akiko fujita joins us live with what world leaders will be discussing. >> good morning. prime minister abe, the most himself is making headlines on the first day of the summit coming out and saying in the first session he's warning of another lehman-like event in the economy. specifically citing emerging markets and commodity prices are levels not seen since the crisis in 2008. saying commodity prices have dropped 55% since 2014 which he says is the same as the 55% drop right before the lehman collapse so that certainly making head lines on this first day but of course the global economy, the big topic of discussion here among the g7 leaders specifically on china. not just about the economic slowdown there and what kind of effect that could have on larger economies but also at it relates to the geopolitical risk and the territorial dispute in the south china sea. china of course lost in a tense debate with six other asian countries. g7 foreign minister have already released their own statement condemning coercive and unilateral actions. and while the u.n. has replain on

akiko fujita, shanghai. >>> hackers strike at the heart of the global financial system. wooerl we'll tell you what they did and what it means. >>> an anti-counterfeiting group has suspended ali baba's membership. the international anti-counterfeiting coalition told members it had failed to inform the board about conflicts of interest involving an executive of the group. member companies had recently pushed back against alibaba's inclusion which some view as a marketplace for fakes. gucci america, michael kors and tiffany left the coalition because of alibaba's involvement. >>> facebook ceo zuckerberg defending against accusations of political bias which we told you about earlier this week. in an online post he wrote that facebook does not censor conservative topics and that the social media network does not permit the prioritization of one viewpoint over another. zuckerberg said he is conducting a full investigation and will reach out to conservative leaders to discuss the issue. >>> global bank hackers strike again. they found their way into the financial messaging syst

for "nightly business report," akiko fujita, japan. >>> still ahead, could rising wages for fast food workers back fire for the very people they're mean . a legal victory for google, siding with alphabet. the other day we told you the outcome of the trial could ripple through the entire software industry. theodore boza has the details from the courthouse now. >> after six years of litigation and plenty of increasingly heated back and forth between two tech giants, the jury in the courthouse behind me decided in favor of google. essentially they have decided that the company did not violate oracle's copy right when it used java programming to create android. we have since heard from both companies giving statements. let me read you the first from oracle. they said they brought this lawsuit to put a stop to google's illegal behavior. we believe there are numerous grounds for appeal. google for their part issued this statement. today's verdict that android makes fair use of java represents a win for the android ecosystem so the java programming community and for software developers who r

akiko fujita joins us now from japan with all the details. >> good morning wilfred.tainly an emotional moment for the 180,000 atomic bomb survivors still living. they have waited 71 years to see this. president obama though not offering an apology but a larger vision of a world without nuclear weapons and the significance of hiroshima. >> death fell from the sky and the world was changed. a flash of light. and wall of fire destroyed a city. and demonstrated that mankind possessed the means to destroy itself. >> and here in ise-shima, leaders of the g7 countries offering a united front when it came to the statement that came out saying the nations who you would work in a cooperative manner but stopped short of ouring specifics on coordinated fiscal spending. prime minister abe speaking a short time after saying lead leader -- he said the leaders agreed on that. and the message was largely seemed aimed at domestic audience. he looked to clay the sales tax hike take a listen. >> translator: we rigorously debated the global economy at this time and agree it faces a great

akiko fujita is following the story in japan. the first sitting president to go to hiroshima there.'ve just seen president obama arrive. what can we expect today? >> that's right nancy. i know you are going to be following the images. watching here as well, the presidential motorcade has arrived at the peace memorial park weemplt expecting president obama to lay a wreath in that arch. right near the very spot the u.s. dropped an atomic bomb on hiroshima, 71 years ago now. and certainly that is huge event here in japan, wall too wall live coverage. helicopters tracking the motorcade as president obama was headed towards the memorial. just to give some context here, 71 years have passed. this is an attack on japan, on hiroshima and nagasaki. 2 200,000 people. still 180,000 survivors living. a president obama has made it clear ahead of the visit that there will be no apology. but the survivors i've spoken to saying they are really looking for a commitment to a nuclear free world. and that is something that president obama laid out back in 2009. survivors i spoke to say they don't belie

we are sitting down with akiko fujita with more. >> reporter: good morning to you.m negative interest rates to the fed, this is a wide-ranging conversation. but we started it by talking about the yen's move. finance ministry is the one that will ultimately decide if japan intervenes in the market or not, but the boj has been criticized for not acting in the last meeting despite the yep's appreciation. it has gained more than 10% on the dollar since the boj introduced our negative interest rate policy back in january. i asked governor kuroda whether there was a red line that the boj has set to affect the price target. he said that there was not in his words, he said it doesn't matter if the yen is at 100, 120 or whatever because the central bank will be looking at several factors including output expectations in addition to the exchange rate before opting to move forward with the easing policy. this has been called into question after the central bank delayed the inflation. here's what he had to say. >> i don't think our credibility has been reduced in any way. becau

. >> leaders are gathering in japan at the g7 summit today, abe shinze -- akiko fujita joins. >> leadersreement in where they believe the recovery stands. angela merkel saying she believes there is limited growth. shinze abe -- trade in the tpp also on the agenda here with the trade deal yet to be ratified. leaders agreeing to speed up the process, and taking effect next year. as for geo political risks, the territorial dispute in the south china sea dominating discussions but president obama saying g7 leaders also expressed concerns about the u.s. presidential election. >> they're rattled by it. and for good reason. because a lot of the proposals that he's made display either ignorance of world affairs or a cavalier attitude or uninterest -- an interest in getting tweets and headlines instead of actually getting through what it required to keep america safe. >> president obama there talking about donald trump. tomorrow the attention will shift to hiroshima, where president obama becomes the first sitting u.s. president to visit the site of the nuclear attack. he has made it clear he wil

akiko fujita is covering that in japan and jouns us right now. >> good morning. certainly the health of the global economy dominating discussions on the first day of the g7 summit by leaders divided over mr. they believe the recovery stands. merkel believes the economy is showing stable growth while prime minister abe here in japan warning of a lehman-like event specifically citing commodity prices and growth in emerging markets saying they were at levels not seen since the global priesz in 2008. trade also on the agenda here at g7. with the tpp yet to be ratified. and we heard from president obama talking about the progress that was made on that front. take a listen. >> we had a chance to talk about trade. not only tpp and our involvement in that, but also t tip. and recommitted ourselves to making sure we try to finish those negotiations by the end of the year and emphasize the importance of pushing back against either protectionism or competitive currency devaluations or the kinds of beggar thy neighbor strategies that all too often end up leaving everybody wo

akiko fujita has more on the story and joins us. >> good morning to you.l this was certainly an emotional moment for the 180,000 atomic bomb survivors who are still alive. seeing a sitting u.s. president visit that very site where the u.s. dropped an atomic bomb 71 years ago killing 141,000 people. he didn't offer an apology but he did talk about the larger vision for a nuclear free world saying specifically we have a shared responsibility to look directly into the eye of history. >> in the image of a mushroom cloud that rose into these skies, we are most starkly reminded of humanity's core contradiction, how the very spark that maps us as a species, our thought, imagination, language, tool making, our ability to set ourselves apart from nature and bend it to our will. those very things also give us the capacity for unmatched destruction. >> the president spoke with some atomic bomb survivors shortly after the speech. this was a speech carried out live across all networks here in japan. it wasn't without controversy. japans neighbors, china and south korea