Take stock – June 18

President Barack Obama intends to nominate former Ohio Attorney General Richard Cordray to a new consumer financial protection bureau that was a central feature of a law that overhauled banking regulations.

Ohio AG to head consumer agency

WASHINGTON — President Barack Obama intends to nominate former Ohio Attorney General Richard Cordray to a new consumer financial protection bureau that was a central feature of a law that overhauled banking regulations. Obama bypassed Elizabeth Warren, a favourite of consumer groups, who has been assembling the agency as a special adviser to the White House and to Treasury Secretary Timothy Geithner.


Meat safety worries spread in Japan

TOKYO — Concerns about radiation-tainted beef intensified Sunday in Japan as officials struggled to determine the scope of the problem and prevent further contamination of the meat supply.

The government prepared to suspend cattle shipments from Fukushima amid a growing tally of cows that fed on rice straw containing high levels of radioactive cesium.

The straw was harvested from rice paddies in the prefecture (state) after the March 11 earthquake and tsunami triggered the release of radiation from the Fukushima Dai-ichi nuclear power plant. Distributors nationwide bought meat from the exposed cows, and some has already reached consumers.