the report says a disputed island in the sea of japan is japan's territory. it's called takeshima in japan and tokedo in south korea. every year south korea contests japan's claims. some officials fear south korea may lodge a stronger protest over the disputed island if japan releases its defense paper before the centenary of japan's annexation of korea on august 29th. the government won't remove the description on the island but tuesday decided to delay the approval of the annual report until september. it was due to be submitted to the cabinet on friday. >>> china has held a large-scale military drill near the yellow sea to the west of the korean peninsula. the drill is seen as a move to check the united states and south korea, which are conducting a joint military exercise on the opposite side of the peninsula. china's central television reported on tuesday that the nanjing military region's strategic missile unit held a live ammunition drill using long-range rockets on sunday. it said the drill was held near the yellow sea. cctv said it was the first such

in the sea of japan and the yellow sea. >>> u.s. president barack obama has signed a bill to give the government new regulatory powers over financial institutions. it's the biggest overhaul of financial rules since the great depression in the 1930s. obama put the bill into law on wednesday. he wants to avoid a repeat of the global economic crisis triggered by the 2008 collapse of u.s. investment bank lehman brothers. the controversial bill took more than a year for the congress to pass it. >> because of this law the american people will never again be asked to foot the bill for wall street's mistakes. >> but obama added the economy still needs fixing and urged his colleagues to work tirelessly for the legislation to take hold. the new regulations include a uniform oversight of the financial industry, bringing major investment banks and insurance firms under the watch of the authorities. the legislation will also create a new federal agency to protect consumers who purchase complex financial products. >>> and that wraps up this editi

the operator is to report its findings to japan's transport ministry. a company official has told nhk it is unlikely that the large-scale tanker could have suffered an explosion on its own accord. >>> july 27th marked the start of the two-year countdown to the opening of the london olympic games against the backdrop of the european debt crisis. so how are the preparations going? our reporter craig thompson from london has the details. >> reporter: the olympic flag passed from beijing to london two years ago. china felt its prestige was at stake when beijing hosted a lavish olympics. in contrast, london is planning a smaller, less extravagant event. compact is now the key word. construction at the olympic park begun two years ago. shortly afterwards, the collapse of lehman brothers hit the world. the ensuing debt crisis has created a very difficult financial climate. >> this country cannot afford it, no. >> from what i know, the olympics are never a money maker. so it's usually a loss. >> reporter: the british government is allocating about $13 billion f

the current earnings season said to peak friday on japan. on the tokyo foreign exchange, the dollar falling against the yen on tuesday morning. the greenback at 86.92-96. market sources say that the dollar is depreciating as uncertainty for the u.s. economy remains strong among investors. concerns over european financial institutions receded, cueing investors to buy back the euro. this contributed to the weakening of the dollar. the euro is changing hands at 113.13-18. and here's a look at the latest long-term interest rates. this is the yield on the benchmark ten-year japanese government bond. the hang seng opened 0.4%. the blue chips are down 0.8%, coming closer to the 6,000 level. and the sse composite is down 0.32%. >>> new home sales in the united states rebounded sharply in june from a record low in the previous month. the u.s. department of commerce said on monday that 330,000 newly constructed homes were sold in june. that's up 23.6% in annualized terms. and the largest month to month growth in 30 years. sales in may plunged sharply

at a resort town in central japan. taguchi's son spoke to reporters after the meeting and read out a message that kim wrote in his diary. >> translator: kim wrote me a message. "beloved son, your mother will return. please hold on with hope and courage, looking forward to the day when all of us can meet together." >> kim reportedly told yokota's parents that she had met their daughter once but had no other information. >> translator: kim didn't know anything about the things we most wanted to hear about megumi. we were disappointed. but she encouraged us by saying megumi must still be alive. >> kim traveled to tokyo on thursday to meet other family members of kidnap victims. the families showed kim the photos of their missing relatives, but she reportedly said that she had never met any of them. however, the families said they were heartened to meet her and hope her visit to japan will contribute to resolving the issue. kim was sentenced to death in south korea for the 1987 bombing of a south korean jetliner. she was l

in japan, 95% is consumed in japan. however, that is a debt futures -- a debt to future generations. this cannot be continued. that is why the prime minister has said this cannot be continued. we have to change the tide. we are aiming at reducing the primary balance deficit to half. -- to half what it is now by 2015. and his philosophy is that by meeting challenges, such as environmenta, with the countries in asia and the need to create jobs there are local, you can create jobs and growth. that is what we should be doing squarely. also in japan now streamline the government budget and try to cut off the unnecessary budget. i agree it is important to do that. of the same time we have to remember that unassertive budget is not the same as low-budget. for example, exchanges we have with this country. these exchanges are very important. the second economic issue is how to keep a technological lead. it is easy to say, but not easy to keep as well. about 35% altogether of foreign manufacturing is automobile and electronics.

star" was heading from the united arab emirates to japan. the firm says the blast caused a huge dent in the tanker's starboard stern and a minor injury to one crew member. the photos show damage to doors, the ceiling, and walls of the cabin closest to the stern as well as window frames leaning against tables and shattered glass in the ship's dining hall. mitsui o.s.k. says the explosion could not have happened inside the tanker, as all damaged objects were blown in from the outside. it also says neither gas nor fires were used in the dining hall. the firm says the tanker may have been attacked. officials from the firm are inspecting the damage with u.s. and british military experts. u.s. assistant secretary of state philip crowley told reporters on wednesday that the u.s. had no information at this point that suggests the tanker was indeed attacked. >>> meanwhile, port authorities in the united arab emirates showed to the media the japanese oil tanker that was damaged on thursday. the vessel is currently docked at fujairah port in the uae. i

he cautioned japan against following suit, noting japan has never before followed the example of the united states in imposing sanctions on iran. >>> a tulg muhammad ten meter ship hull has been found six meters below street level. the ship and other debris were probably used as landfill to extend lower manhattan into the hudson river. >> it was apparently somewhat common to sink ships in landfill as people were building land further out into the hudson river and the east river. but only a happenedfndful of th ships have been found. so it's really quite rare. >> based on the expert's conclusions, the new york authorities will consider preserving the ship as an historic artifact. >>> it's day six in the sumo tournament. let's look at the action from day six. hakuho is at the center. hakuba is finding it tough. they move forward and that's it. that's all that is needed as hakuba is out. 38 consecutive wins for hakuho. in earlier action on day six, most of the interest was with the two that were undefeated after five days. kotiyoshi was runner up last year. starting strong and seizes a

in matsue city, western japan, shortly before 2:00 a.m. on friday, a landslide propelled huge rocks into a house. three people were trapped inside, including two elementary school children. police and firefighters used heavy equipment to mount a rescue. shortly after 5:00 a.m., they pulled an 11-year-old girl from the house. the police say the girl has an injured leg but is conscious. two four-meter rocks smashed through the roof of the two-story house. police and firefighters are continuing efforts to save the mother and son, who are still inside. weather officials say localized downpours could hit west to northeastern japan through friday afternoon. they're calling for caution against mudslides. >>> now, in business news, u.s. investment bank goldman sachs has settled fraud charges, but it came at a record cost. ines matsuyama has the details in a look of the latest market-moving headlines. >> thank you very much, catherine. >>> goldman sachs has agreed to pay $550 million in fines to settle fraud charges by the u.s. securities and excha

japan again. she says she wants to help the relatives of japanese abductees to resolve the abduction issue. the minister in charge of the abduction issue said her visit gave families more hope concerning the fate of their loved ones. the minister spoke to reporters on friday. >> he added that the visit sent a strong message around the world that japan will not tolerate the abductions and is determined to cooperate with south korea to fully shed light on them. >> she met the families of the abductees and told them to keep up their hopes about their loved ones. the meeting lasted less than one hour. each agent was paired with an abductee to receive training at a special facility and meetings with other abductees was basically prohibited. kim went on to say that she remained silent for fear of posing migami harm. she did i sided to tell everything that she knew. kim promised to cook a meal for a man and when they met again this week, she kept her promise. the japanese government says there is informa

in japan. at the same time, we have to remember that the necessary budget is not in its -- it is not a synonym for quick results. we have a chip program with this country. with this city, we have cherry blossoms. we don't have a budget for that, but the long-term exchanges are very important. just as a footnote, i would add my view of that. the second economic issue that we're facing is had to keep its technological lead. that is much easier to keep as well. about 35% of our manufacturing is electronics. this will continue to be an important pillar of japanese industry. japanese companies have a lead in some areas. for example, in lcd, japanese companies have 60% share. in semiconductor components, we have some effect% share. we have 80% share in nuclear power plants as well. you have to always be engaged in production, manufacturing. since there are many areas in which in japan and the u.s. can cooperate, i will just to name some. one is energy efficiency. as you know, japan is the most energy

but, yeah, it's up to japan. they should just get out of there and we won't be there either. >> larry: thanks for that, laurens. what have you got in front of you there, fiona? >> one of the pieces of the "ady gil," one of the last remaining pieces. obviously this boat was sunk, it sunk shortly after it was rammed into by one of the harpoon boats. very nearly killed six men. so anyway, we lost the boat. but, yeah, we didn't have any injuries. >> larry: do you have a suit you wear? >> i do. one of the mustang suits. normally in the waters down there, it's so frigid, that after two or three minutes, you would be hypothermic and ha no chance of survival. with these you get 20, 30 minutes. plenty of time for a recovery. >> larry: what is that? in front? >> a net. sea shepherd has been active not only about whales, seals, doll fins, but also about fishing. we just had a campaign in the mediterranean released 800 tuna. this just shows. you can see how tangled this. i mean, seals, whales, dolphins, sharks, swordfish, al

yeah, japan, iceland, norway will continue illegal whaling. >> larry: not allowed, done. japan slammed the sea shepherd during the iwc gathering saying the attacks are becoming more aggressive. are they? >> what they mean they're becoming more effective. we saved 528 whales this last season which is more than they killed. we have lost them tens of millions of dollars in losses. we understand that the best way to stop them is hit them where it hurts. economically. our objective is to sink the fleet economically. we haven't injured any of them. we are at a disadvantage. they're trying to kill us out there, we're trying to make sure we don't injure any of them. >> larry: is their defense, chuck, their defense, these are whales. we are making a living. how are we different than fishermen? >> well -- >> larry: fishermen kill fish. >> the fact is fishing is not illegal. sea shepherd enforces international conservation laws. the actions that japan is taking down there are illegal. >> larry: is it because we emotionally feel different about the whale than the fish? >> if we can't

but, yeah, it's up to japan. they should just get out of there and we won't be there either. >> larry: thanks for that, laurens. what have you got, fiona? >> one of the pieces of the ady gil, one of the last remaining pieces. obviously this boat was sunk, sunk after it was rammed into by one of the harpoon boats. nearly killed six men. so anyway, we lost the boat. but, yeah, we didn't have any injuries. >> larry: do you have the suit you wear? >> i do. one of the mustang suits. normally in the waters down there it's so frigid that after two or three minutes you'd be hype thermic and have no chance of survival. with these you get 20, 30 minut minutes. plenty of time for a recovery. >> larry: what is that? in front? >> a net. sea shepherd has been active not only about whales, seals, dolphins and fishing. we just had a campaign in the mediterranean released 800 tuna. this just shows. you can see how tangled this. i mean, seals, whales, dolphins, sharks, swordfish, all kind of what they call bi catch, or extra produ

but, yeah it is up to japan. sh they should get out of there the we won't be there either. >> larry: thanks for that, laurens. what have you got, fiona? >> one of the pieces of the ady gil, one of the last remaining pieces. this boat was sunk, sunk after it was rammed into by one of the harpoon boats. nearly killed six men. so any way we lost the boat. but, yeah, we didn't have any injuries. >> larry: do you have the suit you wear? haw haw i >> i do. one of the mustang suits. normally in the walters down the there, you get 20,30 minutes. plenty of time for a recovery. >> larry: what is that? in front? >> a net. sea shepherd has been active not only about whales, seals, dolphins and fishing. we just had a campaign in the mediterranean, released 4 tuna. this just shows. you can see how tangled this. i mean, seals, whales, dolphins, sharks, swordfish, all kind of what they call bicatch, or extra products. >> larry: bonus. >> horrendous. like clear cutting the ocean. >> larry: do they have feelings for the fish that

so japan is facing many challenges as well. there are changes. there are some things that look like change but not really change as well. what we have to be doing is identify what is the real change and we have to decide how to cope with it.

from here to japan, his acclaimed sisters, maximoto premiered in 2005. in the last couple years he worked with camposanto on a fist of roses on male violence and an orchestral composition. many of his plays are collected in month more cherry blossoms published by washington press. among his awards are the civil liberties public education fund and lila wallace reader's digest award. phillip is also a respected independent film maker whose film recently premiered at sundance, but we're here to talk about his upcoming production, after the war. a jazz-infused drama set in post-war san francisco japan town in 1948 which chronicles the return of japanese americans into the internment -- from the internment camp. sharing this evening is chloe veltman. chloe was born in london and received a master's degree with distinction in conjunction with harvard university and the moscow art theater school. she has worked as a staff reporter for the daily telegraph and is a freelance writer, her articles appearing on both sides of the atlantic. she is the chief theater cr

at the meeting japan and the u.s. will propose setting up joint government and industry task forces to develop energy-saving initiative for sectors including steel and electricity. other nations are expected to suggest promoting electricity vehicles and energy-saving appliances. a call to create an international standard for the so-called next generation smart grid electricity networks will also be discussed. japanese representative said the meeting is significant because talks on combatting global warming are not progressing. >> translator: china, india and brazil are taking heart, so we hope to take the initiative and make progress in this field. >>> u.s. airplane maker boeing unveiled the 787 dreamliner to the media at an air show near london. about 1,400 companies from 38 countries are taking part in the farmboro international air show that opened monday. the boeing 787 will consume 20% less fuel than the predecessor thanks to its lighter fuselage and wings matter of lighter composite materials. the mid-size airpl

japan stays largely in the dry although the northern end of hokkaido as well as on the southern side too, the islands here, could pick up a little more rain. it's also going to be quite hot across the country. we've been dealing with quite a bit of severe heat this week. looks like that will continue wednesday as well as into a lot of the next few days. 35 degrees for tokyo. elsewhere we're going to see temperatures really start approaching 40 degrees celsius. very, very hot conditions. definitely take precautions if you are going to be out and about. over toward europe today, and we're looking at rain moving in from the west. already pretty wet for the brit at showers and some windy weather as well. similar conditions affecting the scandinavian peninsula too. and then we're going to see this low move up from the iberian peninsula. and rain is going to spread through western europe. that will be a nice change, hopefully breaking down the heat a little bit more. france as well as the low countries looking to get welt, but it will stay largely dry for central europe and just a few scat

mural madness is flourishing in paddies across japan. in the end, art made from rice can't last forever as harvest wipes the field clean. but for now, rice, a staple of japan's cuisine, fills the stomach as well as the soul. celia hatton in inakadate village, northern japan. >> that's quite a sight. >>> this is the "cbs morning news" for thursday. thanks for watching. hope you'll join us later for "the early show." i'm betty nguyen. "the early show." i'm betty nguyen. have a great day. -- captions by vitac -- www.vitac.com >>> your realtime captioner is linda marie macdonald. caption colorado, l.l.c. >>> good morning. it's thursday, the 29th of july, furlough fridays are

mural madness is flourishing in paddies across japan. in the end art made from rice can't last forever, the harvest wipes the fields clean. but for now rice, the staple of japan's cuisine, fills the stomach as well as the soul. celia hatton in northern japan. >> couric: so cool. and that is the "cbs evening news" for tonight. i'm katie couric. thank you for watching. i'll see you tomorrow. good night. captioning sponsored by cbs ca d by media access group at wgbh access.wgbh.org you're rung up at the cash register. >>> the latest bay area city hoping to wring more money out of its residents. concord, just about every time you're rung up at the cash register. >>> an agency supposed to collect money from the state doing a lot of spending. how a rented building sitting empty and a $93,000 for coffee?? >>> and a wild scene at the state fair. unfortunately, the tranquilizer gun wasn't enough. good evening, i'm dana king. >> i'm allen martin. the news starts now. >>> your realtime captioner is linda marie macdonald. caption colorado, l.l.c. co

why she is visiting japan. the warning that this activity could live up to its grim name, it is called >> hello and welcome. -an army recruit has turned up n foreigners, this time in two american civilians were shot dead at a training base in afghanistan. on an afghan soldier and a suspected gunmen were also killed. this is the second incident in as many weeks and it comes as representatives of from 70 countries descended on the capital to discuss the future of the country. the president of hamid karzai says that he would like afghan troops to take over total responsibility. >> he is the president of the nation at war but he has been accused of presiding over a cop and sissy -- over incompetency and corruption. now he is being touted as a man who can turn this around. more than 70 representatives came to give him their backing. he has pledged that his troops will take over from foreign forces in 2014. this is welcome news for many. >> the aim of the whole international community here are the afghan national sec

japan's nikkei lost almost 2.5% while hong kong's hang seng was also lower. today wall street get the latest on inflation. thursday a seven day winning streak came to an end. the dow lost seven points while the nasdaq was down a fraction. >>> wall street powerhouse goldman sachs will pay $500,000. to settle charges it defrauded. it's the biggest penalty ever levied by the s.e.c. in the settlement goldman neither admits or denies it committed fraud but failed to disclose vital information to its clients. the fine includes $250 million to compensate harmed investors. goldman will write another $300 million check to the united states treasury. now, it may sound like a lot of money, but it amounts to a little more than two weeks of net income for the firm. and getting it over with is good for business. by the end of trading day yesterday, goldman stock was up more than 5%. >>> the eyes of the tech world will be focused on apple as they hold a news conference. while apple execs have not said what it will be about, they are expected to address complaints the latest

i'm still in japan. wow i'm lucky. and there's a place to the temple gate. oh, it's my neighborhood. very lucky. so, where is the five story building. there's the point and this is the main hall and there it is. i'm on the top of the story, tabernacle. i'm in trouble. how am i going to get down. what's that? where? on the top of the temple? it's a bird. no. i don't think so. i think it's a man. [laughing] no one could climb up - climb - up. [singing] something is happening in the temple. whoa what's that. i think it's a performer. i think it's a man. man! what's he doing up there? i don't know but he must be in trouble. let's help him but we don't have a ladder. okay. so, somebody, let's bring this across with a big blanket to catch him with. let's help him, hurry up. bring something. there are so many people down there. is it the kind of festival today? i don't know. a big cloth. what's that for? they are shouting but i can't hear anything. louder there, please? what? jump? jump from here? whoa they are telling me to jump? they are going to catch me with th

wayward and misguided steps with urban renewal and redevelopment blessed by the city had allowed in japan town. i vowed it would never happen again. i made that clear because it was important for people to realize in the community itself with the fillmore and the western division as well as citiwide, just what a fine distinction it is to live under redevelopment law. you ask many san franciscoans as the a2 project area or people even outside and they would not be able to explain to you very well that they're actually parallel governments that exist in san francisco as it applies to land use considerations. and because of those planned use considerations, there were consequences that i think provided both for positive and negative experience in the fillmore. it would demean anybody in japan town or anybody who has gone through it one time or another redevelopment in history and not share any of the lessons learned in this particular project that's before us. what i found pretty amazing was that over the few years leading up to this particular stage when people would say to me, don't worry,

why she is now visiting japan. and the warnings here in britain that this fast-growing activity could live up to its grim name. an afghan army recruit has again turned on foreigners. this time, two american civilians were shot dead at a training base in northern afghanistan. an afghan soldier and the suspected gunman were also killed. it is the second such incident in as many weeks and comes just as representatives of 70 countries descended on kabul to the skies the country's future. president karzai told the conference that he wants afghan forces to take control of total security for the country by the end of 2013. >> he is the president of a nation at war, buddy has been accused of presiding over incompetency and corruption. now, he is quoted as the man who can turn things around. today, more than 70 nations came to kabul to give him that backing. in return, he promised to take control of security in just four years, repeating a pledge that his troops will take over for foreign forces in 2014. welcome news for ma

america currently has twenty eight thousand troops based in south korea and fifty thousand more in japan and then it petroff lecture on korean studies at sydney university believes washington's actions on provoking pyongyang north korea never threatens first north korea the small distant you for impoverished struggling pariah state so believe that for north korea simply reacts or sometimes over reacts to the threats which comes from outside if united states decides to go ahead and execute an invasion or regime change i would be surprised if you're at some stage decided to use nuclear capability nuclear deterrence against whatever enemy is closest to solve grizz going to be the first victim of the. another standoff with a nuclear pretext is that between israel and the valley you know next hour that's when british journalist alan hot explains why tehran never strike first. let's just supposing iran had one to three dozen nuclear bombs do you think you would be stupid enough to launch a first nuclear strike on israel of course it would because the whole of the round would be devastated the

america currently has twenty eight thousand troops based in south korea and fifty thousand more in japan and then they'd patrol on korean studies at sydney university believes that interactions are provoking pyongyang. north korea never threatens first north korea the small distant you for impoverished struggling pariah state so believe that north korea simply reacts for some time over reacts to the threats which comes from outside if united states decides to go execute an invasion or regime change or i would be surprised. at some stage decided to use nuclear capability nuclear deterrence against whatever enemy is closest to solve grue is going to be the first victim of the. another standoff for the nuclear pretext is that between israel and iran in about twenty minutes veteran british journalist i don't hot explains why tyrone would never strike first. just supposing that iran had one two three dozen nuclear bombs do you think he broke would be stupid enough to launch a first nuclear strike on israel of course he would because the whole of the run would be devastated the real reason why

just 18 years old, weighing 115 pounds and hailing from japan-- oh, and she throws a very rare pitch. john blackstone introduces us to a minor leaguer causing a major stir. >> reporter: on the mound for the chico, california, outlaws, knuckleball pitcher eri yoshida has already made baseball history-- the only one now playing professional baseball against men. >> you don't notice that she's five foot nothing, 120 pounds, she just fits in so well. >> reporter: in the dugout she seems to be just one of the guys. but the 18-year-old who arrived from japan just a few months ago is crossing barriers of culture, gender, tradition, and language- - still struggling to learn english. >> very difficult. >> reporter: it's very difficult? >> yes! >> reporter: but baseball comes easy. >> that side arm, i'll tell you, that thing is awesome! >> reporter: though other players tower over her, on the mound the knuckleball is a big equalizer. >> so i thought maybe this is the way that i can compete with men if i can master it. >> the knuckleball's not really about power, it's about precision. >> reporte

slowing down now and at the same time on the other side of the world china has officially overcome japan and become the world's second largest economy so good this we proof that this is no ordinary recession and that the u.s. is taking a serious downward turn we're here to tell us what it all means so what we should expect is r t correspondent lauren lyster laurent now analysts were predicting the growth to slow a little bit from the first quarter this year but no one thought it would be this bad so what are some of the actors that contributed to that well we've seen a softening of consumer spending we've seen a trade balance that's gotten worse and what a lot of economists that i spoke to say is what we're seeing is the result of bad policy of not enough stimulus coming from washington and the fed that's been too tight and hasn't reacted to the financial news is we've gotten over the past few months hasn't done enough to deal with the persistent joblessness the slow growth and has been too worried about inflation and now many people are much more concerned about deflation the way that j

. >>> some unlikely competitors squared off in japan. the big brown rhino beetles were the favorites at an insect wrestling tournament. the oversized critters locked horns in a struggle to push the other off a stump while others were set in a tug-of-war showdown. the sport has become a way for kids to show off what has actually become a very popular pet in japan. yes, that's right, bill, a popular pet. you didn't hear me incorrectly. >> the rhino beetle. >> yeah, who knew. >> i wonder if they're edible. >> let's not try and find that one out, bill. people are eating their breakfast. >> that's a good reality show. >>> time now for a look at some of the stories we'll follow throughout the day here on nbc. democrats could get a crucial vote on a stalled jobless bill with the swearing in of west virginia's new senator carte goodwin. he replaces the late robert byrd. >>> also in washington, the senate judiciary committee is expected to approve the nomination of elena kagan to the supreme court, sending it to the full senate for a final vote.

the women's has dolls changed for example had to say like this came into fashion in japan. only a handful of people knew the sputnik being designed by sergei cut off his name did not appear anywhere it was soviet leader nikita khrushchev the one. with our sputnik is searching the earth and awaiting for american and other sputniks to show up side by side with it before commonwealth of sputnik's. von braun's attempt to launch the first us satellite ended in the vanguard explained. when you. called my father to tell him that he should launch another sputnik in time for the anniversary of the one nine hundred seventeen october revolution which was close at hand but people had gone on vacation and had to be summoned back. khrushchev wanted something more than just another sputnik she wanted something entirely new was given less than a month to invent one there were neither blueprints no quality control the whole enterprise depended on trust throughout his career it was always looking for people willing to forgo food and sleep and work through the night just to slough folk to che

is at risk for the kind of deflationary spiral that japan faced in the 1990s. policymakers revealed their worries yesterday with the release of minutes from a recent fed meeting. economist cary leahy says the threat of deflation is real. >> yes, deflation is... i'd say is the biggest single economic risk. inflation is not a risk at the moment. >> reporter: leahy says the problem with deflation is that it usually brings two friends along for the party, namely high unemployment and a very weak economy. that's because if prices keep falling, consumers wait to buy things. the drop in demand then eats into corporate profits, and firms are forced to cut jobs. while economist stuart hoffman say the chance of deflation is low, he says it's so dangerous because it's tough to stop once it starts. >> that's why you don't want to get into a deflationary cycle. but that's exactly what happens- - people hold off, businesses worsen, they lay more people off, which only makes people more hesitant to buy, and the whole thing can feed on itself into a vicious cycle. >> reporter:

the winds have changed for example and do so like this came into fashion in japan. only a handful of people even at the sputnik being designed by said. his name did not appear anyway it was soviet leader nikita khrushchev the one. with our spotlight is certainly. the earth and the waiting for american and other sputniks to show up side by side with it before commonwealth of sputnik's. i. won bronze attempt to launch the first u.s. satellite ended in the vanguard to explain. when you. called my father to tell him that he should launch another sputnik in time for the anniversary of the one nine hundred seventeen october revolution which was close at hand but people had gone on vacation and had to be summoned back. khrushchev wanted something more than just another sputnik he wanted something entirely new. given less than a month to invent one there were neither blueprints no quality control the whole enterprise depended on trust throughout his career was always looking for people willing to forgo food and sleep and work through the night. is a psychologist from russia

women's has changed for example had to strike this came into fashion in japan. only a handful of people at the sputnik being designed by sergei cut you off his name did not appear anywhere it was soviet leader nikita khrushchev the one. with our sputnik asserting the earth and the waiting for american and other sputniks to show up side by side with it before commonwealth of sputnik's. i. won bronze attempt to launch the first u.s. satellite ended in the fan going to explode. when you. called my father to tell them that he should launch another sputnik in time for the anniversary of the one nine hundred seventeen october revolution which was close at hand but people had gone on vacation and had to be summoned back. khrushchev wanted something more than just another sputnik he wanted something entirely new. given less than a month to invent one that would need the blueprints no quality control the whole enterprise depended on trust throughout his career it was always looking for people willing to forgo food and sleep and work through the night just to slough spoke

the women's has changed for example like this came into fashion in japan. only a handful of people at the sputnik being designed by said. his name did not appear anyway it was soviet leader nikita khrushchev the one. if you were a straight our spotlight is certainly. the earth and the waiting for american and other sputniks to show up side by side with it before commonwealth of sputnik's. i. phone braun's attempt to launch the first u.s. satellite ended in the vanguard to explode. when you. called my father to tell him that he should launch another sputnik in time for the anniversary of the one nine hundred seventeen october revolution which was close at hand but people had gone on vacation and had to be summoned back. khrushchev wanted something more than just another sputnik he wanted something entirely new. given less than a month to invent one there were neither blueprints no quality control the whole enterprise depended on trust throughout his career was always looking for people willing to forgo food and sleep and work through the night. is a psycholo

the winds have changed for example like this came into fashion in japan. only a handful of people even the sputnik being designed by said. his name did not appear anyway it was soviet leader nikita khrushchev the one. who our spotlight is certainly. the earth and the waiting for american and other spot makes to show up side by side with it so for commonwealth of sputnik's. i. attempt to launch the first u.s. satellite ended in the vanguard to explode. when you. called my father to tell them that he should launch another sputnik in time for the anniversary of the one nine hundred seventeen october revolution which was close at hand but people had gone on vacation and had to be summoned back. khrushchev wanted something more than just another sputnik he wanted something entirely new. given less than a month to invent one there were neither blueprints no quality control the whole enterprise depended on trust throughout his career was always looking for people willing to forgo food and sleep and work through the night. is a psychologist from russian space rese

japan's nikkei lost more than 1.5%. hong kong's hang seng was also down sharply. today, wall street gets the latest on how much the economy is growing. on thursday, stocks fell after an early rally ran out of steam and the dow industrials lost 30 points. the nasdaq gave back 12. a federal reserve official warns the weak economy may lead to deflation. that's when prices and wages drop for a prolonged period and can create a vicious cycle of declining profits and higher unemployment. the official said the fed should have a program in place to reverse that trend in case it happens. >>> there will be no apologies from outgoing bp ceo tony hayward. in his first interview since agreeing to resign from the company, hayward told "the wall street journal" he did everything he possibly could after the oil rig explosion in the gulf. he said he became, quote, a villain for doing the right thing. but hayward admits he had to step down to help restore bp's image. >>> another recall for toyota. this time its 412,000 avalon sedans and lexus suvs. they could have a problem that ca

i just finished a monster of a book it's a huge book, set in japan and covers the earth from 1939 and 1966 about 2 brothers and the title is a street of a thousand blossoms. if you haven't noticed we are talking about themes that run through my book. one of the things i like a lot is exploring subcultures. the lepercy. the silk working women. i like to write about groups of people who persevere and make a life on their own aside from what the general culture is doing. i find that i don't consciously sit down and do that but it happens. in this particular book something that has fascinated me is sumo and sumo wrestlers and how they get so big and what it's like in their culture. one of the brothers becomes an sumo and that's why it's a big book! [laughter]. >> do you think that -- being a woman who is in women have been oppressed -- i don't know if they are now or not, dou think that has stimulated you in your writing coming out of that? you specifically and in general, do you feel like a lot of women have been stimulated by being part of an oppressed class? >> good question. >> very m

there was a part in time i thought, i could go back to japan and go there and see how it looked. i had in the book and in my heart what i thought it was, i almost knew that if i had gone back it wouldn't be the same. so i made the conscious choice of not going. now that you tell me this i'm thankful i didn't i think it would have destroyed what i created in my head. i thought places are best when they are imagined. i hesitated naming it after a place where my mom said what did exist. i'm glad i didn't go back. making that conscious choice would have changed had i gone back would have changed the direction of the book a lot. >> when i saw it it was so different than how an imagined from reading your books. >> does that teach you never to look up things. always listen to the writer? [laughter]. >> we have time for one more question. >> can't be our essay question. >> she didn't give us a question yet. i wanted to know what made you think of the title like the samurai's garden? >> oh , know the title story. >> i'm sorry. >> quickly. this is actually a publishing business thing. i ha

success in a global level a bit on an individual level to we can hear now from my colleague again to japan he met some people living with hiv a charming cartin says he chivied saved her life not something you hear very often my life before you try every. story. i have to go for days weeks weeks and weeks to go are you know does not even take a bath is just get high get high get high get high was smoke crack smoke. drink drink in this go to that passed out seven years ago when a child the diagnosis prompted her to change your lifestyle and i've been clean thank you. it has been restarted the ball of my new life now she takes a cocktail of three chivied fighting drugs every day and says it's like fighting any other disease but the international community thinks differently aids which the united nations says has killed twenty five million people is classed as a global epidemic there are however some scientists in the minority who counter this view h.-o. view is just another that we know hunted some of them professor duesberg from the university of california berkeley says the world has been b

america currently has twenty eight thousand troops based in south korea and fifty thousand more in japan we need to throw off the lecture on korean studies at sydney university in washington's actions are provoking. north korea never threaten us first north korea is a small distant you for impoverished struggling pariah state so believe that for north korea simply reacts or sometimes reacts to the threats which comes from outside if united states decides to go execute an invasion or regime change i would be surprised if you're at some stage decided to use nuclear capability nuclear deterrence against whatever enemy is closest to solve gru is going to be the first victim of the. another standoff with a new clear pretext between israel and the run announced time veteran british journalist on hot explains why tehran would never strike first. just supposing iran had one two three dozen nuclear bombs do you think he would be stupid enough to launch a first nuclear strike on his roof course he would because the whole of the wrong would be devastated the real reason why israel is paying up the

and over in asia some arc is a high on relief after those test results in japan stocks are rising up optimism to domestic earnings why exporters of all sued by the weak you get counted up two point two percent and honda rose one point four percent hong kong's resource tech stocks are also pasting. in other news g.m. after over as joint car manufacturing toll yeah see is hiring people again as demand is growing and production is nearing the pre-crisis levels russia's ministry of industry and trade expects the country's car market to grow by fifteen percent this year and apparently it sank the ongoing cash for clunkers program which is bruce's sales of the cheapest cars rescuing after over. to the person who wants to buy simply as a car and extend the moves of this program then so be it don't forget that we will be unqualified you know in the combination to the company of the bric countries as an origin market which means that we're still far from the european level situation and technical level and from the standpoint. now that is all told this program is simply reflecting we all woul

was now see how the equity markets are performing this tuesday first to asia in japan profit takers some of that a key dow mainly on a stronger d'anna turn against orders to little sony and jeeves who are among them some disappointing corporate results from the united states also adding to the pessimism meanwhile in hong kong the hang seng is gaining value in the news about china's its recent divest sumption it mainly benefits the banking sector and the automakers. the russian markets are closed this hour you're seeing the figures from monday one both the r.t.s. and the my six ended the day in the walk and into stocks rose as the price of oil have around seventy six dollars a barrel it's very very close the top blue chip gainer of one of the house for some time after saying last week the growth of bad loans has stabilized. russia's biggest gold producer paul use me pay a dividend of eight house per share for the first half that's twenty seven u.s. cents a figure slightly lower than expected and is about house of what the company paid last year if the board of directors recommendation is

america currently has twenty eight thousand troops based in south korea and fifty thousand more in japan tensions have been running high in the region after an international commission blamed the north for sinking one of the south's washouts back in march it killed forty six sailors these are all accusations are pyongyang strongly denies the u.s. also included unilateral sanctions against the north a lecture on korean studies at sydney university elated petroff believes pyongyang will never strike first. north korea never threatens first north korea as a small distant you for impoverished struggling pariah state so i believe that for north korea simply reacts or sometimes reacts to the threats which comes from outside if united states decides to go ahead and execute an invasion or regime change i would be surprised if you're at some stage decided to use the nuclear capability of nuclear deterrence against whatever in the me is closest to solve korea's going to be the first victim of the. well the u.n. has ordered a human rights investigation into israel's deadly raid on a gaza bound aid

america currently has twenty eight thousand troops based in south korea and fifty thousand more in japan leonid. are on korean studies at sydney university believes washington's actions are provoking pyongyang north korea never threatens first north korea as a small distant you would for impoverished struggling pariah state so i believe that north korea simply reacts or sometime over reacts to the threats which comes from outside if united states decides to go ahead and execute an invasion or regime change i would be surprised if your at some stage decided to use their nuclear capability nuclear deterrence against whatever enemy is closest to solve korea's going to be the first victim of the. well another standoff with nuclear pretext. for other between israel and iran in about twenty minutes veteran british journalist alan hart explains why to iran would never strike first. just supposing iran had one two three dozen nuclear bombs do you think he would be stupid enough to launch a first nuclear strike on israel of course it would because the whole of iran would be devastated the real re