EMPLOYMENT

JobsOhio reports on growth

JobsOhio said Monday that through the first half of 2016, it has worked on 135 projects with companies that have promised to create a combined 8,580 new jobs in the state.

Those companies will make $2.3 billion in investments as part of those projects, according to JobsOhio, the state’s privatized economic-development organization.

“Our project activity was solid across all of our targeted industries,” said John Minor, JobsOhio’s president and chief investment officer.

JobsOhio noted that its revitalization program, which supports the acceleration of redeveloping sites in Ohio, has steadily increased every year since its inception and that 12 percent of all projects in 2015 included a revitalization component. Such sites would be those that include buildings with lead paint or asbestos or those that require environmental cleanup or building demolition.

REAL ESTATE

Home prices rise in July

U.S. home prices rose modestly in July, pulled up by strong gains in Portland, Seattle and Denver, a private index says.

The Standard & Poor’s CoreLogic Case-Shiller 20-city home price index rose 5.1 percent in July from a year earlier after increasing 5 percent in June. Prices rose 12.4 percent in Portland, 11.2 percent in Seattle and 9.4 percent in Denver.

The housing market has been helped by a strong job market and low mortgage rates.

The Commerce Department reported Monday that new home sales fell 7.6 percent in August, slowing after a 13.8 percent surge in July. The National Association of Realtors said last week that sales of existing homes slid 0.9 percent in August. A shortage of available homes has limited sales and pushed prices up.

OIL/GAS

DTE to grow in Appalachia

DTE Energy Co. plans to spend $1.3 billion for natural gas assets in Pennsylvania and West Virginia.

The Detroit-based company announced Monday that an agreement calls for DTE to purchase all of Appalachia Gathering System in Pennsylvania and West Virginia and 40 percent of Stonewall Gas Gathering in West Virginia from energy company M3 Midstream.

In addition, DTE plans to purchase 15 percent of Stonewall Gas Gathering from Vega Energy Partners.

The assets will become part of DTE’s non-utility Gas Storage and Pipeline business, which owns and manages a network of natural gas gathering, transmission and storage facilities serving the Midwest, Northeast and Ontario markets. The deals are expected to be completed this year.

AVIATION

FAA says change on schedule

Federal officials say airline pilots and traffic controllers are on schedule to switch to text communications at most of the nation’s busiest airports by year’s end.

The Federal Aviation Administration calls the start of the new Data Comm technology a milestone that holds the potential to reduce delays, prevent errors and save billions of dollars in fuel costs.

Controllers and pilots will still use their radios for quick exchanges like clearance for takeoff and for emergencies and situations where time is critical. But the nation’s air traffic system is gradually shifting to text messages for a majority of flying instructions.

TRADE

WTO slashes its 2016 forecast

The World Trade Organization dramatically slashed its forecast for trade growth this year by about a third to its lowest rate since 2009, when the global economy was mired in recession in the wake of the financial crisis.

In an update to its forecasts Tuesday, the world’s leading trade body said the groundswell in anti-globalization sentiment could make matters worse, especially if policymakers respond to that in a “misguided” manner.

Compiled from staff and wire reports.