Global Glance: Deal reached to limit greenhouse gases; Zombie banks stalking Europe’s economy

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Here are today’s top business headlines from across the nation and world:

Global deal reached to limit powerful greenhouse gases

KIGALI, Rwanda (AP) — Nearly 200 nations have reached a deal to limit the use of greenhouse gases far more powerful than carbon dioxide in a major effort to fight climate change. The talks on hydrofluorocarbons, or HFCs, were called the first test of global will since the historic Paris Agreement to cut carbon emissions was reached last year. HFCs are described as the world’s fastest-growing climate pollutant and are used in air conditioners and refrigerators. Experts say cutting them is the fastest way to reduce global warming. The new agreement, unlike the broader Paris one, is legally binding. Read more

Zombie banks are stalking Europe’s economy

FRANKFURT, Germany (AP) — The walking dead are gnawing at Europe’s weak economy – zombie banks and zombie companies. Almost a decade after the financial crisis that ravaged the global economy, analysts and top officials are warning that too many banks in Europe are struggling financially, keeping them from lending to companies and fostering growth. Read more

Tesla says it hopes to work with Panasonic on solar energy

TOKYO (AP) — U.S. electric car maker Tesla says it plans to start working with Japanese electronics company Panasonic Corp. on solar energy. Tesla said on its corporate blog Monday that the companies have signed a non-binding letter of intent to begin collaborating on Panasonic’s production of photovoltaic cells and modules at a facility under construction by San Mateo, California-based solar-panel company SolarCity Corp. in Buffalo, New York. Read more

Yellen: Slow recovery confounds economists’ expectations

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen said Friday that the slow recovery from the Great Recession has surprised economists, confounding long-held beliefs about growth and inflation. Her remarks could help explain why the Fed has been reluctant to raise U.S. interest rates. Speaking to an economic conference at the Federal Reserve Bank of Boston, Yellen did not address the Fed’s timetable for rates. The central bank is widely expected to resume raising rates in December, a reflection of an improved economy. Read more

High school graduation rate reaches new high

WASHINGTON (AP) — High school graduation rates have reached a record high of 83.2 percent, continuing a steady increase that shows improvement across all ethnic groups, the White House said Monday. President Barack Obama planned to talk about the gains when he visits a Washington, D.C. high school on Monday morning. Increases in the graduation rate for the 2014-2015 school year were seen for all ethnic groups, as well as for disabled students and students from low-income families. Read more

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