Globalization of financial institutions: evidence from cross-border banking performance

We address the causes, consequences, and implications of the cross-border consolidation of financial institutions by reviewing several hundred studies, providing comparative international data, and estimating cross-border banking efficiency in France, Germany, Spain, the U.K., and the U.S. during the 1990s. We find that, on average, domestic banks have higher profit efficiency than foreign banks. However, banks from at least one country (the U.S.) appear to operate with relatively high efficiency both at home and abroad. If these results continue to hold, they do not preclude successful international expansion by some financial firms, but they do suggest limits to global consolidation.International finance ; Banks and banking, International ; Bank mergers

Modulation Directe à 10 Gbit/s d'un Laser DFB de Bande Passante 1,25 GHz pour les réseaux PON en utilisant un Egaliseur

National audienceCe papier démontre que l'égalisation électronique permet d'améliorer significativement les performances dans un réseau PON où la source est constituée d'un laser DFB de bande passante 1,25 GHz modulé directement par un signal NRZ à 10 Gbit/s

Characterization of a new peptide transport system in Streptococcus thermophilus

In silk analysis of the genome of Streptococcus thermophilus LMD-9 revealed that this strain has a potential new peptide/nickel ABC transporter. We named this system OTS for Oligopeptide Transporter of S. thermophilus. It is composed of a peptide/nickel binding protein OtsA, two permeases OtsB and OtsC and a double ATPase OtsD. This system was presumably acquired by horizontal transfer from Actinobacteria or distant species like Lactococcus raffinolactis or Enterococcus asini may be via an intermediate like Lactococcus lactis or its ancestor. RT-PCR experiments proved that OTS gene cluster is transcribed and that at least the otsB, otsC, and otsD genes constitute an operon. A mutant LMD-9 Delta ots partially deleted for the otsA and otsB genes was constructed. Growth of LMD-9 and LMD-9 Delta ots strains was monitored in the presence of different nitrogen sources and in the presence of urea and nickel. Results revealed that OTS is not implicated in nickel transport but constitutes a new characterized transporter of peptides of small size, possibly di- and tripeptides in S. thermophilus. (C) 2016 Published by Elsevier Ltd