US OKs con­struc­tion of NEXUS gas pipe­line

The Columbus Dispatch - - Market Summary -

CAN­TON — The Fed­eral En­ergy Reg­u­la­tory Com­mis­sion gave NEXUS Gas Trans­mis­sion per­mis­sion Wed­nes­day to be­gin con­struc­tion of its 36-inch­di­am­e­ter nat­u­ral-gas pipe­line, about a month af­ter ap­prov­ing the $2.1 bil­lion project.

The pipe­line is to carry up to 1.5 bil­lion cu­bic feet of nat­u­ral gas a day from the Utica and Mar­cel­lus shales to users in Ohio, Michi­gan and Canada.

The 255-mile pipe­line will start near Hanover­ton in Columbiana County and cross north­ern Ohio into Michi­gan and On­tario, Canada.

Detroit-based DTE En­ergy and Spec­tra En­ergy, which merged this year with En­bridge, a Cana­dian com­pany, are part­ners in the project. now owns, the sto­ried Coach com­pany of New York is chang­ing its name to Tapestry.

The lux­ury goods com­pany that came to promi­nence in the “Mad Men” era now owns brands like Stu­art Weitz­man and Kate Spade & Co. as well. CEO Vic­tor Luis said Wed­nes­day that the name Tapestry is more in­clu­sive.

Coach ac­quired Stu­art Weitz­man in 2015 in a deal val­ued at up to $574 mil­lion. It spent $2.4 bil­lion for Kate Spade this year, seek­ing to broaden its appeal. The Coach brand of bags and other goods is alive and well, but it be­comes one of three brands sold by the com­pany that will be called Tapestry. in Au­gust to just un­der 6.1 mil­lion, the La­bor Depart­ment said Wed­nes­day, from 6.14 mil­lion in the pre­vi­ous month. July’s fig­ure was re­vised slightly lower but is still the largest num­ber of avail­able jobs since records be­gan in De­cem­ber 2000.

Job open­ings have risen as the num­ber of un­em­ployed has fallen to the low­est in a decade. The un­em­ploy­ment rate, cur­rently 4.2 per­cent, has hit a 16-year low. That has left busi­nesses strug­gling to fill open jobs.

Even so, av­er­age wage growth has been slug­gish, sug­gest­ing that companies aren’t of­fer­ing suf­fi­ciently healthy pay to en­tice work­ers al­ready em­ployed to switch jobs.

Companies also pulled back slightly on hir­ing, and the num­ber of peo­ple quit­ting their jobs also fell a bit. Over­all, the re­port sug­gests the job mar­ket was healthy but a lit­tle less active in Au­gust.

The gov­ern­ment re­ported last week that Hur­ri­canes Har­vey and Irma caused em­ploy­ers to shed 33,000 jobs in Septem­ber.

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