SAN JUAN, Aug 29- Puerto Rico will delay until Sept. 8 the completion of its fiscal reform plan, the commonwealth's government said on Saturday, citing time spent on contingency disaster planning by the government in the run-up to Tropical Storm Erika. A working group appointed by Puerto Rico Gov. Tropical Storm Erika hit the eastern portion of Puerto Rico early on...» Read More
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.
The market reactions to the tragic events in Japan over the last few days have been rational and investors will need convincing the nuclear crisis has been averted before any rally according to Bob Parker, a senior advisor to Credit Suisse in London.
The Fed Tuesday is expected to show it remains committed to its easy money policies, which temporarily may take investor focus away from global events.
Following the huge losses on the Nikkei, with more than $700 billion dollars wiped off the Japanese market in just two sessions, one economist is predicting the tragic events in Japan will be an "excuse" 'to move to quantitative easing in all major markets.
The yen should be much weaker against the U.S. dollar in the long run based on fundamentals, Nouriel Roubini, Chairman & Co-Founder Roubini Global Economics told CNBC on Tuesday.
Even as workers race to prevent the radioactive cores of the damaged nuclear reactors in Japan from melting down, concerns are growing that nearby pools holding spent fuel rods could pose an even greater danger, the New York Times reports.
Japanese authorities continued to struggle to respond to the aftermath of Friday’s earthquake and tsunami as thousands remained missing and nearly half a million survivors huddled in temporary shelters, the Financial Times reports.
Natural gas was at a two-week high Monday as Japan's nuclear power shut down put the spotlight on global natural gas supplies, as an alternate fuel for electric power generation.
Japanese markets are behaving consistent with recent post-disaster pattern: a lower stock market, lower government bond yields and a mixed outcome for the currency.
Despite Japan's massive earthquake and tsunami's impact on global markets, the escalating violence in the Middle East still poses the biggest threat for investors, according to Shawn Matthews, CEO of Cantor Fitzgerald, a privately-owned investment bank.
The biggest earthquake to hit Japan in 140 years, measured 8.9 on the Richter scale according to the U.S. Geological Service.
PIMCO CEO Mohamed El-Erian shared his thoughts on Japan's economy, following the tragic earthquake and tsunami that hit that nation Friday. El-Erian wrote that five factors will dominate the economic outlook, as the whole world is hoping the tragedies will soon give way to stories of rescues and recovery of a society that is suffering enormous pain and disrupting uncertainties.
As the Japanese race the clock to avert a nuclear meltdown at a power plant, House Speaker John Boehner, (R-Ohio), told CNBC Monday that the US needs to assess both the Japanese situation and its own relationship with nuclear energy.
The world's biggest nuclear power is France, where 58 plants generate 75 percent of the nation's electricity.
The yen is stable for now after moves by the Bank of Japan, and the dollar is depressed by OPEC selling — it's time for your FX Fix.
It took us ten hours to drive in from Tokyo. Yet slowly, there were signs of what was to come. Gaping holes in the highway, fallen trees, and pavements turned into bumps as they undulated during the quake.
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.
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.