the lawyers also referred to a false report mizuho had submitted to financial authorities. it says top executives didn't receive information about the loans. the lawyers said it was not an intentional cover-up, but criticized them for not giving proper attention to questions from government regulators. they express regrets that the problem occurred at a bank that it said should have been spearheading efforts to sever ties with criminal groups. >>> meanwhile, mizuho bank has announced penalties for its executives in connection with the scandal. the bank president told a news conference that the chairman will step down. he will remain chairman of the bank company mizuho financial group, but his pay will be suspended for six months. sato said he will receive a pay suspension for the same period. more than 40 other executives will face penalties including pay cuts. he also explained new measures mizu plans to take in other cases. he said the bank will appoint outside board members in december. the step is aimed at improving transparency and monitoring functions. only the holdin

he also explained new measures mizuho will plan to take to prevent similar cases. he said the bank will provide outside board members in november. the step is aimed at improving the bank's transparency and monitoring functions. currently only the holding company has external board members. in addition, the bank plans to set up an inside panel that will keep an eye on transactions with organized crime groups. >> translator: we will implement the plans we've just announced to improve our business practices. the mizuho group will go all out to eliminate connections with gangsters. >>> negotiators from countries in the transpacific partnership free trade talks ended a five-day working group meeting in tokyo. they have failed to narrow their differences over intellectual property rights. officials of the 12 countries discussed protection of copyrights, patents on medicine and other issues during the meeting. the united states insisted on a long period for the protection of patents on medicines. emerging nations were against the idea. they said a long protection period w

okabe added that the initial screenings were not as strict as mizuho's. he says his bank didn't intentionally make the loans. okabe said the new panel will look into how the bank became involved in the business with organized crime groups and work out measures to prevent similar cases. okabe said the bank will submit a business improvement plan to the financial services agency by october 28th. >>> chinese president xi jinping >>> police in tokyo are searching for thieves who have an eye for luxury. a gang smashed into a store in one of the city's classiest areas and took designer goods worth more than $400,000. a taxi driver called police before dawn from the ginza district to say someone was using a car to break open a shutter. officers were on the scene in five minutes. they found the shutter and the store's showcases open. the thieves got away with 21 bags and 3 scarves, all from the french brand hermes. the most expensive item was a bag worth more than $26,000. police are piecing the crime together. they say the gang pulled up at the store in two cars

. >>> japan's financial regulators plan to conduct extra inspection on mizuho bank over its scandal. the key purpose is to examine whether there was any intentional cover-up. the financial services authority has decided to conduct the special inspection in addition to their planned inspections on the three major banking groups, including affiliate mizuho financial group. they plan to start early next month. an independent panel of lawyers reported the results of their investigation into mizuho bank earlier this week. it shows there was no intentional cover-up. bank executives also denied there was any such intention. but the financial regulators feel this needs further verification. they plan to send special inspectors to the bank and closely look into its internal documents can and interview executives. they'll also look into the responsibility of the executives who did not take action to stop the dubious loans. the regulators will then consider whether additional penalties are needed for mizuho bank. >>> japan's finance ministry officials have upgraded their economic assessment for

they are tokyo mitsubishi jfk, and mizuho. it will begin next tuesday. the inspections will focus on the legal compliance systems of these banks, including measures to prevent transactions with criminal syndicates. >>> major japanese brokerages reported strong earnings for the first six months of their business year. behind the gains are booming stock markets in the country. nomura posted a profit of norn $1 billion. in yen terms, this is about 22 times the amount from a year earlier and the biggest profit in 11 years. another firm daiwa jumped to around $950 million. >>> japan life insurance plans to expand into the indonesia market. the major insurer will be the latest company in the industry to make inroads into southeast asia. sources say sumitomo is to agree by the end of the year to enter into indonesia. it's likely to buy a 40% stake in the firm for $300 million to $400 million. japan's domestic market has been shrinking and this has prompted insurers to eye southeastern asian countries. >>> here are the latest market figures. >>> residents of tur

he added that the initial screenings were not as strict as mizuho's. he said the new panel will look into how the bank became involved in the business with organized crime groups and work out measures to prevent similar cases. he said the bank sent an improvement plan. >>> a cosmetic firm is fielding complaints from an increasing number of customers at home and abroad. thousands of people reported problems after using the skin whitening products. spokespersons say they have confirmed nearly 14,000 cases in japan, and 72 others in ten asian countries and territories. nearly 5,000 consumers have reported serious symptoms. they include multiple blotches and marks that are five centimeters or larger. some victims are preparing to sue the company to claim compensation. >>> ministers from 21 rim economies have gathered in bali for the apec forum. participants to discuss ways to resolve differences and strengthen ties across the region. here is the report. >> reporter: foreign trade ministers from the apec member economies are expected to discuss plans for ma

. >>> japanese financial regulators have given mizuho bank a deadline to submit a report on dubious loans to organized crime groups. the financial services agency instructed the bank and its holding company to examine why mizuho's accounts given to inspectors didn't match the facts. they earlier stated that the former workers of top management weren't aware of the loans in question. the former president did know about the case and add considered steps. also revealed that the loans were presented in documents in 2011 and 2012. >>> leaders of egypt's interim grip are tightening their grip on opponents. some say it's a step toward making the islamist organization illegal. authorities limited the activities of the muslim brotherhood until mohammed morsi came to power last year. it gave the group the legal authority to operate. but in july, military leaders overthrew morsi and started to crack down on his supporters. those supporters have protested again and again. more than 50 people were killed on sunday in a fight against security forces. but on tuesday, they were back on the streets of cai

. >>> independent lawyers are delving into japanese bank mizuho's actions. they claim they weren't aware of the gravity of the problem. they said the loans were made indirectly through a consumer finance scheme. and bank personnel were facing confusion at a time of computer troubles. regulators about a month ago paved the way for investigation when they accused mizuho of illicit loans. the current chairman was president at the time. bank officials are considering a disciplinary action against him and two other presidents. >>> twitter is scheduled to be listed on the new york stock exchange in mid november. the total market value of the u.s. online messaging service is expected to reach up to $10.9 billion. twitter disclosed a plan to price range documents filed with the securities and ebs change commission. they will price its stock at between $17 and $20 per share. they man to offer 70 million shares. that will race 1.2 to $1.4 billion. it is expected to be the largest after facebook's listing last year. >>> french soccer fans will have to find something el

mizuho announced a business improvement plan including penal penalty for its top officials. the chairman will resign and the president sato will receive no executive pay for six months. the financial authorities plan to study the independent panel's findings and the bank's business improvement plan. the regulators will examine the bank's responsibility for turning in the false report. they will also look at the management's negligence for not taking any measures against the lending practice. >>> the top executive of a major japanese hotel group is stepping down over a scandal involving a wrong description of meals served at its hotels and restaurants. officials from hankyu hotels admitted last week eight hotel and four restaurants in the group used items of a different origin from those listed on their menus. they used cheaper shrimp and leeks. the president said he will resign on november the 1st. >> translator: this incident constitutes a breach of the customers' trust. the wrong descriptions cannot be considered just a mistake, so we are to blame. >> dasaki said the opera

mizuho financials lost about 1% after admitting top management knew about loan toes criminal groups at least three years ago. meanwhile, tenco shares in the red as japan's industry manager rejects new legislation to save the struggling utility giant. the operator of the crippled fukushima power plant says six workers were exposed to radioactive water from the leak. back to you, ross. >> thanks for that. we'll take a short break. still to come, india's central bank says why he felt confidence enough to lower the rate overnight despite recent pressures. there is a pursuit we all share. a better life for your family, a better opportunity for your business, a better legacy to leave the world. we have always believed in this pursuit, striving to bring insight to every investment, and integrity to every plan. we are morgan stanley. and we're ready to work for you. with my united mileageplus explorer card. i've saved $75 in checked bag fees. [ delavane ] priority boarding is really important to us. you can just get on the plane and relax. [ julian ] having a card that doesn't charge you forei

we have interesting news crossing the wires from mizuho bank. loans have been handed out to a syndicated crime group in japan. they're going to suspend pay for the president, chief executive. so a slap on the wrist of the man who is trying to steer the company bank to strength. the chairman has resigned over this scandal. he will step down from the role of chairman. there was no cover up of the shady lending. it tried to recover from the earthquake in 2011 as they tried to get systems in place so they weren't focused on some of these loans that they were handing out through one of the operations of the business. but this is the reaction today is to remove the chairman and suspend pay for the ceo. >>> let's move on to another story here in the u.k. travel disruptions in the u.k. as the nation braces for its worst storm in two decades. they've confirmed they're running reduced volume. the gabrick airport says they're not running. national rail has said most routes across central southern england and wales are affected. the london overground is sus