greek intervention. barack obama urges greece's new leader to do what he can to solve the financial crisis. greece's new prime minister had to talk an important call during one of his first days on the job. the u.s. president was on the line. barack obama phoned him to congratulate him on his election victory and asked him to work to reform greek finances. sm obama welcomed his commitment to tackle the economic crisis. obama urged him to cooperate with officials from the eu,

international monetary fund and the european central bank. samaras said his government is committed to the austerity plan required for billions in help from the eu but said he intends to ask for some of the spending cuts to be eased. samaras outlined plans to promote economic growth while cutting debt and a freeze on laying off employees. he will miss a two-day eu summit in brussels. he is recovering from eye surgery. moody's cut the ratings of 28 spanish banks it is another blow to spain after lowering the assessment of bonds earlier this month to just about speculative status. the latest bank downgrades range from one to four levels. the largest banco santander a two-notch reduction to be aa-2. the largest bank, affected,

bankia was also cut by two levels to the speculative rating of ba2. many other banks are also now considered below investment grade. moody's says the downgrades are due to a forecast rise in uncollectible loans due to the collapse of spain's real estate bubble, and that is in addition to the impact of the rating cut of spain's sovereign debt. spanish leaders have turned to the european union for help. they asked for a bailout as many had expected. and hours later the leaders of cypress asked to be bailed out too. government officials did not specify how much they need. but they said they would use the fund to shore up their troubled banking sector. banks suffered heavy losses earlier this year on the holdings of greek government bonds. eu leaders asked member nations to contribute when the alliance bailed out greece. the euro group chief said in a statement he and hisle colleagues will review the situation and respond spoon. the mediterranean island nation

became the fifth euro zone country to ask for assistance joining greece, ireland, portugal and spain. japan's finance minister has urged european leaders to compile effective measures against the region's debt crisis whb th when they meet at a summit later this week. >> i expect them to talk prompt, firm action. >> over 100 billion euros on the table at the eu summit. a tab for stimulus measures aimed at ending the credit crisis. a draft statement says the leaders will confirm their commitment to financial discipline and says they will take appropriate and coordinated measures to stimulate growth and generate jobs.

the eu chiefs say they will inject 10 billion euros into the european investment bank and the aim to support businesses they plan to issue bonds to fund infrastructure, including transport and information technology. the trial will be worth 4.5 billion euros. syria's downing of a turkish war plane, triggered a bilateral war of words. a syrian ground-to-air attack shot down the war plane over the mediterranean sea near the border between the two countries friday. the two pilots are missing. a syrian foreign ministry spokesperson said the air defense fired because the war plane had violated his country's airspace. he denied the claim that the plane was over international walters when it was atacked. the turkish deputy prime minister upped the ante in the dispute. he says syrian forced attacked

without warning, another turkish war plane that was searching for the downed jet. he called it an act of aggression and said syria should be punished under international law. eu foreign ministers confirmed a ban on imports of iranian oil. frustrated in efforts to get the i ra iranians to halt their nuclear program. sanctions go into effect sunday as planned. >> reporter: eu foreign ministers approved an embargo, at a meeting of once refusal to halt iranian enrichment. this followed last week's meeting in moscow between iran and five permanent members of the u.n. security council plus

germany. ministers will also ban eu based firms from ensuring, tankers transporting iranian crude oil to japan. experts forecast iran's oil exports will be cut by 20%. or 1/2, if the united states ban is included. the iranian government said it will continue the uranium enrichment despite the blow to its weakened economy. >> does this new -- well, complete oil embargo help toward filling the gaps? >> those sanctions are there to try and keep that pressure, in order that the regime in iran understands that this is about trying to get them to take those concerns seriously and address them. >> reporter: eu representative catherine ashton said she hopes to solve the nuclear standoff through dialogue. takashi ichinose, nhk world,

luxembourg. meanwhile, israeli prime minister benjamin netanyahu has urged russia to step up pressure on iran over its nuclear program. netanyahu met russian president vladimir putin on monday and said he asked putin to bolster sanctions against tehran. israel has been threatening to use military force against iran's nuclear facilities. putin said only the talks were mutually useful and that russia and israel will continue to develop ties. russian officials have said they seek to solve the nuclear issue through dialogue, not tougher sanctions. moscow has been involved in talks between iran and the other u.n. security council members, plus germany. egypt's president-elect has begun forming a cabinet. mohammed morsi intends to be a president for all egyptians in his politically divided country. morsi met with the commander in chief of the nation's armed

forces, they discussed transferring the military's power to a civilian government by the end of this month. morsi ran as a candidate for the islamic fundamentalist muslim brotherhood but has promised to resign from that party to show he will rule independently. morsi is expected to draw on a range of political groups as he puts together his cabinet. he's pledged to appoint a woman and member of a minority christian group as vice presidents. local medias say the president-elect may offer the key post of prime minister to mohamed albaradi, the former head of the world's nuclear watch dog. albaradi was set to stand as a candidate for the post last year, but he pulled out, citing concerns about the military's control of the elections. an iranian news agency reported egypt's new president is willing to restore ties with iran. the two countries severed relations more than 30 years ago. mohammed morsi reportedly said he wants to establish a strategic balance in the middle east.

iranian president ahmadinejad issued a statement congratulating morsi's victory. u.s. defense department official will move ahead with plans to deploy an aircraft with a checkered safety history in okinawa. u.s. military leaders are planning test flights of the osprey aircraft next month at the base in western japan. then they will move the plane to the marine air station. local objections to the deployment increased after two recent crashes, an osprey went down in morocco killing two, and another crashed in florida. all five crew members were hurt. officials at the pentagon investigated the crashes. they briefed japanese authorities last week on what they found. they said the aircraft passed all safety checks. they said they would go ahead with their plan.

in china, a microblogging service is attracting keen attention of users, hitting 300 million. the social networking site services is a forum for exchanging information word of mouth and generating new business chances. in shanghai just about everyone has a smartphone. often they're using it to check their accounts. these microblogging sites are a key forum for exchanging information about consumer products. >> translator: i always check, you can't take advertisements at face value. >> reporter: a leading japanese cosmetics maker has set up a

account to alert people in china to its new brand. after posting information about new cosmetics, it analyzes the reactions and then posts follow-up information about the products. people who respond to the information posted are invited to the company's promotional events. after trying out the products, the invitees post their comments and reactions again via the site. >> reporter: we are not just sending out information. we want to hear what our fans have to say and respond to their comments. so we build up a strong bond with them. >> reporter: microblogs are now an important part of product promotion and so are the bloggers. this woman works for an insurance firm in shanghai.

as a sideline she posts important information about cosmetics. her posts are very popular and she now has 75,000 followers. these came to the notice of an advertising agency. it asked jan to write online reviews of various skin scare products. she then began to be contacted electronically by cosmetics companies. now her reviews of their products earn her as much as $1,900 a month. boosting her income by 160%. >> translator: i tried to make sure to point out the good aspects and the bad. i want people to say they can trust a product based on what i say. >> reporter: advertising come pans are drawing up lists of people like jan who have many weibo followers.

they pick up the ones they think will be best for endorsing products, comments via weibo. >> some weibo celebrities have hundreds of thousands of followers. they yield amazing influence in getting people to trust products. >> the growing influence of weibo, microblogs has made them a key medium for companies. that are aiming to expand their business in china. japan's two major airlines are hoping to attract more passengers by offering in-flight internet. japan airlines say they are preparing to phase in the new wireless service on selected international routes. japanese aviation authorities have approved the wifi networks

for computers and smart phones as they don't affect their planes' instruments, however, only some international carriers are offering the connections. j.a.l. say their services begin july 15th between tokyo and new york. they are planning to gradually expand it to european and asian routes. a.n.a. officials say they'll be booting up some time next summer. energy ministers of the asia pacific region agreed to expand production and trading of natural gas. they say it's the cleanest-burning fossil fuel. ministers from the 21-member asia pacific economic cooperation forum made the announcement monday at the end of two days of energy security talks in st. petersburg, russia. the so-called st. petersburg declaration also says it's important that nations take advantage of nuclear energy. it calls for the sharing of the latest technology on nuclear power plant safety. the declaration suggests apec nations study the potential

impact of political turmoil stopping the supply of middle eastern crude oil or natural gas. it calls on members to prepare against such an eventuality. american workers are seeing their fortunes change. 6 million jobs left the u.s. since the year 2000. many manufacturers moved production to china and other countries to take advantage of cheaper wages. now, some of those jobs are coming back in a trend that the experts call reshoring. corin snyder explains. >> reporter: knives for the outdoors proudly made in the usa. each piece is manufactured with care and craftsmanship. this company has a long tradition of producing knives, dating back to 1902. the mountain west state of idaho is home to buck knives. chairman chuck buck is a

business leader who decided to reshore the production line from china back to america. in the early 2000s, he had no choice but to outsource some production to china because major retailers asked for cost reductions. the company's overseas production peaked in 2008 with 50% of their knives made in china. but letters of complaint started flooding in from their customers. they were unhappy that buck knives were made in china and asked that production come back to the u.s. >> we didn't have made in the usa on the product. just to save our brand, it -- we need to do it. >> reporter: the company started to reshore. today, nearly 90% of their knives are made in the u.s. and they aim to be completely out of china within four to five years. buck knives feels they have

renewed their pride. >> proudly made in the usa! >> reporter: harry moser is a leading advocate to reshoring. he founded an industry-led effort to bring manufacturing and jobs back to the country. harry educates u.s. manufacturers about their real total cost of keeping production abroad. >> we believe that maybe 25% of what has been off shored will come back if they look at their total cost of ownership. >> reporter: harry was invited to the white house with other business leaders in january of this year. president obama praised their efforts to reshore their businesses, which in turn create more jobs for americans. >> because what these companies represent is a source of optimism and enormous potential

for the future of america. >> reporter: in lincolnton, north carolina, a furniture manufacturer is making a comeback here too. this is lincolnton furniture owned by fifth-generation furniture maker, bruce hopper. his family's company was housed in this factory, which closed in 2008. the furniture is built from quality solid american hardwoods based on traditional techniques. the family company once employed over 1,000 workers but was sold in 1996 to another furniture company. president at the time, bruce then became a consultant helping u.s. manufacturers import furniture made in china. >> everybody was interested in importing furniture from china, furniture manufacturers here, it was almost like a drug. >> reporter: but starting in the early 2000s, bruce noticed major

transformations forming in china, such as rising labor costs and shortages in the workforce that resulted in poorer quality. bruce made a decision to move back and set up a new furniture company, once again in his hometown. the factory launched production in january of this year. >> everybody's still in the new technologies that are available that exist that make us more productive than we've ever been before, and the rising wages in china, you know, we're very close to the pivot point. >> reporter: reshoring may not yet be the major trend, but interest in shifting the manufacturing base back to the u.s. is certainly becoming strong. corin snyder, nhk world, new york. lots of sunshine here in tokyo. what about the rest of the world. sayaka mori with the world

forecast. >> let's talk about east asia. it is a different story for western japan. a low and seasonal front, producing rain across the southern islands. and it looks like rain will intensify and head to the region as we head into toechmorrow. and the same is producing lots of heavy rain. tomorrow it will be a rainy day as well. as much as 100 millimeters is expected over a span of 24 hours. and then we have got this low-pressure system enhancing the southwest monsoon, producing lots of heavy rain across the indo-china peninsula. to the south we have tropical depression east of the philippines. and it could become a tropical storm by tonight and continuously bring in heavy downpour as cross much of the country. as the system approaches of course more heavy rain and intense winds are expected over the next several days.

heading over to the americas. tropical storm debby is over the gulf of mexico and will likely make a direct hit on northwestern florida by wednesday evening. then cross the peninsula eastward as a tropical depression and head out to sea by friday. it could develop into a tropical storm once again over the water the we have tropical storm warnings in place across this do coast. that means lots of heavy rain, strong winds. and high waves will continue at least into your wednesday. well in terms of precipitation, as much as 170 millimeters has fallen in northern florida. in addition to that, more than 200 millimeters is likely over the next 48 hours. because, debby is expected to move at a snail pace over the next few days. so, rainfall total could be significant. some areas seeing as much as 630 millimeters. this area is really prone to

flooding. and in fact, we have got -- risk of tornados in parts of florida and into tuesday. meanwhile, heavy rain in eastern canada and new england, will likely continue into tuesday. and out west, as several low pressure, several, fronts and low-pressure systems are producing unstable weather in parts of the western canada and the northwestern corner of the u.s. but to the south, showers will not affect across the areas like utah and nevada where rain is desperately needed. temperaturewise, another baking hot day for you denver, 39 degrees, same goes for houston. 38 degrees in oklahoma city. but out towards the northwest, still in the chilly side. 17 in vancouver and seattle. all right. finally, let's go over to europe. a couple of the low-pressure system. and fronts are producing stormy weather. that will be moving into eastern europe. scattered showers will cover much of the british aislisles.

for europe and iberian peninsula. very hot weather is coming in from africa, across the peninsula and mediterranean countries. looking at 39 degrees in madrid and lisbon on your tuesday. that's it for me now. here is your extended forecast. ♪ ♪ ♪ ♪

u.s. president barack obama urged the new greek prime minister to work with eu officials to reform its finances.

samaras formed a three party coalition government last week. obama talked to him by telephone and welcomed his commitment to tackle the economic crisis. obama urged him to cooperate with officials from the eu, international monetary fund and european central bank. samaras said his government is committed to the austerity plan required for billions and help from the eu. he intends to ask for some spending cuts to be eased. he outlined plans to promote economic growth while cutting debt. they uncluinclude a freeze. he will miss a two-day summit later this week in brussels. he is recovering from eye surgery. syria's towning of a turkish war plane last week triggered a bilateral war of words. a syrian ground-to-air attack shot down the war plane over the mediterranean sea near the border between the two countries on friday. the two pilots are missing. a syrian foreign ministry

spokesperson said the air defense fired because the war plane had violated the country's airspace. he denied turkey's claim the plane was over international walters when it was attacked. turkish deputy prime minister has upped the ante in the dispute. he said syrian forces attacked without warning another turkish war plane searching for the downed jet. he called it an act of aggression and said syria should be punished under international law. and one more story before we go. a japanese survivor of last year's disaster has been carrying the olympic torch in britain. he lost his 2-year-old daughter in the earth quack and tsunami. in the earthquake and tsunami. >> translator: it is a great honor to be here today. i dedicate this run to my family, work friends, and the people of the disaster hit areas.

he is a hotel clerk from sendai city, northern japan. relay sponsors asked him to carry the flame for several hundred meters. at the end of his stint, he thanked the crowd. >> translator: i couldn't believe the support. the cheering was overwhelming. they must have known about my daughter's death. i want to thank her as well. >> the relay will end with a flame arriving at the main olympic stadium on july 27th. and that's all for now on this edition of "news line." we'll be back with more news at the top of the hour, so do john us then. thanks very much for watching.