Spend Matters Afternoon Coffee

Tepco Loss Widens to $7.4 Billion on Nuclear Crisis -- Tokyo Electric Power Co. reported Tuesday a $7.35 billion net loss for its fiscal first quarter, with red ink surging on higher fuel and compensation costs as the utility continues to grapple with the Fukushima Daiichi nuclear disaster. The operator of the crippled nuclear-power plant booked a net loss of ¥571.76 billion ($7.35 billion) for the three months ended June 30, compared with a year-earlier loss of ¥5.45 billion. In May, the company reported a loss of ¥1.247 trillion for the 12 months ended in March.

Infographic of the day.
Standard & Poor's Credit Rating for each country

A literary thief!
Mark Twain House employee embezzled $1 million -- According to court documents, Gregor submitted false information over the Internet to the Mark Twain House payroll vendor between 2002 and 2010. The misinformation allowed additional pay to which she was not entitled to be deposited into her bank account, classified as payroll advances.

Commodities rising.
Corn, Wheat Swap Roles as Prices Surge -- In a reversal of historic patterns, the price of corn is higher than wheat, an anomaly that is upending commodities-trading strategies and changing what poultry producers feed their chickens. Tyson Foods Inc. and Pilgrim's Pride Corp., which together process 3.7 billion chickens a year, have begun sprinkling wheat into chicken feed, traditionally a corn-based concoction. Livestock and ethanol producers also are turning to wheat as a supplement to corn.

- Sheena Moore

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