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DAVID GREENE, HOST:

And let's stay in this part of the world. Over the weekend, Iran overwhelmingly elected a new president, a man seen by many as a reformer. More than half the voters in that country opted for this change.

The relatively moderate cleric, Hassan Rouhani, replaces Mahmoud Ahmadinejad, who's been in power since 2005. Rouhani campaigned on a message of ending Iran's international isolation.

For reaction from Tehran, we're joined by The New York Times bureau chief there, Thomas Erdbrink.

Thomas, good morning.

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More than 40,000 scientists in Spain have signed a petition calling on the government to end cuts to their budget. They're blaming austerity for an exodus of the country's best and brightest researchers.

Lauren Frayer has more from Madrid.

UNIDENTIFIED GROUP: (Spanish spoken)

LAUREN FRAYER, BYLINE: Hundreds of lab-coated scientists delivered their petition to Spain's Economy Ministry. They marched there last week because the Science Ministry, itself, was closed in budget cuts.

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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 is now about $230 million in debt.

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Now let's hunt for a hidden treasure - although it's not worth all that much - except to history buffs. Archaeologists are on Lake Michigan today looking for the oldest shipwreck in the Great Lakes. They're searching for the Griffin, which was being sailed by the French explorer Robert de La Salle when it sank in 1679. The archaeologists might be on the right track. They uncovered a wooden beam that looks like the mast of a ship. Peter Payette of Interlochen Public Radio reports.

Jordan is hosting major military exercises known as Eager Lion 2013. More than 15,000 soldiers from 18 countries, including the U.S., will be participating. The war games kicked off as Syria's civil war rages next door.

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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.

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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.

DAVID WESSEL: Good morning.

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.

President Obama is in Northern Ireland Monday — the first stop on a three-day European visit that includes a G-8 summit meeting and a side trip to Berlin.

The president begins his tour with a speech in Belfast, celebrating Northern Ireland's peace process and urging young people in the country to keep it moving forward.

Later, Obama joins leaders of other industrial countries at a remote golf resort in County Fermanagh for talks on Syria, trade and the global economy.

Call it the Affordable Care Act, call it Obamacare, call it whatever you want — it's coming. And soon. In less than four months people without health insurance will be able to start signing up for coverage that begins Jan. 1.

A lot has been said about the law, most of it not that understandable. So starting now, and continuing occasionally through the summer and fall, we're going to try to fix that.