this is "nightly busine" with tyler mathison and sue herera. greece lightning, the indebted country offers a new plan to avert default, signaling a deal may be near sending stocks higher around the globe. home sweet home. existing home sales surge, some say prices will surpass the peak from the last housing boom. but is it a bubble. swift response the pop star that brought the biggest company to its knees. all that and more on "nightly for monday june 22nd. good evening, everyone. welcome, i am sue herera. my partner tyler mathison is on assignme tonight. we begin this evening with greece where a deal on that country's debt is closer than ever. at today submitted new

proposals that wi increas taxe on business and the wealthy. speaking in brussels earlier today, the head of the euro group said this was welcome news. >> all of this with a view of if possible reaching agreement later this week. and using the greek proposals as basis for that but the work can start immediately as far as we're concerned. as the euro group focuses on the specifics, spoke to a greek official about the need for agreement. >> i'm sure that prime minister realizes what happen to the country if he doesn't come back with a solution. not saying the solution is what the greek economy needs at the moment but at least it will keep us standing up. this is a national crisis michelle wor we faced since the seco world war. >> that concern is shared by many others in the greek capital.

we have more from athens. >> reporte protesters again today, demanding the government reach agreeme for a bailout deal. without a deal these people fear greece may leave the euro. >> i'm worried about the situation. things are going from worse to worse. >> i think we should be worried because we have no place anywhere else to go. we'll be on our own here. >> we love our country and this is t reason we want to stay in europe. but the country is divided. last night, these protesters said it would be better to leave the euro rather than give into more demands that require greeks to pay higher taxes and for public sector employees to work longer before retirement. >> away from the eu and union. >> we don't want more authority. enough is enough. >> reporte ask okay to leave the euro? >> we don't need the euro

europe will leave us. >> reporte after withdrawing 5 million euros, greek citizens kept at it over the wee activity continuous at the athens atms as depositors are frighten that without a deal the central bank will stop supporting the banks and they will be cut off from their money. we nervous, don't know what happen next day. we stay in the euro we go out for the euro that's the situation.r: on the outskirts of athens in this port town he is a shipping engineer. before the crisis he was making a lot more money. >> 2009 about 19 to 20,000. >> in a year. >> now it is about 5 to 6. >> thousand per year. >> yeah. >> per year. >> yeah. >> reporte the working class is tired. the business class terrified.

time is running short to negotiate the bailout agreement. greece needs to pay the imf 1.5 billion you're owes by june 30th. they have to get that 7 billion euro installment of bailout money before them to make that payment. they don't, if they default on the imf, it is possible that's the day the ecb would stop supporting the greek bank. that would mean shut down of the banking system and could be more catastroph. >> the potential for a deal sent stocks higher with nasdaq composite hitting new highs. by the close, the dow-jones average rose 103 points to 18,119. the nasdaqd s&p 500 added 12 points. now the u.s. economy saw the existing home sales increase

hitting the strongest sales pace since late 2009. as sales rise so do prices. that prompted the chief economist for national associatn of realtors to predict prices could surpass the peak set in the last housing boom. but is that a healthy thing? diana olek reports. >> reporte there too few hoemts for sale put thing pressures on prices. median price, $228,700. compare to the highest monthly price in july of 2006, t the housing boom 230,400, just 1700 bucks more. the realtors chief economist, however, says we e not in a housing bubble. >> demand keeps the bubble but demand can't continue to rise if prices continue to rise. >> rep it is a tricky argument to make. it is not a bubble there's so much demand even though at some point, buyers won't be able to

afford what they want. >> right now we are in a mismatch but not a condition where prices would come down because of the housing shortage. we have more supply it will lead to attaining home price growth. the argument goes if home builders ramp up production morselers put homes on the market all will be well. may beat sales expectations up 9% from a year ago even amid higher prices. >> we are not in a bubble but in a place where prices are going to expand. the reason why it is not a bubble as of yet is way too much cash in the market. people are not as leveraged up as they were 8 years ago. that decreases the likelihood that everything will apart. >> reporte no bubble because we have lots of cash tight credit conditions and unbreakabl demands. nothing like the last housing bubble except for historically high prices. diana olek in washington.

john sylvia joins us to talk about the market. good to see you. >> good to see you. >> let me start with the question about whether or not you see this market as frothy or in a bubble environment. >> i think on a national scale is not a frothy environment. what we see of course when you look at housing price indexes, it varies by metropolitan area. some areas are very very strong and actually prices are higher than they were at the peak and that includes places such as texas or california some of the east coast areas, some in new york. in general on a national scale, no. nothg like the price bubble that we saw before. >> so if the market is not in a bubble formation, how m do you think home prices can go on a percentage basis. we have seen pretty significant increases. yeah. i think what you're dealing with

is as commentators mentioned earlier, fairl restricted supply. seeing 3 to 5% home price gains on average for the year ahead. again, that's contributed nationally.y in some markets as you might suspect, sue, there's a problem of just building any because density is high land value is expensive. so you have a clustering of consolidat areas, very high prices. on average, a lot of americans are not like that. 3 to 5% is probably a good number to go with. >> how much increase that we have seen in home prices and demand, joe rates have been slowly creeping or maybe people are anticipa that the fed will move on. this may be a more affordable to finance than in the fall. i think you're right on that. there's a little jump ahead,

people anticipating now in the springti that interest rates will go up. and it is a good time to finance right now in terms of buying that home. so i think there's anticipate tree demand. i think it is more consistent with more moderate price gains and home sales, probably as we get to fall. >> final question quickly, when do you t the fed will move on interest rates? >> our expectation is september. i think a lot of home buyers now anticipati higher interest rate increase probably will be buying now. you may see the big strength in 2015 as right now in anticipa of a higher interest rate. >> john thank you very much. pleasure to see you. >> thank you. the takeover battle in the health insuran sector is intensifyi.d then reiterated support for a cash and stock bid for cigna, even after cigna rejected the

latest offer calling it inadequate. in effort to build support with a shareholders and them web casted with wall street analysts to discuss the terms. it could create the largest health insurer based on enrollment shares rose more than 3.5%. aetna is interested in hue mann aetna recently made an offer to humana. they didn't say how much they offered. shares of aetna rose 3% humana slumped 6%. and natural gas pipeline company williams rejected an unsolici $48 million bidequity an oil and gas pipeline company. williams board said the offer was too low and is pursuing other alternatives. soared 26% hit ago high with the takeover offer.

in washington the supreme co sided with a california raisin farmer. the justices ruled it was unconstitu for the government to claim control of a portion of the raisin crop striking a price support program. we reported in april, the was challenge a 66-year-ol supply and increase market prices. when yo think of farming, you probably don't think of newark new jersey but that's exactly where green, leafy vegetabl are being grown, not just but other cities across the country using new technology to create what could be the next big thing in food production morgan brennan is in newark with more. >> rep this is the research lab of aero farms, 10-year-old startup with the largt vertical farm in a former steel mill.

the $39 million project expects to yield 2 million pounds of kale arugula and other salad greens per year without soil or natural sunlight. the concept, converting urban buildings to high tech grow houses that use artificial lighting hide row upon imcompeten and climate control to increase productivity to 70 times greater than field farmers. on average growing in 16 days what otherwise takes 30 days in a field, using 95% less water. 50% less fertilizer. 0 pesticide, herb i side and if you thk i side. >> r it cuts down on transpor and spoil aj. they supply local stores and restaurant green sense farms, two-year-old vertical farm supplies whole foods and ret in the chicago area. >> getting food to your customers quicker, it is more nutritious and more importantly,

we can grow year-round. but there are drawbacks. vertical farms are limited in what they can go since space is constrained. the concept has been around for years. be energy costs can be high it was never economically viable. o ts are changing that. shifting taste as consumers seek locally sourced all natural foods and new technology that's lower in cost dramatically. led lighting one of the largest expenses is more efficient. green sense, for example, works with phillips lighting which created a division dedicated just to this concept. green sense and other farms use blue and red eye odot to colors for photosynthesis and require less energy than standard yellow lights. energy use is low. they have a long lifetime. >> the company has been collecting big data. 10,000 data points per harvest cycle. informn that allows it to grow mustard greens according to

color, texture, and taste. and the product does taste good. for "nightly busine" i am morgan brennan in newark new jersey. still ahead, why the next frontier i a day before a hearing on takata air bags a senate report says the company may have put profits before safety. internal e-mails indicate they may have halted safety audits

for fina reasons. the part linked to 100 injuries and 8 deaths because it can violently explode. apple, one of the biggest most powerful companies in the world was brought to its knees by a pop star but not just any pop star 25-year-old taylor swift. after writing a public letter to the tech company about a recent policy invol royalties for artists, a cha its tune. julia has more. taylor swift is the world's biggest pop star. when she spoke to fa71 million likes on facebook apple list end. writ tumbler, to apple, love taylor open letter criticiz apple music not paying writers, producers or artists for the three month free trial period explaining that's why she's holding back her multi-pl album, 1989 from apple's subscription service

launching jun 30th. writing we don't ask you for free iphones, please don't ask us to provide you with our music for no compensation. >> apple has around $200 billion of cash they should be able to send a little money, don't have to call in ruch uncle yet. >> apple quickly changed its tune. th media chief announcing the company's cha of policy on twitter last night, tweeting apple music will pay artists for streaming, even during customers' free trial period and we hear you @taylor swift 13 love apple. this rare about face for apple ahead of its launch could mitigate damage from her public attack on the tech giant. >> there's potential to come out as a net positive if they can represent hey, we pay the artists right away, we ma a mistake. >> it is great for artists, her move is smart. she has been playing hard ball

with music streaming services and somebody has to do that. she has more bargaining power than the average musician. i think this will have effects through e industry. now that apple capitulated, see if swift changes her mind and includes her album in apple music. no answer from swift yet. for "nightly busine" julia boorstin in los angeles. > a cautious look at sonic report. the drive in restaurant change saw sales and profits rise in the recent quarter. they hiked the yearly forecast but new numbers didn't quite meet wall street estimates. shares were lower initially in after hours trading. by the close, stock rose 2.5% to 3422. ade micro devices is weighing a breakup or spinoff. chip maker denied the report. saying they're having preliminy discussio into breaking into two entities or spinning off a business. shares 1.5% higher to $2.62.

an upda on twitter ceo shuffle. company board is looking for a ceo with a full time commitme to running the company. this could be a message to founder and current interim ceo jack door see, since he is also chief of a mobile payment startup square. the board hired a firm to find a permanent ceo. shares were up a fraction. general mills is the latest food company to get healthier. the maker of cereals announced it is getting rid of artificial flavors and colors and cereals by 2017. they didn't say how much that will cost but says consumers won't foot the bill. shares were a few cents higher to close at 56.57. >> medicine's next frontier. researcher are looking into things that live on us and in us to treat some harsh bacterial

megatirrel has more. >> r for centuries we believed bacteria could only be bad for us. research has shown trillions of bugs that live in and on our bodies can be integral to our health. there's ten times more bacteria cells than we have human cells. turns out there's more and more so link between those organisms that live in us and health or disease state. >> called the microbiome. companies are starting to mine it for its potential in all kinds of diseases from rheumato arthr to diabetes to cancer. earlier this year johnson and johnson formed a microbiome institute, partnering with smaller compani and academic labs to develop new medicines. >> the science of the microbiome is at an inflection point where we should start to see translatn fro basic science to new medicines, dyingistics that will change human he one putting

it to work treatment of clostridium effec 5 million and kills 20,000. this registered nurse, natalie gurvich was diagnosed four years ago after taking antibiotics for strep throat. when it returned traditional medicine didn't help. >> i realize next time i take antibiotic eve if i recover this time i would have 65% chance of developing c. diff again and i didn't want t a hostage to this condition. she underwent fmt. a procedure shown to have 90% cure rate for c. diff infections involves fecal material fecal suspension into another person's gastrointestinal track.

>> r she says patients feel better almost immediately and natalie says the procedure worked for her. the doctor is going to start a clinical trial in irritable l syndrome partnered with yale nonprofit open bio. they developed a pill that aims to do the same restore balance that eliminates c. diff seal. the company is filed to go public. it is about to debut on wall strepo megatirrel >> she will have more tomorrow on how the microbiome is being used to make consumer products like deodorant and soap. if you want to read more head to our website, nbr.com. > coming up second acts. you may no some older american workers are doing to make extra money in

retire here is what to watch tomorrow.e the report on durable goods orders, an important econom indicator. another read on the housing market with home sales, and data on the health of the private sector in manufactu is due out. some older american workers g for ways to their incomes but not getting traditional jobs. instead, they're joining the fast growing sharing economy.

kate rogers has more. >> as the american work force ages with workers over 65 outnumbering teens for the first time since 1948 accordin to aarp some retirees finding work in the sharing economy. take this 69-year-old, judith gordon. read about uber in an ad and intrigued by the opportunity presented. i applied and i was accepted that i didn't take the applicat for three months because i was in limbo, not sure if i wanted to be a driver. i had a dream, it said to me i can make a lot of money, i went down picked up my phone, started driving right away. >> rep she drives as much as 50 hours a week calling it a past time. she says she can makeup to $850 a week as driver partner. i love meeting new people. every rider is a new person with a new personality and new things to talk about and it is actually

exciting. aarp says one-third of the american work force is over age 50. the driver demographics aren't far off from that stat. in a report earlier this year uber says 25% of drivers are over 50. informatio on driver demograp compa like uber and lift meaning the total number of drivers is scant. this played out in california course over whether drivers compani are employees or independt contractors. for drivers like don ethan, 64-year-old retired entreprene employee status doesn't matter. he began driving for uber nine months ago, read about the startup in the news and was in intrigued sounded too good to be true. i told my wife i am going to drive a cab. she said you won't last a week you hate to drive.

i said wel we see what happens. he drives up to 35 hours a week. >> best time for me was weekdays not at night, not on weekends. and for whatever reason worked for me i make enough m that supplemes the income to take more vacations. that's the gist of this. me and my wife go on vacations. the competitors declined to break out specific driver demographics but lift says it is seeing increase in drivers over 50 and side car says drivers average age 35 to 45. for "nightly business kate rogers. and finally tonight, former fed chair ben bernanke is quote, appalled that treasury wants to demote alexander hamilton's position on the $10 bill. he says while featuring a woman is a fine idea it shouldn't t hamilton's expense.

last week we asked you what you thought about change. here are the results. 76% said leave the $10 bill alone. 19% said to change the bill to feature a woman. 5% said you were indifferent. we will keep you posted. that does it for "nightly for tonight. i am sue herera. thanks for watching. have a great e

ble, home of the nook tablet. where you can experience books music, games, and more. in our stores and at bn.com acorn pr oudly presents miss fisher's murder mysteries. [ suspenseful music plays ] man: [ groans ] alice. alice! you don't understand, dot. [ groaning ]