Radioactive groundwater under Fukushima nears sea



— Aug. 23 7:02 AM EDT

TOKYO (AP) — Deep beneath Fukushima’s crippled nuclear power station a massive underground reservoir of contaminated water that began spilling from the plant’s reactors after the 2011 earthquake and tsunami has been creeping slowly toward the sea. Now, 2 1/2 years later, experts fear it is about to reach the Pacific and greatly worsen what is fast becoming a new crisis at Fukushima: the inability to contain vast quantities of radioactive water. Read more of this post

Fed Burned Once Over Taper Now Twice Shy on QE3

Fed Burned Once Over Taper Now Twice Shy on QE3

U.S. central bankers have $3 trillion of losses reminding them they had better get their communications right should they decide to taper their bond purchases.

That’s how much global equity markets declined in the five days after Federal Reserve Chairman Ben S. Bernanke’s June 19 remarks that he may reduce his $85 billion in monthly securities buying this year and halt it altogether by mid-2014. His comments pushed the yield on the benchmark 10-year Treasury to a 22-month high. Read more of this post

S. Korea’s traditional markets go high-tech

S. Korea’s traditional markets go high-tech

Friday, August 23, 2013 – 16:02


SEOUL – Seoul’s traditional markets – bustling, narrow streets of small vendors selling cheap, fresh produce – have largely opted out of the high-tech charge to make the South Korean capital one of the most wired cities on earth. But squeezed by big-box stores and dwindling custom, these mom-and-pop operations are slowly going digital, replacing well-thumbed ledgers with tablet computers, and cash pouches with sleek smartphones that can scan credit cards. Read more of this post

Newspaper Association of America CEO Caroline Little: Newspapers aren’t dying and Jeff Bezos isn’t crazy

Newspapers aren’t dying and Jeff Bezos isn’t crazy

August 22, 2013: 12:09 PM ET

Companies change with the times, and newspapers are no different. But they are now emerging in a strong position.

By Caroline Little

FORTUNE — Jeff Bezos, John Henry, and Warren Buffett are not investing in dying businesses. They don’t do that. They are investing in assets poised for a rebound. Despite the recent spate of media last week about the spiraling of newspapers, there are a few facts for industry pundits to consider. Newspaper media comprised a $38.6 billion industry in 2012. While those revenues saw a 2% decline compared to 2011 revenues ($39.5 billion), we’re also starting to see promising shifts in the newspaper business model: growing revenue streams across several categories — some of which have only emerged in recent years. Read more of this post

India to Import Onions for First Time Since 2011 as Prices Surge; Onion prices in Delhi surged to 60 rupees (93 cents) a kilogram (2.2 pounds) from 16 rupees three months ago; “The government isn’t caring enough about us.”

India to Import Onions for First Time Since 2011 as Prices Surge

India is preparing to import onions for the first time in two years as a surge in prices threatens to trigger a backlash against Prime Minister Manmohan Singh before next year’s elections.

Prices of the vegetable have almost quadrupled in three months in New Delhi as the government struggles to tackle the highest inflation among the biggest emerging markets. State-run trading company PEC Ltd. this week sought overseas suppliers to deliver as much as 300,000 tons of onions, while National Agricultural Cooperative Marketing Federation of India Ltd. said the country may buy from China, Iran, Egypt and Pakistan. Read more of this post

Indian Billionaire Costs Climb as $18 Billion of Debt Due

Billionaire Costs Climb as $18 Billion of Debt Due: India Credit

Default risk for Indian companies has risen to a one-year high as a plunging rupee increases the cost of repaying $18 billion of debt due by March.

Companies led by billionaires Mukesh Ambani and Anil Agarwal are among borrowers with $10.6 billion of bonds and loans maturing by Dec. 31 and $7.4 billion in the following three months, data compiled by Bloomberg show. The average cost of insuring notes of seven Indian issuers against non-payment has risen 90 basis points in 2013 to 360 basis points as of Aug. 21, the highest since September, according to data provider CMA. A similar measure for Asia fell 23 basis points to 135. Read more of this post

Zombie borrowers haunt China’s shadow banks

Zombie borrowers haunt China’s shadow banks

12:24am EDT

By Gabriel Wildau

SHANGHAI (Reuters) – Call it the new China Syndrome: Although Asia’s biggest economy is slowing down markedly, credit continues to surge. Dead-end projects and dying industries are sucking up an ever-larger portion of new credit, while more productive borrowers are starved for funds. Nowhere is this more evident than in China’s shadow banking sector, the non-bank financiers that have pumped credit into the economy at a spectacular rate. Trust companies – firms that sell investment products to Chinese savers and use the proceeds to make loans or buy other types of assets – have posted the fastest growth. Read more of this post

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