Now, as we've been reporting elsewhere in the program, President Obama is in Europe this week for the G8 Summit in Northern Ireland. On Tuesday, he heads to Germany to meet with German chancellor Angela Merkel. Germany is the EU's powerhouse. Its economic success has given the country political power, in part, because it's the region's biggest lender.
NPR's business news starts with an acquisition for Lowe's.
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GREENE: The home-improvement retailer Lowe's has reportedly agreed to buy Orchard Supply Hardware Stores. The sale price is expected to top $200 million. Now, Orchard is a California-based hardware and garden chain. It was once owned by Sears, and it's now about $230 million in debt.
Boring TV is such a hit in the Scandinavian nation of Norway that broadcasters are scrambling to produce even more shows to satisfy the appetites of viewers. One idea being considered is a live show with knitting experts, according to The Wall Street Journal.
OK, Scott just made clear economic issues have some competition for top billing at the G 8 Summit in Northern Ireland. We do, though, want to drill down into one economic question this morning, and that's why interest rates here at home are going up. The bond market has pushed them to the highest levels in 15 months, and that includes mortgage rates.
Let's turn, as we often do, to David Wessel. He's economics editor of The Wall Street Journal. David, good morning.
The U.S. Open concluded yesterday at the Merion Golf Club, just outside Philadelphia. And for American Phil Mickelson, this was another case of always the bridesmaid, never the bride. Mickelson finished as runner-up at the Open for a record sixth time, despite leading for most of the tournament. In the end, it was England's Justin Rose who took the prize, winning his first major tournament.
And for a recap of all the drama, we reached USA Today sports columnist Christine Brennan, who covered all the action. Hey, Christine.