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Thursday, 14 April 2011 - Japan's nuclear crisis continues to hit economy |
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    Edition: U.S. Article Comments (1) Slideshow Video Follow Reuters Facebook Twitter RSS YouTube Read UPDATE 1-Geithner says Congress will pass debt limit increase 13 Apr 2011 U.S. plans new push on Arab-Israeli peace: Clinton 12 Apr 2011 Senate panel slams Goldman in scathing crisis report 13 Apr 2011 Senate panel slams Goldman in scathing crisis report 13 Apr 2011 Brain shrinks a decade before Alzheimer's appears 13 Apr 2011 Discussed 156 China tells U.S. to quit as human rights judge 141 Reid says Republicans want shutdown to close clinics 117 Obama, Congress struggle to find budget deal Watched South Korean "super gun" packs hi-tech killing power Mon, Feb 14 2011 Argentine models bare it all Thu, Apr 7 2011 X-47B - the future of autonomous aerial warfare Fri, Feb 11 2011 Japan's nuclear crisis continues to hit economy Tweet Share this By Shinichi Saoshiro and Izumi Nakagawa TOKYO (Reuters) - Japan's nuclear crisis sent corporate confidence plunging to a record low in April and the International Monetary Fund (IMF) warned the risk to the world's third largest economy is firmly on... Email Print Factbox Japan's disaster in figures Wed, Apr 13 2011 Related News Japan nuclear watchdog says may need other option to cool Wed, Apr 13 2011 South Korea's oldest nuclear plant halts over power problem Wed, Apr 13 2011 South Korea seeks documentation on some food from Japan Wed, Apr 13 2011 Japan's northeast suffered many large past tsunamis Wed, Apr 13 2011 Analysis & Opinion Japan’s nuclear crisis and my life From noodles to gasoline Related Topics World » Japan » Natural Disasters » Nuclear Power » Stocks     Related Video Japanese farmers forced to dump nuked milk Wed, Apr 13 2011 Japan gym holds mud-covered memories 1 / 13 The crippled Fukushima Daiichi Nuclear Power plant is seen in Fukushima Prefecture in this undated handout photo released by Tokyo Electric Power Co. (TEPCO) April 14, 2011. Credit: Reuters/Tokyo Electric Power Co. (TEPCO)/Handout By Shinichi Saoshiro and Izumi Nakagawa TOKYO | Wed Apr 13, 2011 11:17pm EDT TOKYO (Reuters) - Japan's nuclear crisis sent corporate confidence plunging to a record low in April and the International Monetary Fund (IMF) warned the risk to the world's third largest economy is firmly on the downside, with no end in sight to its nuclear disaster. Engineers at Japan's crippled nuclear plant, who are struggling to regain control of reactors, are now concerned that some spent fuel rods may have been damaged by the March 11 earthquake and tsunami and could be emitting high levels of radiation. A Reuters poll released on Thursday found business confidence, which had been recovering, fell back into negative territory for the first time this year, with the gloom spreading through both the manufacturing and service sectors. The Reuters Tankan survey of 400 large firms found power shortages caused by the crippled Fukushima Daiichi nuclear plant had hit nearly 60 percent of local companies, disrupting production and supply chains. The disruption to Japan's supply chains has had a global impact, with Sony Corp suspending production and the world's largest automaker Toyota Motor Corp idling plants both locally and in the United States. The IMF has warned that unless Japan can end its nuclear crisis soon and restore power and production to normal in two to three months, its economy is set for further decline. "There's very high uncertainty on Japan's outlook," Naoyuki Shinohara, deputy managing director of the International Monetary Fund, told Reuters in an interview on Wednesday. "If power shortages are prolonged or if the situation at the nuclear plant deteriorates, the outlook will change...the risk is firmly to the downside," he said. The IMF cut Japan's economic growth forecast to 1.4 percent this year from 1.6 percent, projected three months ago, and the Bank of Japan is expected to cut its January growth forecast of 1.6 percent when it issues its twice-yearly outlook on April 28. The Japanese government has already cut its outlook for the economy, in deflation for almost 15 years. Japan is struggling to cope with its worst crisis since World War Two, after the earthquake and 15-meter tsunami hit on March 11, leaving 28,000 people dead or missing, its northeast coast a splintered wreck and a nuclear plant with six reactors damaged. The total cost of the triple disaster has been estimated at $300 billion, making it the world's most costly natural disaster. The Nikkei business newspaper reported on Thursday that Japan and the United States were considering establishing a "reconstruction fund" with corporate investment from both nations. The Nikkei said an agreement on the fund was expected when U.S. Secretary of State Hilary Clinton visits Japan on April 17. DAMAGED NUCLEAR FUEL RODS Japan's nuclear crisis has been rated on par with the world's worst nuclear crisis at Chernobyl in 1986, although the total amount of radiation released is only a fraction of that when the nuclear plant in Ukraine exploded. 1 2 Next World Japan Natural Disasters Nuclear Power Tweet this Share this Link this Digg this Email Reprints   We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (1) Ashishnfl wrote: Economy is good, Who cares for people, People can live with rhetoric/promises/false hope untruth etc etc they are commodity, As long as they care to listen “under and over”" acceptable/unacceptable, good bad” limit. Life is new normal radiation, what is told and convinced for new normal level of radiated food but its good since we can only do so much, Economy has to move since what would world thin of us, people can suffer bcos they are commodity or can get infected with new normal radiation as long as we have their health care we tell they how to get cured once you have radiation related sickness, but rules are people are commodity because they listen and don’t act in favor of their future or present. History repeats itself radiation kills all rich or poor slowly nature gets it always right but animal don’t. POUR SOME CONCRETE ON THOSE REACTORS and move on … Apr 13, 2011 10:31pm EDT  --  Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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