The power company behind Japan’s nuclear crisis is seeking another $22 billion from a state-backed fund to avoid insolvency as the cost of compensation and stabilizing damaged reactors swells.

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Japan nuke operator seeks more public funds
The power company behind Japan’s nuclear crisis is seeking another $22 billion from a state-backed fund to avoid insolvency as the cost of compensation and stabilizing damaged reactors swells.

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Japan nuke operator seeks more public funds
Reuters – Four months after one of Japan’s biggest corporate scandals, police and prosecutors on Thursday arrested seven men, including a former Olympus Corp president and ex-bankers, over their role in a $1.7 billion accounting fraud at the medical equipment and camera maker.
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Former executives, bankers arrested over Olympus fraud
(Reuters)
Reuters – An unofficial panel of experts cleared global accounting groups KPMG and Ernst & Young of any responsibility for a $1.7 billion accounting fraud at Japan’s Olympus Corp on Tuesday, though the role of the firms remained under official review.
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Panel clears audit firms of Olympus scandal blame
(Reuters)
Reuters – U.S. Vice President Joe Biden visited Japan’s quake-hit northeast on Tuesday and said the country would recover from the disaster just as the United States would overcome its debt crisis, warning doubters not to count the two countries out.

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Don’t count U.S., Japan out, Biden tells the world (Reuters)
Reuters – Prime Minister Naoto Kan on Saturday took his campaign against nuclear energy in Japan to Hiroshima which 66 years ago became the world’s first victim of an atomic bomb.

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Japan PM Naoto Kan brings his nuclear-free vision to Hiroshima (Reuters)
AP – Prime Minister Naoto Kan, facing a no-confidence vote in parliament, said Thursday he will consider resigning once Japan’s efforts to recover from its earthquake and tsunami disaster take firm hold.
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Japan’s PM under pressure to resign over crisis (AP)
Reuters – Tokyo Electric Power has restored the cooling system of the nuclear reactor and fuel pool at the No. 5 unit of the crippled Fukushima Daiichi power plant in northeastern Japan, an official of the plant operator said on Sunday.

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Cooling system restored at Tepco’s No.5 plant (Reuters)
AP – A Japanese power company postponed its decision Saturday on a government request that it halt three reactors at a coastal nuclear plant until safety measures can be improved to guard against future earthquakes and tsunamis.

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Japan utility delays decision on halting reactors (AP)
AFP – Japan on Friday announced a $49 billion special budget for areas devastated by last month’s quake and tsunami and said it would extend an evacuation zone around a nuclear plant crippled by the disaster.

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Japan announces $49 bn quake budget (AFP)
Reuters – Japan called on the world not to impose “unjustifiable” import curbs on its goods as French President Nicolas Sarkozy was due to arrive on Thursday, the first leader to visit since an earthquake and tsunami damaged a nuclear plant, sparking the worst nuclear crisis since Chernobyl in 1986.

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Japan urges calm over food export fears (Reuters)