High-Pressure Phase Equilibria in Systems Containing CO2 and Ionic Liquid of the [Cnmim][Tf2N] Type

In this review, we present a comparison of the high-pressure phase behaviour of binary systems constituted of CO2 and ionic liquids of the [Cn(m)mim][Tf2N] type. The comparative study shows that the solubility of CO2 in ionic liquids of the [Cnmim][Tf2N] type generally increases with increasing pressure and decreasing temperature, but some peculiarities have been observed. The solubility of CO2 in ionic liquid solvents was correlated using the Soave–Redlich–Kwong equation of state. The results of the correlation were analysed by methods of mathematical gnostics. It was proved that the application of this equation of state is sufficient for testing the mutual agreement or disagreement of experimental data of the solubility of carbon dioxide in ionic liquids

Effect of contact angle hysteresis on thermocapillary droplet actuation

Open microfluidic devices based on actuation techniques such as electrowetting, dielectrophoresis, or thermocapillary stresses require controlled motion of small liquid droplets on the surface of glass or silicon substrates. In this article we explore the physical mechanisms affecting thermocapillary migration of droplets generated by surface temperature gradients on the supporting substrate. Using a combination of experiment and modeling, we investigate the behavior of the threshold force required for droplet mobilization and the speed after depinning as a function of the droplet size, the applied thermal gradient and the liquid material parameters. The experimental results are well described by a hydrodynamic model based on earlier work by Ford and Nadim. The model describes the steady motion of a two-dimensional droplet driven by thermocapillary stresses including contact angle hysteresis. The results of this study highlight the critical role of chemical or mechanical hysteresis and the need to reduce this retentive force for minimizing power requirements in microfluidic devices

The last glacial-interglacial cycle in Lake Ohrid (Macedonia/Albania): testing diatom response to climate

Lake Ohrid is a site of global importance for palaeoclimate research. This study presents results of diatom analysis of a ca. 136 ka sequence, Co1202, from the northeast of the lake basin. It offers the opportunity to test diatom response across two glacial-interglacial transitions and within the Last Glacial, while setting up taxonomic protocols for future research. The results are outstanding in demonstrating the sensitivity of diatoms to climate change, providing proxy evidence for temperature change marked by glacial-interglacial shifts between the dominant planktonic taxa, Cyclotella fottii and C. ocellata, and exact correlation with geochemical proxies to mark the start of the Last Interglacial at ca. 130 ka. Importantly, diatoms show much stronger evidence in this site for warming during MIS3 than recorded in other productivity-related proxies, peaking at ca. 39 ka, prior to the extreme conditions of the Last Glacial maximum. In the light of the observed patterns, and from the results of analysis of early Holocene sediments from a second core, Lz1120, the lack of a response to Late Glacial and early Holocene warming from ca. 15-7.4 ka suggests the Co1202 sequence may be compromised during this phase. After ca. 7.4 ka, there is evidence for enhanced nutrient enrichment compared to the Last Interglacial, following by a post-Medieval cooling trend. Taxonomically, morphological variability in C. fottii shows no clear trends linked to climate, but an intriguing change in central area morphology occurs after ca. 48.7 ka, coincident with a tephra layer. In contrast, C. ocellata shows morphological variation in the number of ocelli between interglacials, suggesting climatically-forced variation or evolutionary selection pressure. The application of a simple dissolution index does not track preservation quality very effectively, underlining the importance of diatom concentration data in future studies

Capacitive sensing of droplets for microfluidic devices based on thermocapillary actuation

The design and performance of a miniaturized coplanar capacitive sensor is presented whose electrode arrays can also function as resistive microheaters for thermocapillary actuation of liquid films and droplets. Optimal compromise between large capacitive signal and high spatial resolution is obtained for electrode widths comparable to the liquid film thickness measured, in agreement with supporting numerical simulations which include mutual capacitance effects. An interdigitated, variable width design, allowing for wider central electrodes, increases the capacitive signal for liquid structures with non-uniform height profiles. The capacitive resolution and time response of the current design is approximately 0.03 pF and 10 ms, respectively, which makes possible a number of sensing functions for nanoliter droplets. These include detection of droplet position, size, composition or percentage water uptake for hygroscopic liquids. Its rapid response time allows measurements of the rate of mass loss in evaporating droplets

The New WTO Agreement on Financial Services and Chapter 14 of NAFTA: Has Free Trade in Banking Finally Arrived?

This article discusses the U.S. policy rationale for seeking free international trade in financial services and assesses whether U.S. policy goals have been met through recent trade agreement negotiations. Free trade in financial services has been a goal of U.S. trade policy since the early 1980’s. Over a period of fifteen years, the United States concluded several agreements on financial services with key trading partners. The most significant agreements are the World Trade Organization (WTO) Agreement on Financial Services (FSA) and Chapter 14 of the North American Free Trade Agreement (NAFTA) on Financial Services. In both of these trade agreements, U.S. negotiators succeeded at least partially in achieving the U.S. goals of establishing a framework of principles for financial services trade and achieving national treatment and greater market access for U.S. financial institutions in key markets. Neither trade agreement, however, achieves full liberalization. In the case of the FSA, the framework of principles is subject to significant exceptions and only partial market access concessions have been made by many countries. NAFTA achieved both a firmer framework of principles and more concrete market opening results than the FSA, but some barriers to trade still remain. These results are not surprising given the special status of the financial services industry in the view of national governments, and the enormous gap in development of financial markets between the United States and other countries, especially developing countries. FSA and NAFTA Chapter 14 can best be viewed as tentative first steps towards achievement of U.S. policy goals that will only be fully realized after further negotiations on sensitive issues of regulatory policy have been undertaken

Structuring the Financial Service Conglomerates of the Future: Does the Choice of Corporate Form to House New Financial Activities of National Banks Matter?

The Gramm-Leach-Bliley Act became law on November 12, 1999, bringing to an end a twenty year effort to expand bank powers by amending the Glass-Steagall Act and the Bank Holding Company Act of 1956. Although styled as banking reform legislation, the new law will have a wide ranging impact on the financial services industry generally. A wave of merger activity will likely occur in this industry because many of the legal restrictions on bank affiliations with other financial services providers have been removed. An end result of the new legislation will be the creation of financial services conglomerates offering a combination of banking, securities, and insurance products under one roof. The appropriate corporate structure for expanded banking activities was a key issue in the debates over the new legislation, specifically whether banks should be allowed to conduct new financial activities exclusively through a bank holding company affiliate or whether use of a bank operating subsidiary should also be permitted. Under Gramm-Leach-Bliley, the primary vehicle for new activities will be the bank holding company affiliate. Bank operating subsidiaries may also be used by national banks for a more limited range of new activities and subject to certain restrictions and conditions not applicable in the case of the holding company affiliate. The new law reflects a compromise position in the corporate structure debate. Given the polemical nature of the debate, such a compromise was probably essential to ensure passage of the legislation. Nevertheless, the compromise is not justified in drawing a distinction between the bank holding company affiliate and the bank operating subsidiary as vehicles for new activities. The author reaches this conclusion after analyzing the history of the corporate structure debate and the Gramm-Leach-Bliley compromise from a public policy perspective. She suggests further that Gramm-Leach-Bliley represents a missed opportunity to clarify what is at stake and has resulted instead in a further obfuscation of the issues

Looking at Regional Trade Agreements Through the Lens of Gender

This article focuses on an unresolved issue within international trade law and policy, namely whether there is a need to consider gender-differentiated impacts of trade agreements and if so, how such impacts should be addressed. The author argues in favor of a gender aware approach to trade, discussing this topic within the context of regional trade agreements (“RTAs”), which are being used increasingly as a route to economic integration among nations. While there is evidence of gender-differentiated impacts of trade liberalization, there has been little progress made in advancing an agenda to address gender issues at the level of multilateral trade negotiations through the World Trade Organization(“WTO”). The author suggests that gender issues might be better addressed at the regional level through RTA negotiations, citing several examples of recent developments reflecting a gender aware approach to support her claim. She cautions, however, that such efforts fall short of a comprehensive work program that would advance women’s equality in a truly meaningful way

Evolving Norms of Corporate Social Responsibility: Lessons Learned from the European Union Directive On Non-Financial Reporting

This article examines an important development in the field of corporate social responsibility, namely theadoption of a 2014 European Union Directive (“2014 EU Directive”) mandating non-financial reporting by certain large companies. Such disclosure has traditionally been provided by businesses on a voluntary basis, but the 2014 EU Directive reflects an emerging global trends toward mandatory reporting. Such trend emerged in response to the perceived low quantity and poor quality of information disclosed voluntarily onsocial and environmental topics of importance to corporate stakeholders. The author analyzes the history and development of policy and legislation on this issue both at the European Union level and within two Member States that have been leaders in the area of corporate social responsibility reporting, namely France and Denmark. Such analysis draws on literature from the fields of both law and business and is conducted within the larger frame of the global growth of non-financial reporting and the role that such reporting plays as a mechanism to enhance socially responsible behavior by business. An important feature of the 2014 EU Directive is its regulatory approach, which has been called a “smart mix approach” because it introduces an element of government regulation while still allowing businesses to make significant choices about disclosure on a voluntary basis. The author concludes that the 2014 EU Directive may result in a greater quantity ofdisclosure, but it may not be as successful in achieving the goal of improved quality of such reporting due to fundamental weaknesses in the regulatory approach and content of the 2014 EU Directive, as well as to thelack of preconditions in Member States needed for improved corporate transparency on social and environmental issues. The lessons from the European Union experience detailed in this article may prove useful for countries like the United States, where the development of non-financial reporting has lagged behind other countries

Corporate Social Responsibility of Multinational Enterprises and the International Business Law Curriculum

The author argues for expanded coverage of corporate social responsibility in the U.S. law school curriculum. Corporate social responsibility is of increasing importance for businesses, particularly for those companies that conduct multinational operations. Current national legal and regulatory regimes fail to adequately address the social and environmental issues that arise in business operations. As a result, intergovernmental organizations, non-governmental organizations and businesses have begun to promulgate voluntary codes ofconduct. These codes touch on such subjects as core labor standards, environmental protection, bribery offoreign government officials in international business and human rights. Examples include the Organization for Economic Cooperation and Development Guidelines for Multinational Enterprises and the Global Compact. Businesses have also implemented corporate social responsibility programs as part of their best practices. In addition, there are emerging areas of legal liability involving CSR principles, such as those created under the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, the U.S. Foreign Corrupt Practices Act and the U.S. Alien Tort Claims Act. Although such developments are significant for business, they are not adequately covered in U.S. law school courses on corporate law and international business transactions. As a consequence, U.S. law schools are not adequately preparing their graduates to counsel clients on emerging CSR norms and are neglecting their responsibility to educate students on one of the fundamental values of the legal profession, namely promoting justice, fairness and morality. The author suggests a framework for a corporate social responsibility course or seminar that might be included as part of the U.S. law school curriculum