Tsunami
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As Japan marks the first anniversary of its worst nuclear accident ever, the debate over a shift to greener energy has not concluded.
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Most investors can rhyme off a litany of reasons as to why to avoid Japan – high government debt, deflation and a demographic vortex just to name a few. But Japanese equities appear to be emerging as a favorite contrarian play among some experienced investors.
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Jacinthe Martin says it took her a few days to reach “panic” status last March, as Japan’s nuclear crisis deepened following its earthquake and tsunami. But the agitated news reports and frantic emails from friends finally pushed her – like many foreign residents of Tokyo – to abandon her adopted city for sanctuary overseas, FT reports.
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In the darkest moments of last year’s nuclear accident, Japanese leaders did not know the actual extent of damage at the plant and secretly considered the possibility of evacuating Tokyo, an independent investigation into the accident disclosed. The NYT reports.
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Boeing set to end 2011 with its worst performance against Airbus in 40 years, and Toyota predicts a rebound in 2012. CNBC's Phil LeBeau reports.
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Japan's fishing industry may be about to undergo a complete transformation. One local government is proposing opening coastal waters to big-business investors in what he says is an effort to save the industry. The Christian Science Monitor reports.
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More than 20 spots in and around the nation’s capital are contaminated with potentially harmful levels of radioactive cesium, according to a citizens’ group and the respected nuclear research center they worked with. The NYT reports.
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Some analysts believe the euro could be heading to a new lower range, as Europe grapples with its peripheral debt crisis.
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Following the catastrophic earthquake in Japan on March 11, 2011, affected companies – including my own – have taken a fresh look at the way they manage risk. And for good cause.
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"My favourite candidate [to replace Naoto Kan as Prime Minister] is Yoshiko Noda, the finance minister, but as to who is most likely, that is still very hard to tell," Takuji Okubo, chief Japan economist at Societe Generale, told CNBC.
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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.
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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.
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The nuclear industry has learned from the Japan crisis, says Marvin Fertel, Nuclear Energy Institute president/CEO, who says companies are taking steps to make nuclear energy production more safe.
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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.
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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.
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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.
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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.
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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.
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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.
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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.