JAPAN

The yen edged off a record high against the dollar on Thursday ahead of a conference call by Group of Seven finance ministers on fears officials may soon intervene to rein in the currency's rapid rise.

People.com is reporting that actress Sandra Bullock donated $1 million to the American Red Cross to help with the earthquake and tsunami relief efforts in Japan.

A number of Japanese companies have reported disruptions to their supply chains in the wake of the the earthquake there.

The following is a White House transcript of remarks by President Barack Obama on the situation in Japan delivered from the Rose Garden at the White House on Thursday March 17, 2011.

President Barack Obama made a visit to the Japanese embassy in Washington D.C. on Thursday, an unannounced arrival meant to show how heartbroken America was over the tragedy Japan faces in the wake of a massive earthquake and tsunami which have killed thousands of people and triggered a nuclear crisis.

Japanese engineers have been able to lay an external grid power line cable to the No. 2 unit at the crippled Fukushima nuclear power plant in northeastern Japan, according to The International Atomic Energy Agency (IAEA), the United Nations’ nuclear watchdog.

Japan is expected to step into the currency markets to curb the yen's surge to record highs against the dollar and has a better chance of success if it wins the blessing of the Group of Seven industrial nations.

Mizuho Financial Group Inc, Japan’s third-largest bank by market value, said it has restored its automated teller machine (ATM) service nationwide, following three days of system failures. Its internet service was also on the fritz.

The world likely witnessed a “speculative attack” against the Japanese yen late Wednesday

U.S. officials in Japan will pay for the voluntary departure of any family members of diplomat at several locations in the country, amid growing concerns about radiation from a troubled nuclear plant in Fukushima, Japan.

The International Atomic Energy Agency (IAEA) described the situation at the Fukushima nuclear power plant as very serious, but that it appears to have become stable.

Mobile phone maker Sony Ericsson said on Thursday the massive earthquake and tsunami in Japan would disrupt its supply chain and that it was looking at measures to compensate.

Stocks gained on Thursday, bouncing back after three days of declines as investors searched for bargains, but the near-term outlook is bearish as Japan's crisis keeps investors cautious.

Tokyo Electric Power Co. (TEPCO), the operator of the troubled nuclear power plants in northeastern Japan, said that high-pressure streams of water shot Thursday evening by plant workers effectively cooled down an overheating spent fuel pool.

FedEx Corp, the No. 2 package delivery company, sees improving revenue and profit this quarter and beyond, even as fuel prices mount, and shares of the economic bellwether rose more than 4 percent.

Regulators probing alleged manipulation of Libor rates, the benchmark for interbank borrowing costs, are focusing on five lenders, a person familiar with the matter said on Thursday.

Industrial conglomerate 3M Co said on Thursday all 2,700 employees in its majority-owned Japan joint venture are safe and its facilities suffered only minor damage, and it is ramping up production of safety-related products.

Foreign missions in Tokyo have pressed the alarm button and asked their citizens living in the vicinity of Tohoku Daiichi nuclear plant to stay clear while some of them are planning evacuation of their citizens from Japan, if required.

U.S. stocks advanced on Thursday, bouncing back after three days of declines as investors searched for bargains, but the near-term outlook remains bearish.

Fear that Japan may soon intervene to weaken the yen after it hit a record high against the dollar left currency traders skittish on Thursday, and the market may start trimming yen longs as a G7 meeting nears.

Japan dismissed the need for joint action to curb the soaring yen ahead of a conference call of G7 finance ministers and sources said the group of rich nations was more likely to offer general pledges of solidarity as Tokyo struggles to contain a nuclear crisis.