TOKYO, Aug 13- A sales tax hike last quarter drove Japan's economy into its biggest contraction since the March 2011 earthquake and tsunami, Cabinet Office data showed on Wednesday, keeping policymakers under pressure to expand fiscal and monetary stimulus should recovery falter again.» Read More
Some analysts believe the euro could be heading to a new lower range, as Europe grapples with its peripheral debt crisis.
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.
"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.
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 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.
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.
Raised debt ceiling rejected, May auto sales slumped and the LinkedInIPO emulated. Here's what we're watching...
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.
CNBC's Jane Wells takes a look at the concerns over nuclear power after the earth shook in Japan.