i'm shery ahn. >>> friday is a symbolic day for the palestinians. they fought for decades to be recognized as a nation state, and their leader, mahmoud abbas, has now applied for full membership of the united nations. >> translator: the support of the countries of the world for our endeavor is a victory for truth, freedom, justice, law, and international legitimacy, and it provides tremendous support for the peace option and enhances the chances of success of the negotiations. [ applause ] >> abbas handed the membership application to u.n. secretary-general ban ki-moon on friday. ban will pass it to the chairman of the u.n. security council. the u.s. government says it will veto the application in the security council. >> peace cannot be imposed on the parties, it has to be negotiated. actions in the united nations will achieve neither statehood nor determination for the palestinians. >> israeli prime minister has criticized the palestinian move. >> the palestinians should first make peace with israel and then get their state. >> meanwhile, in pales

i'm shery ahn. the group has ended their talks in france. they say they'll continue seeking ways to stabilize the global economy. the g-7 finance chief discussed ways of economic outlook. some of their biggest concerns are the deepening debt in europe and the slowdown in the united states. he later held a news conference. >> translator: we discuss the need for a response to the economic budget situation. we must work on improving our finances to maintain growth. >> credit uncertainty in europe sent the euro down to the 105 yen level. that's the lowest it's been since july 2001. stocks in new york also fell sharply. they closed at 10,992, down 303 points from the previous day. >>> sunday's the tenth anniversary of the 9/11 terror attacks in the united states. over a hundred audio recordings compiled at a u.s. university shed light on the hijacking of the four planes that led to the tragedy of that day. they include on-board conversations. exchanges between air traffic controllers and the voice of one of the hijackers. >> nobody move. everythi

i'm shery ahn. a severe tropical storm is expected to make landfall in japan's southwestern island of shokoku on saturday morning. according to the meteorological agency. it's packing winds of up to 108 kilometers per hour with a maximum recorded wind speed of 144 kilometers per hour. the storm is bringing heavy rains to western and eastern japan. a 75-year-old woman is missing after being swept into a swollen river while on her way to a shelter. two other people have been reported missing and 23 have been injured. on friday talas grounded 127 domestic flights. airlines have already cancelled 231 flights on saturday. they say more could be effected depending on the course of the storm. >>> japan's new prime minister yoshihiko noda wants to quickly compile the third supplementary budget for this fiscal year. he says it's vital for rebuilding areas hit by the earthquake and tsunami in march. prime minister noda's cabinet was officially inaugurated on friday. noda later said disaster recovery is his to

i'm shery ahn. euro zone agreed to help grease. timothy geithner met in poland friday. they discussed a european credit crisis and bailout plan for greece. greece's fiscal rehabilitation is not proceeding as planned. there's now speculation there may be no more international bailout. the finance minister did praise tax hikes and other austerity measures announced by greece this week. it is expected to bring immediate default by greece. they must strictly adhere to fiscal reconstruction plans. >> the continued full implementation of the adjustment program remains to ensure fiscal sustainability, safeguard financial stability and boost the greek economy. >> the finance minister also believes the government will get parliamentary approval for the bailout by end of next month, but growing public discontent about bailout for greece means it remains to be seen whether all 17 governments will get parliamentary approval. after the meeting, the u.s. treasury department issued a statement saying geithner urge them to a unified stance toward the region's economic problems. the sta

>>> welcome to "japan biz cast," i'm shery ahn. it's only been three years since the global financial crisis, and just as it seems the world economy was on the mend, there are signs it could be heading for a relapse. europe's sovereign debt crisis is especially worrying, triggered by greece's finances, the threat now threatens to spread to larger economies, such as spain and italy. >> the global economy has entered a new danger zone, with little running room as european countries resist difficult truths about the common responsibilities of a common currency. >> a lecturer in washington, d.c. on wednesday, zoellick accused european countries of irresponsibility. saying they have not been able to work together to resolve the credit crisis triggered by the greek debt problem. fears are mounting in financial markets that greece may be have no choice but to default. in the european bond market, investors sold greek sovereign debt last week. on thursday, the price of greece's benchmark ten-year bond hit its lowest level since the launch