The United States dominates global investment banking: does it matter for Europe? Bruegel Policy Contribution 2016/06, March 2016

In the aftermath of the global financial crisis, the market share of US investment banks is increasing, while that of their European counterparts is declining. We present evidence that US investment banks are on the verge of taking over pole position in European investment banking. Meanwhile, since 2015, Chinese investment banks have overtaken American and European investment banks in the Asia-Pacific market. Credit rating agencies and investment banks are the gatekeepers of the capital markets. The European supervisory institutions can effectively supervise the European operations of these US-managed players. On the political side, we suggest that the European Commission should continue to view its, albeit declining, banking industry as a strategic sector. The Commission, the European Central Bank and the Bank of England should jointly develop a strategic agenda for the EU-US Regulatory Dialogue. Finally, corporates rely on investment banks to issue new securities. We recommend that the big European corporates should cherish the (few) remaining European investment banks, by giving them at least one place in otherwise US- dominated banking syndicates. That could help to avoid complete dependence on US investment banks.

Cautious and rotational – US military engagement on NATO’s eastern flank. OSW Commentary NUMBER 216 | 05.07.2016

The Russian annexation of Crimea in 2014 put a stop to the gradual scaling down of US military engagement in Europe, a policy that the United States had pursued since the end of the Cold War. The Russian-Ukrainian conflict became a watershed for the US perceptions of European security as Washington started to see the threat of a conflict between Russia and a NATO member as more probable. The United States decided that – despite the mounting challenges in the Pacific region and its involvement in conflicts in the Middle East – it had to invest more in European security. The US has stepped up the intensity of joint drills with the allies and the activities of its forces in Europe. However, its support for the allies has been subject to various limitations and should be treated as a political signal to Moscow, rather than an element in a broader strategy. The future of the policy of strengthening the eastern flank will depend on the outcome of the US presidential elections in November and on developments in the bilateral relations between Washington and Moscow.

Age model of sediment core V20-120 (Table 2)

Time series analyses of atmospheric and oceanic variables in a late Pleistocene record from the northwest Pacific show the complex relationship of the response of various segments of the climate system to changes in the earth's orbit. Most variance spectra of time series from this subarctic record contain frequency peaks with periods corresponding to at least one of the major orbital components of eccentricity, obliquity, or precession. Although the radiolarian faunal (water mass) assemblages have prominent spectral peaks with 41,000-year periods which are coherent with obliquity at this frequency, only the Transitional faunal assemblage contains variance focused at a frequency corresponding to the 100,000-year period of eccentricity. Three of these faunal time series also show variance concentrated at a frequency with a 20,000-year period. These three time series are not coherent at a 20,000-year frequency with either of the dominant spectral peaks of precession. They are coherent, however, with variations in the second harmonic of the obliquity cycle. Changes in obliquity apparently affect siliceous faunal abundances in the northwest Pacific region of this high-latitude site more than variations in eccentricity or precession. Maxima in the time series of quartz abundance occur during low values of eccentricity and high glacial ice volume. Because atmospheric winds serve as the major source of supply of quartz to the sediments at this site, these high quartz values reflect increased aridity at the source region. Except for short periods during interglacials, the characteristics of the surface waters in this region of the subarctic Pacific during much of the last 460,000 years were similar to those which exist today in the Sea of Okhotsk. The spectrum of winter sea surface temperature estimates, derived from siliceous microfaunal abundances, contains dominant frequency peaks at periods of 100,000, 41,000, and 23,000 years which are coherent with eccentricity, obliquity, and precession, respectively. Based upon the relationship of the Subarctic Front with the dominance of specific faunal asemblages, the front was positioned south of its present-day location throughout much of the late Pleistocene.

Diatom biostratigraphy of sediments from ODP Leg 170 sites

The following data paper summarizes diatom biostratigraphic data from sediments drilled in the Costa Rica accretionary wedge during Ocean Drilling Program Leg 170. Quaternary through lower Miocene diatom zones characteristic of the equatorial Pacific region are recognized in the reference section, Site 1039, which was drilled on the downgoing Cocos plate. At Sites 1040-1043, where the recovered silty clay units are primarily wedge and apron sediments that overlie the underthrust sections, diatoms are generally low in abundance, and complete zonation of the cores was not possible above the décollement surface.

Lithology and approximate sub-bottom depths and ages of the transition of soft to firm ooze and of firm ooze to chalk at DSDP Leg 89 and 90 Sites

Leg 90 recovered approximately 3705 m of core at eight sites lying at middle bathyal depths (1000-2200 m) (Sites 587 to 594) in a traverse from subtropical to subantarctic latitudes in the southwest Pacific region, chiefly on Lord Howe Rise in the Tasman Sea. This chapter summarizes some preliminary lithostratigraphic results of the leg and includes data from Site 586, drilled during DSDP Leg 89 on the Ontong-Java Plateau that forms the northern equatorial point of the latitudinal traverse. The lithofacies consist almost exclusively of continuous sections of very pure (>95% CaCO3) pelagic calcareous sediment, typically foraminifer-bearing nannofossil ooze (or chalk) and nannofossil ooze (or chalk), which is mainly of Neogene age but extends back into the Eocene at Sites 588, 592, and 593. Only at Site 594 off southeastern New Zealand is there local development of hemipelagic sediments and several late Neogene unconformities. Increased contents of foraminifers in Leg 90 sediments, notably in the Quaternary interval, correspond to periods of enhanced winnowing by bottom currents. Significant changes in the rates of sediment accumulation and in the character and intensity of sediment bioturbation within and between sites probably reflect changes in calcareous biogenic productivity as a result of fundamental paleoceanographic events in the region during the Neogene. Burial lithification is expressed by a decrease in sediment porosity from about 70 to 45% with depth. Concomitantly, microfossil preservation slowly deteriorates as a result of selective dissolution or recrystallization of some skeletons and the progressive appearance of secondary calcite overgrowths, first about discoasters and sphenoliths, and ultimately on portions of coccoliths. The ooze/chalk transition occurs at about 270 m sub-bottom depth at each of the northern sites (Sites 586 to 592) but is delayed until about twice this depth at the two southern sites (Sites 593 and 594). A possible explanation for this difference between geographic areas is the paucity of discoasters and sphenoliths at the southern sites; these nannofossil elements provide ideal nucleation sites for calcite overgrowths. Toward the bottom of some holes, dissolution seams and flasers appear in recrystallized chalks. The very minor terrigenous fraction of the sediment consists of silt- through clay-sized quartz, feldspar, mica, and clay minerals (smectite, illite, kaolinite, and chlorite), supplied as eolian dust from the Australian continent and by wind and ocean currents from erosion on South Island, New Zealand. Changes in the mass accumulation rates of terrigenous sediment and in clay mineral assemblages through time are related to various external controls, such as the continued northward drift of the Indo-Australian Plate, the development of Antarctic ice sheets, the increased desertification of the Australian continent after 14 m.y. ago, and the progressive increase in tectonic relief of New Zealand through the late Cenozoic. Disseminated glass shards and (altered) tephra layers occur in Leg 90 cores. They were derived from major silicic eruptions in North Island, New Zealand, and from basic to intermediate explosive volcanism along the Melanesian island chains. The tephrostratigraphic record suggests episodes of increased volcanicity in the southwest Pacific centered near 17, 13, 10, 5 and 1 m.y. ago, especially in the middle and early late Miocene. In addition, submarine basaltic volcanism was widespread in the southeast Tasman Sea around the Eocene/Oligocene boundary, possibly related to the propagation of the Southeast Indian Ridge through western New Zealand as a continental rift system.

(Table T1) Depths and ages of datum levels at ODP Leg 182 sites

The first and last appearances of Quaternary planktonic foraminifers in the Great Australian Bight were evaluated using datum levels from magnetostatigraphy, oxygen isotope stratigraphy, and calcareous nannofossil biostratigraphy to determine whether they were synchronous or diachronous with open-ocean biostratigraphic events. The first appearance of Globorotalia truncatulinoides is diachronous at 1.6-1.7 Ma at Site 1127 and 1.1-1.2 at Sites 1129 and 1132, similar to other local appearances in high latitudes. All other datum levels, however, are synchronous with open-ocean events, including the first appearance of Globorotalia hirsuta and the last appearances of Globorotalia tosaensis and pink Globigerinoides ruber in the Indo-Pacific region. A local reappearance of Gt. hirsuta at ~0.12 Ma and the disappearance of Globorotalia crassaformis at ~0.10 Ma were found to be useful for local biostratigraphy. Age control at the bottom of all of the sections is poor at this time, but results suggest that sedimentation recommenced starting at ~1.9 Ma above the regional unconformity that marks the base of seismostratigraphic Sequence 2. Sediment accumulation is distinctly reduced in the lower Pleistocene compared to the upper Pleistocene, perhaps in part because of processes associated with several omission surfaces.

Pleistocene planktonic foraminifera at ODP Site 128-798

ODP Site 798 on the Oki Ridge in the Southern Japan Sea yielded the first continuous and well-preserved record of Pleistocene planktonic foraminifers in the Northwestern Pacific Ocean region. Quantitative analysis of planktonic foraminifers completed for 122 samples from the 200-m-thick Pleistocene section cored at ODP Site 798 provides a proxy record of variations in sea-surface temperature, productivity, and circulation during the past 1.6 m.y. in an area beneath the track of the Tsushima Current. Faunal census data allow recognition of five distinct assemblages: (1) type A assemblages dominated by sinistrally coiling forms of Neogloboquadrina pachyderma representing polar-subpolar surface temperatures, (2) type B assemblages dominated by Globigerina bulloides and thought to represent periods of increased surface productivity and upwelling, (3) type C assemblages marked by significant abundances of dextrally coiling forms of N. pachyderma thought to represent the warm transitional waters of the Tsushima Current, (4) type D assemblages distinguished by relatively high percentages of dextral N. pachyderma and Globorotalia inflata that also represent warmer surface temperatures and increased flow of the Tsushima Current, and (5) type E assemblages marked by relatively large numbers of the delicate species Globigerina quinqueloba and Globigerinita spp., indicative of exceptional preservation conditions and/or episodic high production of these taxa. Early and middle Pleistocene coiling patterns of Neogloboquadrina pachyderma at Site 798 can be correlated with Pleistocene coiling trends and planktonic foraminiferal datums established in the onshore Oga Peninsula sequence of Northern Honshu and open-ocean N. pachyderma coiling dominance shifts in the North Pacific region. A sustained early Pleistocene warm period recognized in both the Oga Peninsula sequence and the Northern Pacific can clearly be recognized at Site 798. In addition, the late Pleistocene planktonic foraminiferal record at Site 798 shows good correlation with glaciation/deglaciation events for the Northern Hemisphere as delineated by oxygen isotopes and represents the first detailed analysis of Pleistocene sea-surface temperature changes in the Northwestern Pacific Ocean region.

Radiolarians of DSDP Site 136-842 and Hole 136-843C

Deep-sea cores recovered at Sites 842 and 843 on Leg 136 of the Ocean Drilling Program have yielded assemblages of Quaternary, Eocene, and Cretaceous radiolarians from the Hawaiian Arch region of the northern equatorial Pacific Ocean. Reddish-brown clays from Hole 842A (0-9.6 mbsf), Hole 842B (0-6.3 mbsf), and Hole 843C (0-4.2 mbsf) contain abundant and diverse assemblages of Quaternary radiolarians consisting of more than 80 species typical of the equatorial Pacific region. Quaternary radiolarians at these sites are assignable to the Quaternary Collosphaera tuberosa Interval Zone and Amphirhopalum ypsilon Interval Zone. The boundary between these zones cannot be determined precisely because of the rarity of zonal markers below surface sediments. Correlations have been made between radiolarian occurrences and magnetostratigraphic events elsewhere in the Pacific Ocean, but similar correlations are difficult at Sites 842 and 843 because of poor subsurface preservation. Chert samples collected from intervals in Cores 842B-10X and 842C-1W have yielded radiolarian ages of lower Cenomanian to Santonian and lower Cenomanian, respectively. Radiolarian assemblages in volcanic sand layers in Sections 6 and 7 of Core 842A-1H (7.5-9.6 mbsf) contain lower and middle Eocene radiolarians admixed with abundant Quaternary faunas. Reworked Eocene radiolarians appear to be restricted to thin layers of volcanic sands within the cores, suggesting deposition by turbidity currents.

Upper Lost River Division, Klamath Project, Oregon-California : June 1972 concluding report.

Mode of access: Internet.

Earthquake history of the United States ...

This publication replaces Special publication 149, Earthquake history of the United States exclusive of the Pacific region, 1928, and Special publication 191, Destructive and near-destructive earthquakes in California and western Nevada, 1934. cf. pt. II, p. 1.

Riding the line : the United States Customs Service in San Diego, 1885-1930 : a documentary history /

"May 1991"--P. [4] of cover.

Flood flow through reservoirs as modified by storage / A.L. Sharp and V.I. Myers.

Mode of access: Internet.

Social Impact of Coca Crops in Colombia. : From socio-territorial processes to new social configurations: the role of land tenure, armed conflict, environment and coca crops.

This paper explores alterations in social dynamics caused by coca crops in Curvaradó and Jiguamiandó, at Choco department in the Colombian Pacific region. The research analyzes the role of armed actors such as paramilitaries and guerrillas in the conformation of new social spaces where local people find resistance as the main tool to survive in chaotic environments. Local power as a politics of resistance is also analyzed. Non-governmental organizations are a key tool to comprehend new social configurations. By doing the analysis and comparison using political ecology as the theoretical background along with concepts of moral economy and everyday resistance, with qualitative research methods. The paper aims to interpret and provide a better understanding of those changes considering social-environmental relations. Findings suggest that those changes in social structure are leading to an understanding, not just of the organization of the area, but also that social dynamics and coca crops cannot be generalized in the country. 

Delayed traveling ionospheric disturbances, especially in equatorial regions, following geomagnetic activity

For the Western-Pacific region spread-F has been found to occur with delays after geomagnetic activity (GA) ranging from 5 to 10 days as station groups are considered from low midlatitudes to equatorial regions. The statistical (superposed-epoch) analyses also indicate that at the equator the spread-F, and therefore associated medium-scale traveling ionospheric disturbances (MS-TIDs) occur with additional delays around 16, 22 and 28 days representing a 6-day modulation of the delay period. These results are compared with similar delays, including the modulation, for D-region enhanced hydroxyl emission (Shefov, 1969). It is proposed that this similarity may be explained by MS-TIDs influencing both the F and D regions as they travel. Long delays of over 20 days are also found near the equator for airglow-measured MS-TIDs (Sobral et al., 1997). These are recorded infrequently and have equatorward motions, while normally eastward motions are measured at the equator. Also in midlatitudes D-region absorption events have been shown (statistically) to have similar long delays after GA. It is suggested that atmospheric gravity waves and associated MS-TIDs may be generated by some of the precipitations responsible for the absorption. The recording of the delayed spread-F events depends on the GA being well below the average levels around sunset on the nights of recording. This implies that lower upper-atmosphere neutral particle densities are necessary.