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Basel II will have a huge impact on the risk management of banks across Europe. The author assesses the findings of a survey from PricewaterhouseCoopers of what the likely results will be on the banking industry.

Many firms did not have mechanisms in place prior to 2007 to identify and track the weak signals of an impending financial crisis, and as a result they were not prepared for the stresses and opportunities the crisis generated. The author aims to offer a guide to identifying these weak signals and a system for mitigating the risk of being hurt by another such crisis.

This is a guide to strategic risk management (SRM), which defines a process of identifying, assessing and economically managing potentially enterprise-threatening losses. It is a way to mitigate developing ambiguous threats before they manifest themselves and then spiral out of control.

Corporate leaders can follow the example of savvy investors who use risk management insights to mitigate the effects of a potential crisis and to profit from one if it develops.

Market pressures can cause firms to loosen product or investment standards incrementally, which over time can radically change a business model’s risk profile without anyone acting to mitigate it.

This guide to Strategic Risk Management provides insight into how corporate leaders can identify the “weak signals” of a financial crisis well before the actual crisis develops and also describes how they can mitigate financial risk in their portfolios and make opportunistic investments and adopt hedging strategies at very favorable price levels.

Centuries of protection have impeded innovation in the textile industry. As these protections elapse, the industry must contend with increasing competition from abroad. This raises the question: will more R&D expenditure enhance competitiveness? To assess this, we measure firm profitability using Tobin's q, the ratio of the stock market valuation of the firm compared to the book value of the firm's assets. Q values are compared to other financial ratios, and then used to assess the impact of research and development (R&D) spending. A Mann‐Whitney rank test indicates firms that conduct R&D are not more profitable, as measured by q, than those that do not conduct R&D.

‘WORK STUDY specialists of Europe—from both the Six and the Seven— are getting together in London this year regardless of what happens to other meetings,’ said Mr. R. M. Currie, C.B.E., President of the European Work Study Federation, in a statement on the forthcoming Congress of the Federation which is to take place at Church House, Westminster, from May 20 to 23.

The purpose of this paper is to recommend print and electronic resources that will be useful in helping the student, scholar or thesis writer who wants to begin an in-depth literature search for criticism of the works of J.R.R. Tolkien. Listings are geared toward the English-speaking, North American user, but include some European sources as well.

Recommendations are based on the author’s experience as a scholar, editor and thesis advisor in the field of Tolkien studies.

While the use of general literature reference sources will satisfy most needs, a serious scholar will need to look beyond the Modern Language Association (MLA) and similar resources to do a comprehensive search of the literature.

This is not a topic covered in reference reviews, previously.

The thirteenth annual report of the Ministry of Health, 1931–1932 (H.M. Stationery Office, price 5s. net), states that during the year the appointments of 23 Public Analysts were approved. The number of samples of food and drugs submitted to Public Analysts in the year 1931 was 136,169. This was a decrease of 346 as compared with the number for the previous year, which was the highest recorded; 6,324 samples were reported as adulterated or not up to standard, being 4·6 per cent. of the number examined. This is the lowest percentage recorded and compares with 4·8 per cent. in 1930 and 5·4 per cent. in 1929. The detailed statement in regard to the samples analysed is as follows:—

Mr E. W. Jones has been appointed Chairman and Dr J. Shields Managing Director of A.E.I. Thorn Semiconductors Ltd. This new company, formed to combine the semiconductor interests of A.E.I, and Thorn, is managed by A.E.I, through its Electronics Group.

A special committee has been appointed by the Central Training Council to consider the problems of the recruitment and training of training officers. It is composed partly of members of the Council and partly of others with special qualifications.

This book is written for the student and admirably suits that purpose. It treats the general subject of aeronautics in an elementary and concise way, but covers a wide field so that many engaged in the profession should be able to derive interesting and instructive lessons.