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But even as authorities plowed money into the markets, traders and analysts said it was far from certain that the authorities would succeed in heading off the yen’s steady climb.

The government plunged into the market Thursday morning via the Bank of Japan, causing the yen to drop against other key currencies. The dollar quickly jumped to ¥78.20 from ¥77.13 and the euro rose to ¥111.80 from ¥110.72.

To underscore its conviction, the government continued selling yen through the day, pushing the dollar to ¥79.48. Mid-afternoon Thursday in Asia, the dollar was at ¥79.44.

Finance Minister Yoshihiko Noda said at a hastily called news conference the measure was meant to stop speculative, excessive yen moves.

On Tuesday, the Treasury had to add more than $200 billion of commitments immediately after President Barack Obama signed into law an increase in the debt ceiling.

The liabilities had been temporarily taken off the federal government’s balance sheet since May 16, when the Treasury reached the $14.29 trillion official cap.

It then used extraordinary measures to remain under the legal limit while deeply polarized Republicans and Democrats battled over raising the debt ceiling and reining in the country’s massive deficit.

He said the Chinese Government encouraged Chinese companies to invest globally and there was a great deal of confidence in the New Zealand system and people.

He said that there was a minority of xenophobes in New Zealand who were”reasonably fearful” of any Chinese investments regardless of what kind of enterprise, how much capital was involved, or what the benefit was to the local community.

At a single address in this sleepy city of 60,000 people, more than 2,000 companies are registered. The building, 2710 Thomes Avenue, isn’t a shimmering skyscraper filled with A-list corporations. It’s a 1,700-square-foot brick house with a manicured lawn, a few blocks from the State Capitol.

Neighbors say they see little activity there besides regular mail deliveries and a woman who steps outside for smoke breaks. Inside, however, the walls of the main room are covered floor to ceiling with numbered mailboxes labeled as corporate “suites.” A bulky copy machine sits in the kitchen. In the living room, a woman in a headset answers calls and sorts bushels of mail.

A Reuters investigation has found the house at 2710 Thomes Avenue serves as a little Cayman Island on the Great Plains. It is the headquarters for Wyoming Corporate Services, a business-incorporation specialist that establishes firms which can be used as “shell” companies, paper entities able to hide assets.

Wyoming Corporate Services will help clients create a company, and more: set up a bank account for it; add a lawyer as a corporate director to invoke attorney-client privilege; even appoint stand-in directors and officers as high as CEO. Among its offerings is a variety of shell known as a “shelf” company, which comes with years of regulatory filings behind it, lending a greater feeling of solidity.

“A corporation is a legal person created by state statute that can be used as a fall guy, a servant, a good friend or a decoy,” the company’s website boasts. “A person you control… yet cannot be held accountable for its actions. Imagine the possibilities!”

Among the entities registered at 2710 Thomes, Reuters found, is a shelf company sheltering real-estate assets controlled by a jailed former prime minister of Ukraine, according to allegations made by a political rival in a federal court in California.

The three-month euribor/OIS spread, the fear gauge of credit markets, reached the highest level in two years today, jumping 7 basis points to 40 in wild trading.

“Europe’s money markets are undoubtedly starting to freeze up,” said Marc Ostwald from Monument Securites.

The Treasury Department says it will sell 3-year notes, 10-year notes and 30-year bonds to raise the money. About one-third will go to repay debts that are due on Aug. 15.

President Barack Obama cleared the way for the auction on Tuesday when he signed into a law a bill that raises the debt ceiling and promises more than $2 trillion in cuts to government spending over the next decade.

Improperly applied pesticides repeatedly drift over from neighboring farms, often with dire consequences for Johnson. But now, thanks to a new court ruling, he and other farmers can sue to recover their losses.

Letting damaging chemicals cross property lines is trespassing, the Minnesota Court of Appeals ruled on Monday. Moreover, since those pesticides made his crop unsalable in the organic market, Johnson is entitled to damages from the company that applied it, the Paynesville Farmers Union Cooperative Oil Co., the court said.

The utility known as Tepco said yesterday it detected 5 sieverts of radiation per hour in the No. 1 reactor building. On Aug. 1 in another area it recorded radiation of 10 sieverts per hour, enough to kill a person “within a few weeks” after a single exposure, according to the World Nuclear Association.

Radiation has impeded attempts to replace cooling systems to bring three melted reactors and four damaged spent fuel ponds under control after a tsunami on March 11 crippled the plant. The latest reading was taken on the second floor of the No. 1 reactor building and will stop workers entering the area.

“It’s probably the first of many more to come,” said Michael Friedlander, who spent 13 years operating nuclear power plants in the U.S., including the Crystal River Station in Florida. “Although I am not surprised, it concerns me greatly; the issue is the worker safety.”

Declaring their currency “massively overvalued,” the Swiss National Bank cut its key interest rate target, and said it would raise the supply of liquidity to the Swiss franc money market in the next few days in a bid to weaken the franc.

An avalanche of dollars and euros has been tumbling into this Alpine outpost at record rates, as investors see the franc as a haven from the twin debt crises in the United States and Europe. But its resulting strength risks undermining economic growth in Switzerland and stoking inflation, the central bank said.

South Korea became the latest government to disclose a big bullion purchase, saying Tuesday that it recently bought 25 metric tons – more than doubling its holdings to 39 metric tons. Mexico, Russia and Thailand have also been major buyers in 2011.

This year, governments have almost tripled their net gold purchases, increasing their holdings by 203.5 metric tons this year, up from a 76-metric ton rise last year, according to the World Gold Council, an industry group backed by miners.