TORONTO, May 4- A wildfire in the Alberta city of Fort McMurray is set to become the costliest ever Canadian natural disaster for insurers, with 1,600 buildings destroyed and another 19,000 under threat, analysts and industry sources say. The fire in Slave Lake, a small town 250 km northwest of the city of Edmonton, led to the destruction of 374 homes, less than a... » Read More
As Japan’s nuclear crisis intensified Wednesday, governments across Europe remained at odds over whether to scale back nuclear power programs or continue plans to expand, reports the New York Times.
It was a mixture of historical technical levels and algorithmic trading that rocketed the yen to an all-time high of 76.25 against the dollar Thursday, according to Thanos Papasavvas, head of currency management at Investec Asset Management.
The world economy is still very fragile and the impact of the Japanese earthquake and the nuclear crisis is distressing, Stephen Roach, non-executive chairman at Morgan Stanley, Asia, told CNBC in an interview.
The complexity and uncertainty surrounding Japan's nuclear crisis has created a great divide between investors who are now running from risk and those who think they can ride it out.
Cramer has advice for investors who want to sell stocks now.
Cramer found a cheap stock that's poised to benefit from Japan's reconstruction.
Consider these five dividend-paying stocks, the "Mad Money" host said.
The yen rallied to a new all-time high against the dollar as traders speculated G-7 central bankers may be getting ready to intervene to drive the currency lower.
The Japan situation offers a new “calibration point” for insurers and the world, Glenn Renwick, CEO of insurance company Progressive, told CNBC Wednesday.
On March 11, 2011, an earthquake measuring 9.0 on the Richter scale struck Japan, bringing a destructive tsunami along with it. See 11 other history-making nuclear disasters.
Insight on a new in-car tracking device and how insurance companies deal with disaster, with Glenn Renwick, Progressive CEO.
As global sell-off intensifies on fears of Japan's nuclear crisis, the former car czar told CNBC Wednesday that nothing will derail our economic recovery except oil.
Traders have started souring on some emerging market currencies this week, and the fun may just be starting.
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.