i'm yoshi ogasawara. >>> we begin in japan.fficials are warning about the approach of what might be one of the most powererful typhoons to hit the country in decades. it comes after another powerful storm brought severe weather to the country in the southwest. typhoon haishen is building strength over waters south of japan. the powerful stotorm is expecte to approach the southwestern part of the country from sunday through monday with nearly its full force intact. >> translator: it is necessary to fully consider the possibility that the typhoon will have a bigger impact than we've ever experienced. >> it's the second major storm to hit in a week. typhoon maysak brought heavy rain to the kyushu region earlier this week. the storm left at least five people injured and hundreds of thousands of homes without power. a search is underway for the crew of a cargo ship. it was sailing wednesday morning when it fell out of contact. of the 43 crew members on board, one has been rescued so far. he told rescue workers that an engine malfunc

i'm yoshi ogasawara.e start in japan, where the country's main ruling party elected chief cabinet secretary suga yoshihide its new leader. the politician is virtually assured to succeed abe shinzo, who announced last month his decision to step down to deal with his health. >> translator: i would likee to proceed with regulatory reforms, by defeating such things as bureaucratic sectionalism, vested interests, and blind adherencee to precedence. and i want to form a cabinet that will work hard for the people. >> suga said japan cannot afford to have any political void while facing the challengege of the coronavivirus spreading. he pledg to keep p pressing forward with the efforts p prim miminister abe has been n makin overcocome the crisis. but he said he'll choose e his ministers on his own inititiati. >> translator: as a new prime minister, i will pick whoever shares my policy goals andnd wo with themem otherwise, i cannot serve the people's will. >> suga won more than 70% of the votes cast, beating his t

i'm yoshi ogasawara.e begin here in japan where the new president of the main ruling liberal democratic party is getting the chance to assert his power. susuga yoshihide has filled key posts with veteran lawmamakers from the five ldp factions that backed his campaign. suga retained party heavyweight nikai toshihiro in the key ldp post of the secretary-general. veteran politician moriyama hiroroshi stays as diet affairs committee chairpersoson. these influential figures were suga's most powerful supporters in the leadership campaign. suga also appointed former communication minister sato tsutomu as general council chairperson, the top role of the party's highest decision making body. former educacation minister shimomura hakabun remains in the party management as policy research council chairperson. and yamaguchi i taimei is named election strategy committee chairperson. suga is almost certain to succeed abe shinzo as prime minister f following a ve e in e diet on wedndnesday. if so, his cabinet would also

i'm yoshi ogasawara.e begin in taiwan where a high ranking american official has just touched down. keith crock is visiting the island to attend a memorial service for the formerr tie win knees president who died in july. the trip is likely to put further strain on u.s.-china ties. the undersecretary of state for economic growth, energy and the environment is set to attend the service on saturdrday. the state department issuedd a statement saying washington is honoring lee's legacy by continuing our strong bonds with taiwan and its vibrant democracy. economic cooperation. the trump administration appears to be aiming at countering china which has been s steppingg up pressure on taiwan. the u.u.s. enacted the taiwan travel act two years ago to facilitate visits by senior officials. the taiwanese foreign minister is welcoming crock's visiting, saying he'll be the highest ranking u.s. state department official to visit taiwan in 41 years. a chinese foreign ministry spoke person on thursday says the trip cont

i'm yoshi ogasawara in tokyo.nks for watching and do stay with us for more. ♪ >>> this is "newsline" biz. i'm gene otani. softbank group is pushing ahead with its selling spree as it shifts from telecoms towards investment. the japanese con glom rate is selling u.s. distributor bright star global group for an undisclosed sum. softbank group is selling the company for both cash and a 25% stake in the buyer which is part of a u.s. private equity firm. back in 2013 softbank group bought u.s. mobile carrier sprint to beef up its telecom business, but sprint merged with another u.s. carrier this april and is no longer part of the group. early this week softbank group said it was selling leading chip designer arm in a deal worth up to $40 billion. >>> china owned tiktok has been under the spotlight as tensions mount between washington and beijing. president donald trump says his administration has b been talki to firms interested in the u.s. arm of the video sharing app. >> we spoke today to walmart, oracle, i guess mic

i'm yoshi ogasawara in tokyo.nks for watching and do stay with us for more. ♪ >> this is "newsline biz." i'm gene otani. posona group says it will gradually move some of its functions from central tokyo to an island in western japan. the announcement comes as many busisinesses are reviewing thei work styles during the coronavirus ndemic. functions such as human resources and financial affairs as well as business planning will be transferred from its head office in tokyo to an island in the preekt. it plans to open a new facility for marketing and online business using digital technology. the group says it will relocate two-thirds of about 1,800 workers at its headquarters to the island. that will be done in stages by may of 2024. group officials say they'll increase preparations so business can carry on smoothly in the event of a disaster or another outbreak of disease. >>> the operator of the zoom video conferencing system has posted robust results for the latest quarter as the rise of remote work spurred demand

i'm yoshi ogasawara in tokyo. thanks for watching and we'll have more for you soon. >>> this is "newsline biz." i'm gene otani. the australian economy has plunged into technical recession for the first time in 29 years. it shrunk for two consecutive quarters after being battered by the coronavirus. data from the bureau of statistics shows the country's gdp contracted by 7% in april through june period. compared to the previous three months, that's the biggest quarterly decline since records began in 1959. personal consumption fell due to restrictions in economic activity and as people refrain from going out. >> our record run of 28 consecutive years of economic growthth has now officiaiay com to an end. the road ahead will be long. the road ahead will be hard. the road ahead will be bumpy. >> lockdown measures have been gradually eased since may, but infections spread again in and around australias second largest city melbourne prompting officials to reimpose restrictions in july. >>> covid-19 continues to hit jap

i'm yoshi ogasawara in tokyo.e begin on the korean peninsula where there are conflicting explanations of last week's fatal shooting of a south korean fisheries official by troops from the north. a new report from south korea's coast guard says there's growing evidence the man wanted to defect. officials say the man went missing from a patrol vessel in the yellow sea and could not have reached the spot where he was found unless he swam there. the findings are based on an analysis of the current at the time and the fact he wore a life jajacket.. the south korean report also says north korea knew the man's name, age and hometown as well as his desire to defect. pyongyang claims the man never disclosed his name and had tried to escape. south korea's coast guard and defense ministry have been investigating the shooting. the report's conclusions may also have been informed by north korea's military communication records. seoul is calling for a joint investigation to find out what really happened. >>> japan's prime minis

i'm yoshi ogasawara in tokyo. thanks for watching and do stay with us for more. >>> this is "newsline biz." i'm gene otani. japanese industrials giant hitachi is pulling the plug on the construction of a nuclear power plant in britain. hitachi says its board of directors decided on wednesday to withdraw from the project on the island of angelsy in wales. they put it on hold in january last year. it cited ballooning costs and other measures. they asked the government for greater support for the project, but the firm says negotiations made little progress parartly d to the coronavirus pandemic. they say the latest decision does not expect to significantly impact its business. the firm already posted relevant expenses from the stoppage in fiscal 2018. >>> the u.s. trump administration has struck another blow in its feud with china. the treasury department says it will impose sanctions on a chinese state-owned entity that is constructing a complex in cambodia. u.s. officials say china could repurpose the property for

i'm yoshi ogasawara in tokyo. thank you for watching and do stay tuned for more. >>> this is "newsline biz." i'm gene otani. government agencies have submitted their budget requests for the next fiscal year. the total is likely to top 100 trillion yen or $947 billion for the seventh year in a row. it's not yet possible to get an accurate figure because costs relating to coronavirus projects could still grow. the health, labor, and welfare ministry requested over 32 trillion yen as social security costs are expected to grow. that's a record figure and a third of the total. the defense ministry also set a record asking for nearly 6 trillion yen to boost japan's defense capability. more than 25 trillion yen or a quarter of the total has been requested for interest p paymen and redemption of government bonds. covid related budgets includede spending for a project to establishh pcr testing facilitis throughout japan. they also include measures to support tourism businesses and to deal with the virus with an eye for the

i'm yoshi ogasawara.t in japan, where the country's main ruling party elected chief cabinet secretary suga yoshihide its new leader. the politician is virtually assured to succeed abe shinzo, who announced last month his decision to step down to deal with his health. >> translator: i would likee to proceed with regulator