Showing posts with label quake. Show all posts
Showing posts with label quake. Show all posts

Friday, April 8

Quake helped triple-2010 disaster costs

Geneva - jumped the economic cost of natural disasters and man-made disasters three times to $218 billion in the year 2010 of $68 billion in the previous year, with earthquakes the main cause of death and destruction, insurer Swiss reinsurance co. said Tuesday.

Some 304,000 died a strong increase of 15,000 2009. Haiti in disasters in the last year, earthquake alone died claimed 222,000 life, while nearly 56,000 people have been killed by Russian summer heatwave and over 6,200 people by floods in China and Pakistan.

The Zurich company said insurers $43 billion for the cost of disasters in the last year an increase of 60% last year-port. The earthquake in Chile and New Zealand losses of 12 billion US $ had assured it was. Eight other disasters, costs including storms in the United States, Germany, France and Australia insurers more than $1 billion last year.

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The only man-made disaster to the top ten most expensive was the deepwater horizon explosion, caused a massive oil spill in the Gulf of Mexico.

In its annual report, Swiss Re predicted that losses from the recent earthquake in New Zealand and Japan 2011 will be another expensive year for insurers.

"Although no long-term trend of increasing global earthquake activity, are the number of casualties and insured losses of earthquake on the rise," Balz Grollimund was one of the authors of the report, words. "The main reasons are population growth, the higher number of people living in urban areas as well as increasing prosperity and rapidly growing demands."

With its industry interests in mind Swiss Re Chief Economist Thomas Hess also indicated that many developing countries have poor disaster insurance. To improve some new-found prosperity in countries like China should be used, technisches Hilfswerk and insurance against extreme weather events like floods, he said.

Copyright 2011, the associated press. All rights reserved. This material may not be published, broadcast, rewritten or distributed.

Friday, April 1

Economists annoy global effects of Japan quake

The global economic impact of earthquakes and nuclear crisis of Japan can go also predict modest GDP on the most relevant number crunchers.

Macroeconomists have largely concluded that Japan is no more than a few tenths percent shave off world economic growth, although it is the world's third largest economy and is expected to slip in a short recession.


Hung Tran, Deputy Managing Director of the Institute of international finance, said the impact of direct GDP from Japan is most likely "small" and reversible "be, but the indirect effects of potentially large and long-lasting."


The IIF market monitoring group, the Bank Manager, and former politician, warned last week that Japan investors in a higher "uncertainty premium," factor, until the price of oil and other assets would drive can cause.


Distribution ? can fears of unrest in the Middle East and oil - increases already about violence in Libya get a long-term boost as Japan prompts experience a global re-think of nuclear power.


"We wanted to have a nuclear renaissance," said URI Dadush, an economist at the Carnegie Endowment for international peace, and former Director of international trade for the World Bank.


"If this stops the nuclear renaissance, then there is an increase in the demand for alternatives." Oil one of them, ", added Dadush."


The IIF said would have a sustained increase of energy prices of "serious consequences for global growth and inflation", the IIF said.


Higher inflation connections emerging market difficulties in with pressure on prices and could be advanced economy to consider central bankers, tightening of monetary policy ahead of schedule to the IIF said.


Even before the earthquake was inflation complicate monetary policy. Minutes of the Bank of England's latest policy setting meeting, in due course on Wednesday, are expected to three of nine members of the Committee voted for a rate hike show.


British inflation data, due on Tuesday, will probably show a big jump in the consumer index linked, although these are figures for February, far before the earthquake.


Look economic even backward-looking than usual in fact, that disaster has 11 March Japan this month batch of data. For example U.S. durable goods orders for February can strongly in Thursday's report look, but that says nothing about what happened in March, when some manufacturers could get not enough parts from Japan.


Another Japan factor that can show hit not as direct GDP is the currency volatility. The Group of seven advanced economies appeared on Friday to try, the yen rise, Cap mark their first intervention in more than a decade.


On the surface, this may as an aggressive response to a problem, not to do that, more than dent GDP is expected. Eswar Prasad, an economist Brookings institution that teaches international trade policy at Cornell University said the concern was that extreme currency moves to restrict trade itself.


Global shippers have received also a bit nervous hedge their currency against wild swings, and private trade credit problems providers, he said.


The yen intervention was that the G7 leaders trying to buy "a level of insurance", and they can buy it now relatively cheap, Prasad said.


Dadush, Carnegie Economist, said the G7 was move a quick and effective way to cool speculation in the financial markets.


"As in tennis, a high game of proportion of is it," he said.


Copyright 2011 Thomson Reuters.

Monday, March 21

Quake shows weak link in global supply chains

The disaster in Japan has a problem with such multinational companies as business suspended: the system they use to roles to keep deliveries is slim and low-cost - still vulnerable to sudden shocks.

Factories, ports, roads, railways and airports in Northern Japan have been shut down or damaged due to one he affected the nuclear power plant in the region. So, auto and technology companies are cut off from suppliers in the disaster zone. Some had to stop or slow production.

"When you're running incredibly slim and you're going global, very prone to errors, become Wheatstone", says Stanley Fawcett, Professor of global supply chain management at Brigham Young University.

The risks are higher, because so many companies keep inventory them low, to save money. You can maintain without new supplies not production for long.

Subaru of America has suspended overtime in the only North American in Lafayette, Indiana Toyota Motor Corp. canceled production overtime and Saturday in their 10 North American plants. The two companies try to save their existing supplies.

The auto plants damaged by the earthquake one was located in Miyagi, providing parts for hybrid batteries in Toyota Prius, Camry and Lexus hybrids. It is unclear if a joint venture between Toyota and Panasonic, start the plant running again.

Story: plant shutdowns expand Japanese automakers

Even companies whose Japanese Lieferanten have escape damage encrypted to ensure, supply lines remain intact. Ford, based on a Japanese plant for hybrid batteries for the merger, the flight and the MKZ hybrid vehicles. This work was damaged in the earthquake. But Ford is transportation in Japan no chance because of the troubles. It is on the lookout for alternative supplies and seeking parts in centrifugal casting process when shipping is finished.

"The whole thing overnight could change", says spokesman Todd Nissen.

Story: Japan crisis could squeeze car world production

Car manufacturers all over the world tried to copy the Japanese car manufacturing system, the so slim and cost-efficient is considered. It is built to close links between Ministry of war car manufacturers and suppliers. But if a kink in this system, known developed line to an entire Assembly as the supply chain shut down within hours.

Toyota says that his 20,000 to 30,000 vehicles contain parts. Most come from about 600 suppliers. And the chain not everything. The 600 suppliers even rely on hundreds of other companies to provide raw materials and components.

Use vehicles for many interchangeable parts - of tubes and pipes, screws and nuts. But thousands of other parts are specifically designed for certain vehicles. Steering wheels, seats and even rear-view mirrors to distinguish from vehicle to vehicle.

"A car if you can create only 98 percent of the parts are," says Fred Hubacker, executive Director of restructuring company Conway MacKenzie in Detroit car. "Many of these parts are high-tech products that are not easily replicated."

The disaster threatens the delivery of Japanese of manufactured chips for consumer electronics, from washing machines to television sets to iPads. Factory shutdown and crippled shipping routes pose a security risk for companies that rely on chips for storing data. Japanese semiconductor Giants Toshiba Corp. and Renesas Electronics Corp. have temporarily closed facilities because of the quake.

The electronics companies, which depend on chips from Japan try that assess depth of supply disruptions. Chip prices have already jumped on fear of shortages. The price for a type of memory chip NAND Flash, often in portable electronic devices, used has called more than 10 percent increased since the disaster, analysts say.

For consumer electronics, supply chains are complex. Some phones have dozens of chips. Apple Inc. iPad requires parts from all over the world. The inside of the device show are how much coordination Apple must have enough parts with suppliers all over the world to ensure.

The Wi-Fi version the iPad uses a Toshiba chip data store, analysis of iFixit.com. The chips, the control communications of Broadcom Corp., in Irvine, California comes memory comes from Samsung Electronics Co., Korea. Texas Instruments Inc., power used for the touch screen a chip in Dallas. The processor is designed by Apple, based in Cupertino, California,

These are only the most important semiconductor guts of the machine. A variety of other chips that do other companies, other things in the iPad: activate the compass, for example, and detect if light the screen hits. All other iPad parts, from the glass touchscreen on the screws and cameras, come from a variety of suppliers.

Toshiba one of the companies was forced, after the quake factories closed. So, it is possible to delay that could disturb the delivery of chips for Apple and iPad shipments.

Apple declined comment. Toshiba representative back not immediately one message from the associated press on Wednesday.

HP new CEO, Leo Apotheker, the AP said that his company's infrastructure in Japan is "more or less intact", but that it takes longer to find out the extent of the damage in its supplier network.

Market research firm IHS iSuppli estimates that Japan is to make world's largest supplier of Silicon of semiconductor chips. Its deliveries around the world form about 60 percent.

Japan is also one of the main suppliers of "wafers", are the building blocks of computer chips.

Barclays Capital wrote in a note to investors, that a lack of large wafer consumers such as Intel, the world's largest semiconductor company and Texas instruments could squeeze analysts.

Multinational companies have built in the last two decades and closely managed supply chains that span the world. These chains associate low-wage factories in countries such as China with offices in Europe, Japan, and the United States. BYU Fawcett says, is highlighted, is "lean and global."

Companies have kept to an absolute minimum cost-cutting supplies. As many have to leave what quickly has "just in-time" deliveries with sales management according to.

But the efficiency conducted a risk: the lean, far-flung supply chains left multinational companies vulnerable to shocks provide. And the shocks come, one after the other.

The 2001 terrorist attacks in New York and Washington froze global transport. The 2003 SARS outbreak production in South China down. In Iceland stopped air traffic in Europe the eruption of the volcano in the last year. And now a Japan disaster unfolds.

Fawcett says that companies begin to completely rethink the wisdom of supply chains that will have to cross oceans. In the middle of the 2000s, he says, some US companies started factories from China after Mexico. There, they could use still cheap labor without fighting with ocean crossings.

He says he suspects the trend - called "in the close sourcing" - more will become after the disaster in Japan popular.

Copyright 2011, the associated press. All rights reserved. This material may not be published, broadcast, rewritten or distributed.

Saturday, March 19

Japan stocks plunge on the first trading day after quake

BANGKOK - the Tokyo Stock market crashed waste to cities on the coast of Japan's Northeast Monday, his first business day after an earthquake and tsunami of epic proportions, caused tens of billions of dollars in damage. Other Asian markets were mostly down.

Oil prices dropped in the vicinity of $99 per barrel, after the disaster threatens the world's third largest economy in a recession, send demand for crude oil crimping. In currencies, the dollar against the yen and the euro fell.

The benchmark Nikkei 225 stock average dived 633.94 points or 6.18 percent, to close - 9,620.49 wipe out achievements in 2011 when the collision with the lowest level in four months. On Friday, including massive power deficiencies that could interfere with factories, a broad sell-off raised concerns about the economic effects of the disaster, which hit all sectors. The broader Topix index fell by 7.5 per cent.

Shares of several large corporations sell orders were overwhelmed with and had still trade. The Tokyo Electric Power Co. was set up under which, from double-digit fall, since it with to rollenden power outages in parts of Tokyo and its suburbs announce faulty nuclear reactors and a lack of power who fought the company led.

Do with nuclear power companies such as those that build nuclear power plants, registered staggering losses, including Hitachi Ltd., to 16.2 per cent, and Toshiba Corp., down 16.3 percent. Mitsubishi heavy industries fell by 10 percent and Kobe steel Ltd., fell 6.4 per cent.

Shares in other sectors was also big hits as investors shares on concerns about the economic production and consumption threw. Automakers slipped as Northeastern Japan one of the most important centres for automatic production is complete with a variety of suppliers and a network of roads and ports for the efficient distribution.

Large manufacturer stopped production around the country. Toyota Motor Corp., the world's largest automaker, fell 7.9 percent; Honda lost 6.5%; and Nissan fell 9.5 percent. Mitsubishi Motors Corp. lost 11.8% and Isuzu Motors Ltd. fell 9.2 percent.

Insurance companies - many of which face is severe claims for lost objects and infrastructure probably - was also sharp drops, including Tokio Marine Holdings Inc., by 12.4 percent. Cosmo oil, whose refinery of the 8, 9-brightness-quake, slipped by devastating 21.6 percent to fire since is.

Analysts said that the forecast for the Japanese economy in the close future strong whether it might depending on the affected nuclear power plant of avert Fukushima Dai-Ichi reactor of meltdowns to. Damage reported four nuclear plants in the north-eastern Japan, but the danger was greatest in the Dai-Ichi plant.

"All costings, economic and humanitarian, remain easy depending on the resolution of the difficulties on nuclear power facilities, where two reactors are believed, have experienced to partial meltdowns." Authorities have in the facilities, which lost to coolant earthquake replace sea water pumps and prevent so on meltdown. The degree to which this was successfully vague remains, "said analysts at DBS Bank Ltd., in Singapore in a report."

Meanwhile, the industrial and business rose on expectations that they benefit from Japan's reconstruction efforts. Japanese construction company Kajima Corporation rose by 22.2% and Nishimatsu construction co., Ltd. jumped 19.3 percent.

Quake death toll surges in Japan result that massive earthquake and tsunami increased the death toll from Friday Monday as some 2,000 bodies found were Miyagi, Kyodo news on both sides in the Agency reported. New explosion nuclear power plant increased fears Japan nuclear health risks is low, not blow in the overseas international rescue effort gathers in Japan Japan's earthquake: such as to show images help Japanese quake, identity Dateline NBC Keith Morrison presents a photographic essay emotional images hit, emerged from the aftermath of the earthquake of Japan and resonate with their national identity.  Japan earthquake aftershocks Quake since the first 8, 9-brightness, has Japan has been added by scores of aftershocks. See on this map. Pictures of chaos, destruction, 8, 9-magnitude quake, tsunami cause enormous damage.

Elsewhere, lost Hong Kong Hang Seng index 0.2 percent to 23,204.06 during South of Korea's Kospi by 0.8 per cent to 1,971.23. mainland China Shanghai composite index rose less than 0.1 per cent to 2,935.41. The Shenzhen composite index of China's Exchange smaller, second rose by 0.9 per cent to 1,310.99.

Shares in Taiwan, Singapore, Australia, New Zealand, and the Philippines were lower. Benchmarks in Indonesia and Thailand increased.

The Bank of Japan, earlier Monday, injected money markets to try to defend the already weak economy a record 15 trillion yen ($ 183,8 billion). By flooding the banking system with cash, money hopes the Central Bank further banks borrow and meet the increase probably demand after the earthquake Fund. A one day policy meeting of the Central Bank is to to stop later Monday.

On Wall Street on Friday finished stocks down in the week with modest gains. The Dow Jones industrial average gained 59.79 points, or 0.5 percent to 12,044.40. The S & P 500 rose 9.17 or 0.7 percent to 1,304.28. The NASDAQ Composite gained 14.59 or 0.5 percent to 2,715.61.

The prospect of a decline in demand for oil from Japan crude oil prices sent down $1.57, to $99.59 per barrel. In addition to the earthquake, oil prices fell for a scheduled day protests in Saudi Arabia drew only a few hundred people. Oil traders were worried the violence in the Middle East and North Africa to the world's number one oil exporter would spread.

Benchmark crude oil April delivery declined $1.79 at $99.37 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost $1.54 to $101.16 on Friday.

The yen emerged shortly after Friday quake, but then restored. The dollar was brought on Monday after hitting a three week high of 83.30 yen immediately after the earthquake lower against the yen to 82.07. euro $1.3933 $1.3890 late Friday.

Copyright 2011, the associated press. All rights reserved. This material may not be published, broadcast, rewritten or distributed.

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