Geological and trace element evidence for a marine sedimentary environment of deposition and biogenicity of 3.45 Ga stromatolitic carbonates in the Pilbara Craton, and support for a reducing Archaean ocean

Bedded carbonate rocks from the 3.45 Ga Warrawoona Group, Pilbara Craton, contain structures that have been regarded either as the oldest known stromatolites or as abiotic hydrothermal deposits. We present new field and petrological observations and high-precision REE + Y data from the carbonates in order to test the origin of the deposits. Trace element geochemistry from a number of laminated stromatolitic dolomite samples of the c. 3.40 Ga Strelley Pool Chert conclusively shows that they precipitated from anoxic seawater, probably in a very shallow environment consistent with previous sedimentological observations. Edge-wise conglomerates in troughs between stromatolites and widespread cross-stratification provide additional evidence of stromatolite construction, at least partly, from layers of particulate sediment, rather than solely from rigid crusts. Accumulation of particulate sediment on steep stromatolite sides in a high-energy environment suggests organic binding of the surface. Relative and absolute REE + Y contents are exactly comparable with Late Archaean microbial carbonates of widely agreed biological origin. Ankerite from a unit of bedded ankerite–chert couplets from near the top of the stratigraphically older (3.49 Ga) Dresser Formation, which immediately underlies wrinkly stromatolites with small, broad, low-amplitude domes, also precipitated from anoxic seawater. The REE + Y data of carbonates from the Strelley Pool Chert and Dresser Formation contrast strongly with those from siderite layers in a jasper–siderite–Fe-chlorite banded iron-formation from the base of the Panorama Formation (3.45 Ga), which is clearly hydrothermal in origin. The geochemical results, together with sedimentological data, strongly support: (1) deposition of Dresser Formation and Strelley Pool Chert carbonates from Archaean seawater, in part as particulate carbonate sediment; (2) biogenicity of the stromatolitic carbonates; (3) a reducing Archaean atmosphere; (4) ongoing extensive terrestrial erosion prior to ∼3.45 Ga.

Early-Middle Jurassic stratigraphy of the Fortrose-Chaslands region, southernmost South Island, New Zealand

The 40 km of coastline from Fortrose to Chaslands Mistake (southeastern South Island, New Zealand) comprises sediments that are part of the Early-Middle Jurassic of the Murihiku Terrane. The sediments are dominantly fluvial with some marine beds and alluvial fan deposition, and display an evolution of fluvial style which progresses from perennial flow to seasonal flow. The McPhee Cove Conglomerate is a prominent unit to the north. It has been used to separate two formations which would otherwise, on inherent lithological grounds, be difficult to distinguish. This paper discusses several similar conglomerates which occur in the south, but which are separated from the type area of the McPhee Conglomerate by major tectonic disruption. Hence, the existing lithostratigraphic nomenclature to the north, including the McPhee Cove Conglomerate, cannot be simply extended southwards. The Fortrose-Chaslands area appears to consist of two tectonic blocks, the Slope Point Block and the Brothers Block, which are separated from each other and from the adjacent Papatowai Block by major strike faults (or fault zones). A change is proposed to the existing stratigraphy which involves recognising all terrestrial sediments as part of the False Island Formation. Four prominent clast-supported conglomerate horizons are named as members of the False Islet Formation: the White Head Conglomerate, Black Bluff Conglomerate. Hoiho Conglomerate, and Slope Point Conglomerate Members. The latter contains five named conglomerate beds.

Corporate governance options for the local subsidiaries of multinational enterprises

While the corporate governance literature generally focuses on the parent legal entity, many organisations are now multinational enterprises (MNEs) with subsidiaries that are most often legal entities in their host countries. Despite the strengthening of corporate governance regimes internationally, the boards of these subsidiaries are in many instances perfunctory. This paper examines the question of whether developments in corporate governance theory and practice can add value for the local subsidiaries of MNEs. This paper provides a theoretical basis for evaluating governance models in MNEs. The paper commences with a review of the key concepts from the MNE and conglomerates literature with respect to core MNE strategies. The paper then discusses what the "governance roles" are that must be performed in MNE subsidiaries. We propose four governance frameworks for subsidiary corporations. These frameworks are: (1) Direct Control; (2) Dual Reporting; (3) Advisory Board; (4) Local Board. We consider the strengths and weaknesses of each model in relation to international strategy theory. We conclude with recommendations for the conditions under which the various models may be appropriate and practical guidelines for the utilisation of corporate governance theory to improve MNE performance.

Brand loyalties: rethinking content within global corporate media

Translating content from one media platform to another, a process here dubbed content streaming, is the leitmotif of contemporary globalized media. Yet widely divergent interpretations of the phenomenon have emerged. Academic political economy interprets content streaming as powerfully inimical to cultural diversity, media competition and freedom of speech. Mainstream business reporting, working from an opposing media economics schema, pillories ‘synergy’-based content strategies as oversold in theory and unworkable in practice. Challenging this established trend for the disciplines to develop in parallel, the article harnesses mainstream critique of content streaming to political economy’s traditionally circumspect view of corporate media. Examining first the commercial rationales for pursuing content streaming, before turning to the financial and managerial constraints on realizing these goals, the article positions content streaming as less all-pervasive than political economists have feared, but more commercially entrenched than the financial press currently allows.