Japan's Fukushima nuclear crisis was a preventable disaster resulting from collusion among the government, regulators and the plant operator, an expert panel said, wrapping up an inquiry into the worst nuclear accident in 25 years.
Moody's Investors Service cut this week its rating on Japan's government debt by one notch to Aa3, blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies.
The United Nations nuclear agency, IAEA, says there have been positive developments in Japan's efforts to tackle a nuclear emergency after the 11 February quake.
A second explosion has hit the nuclear plant in Japan that was damaged in Friday's earthquake, but officials said it had resisted the blast. TV footage showed smoke rising from Fukushima plant's reactor 3, a day after an explosion hit reactor 1.
Moody's Investor Services has cut its outlook on Japan's credit rating to negative from stable citing concerns about debt levels. Moody's currently rates Japan's government debt at an Aa2 level.
The weight of Japan's public debt, the highest in the world, is unsustainable in the medium and long term warned this week Naoyuki Shinohara, Deputy Executive Director of the International Monetary Fund.
Japan's prime minister said that authorities would keep intervening to curb the country’s currency strength as sagging manufacturing confidence underscored the threat the currency poses to the fragile economic recovery.
Japan’s economy expanded at the slowest pace in three quarters. GDP rose an annualized 0.4% in the three months ended June 30 from a revised 4.4% expansion in the first quarter, the Cabinet Office said in Tokyo.