TOKYO— Japanese government auditors say the operator of the Fukushima Dai-ichi nuclear plant has wasted more than a third of the 190 billion yen in taxpayer money allocated for cleaning up the plant after it was destroyed by a March 2011 earthquake and tsunami. FRENCH IMPORT: Among the costliest failures was a 32 billion yen machine made by French nuclear giant...» Read More
The post-tsunami recovery of the Japanese economy is being hampered by the strong yen and the country needs a more concerted effort to get nuclear power stations up and running again, analysts told CNBC Monday.
Rikuzen Takata, a seaside town in Japan's northeastern prefecture of Iwate, was one of the hardest hit communities after the March 11 tragedy. Survivors say the political gridlock in Tokyo is starving them of money they need to rebuild. CNBC's Kaori Enjoji reports.
The Japanese people are fighting hard to get the economy out of the slump that has followed the devastating earthquake and tsunami that blasted parts of the island nation in March, a Nomura analyst told CNBC Monday.
The Bank of Japan kept monetary policy steady on Friday in a sign that a first-quarter economic slump did not change the central bank's view that growth will pick up late this year when the wounds from the devastating earthquake begin to heal.
The odd looking goya has long been a popular ingredient in Japanese cuisine, but a Tokyo restaurant chain is now growing the courgette-shaped bitter melon to create “green curtains” outside the windows of several hundred of its eateries. The FT reports.
Carlene Pinto watched from her middle-school classroom in Brooklyn as the plane pierced the second tower; then she trudged the three miles home as paperwork and dust rained from the sky. Rebecca Rodriguez felt helpless as a teenager watching Hurricane Katrina unfold on television. And Lindsay Yates still shudders at the recollection of Hurricane Fran, which killed two dozen people in her native North Carolina when she was a second grader, the New York Times reports.
Despite the dangers at Fukushima, laborers from across Japan are traveling to the plant in search of work during the country’s harsh economic downturn. The NYT reports.
European gas suppliers could see a boost from Germany's decision to phase out nuclear energy, with other countries set to follow Berlin's lead, Per Lekander, head of utilities research at UBS, told CNBC Wednesday.
Nuclear safety watchdogs and G20 energy ministers gathering in Paris on Tuesday and Wednesday to work on reinforcing nuclear safety around the globe in the wake of the Japanese nuclear disaster at Fukushima last March were keen to stress nuclear energy is still a viable source of alternative energy.
China’s freeze on new nuclear projects could last until the beginning of 2012, according to a senior industry official, underlining the gravity of China’s nuclear safety review. The FT reports.
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Even the most intellectually gifted prognosticators did not foresee key forces that would cause paradigm shifts in society.
Vents that American officials said would prevent devastating explosions at nuclear plants in the United States were put to the test in Japan and failed, the NYT reports.
The global surge in energy and commodity prices had a bigger financial impact on developing Asia’s big companies in the first quarter than Japan’s devastating earthquake and tsunami, results and trading updates suggest. The Financial Times reports.
Across Japan, there is a shared realization that the natural and nuclear disasters unleashed on March 11 have exposed the fragility of its postwar economic order — and that a recovery will not be a return to the status quo, the NYT reports.
Since the March earthquake and tsunami hit that Japan, there’s been no shortage of new apps designed to help users prepare for, deal with and even recover from a disaster.
With oil refineries out of commission and clogged roads slowing gasoline deliveries, Japan turned to electric cars to help provide needed services after the earthquake and tsunami in March. The New York Times reports.
The French telecom equipment maker, Alcatel-Lucent, returned to profit at an operating level in its 2011 first quarter , despite disturbances caused by the Japanese earthquake and tsunami in early March.
We have not had an energy policy in the United States in the nearly three decades I have been in the utility business. What we have is a strange mix of mandates and markets that we sometimes call energy policy. Electricity—like horseracing, gambling and prostitution in Nevada—is too much fun for politicians to leave to the market.
Stone tablets in Japan, some more than six centuries old, are inscribed with messages about tsunamis, the New York Times reports.