Naoimi Hirose, president of Tokyo Electric Power Co. -– operator of the crippled Fukushima Dai-ichi nuclear plant -– says the company is moving along in its efforts to persuade local residents to go along with the restart of several reactors at its Kashiwazaki-Kariwa plant on the Japan Sea coast, The Wall Street Journal reports.
TOKYO (AP) — Japan and the U.S. are moving closer to reaching agreement on market opening measures needed to conclude a Pacific Rim trade pact, a top U.S. envoy said Friday, urging Japanese business leaders to help bridge the last, difficult disagreements.
U.S. Deputy Secretary of State Antony J. Blinken urged members of the Japan Association of Corporate Executives to "pick up your phones" and use their influence to convince officials to work toward a final consensus on the Trans-Pacific Partnership, or TPP.
TOKYO (AP) — Japan's trade deficit ballooned to a record 12.8 trillion yen ($109 billion) last year as a weakening yen pushed the cost of imports higher despite a moderate recovery in exports.
Preliminary data from the Finance Ministry released Monday showed Japan's exports rose 4.8 percent to 73.1 trillion yen ($620 billion) in 2014 while imports climbed 5.7 percent to 85.9 trillion yen ($763.7 billion). The trade deficit rose by 11.4 percent from the 11.5 trillion yen ($97.7 billion) gap in 2013.
The Japanese yen has weakened over the past year to about 117 yen to the dollar compared with about 100 yen in early 2014. That raises the value of Japan's exports in yen terms. But it also pushes up costs for imports of fuel and food.
TOKYO (AP) — Japan logged a trade deficit in November, the 29th straight month of shortfalls, despite a slight decrease in imports thanks to the recent plunge in crude oil prices and Japan's return to recession.
The 891.9 billion yen ($8.5 billion) deficit in November compared with a 737 billion yen gap the month before, customs data showed Wednesday. However it was 32 percent lower than a year earlier.
Political observers and environmental activists have told Bloomberg that the solid re-election victory for Prime Minister Shinzo Abe in Japan will promote the country’s nuclear power industry at the expense of renewables.
European stocks inched higher Monday while Asian markets fell as weak Japanese data, slumping oil prices and a hostage situation in Australia's largest city induced caution.
KEEPING SCORE: In early European trading, France's CAC 40 was up 0.3 percent at 4,120.44 and Germany's DAX gained 0.1 percent to 9,600.89. Britain's FTSE 100 added 0.1 percent to 6,307.59. Futures pointed to a rebound on Wall Street after Friday's decline, which produced the worst weekly loss in U.S. shares in more than two years. Dow futures were up 0.6 percent at 17,288 and S&P 500 futures gained 0.6 percent to 2,002.60.
OIL SLUMP: Oil inched higher after another rout on Friday that was sparked by the International Energy Agency saying that global demand will grow less than previously forecast next year. Oil has now fallen 47 percent since reaching a peak of $107 in June this year. On Monday, benchmark U.S. crude was up 41 cents at $58.22 a barrel in electronic trading on the New York Mercantile Exchange. Lower oil prices should be positive for many countries but there are also worries the recent plunge is a sign of a sickly global economy.
KANCI KULON, Indonesia (AP) — About $1 billion in loans under a U.N. initiative for poor countries to tackle global warming is going toward the construction of power plants fired by coal, the biggest human source of carbon pollution.
Japan gave the money to help its companies build three such plants in Indonesia and listed it with the United Nations as climate finance, The Associated Press has found. Japan says these plants burn coal more efficiently and are therefore cleaner than old coal plants.
Word that Japan has slipped into recession kept pressure on oil prices Monday ahead of a key OPEC meeting later this month. West Texas Intermediate crude for December delivery dropped 18 cents to settle at $75.64 on the Nymex, while in London Brent finished the trading session 10 cents lower at $79.31, Bloomberg reports.
News that Japan has fallen into a recession sent oil prices tumbling once again early Monday. West Texas Intermediate crude for December delivery dropped $1.11 to $74.71 a barrel in electronic trading on the Nymex, while in London Brent crude was 77 cents lower at $78.67, Bloomberg reports.
Although sand and water are the primary substances used in fracking, an Environmental Protection Agency analysis of data from FracFocus.org found that nearly 700 chemical additives appear as well, according to The Hill.
Republicans with a college degree are more likely to say that the threat posed by climate change is exaggerated, while Democrats with higher education are more concerned about the issue, according to a Gallup poll, National Journal reports.
Possible GOP presidential contender Rick Santorum told North Carolina lawmakers Thursday that President Obama’s moves to regulate power plant emissions reflect a “quasi-religious” zeal to close coal-fired plants, The Associated Press reports.
Under pressure from Democrats, Republican and the White House to step down, Rafael Moure-Eraso has resigned as chairman of the U.S. Chemical Safety Board, although the CSB said he would remain a member until mid-April, National Journal reports.
A budget amendment from Sen. John Barrasso, R-Wyo., which some say is a referendum on opposition to the Environmental Protection Agency’s proposed Waters of the U.S. rule, was approved on a 59-40 vote, E&E reports.