PASADENA, Calif.— California has received a spurt of federal funding to expand an earthquake warning system intended to provide enough time for trains to brake, utilities and factories to shut off gas lines, and people to dive under a table until the shaking stops. California trails Japan, Mexico and other earthquake-prone areas in developing a public alert...» Read More
The toll in human misery wrought by the tsunami and earthquakes in Japan test the imagination of economists but the effects on Japan’s GDP and wealth are a different matter.
Amid all the bad news coming out of Japan and the earthquake/tsunami devastation, it's the impact on Toyota's Prius production that is very intriguing.
While the world has fallen out of love with the Japanese economy in recent years it remains an economic powerhouse and important to the global economy, Sean Corrigan, chief investment strategist at Diapason Commodities Management, said Monday.
Japan's Nikkei average tumbled over 5 percent at one point on Monday as investors shifted to safer assets following after Friday's massive earthquake and tsunami, with the long-term impact uncertain as nuclear disaster looms.
Japan faces earthquake aftermath and nuclear emergency, Gaddafi wins gains against rebels, and the Rajaratnam trial continues.
Japanese investment bank Nomura is predicting the 9.0-magnitude earthquake that occurred off the northeastern coast of Japan on Friday will hit Japanese growth in the second quarter and predicts reconstruction efforts will not boost growth as much as some are predicting in the second half of 2011.
The unfolding crisis at the two reactors, both at the Fukushima Daiichi Nuclear Power Station, feeds into a resurgence of doubts about nuclear energy’s safety — even as it has gained credence as a source of clean energy, the New York Times reports.
A partial meltdown was likely under way at a second nuclear reactor, a top Japanese official said Sunday, as authorities frantically tried to prevent a similar threat from nearby unit following a catastrophic earthquake and tsunami.
The central problem in assessing the degree of danger is that the amounts of various radioactive releases into the environment are now unknown, the New York Times reports.
Fishermen who had escaped to sea before the tsunami hit this struggling coastal town landed small loads of crab on Saturday, while crews surveyed damage and a family combed the beach for any sign of a man who was swept away a day ago as he photographed the waves.
While commodity and currency markets took the biggest immediate hit from Friday's earthquake and tsunami in Japan, the damage will be felt throughout the world's economy and the US.