Japan can pay for rebuild: central bank governor

Japan’s economy suffered a big blow in the triple earthquake, tsunami and nuclear disaster, but the country should have no problem financing reconstruction, the central bank chief said. Bank of Japan Governor Masaaki Shirakawa conceded problems in the economic supply chain, power generation, tourism and other important sectors. But he said the financial system could cope. “As long as Japan continues to work tirelessly towards... [more]

Japan will ‘never abandon’ tsunami victims: PM

Prime Minister Naoto Kan pledged Sunday he would “never abandon” survivors of Japan’s tsunami as he tried to focus attention on the future, despite a high-stakes battle at a nuclear plant. Kan, in only his second trip to the disaster zone in the month since the March 11 tragedy, was due to visit survivors to hear directly from victims to help shape policy in the weeks and months ahead, the government said. He will also... [more]

China factories face shortages due to Japan quake

Electronics and auto makers in China are facing a severe shortage of components after Japan’s twin disasters disrupted production, but the full impact will not be felt for weeks, analysts say. The earthquake and tsunami that devastated Japan’s northeastern coast on March 11 shattered infrastructure, caused power outages and forced temporary factory shutdowns — meaning shipments of key parts to China also stopped. “As... [more]

Japan minister visits stricken nuclear plant

Japan’s industry minister has met workers battling to cool overheating reactors and plug radioactive leaks in the first government visit to the country’s tsunami-crippled nuclear plant. The visit came as one of the country’s top nuclear officials called for a sweeping review of safety standards in the industry and Tokyo warned the crisis at the plant was far from over. Industry minister Banri Kaieda donned full protective... [more]

Troops launch new search for Japan tsunami dead

The Japanese and U.S. militaries launched another all-out search for the bodies of earthquake and tsunami victims Sunday along Japan’s ravaged northeast coast. About 22,000 Japanese troops, along with 110 from the U.S., searched by land, air and sea. Television news footage showed them using heavy equipment to lift a boat washed inland by the tsunami so they could search a crushed car underneath. No one was inside the car. The troops... [more]

Japan races to find tsunami dead despite radiation

Japanese police raced Thursday to find thousands of missing bodies before they completely decompose along a stretch of tsunami-pummeled coast that has been largely off-limits because of a radiation-leaking nuclear plant. Nearly a month after a 9.0-magnitude earthquake generated the tsunami along Japan’s northeastern coast, more than 15,000 people are still missing. Many of those may have been washed out to sea and will never be found. In... [more]

Japan’s dim capital faces further power crunch

When a boiling summer hits power-starved Tokyo, even Japan’s culture of self-restraint will hit its limit. The March 11 tsunami that smashed into Japan’s northeast coast, killing as many as 25,000 people and knocking out nuclear power generation, has transformed this usually bright, bustling metropolis into a dark, humbler version of itself. Running on eco-mode in the cool spring invites few complaints as citizens bundle up,... [more]

Engineers fail to seal leak at Japan nuke plant

Engineers failed to seal a crack where highly radioactive water was spilling into the Pacific from a Japanese nuclear power plant incapacitated by last month’s earthquake-spawned tsunami but said a search of the site found no other leaks Sunday. The wave has carved a path of destruction up and down the coast and is believed to have killed 25,000 people. The first deaths at the Fukushima Dai-ichi nuclear plant itself, though, were confirmed... [more]

France urges world nuclear review after Japan crisis

French President Nicolas Sarkozy called on Thursday for the creation of new global nuclear regulations by the end of 2011 during a first visit by a foreign leader to Japan since the earthquake and tsunami that triggered its atomic disaster. Group of 20 chairman Sarkozy said France wanted to host a meeting of the bloc’s nuclear officials in May to fix new norms in the wake of the crisis at Japan’s Fukushima Daiichi plant. “We... [more]

Nissan denies report on Renault holding company

Nissan Motor on Thursday denied a report that France’s Renault SA and the Japanese automaker were considering a holding company to put the two firms and several of their interests under a single umbrella. The Japanese business daily Nikkei, citing an interview with Nissan president Carlos Ghosn, said Russia’s leading auto maker AvtoVaz, which is 25 percent owned by Renault, would be incorporated in the proposed company. Romania’s... [more]

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