The U.S. Agriculture Department, which oversees the Forest Service, is spending more than $150 million a week beating back several dozen blazes, he said. Senator Ron Wyden, an Oregon Democrat who is co-sponsor of a bipartisan bill that would assign national disaster status to the largest 1 to 2 percent of wildfires, freeing up emergency funding and preventing...» Read More
Because of Japan’s many troubles, before and after recent events, the Asia nation could face recession again, Stephen Roach, Morgan Stanley’s non-executive chairman Asia, told CNBC Wednesday.
At worst, the crisis in Japan will reduce U.S. gross domestic product by one-half of 1 percent, according to Brian Levitt, economist at Oppenheimer Funds.
The international outpouring of support for the people of Japan has been a truly wondrous thing to behold.
The yen hit a four-month high against the dollar, and Bahrain's central bank is on the move — it's time for your FX Fix.
A small crew of technicians, braving radiation and fire, became the only people remaining at the Fukushima Daiichi Nuclear Power Station on Tuesday — and perhaps Japan’s last chance of preventing a broader nuclear catastrophe, the New York Times reports.
Oil prices have fallen sharply in the wake of the disaster in Japan as investors have shunned risk. Nymex has declined around 5 percent since last Friday's earthquake and tsunami. However, Jim Rogers, Chairman of Rogers Holdings, who has been a long-term bull on oil, thinks it's only a matter of time before the current trend reverses.
With many Japanese factories facing temporary or partial closure, the earthquake has left investors facing an uncomfortable truth: in the modern world, it can be tough to assess how convoluted cross-border linkages really work, in manufacturing as in finance, the Financial Times reports.
The type of containment vessel used in the stricken reactors in Japan has long been thought susceptible to failure in an emergency. The NYT reports.
To find them, Cramer goes "Off the Charts."
Japan's nuclear concerns are not comparable to the Chernobyl disaster, Cramer said.
Markets will stay sensitive to any developments with Japan's unfolding nuclear crisis or from Middle East trouble spots, and that could once more weigh on risk assets.
The Tokyo stock market should remain open for trading this week, the country's economy minister said Tuesday.
The March 2011 earthquake off the coast of Japan has rocked international markets as the world tries to gauge the reality of the human and economic devastation in the country.
Japan is struck by the largest recorded earthquake in its history off the coast of the northeastern city of Sendai, putting in motion a series of events that led to a nuclear crisis. The Christian Science Monitor reports.
There is another problem building, and some fear it could lead to a much more widespread crisis in financial assets.
As investors have rushed to safe-haven currencies, the Canadian and Australian dollars have been hit hard - maybe too hard.
In light of the disasters in Japan, the decline in the U.S. stock market is not commensurate with what the impact would be on U.S. economic growth, according to economist Joe LaVorgna.
Shortly after 4 o'clock this morning, a small group of staffers at the U.S. Treasury trooped down a winding staircase into the basement of the building, entering a secure facility called the Markets Room, where the Treasury Department monitors global market conditions on a minute-by-minute basis.
Nouriel Roubini, the New York University economist who gained renown for predicting the financial crisis, sees dark days ahead for the yen.
It's a bad day to hold a risky currency, but anyone with Swiss francs, or even yen, is sitting pretty right now. It's time for your FX Fix.