Japan barely improves nuclear regulatory system

FUKUSHIMA, Japan (AP) -- Right after three reactors in northeastern Japan sank into meltdowns, the government vowed to crack down on the cozy relations between the nuclear industry and its regulators. One year later, it has yet to even appoint committee members to scrutinize the "revolving door" of officials landing jobs in the very industries they regulate....

SLOW TO ACT: One year after three reactors melted down, the Japanese government has not appointed committee members to scrutinize officials landing jobs in the industries they regulate.

By Tom Lydon: Nuclear energy-related exchange traded funds are powering back up. The nuclear industry is witnessing a revival in the U.S. as regulators start approving new construction permits after a three-decade gap. Market Vectors Nuclear Energy (NLR) is up 11.0% year-to-date.

General Electric defended its 40 year old Mark 1 reactors at the center of Japan's nuclear crisis Friday, saying that early questions about reactor's safety had long been addressed.GE rejected recent reports of possible design weaknesses in the Mark 1, which accounts for five of the six reactors at the Fukushima plant, threatened with meltdowns after cooling systems failed."The Mark I meets all regulatory requirements and has performed well for over 40 years," it said in a statement.