability in the past two centuries, and it sheds new light on why banking systems crash and the factors underpinning banking stability. John Turner shows that there were only two major banking crises in Britain during this time: the crisis of 1825–6 and the Great Crash of 2007–8. Although there were episodic bouts of instability in the interim, the banking system was crisis-free. Why was the British banking system stable for such a long time and why did the British banking system implode in 2008? In answering these questions, the book explores the long-run evolution of bank regulation, the role of the Bank of England, bank rescues and the need to hold shareholders to account.

Lead-bismuth eutectic corrosion behaviors of ferritic/martensitic steels in low oxygen concentration environment

In order to investigate the compatibility of candidate structural materials with liquid metals, two kinds of ferritic/martensitic steels were chosen to contact with lead–bismuth eutectic in sealed quartz–glass tubes. The corrosion exposures were for 500 and 3000 h. Results showed that the oxidation layer and carbide dissolution layer on the two steels grew with contact time under oxygen unsaturated condition. Short-term corrosion behavior of a newly developed steel showed better lead–bismuth eutectic corrosion resistance than T91 at 873 K.

Oxidation and tensile behavior of ferritic/martensitic steels after exposure to lead-bismuth eutectic

Two ferritic/martensitic steels, T91 steel and newly developed SIMP steel, were subject to tensile test after being oxidized in the liquid lead-bismuth eutectic (LBE) at 873 K for 500 h, 1000 h and 2000 h. Tensile tests were also carried out on the steels only thermally aged at 873 K. The result shows that thermal aging has no effect. Exposure to LBE at 873 K leads to a slight decrease in strength, but a large decrease in elongation when tested at 873 K. When tested at 873 K after 2000 h exposure, the tensile strength of T91 decreases slightly, and elongation from 39% to 21%. For SIMP, the decreases are slightly and from 44% to 28%, for tensile strength and elongation, respectively. The room temperature strength has slightly larger percentage reductions after the LBE exposure, but the elongation changes little.

Monitoring of Corrosion in Structural Reinforcing Bars: performance comparison using in-situ fibre optic and electric wire strain gauge systems

Abstract This work addresses the problems of effective in situ measurement of the initiation or the rate of steel corrosion in reinforced concrete structures through the use of optical fiber sensor systems. By undertaking a series of tests over prolonged periods, coupled with acceleration of corrosion, the performance of fiber Bragg grating-based sensor systems attached to high-tensile steel reinforcement bars (ldquorebarsrdquo), and cast into concrete blocks was determined, and the results compared with those from conventional strain gauges where appropriate. The results show the benefits in the use of optical fiber networks under these circumstances and their ability to deliver data when conventional sensors failed.

The RMT method for many-electron atomic systems in intense short-pulse laser light

We describe a new ab initio method for solving the time-dependent Schrödinger equation for multi-electron atomic systems exposed to intense short-pulse laser light. We call the method the R-matrix with time-dependence (RMT) method. Our starting point is a finite-difference numerical integrator (HELIUM), which has proved successful at describing few-electron atoms and atomic ions in strong laser fields with high accuracy. By exploiting the R-matrix division-of-space concept, we bring together a numerical method most appropriate to the multi-electron finite inner region (R-matrix basis set) and a different numerical method most appropriate to the one-electron outer region (finite difference). In order to exploit massively parallel supercomputers efficiently, we time-propagate the wavefunction in both regions by employing Arnoldi methods, originally developed for HELIUM.

Light and electron microscopy of microstructure and fractography of an ultrahigh-strength martensitic steel

Microstructure, tensile properties and fractography have been examined in the oil-quenched samples of a low-alloy ultrahigh strength 4340 steel. Intergranular fracture was revealed to locate at the fracture origin. However, neither the quenched Charpy V-notched impact samples nor the tempered tensile samples showed such intergranular fracture behavior. The effects of loading rate and precipitation are discussed.

A SuperWASP search for additional transiting planets in 24 known systems

We present results from a search for additional transiting planets in 24 systems already known to contain a transiting planet. We model the transits due to the known planet in each system and subtract these models from light curves obtained with the SuperWASP (Wide Angle Search for Planets) survey instruments. These residual light curves are then searched for evidence of additional periodic transit events. Although we do not find any evidence for additional planets in any of the planetary systems studied, we are able to characterize our ability to find such planets by means of Monte Carlo simulations. Artificially generated transit signals corresponding to planets with a range of sizes and orbital periods were injected into the SuperWASP photometry and the resulting light curves searched for planets. As a result, the detection efficiency as a function of both the radius and orbital period of any second planet is calculated. We determine that there is a good (>50 per cent) chance of detecting additional, Saturn-sized planets in P ~ 10 d orbits around planet-hosting stars that have several seasons of SuperWASP photometry. Additionally, we confirm previous evidence of the rotational stellar variability of WASP-10, and refine the period of rotation. We find that the period of the rotation is 11.91 +/- 0.05 d, and the false alarm probability for this period is extremely low (~10-13).

Doppler cooling of gallium atoms: 2. Simulation in complex multilevel systems

This paper derives a general procedure for the numerical solution of the Lindblad equations that govern the coherences arising from multicoloured light interacting with a multilevel system. A systematic approach to finding the conservative and dissipative terms is derived and applied to the laser cooling of p-block elements. An improved numerical method is developed to solve the time-dependent master equation and results are presented for transient cooling processes. The method is significantly more robust, efficient and accurate than the standard method and can be applied to a broad range of atomic and molecular systems. Radiation pressure forces and the formation of dynamic dark states are studied in the gallium isotope 66Ga.

Entanglement detection in hybrid optomechanical systems

We study a device formed by a Bose-Einstein condensate (BEC) coupled to the field of a cavity with a moving end mirror and find a working point such that the mirror-light entanglement is reproduced by the BEC-light quantum correlations. This provides an experimentally viable tool for inferring mirror-light entanglement with only a limited set of assumptions. We prove the existence of tripartite entanglement in the hybrid device, persisting up to temperatures of a few milli-Kelvin, and discuss a scheme to detect it.

Sensory systems and spatial memory in the fruit bat Rousettus aegyptiacus

The megachiropteran fruit bat Rousettus aegyptiacus is able to orient and navigate using both vision and echolocation. These two sensory systems have different environmental constraints however, echolocation being relatively short range when compared with vision. Despite this difference, an experiment testing their memory of a perch location demonstrates that once the location of a perch is learned R. aegyptiacus is not influenced by the movement of local landmark cues in the vicinity of the perch under either light or dark conditions. Thus despite the differing constraints of vision and echolocation, this suggests a place is remembered as a location in space and not by associations with landmarks in the vicinity. A decrease in initial performance when the task was repeated in the dark suggested the possibility that a memory of a location learned using vision does not generalize to echolocation.

Platinum and Palladium in Semiconductor Photocatalytic Systems FACTORS AFFECTING THE PURIFICATION OF WATER AND AIR

A wide range of organic pollutants can be destroyed by semiconductor photocatalysis using titania. The purification of water and air contaminated with organic pollutants has been investigated by semiconductor photocatalysis for many years and in attempts to improve the purification rate platinum and palladium have been deposited, usually as fine particles, on the titania surface. Such deposits are expected to improve the rate of reduction of oxygen and so reduce the probability of electron-hole recombination and increase the overall rate of the reaction. The effectiveness of the deposits is reviewed here and appears very variable with reported rate enhancement factors ranging from 8 to 0.1. Semiconductor photocatalysis can be used to purify air (at temperatures > 100 degrees C) and Pt deposits can markedly improve the overall rate of mineralisation. However, volatile organic compounds containing an heteroatom can deactivate the photocatalyst completely and irreversibly. Factors contributing to the success of the processes are considered. The use of chloro-Pt(IV)-titania and other chloro-platinum group metals-titania complexes as possible visible light sensitisers for water and air purification is briefly reviewed.

Design optimization of cold-formed steel portal frames taking into account the effect of building topology

Cold-formed steel portal frames are a popular form of construction for low-rise commercial, light industrial and agricultural buildings with spans of up to 20 m. In this article, a real-coded genetic algorithm is described that is used to minimize the cost of the main frame of such buildings. The key decision variables considered in this proposed algorithm consist of both the spacing and pitch of the frame as continuous variables, as well as the discrete section sizes.A routine taking the structural analysis and frame design for cold-formed steel sections is embedded into a genetic algorithm. The results show that the real-coded genetic algorithm handles effectively the mixture of design variables, with high robustness and consistency in achieving the optimum solution. All wind load combinations according to Australian code are considered in this research. Results for frames with knee braces are also included, for which the optimization achieved even larger savings in cost.