We show that the generating functions of Gromov--Witten invariants with ancestors are invariant under a simple flop, for all genera, after an analytic continuation in the extended Kähler moduli space. This is a sequel to [LLW].

A reconstruction theorem for genus 0 gravitational quantum cohomology and quantum K-theory is proved. A new linear equivalence in the Picard group of the moduli space of genus 0 stable maps relating the pull-backs of line bundles from the target via different markings is used for the reconstruction result. Examples of calculations in quantum cohomology and quantum K-theory are given.

The aim of Part II is to explore the technique of invariance of tautological equations in the realm of Gromov--Witten theory. The main result is a proof of Invariance Theorem (Invariance Conjecture~1 in [14]), via the techniques from Gromov--Witten theory. It establishes some general inductive structure of the tautological rings, and provides a new tool to the study of this area.

Let X denote an equivariant embedding of a connected reductive group X over an algebraically closed field X . Let X denote a Borel subgroup of X and let X denote a X -orbit closure in X . When the characteristic of X is positive and X is projective we prove that X is globally X -regular. As a consequence, X is normal and Cohen-Macaulay for arbitrary X and arbitrary characteristics. Moreover, in characteristic zero it follows that X has rational singularities. This extends earlier results by the second author and M. Brion.

The double point relation defines a natural theory of algebraic cobordism for bundles on varieties. We construct a simple basis (over the rationals) of the corresponding cobordism groups over Spec(C) for all dimensions of varieties and ranks of bundles. The basis consists of split bundles over products of projective spaces. Moreover, we prove the full theory for bundles on varieties is an extension of scalars of standard algebraic cobordism.