NATION

NATION
Salary budget increases
NEW YORK -- U.S. businesses are, on average, increasing their salary budgets by 3.5 percent for 2004, the same level as last year's forecast, according to a new survey from private research group the Conference Board released Wednesday.
If the 2004 gain comes to pass, it would mark the second time in 11 years that salaries advanced under the 4 percent mark. The expected salary gains for 2005 are also expected to come in below 4 percent, the report said.
SEC enacts new ruleon fund-board chairmen
WASHINGTON -- Mutual fund boards must have chairmen who are independent from the companies managing the funds, the Securities and Exchange Commission ordered Wednesday in a narrow vote as it addressed a fund industry scandal.
The new rule, to take effect in 18 months, could shake up the $7 trillion industry to which some 95 million Americans entrust their savings. The boards of 80 percent of U.S. funds -- or about 3,700 funds -- will have to replace their chairmen, SEC officials say.
AT & amp;T change in Ohio
NEW YORK -- AT & amp;T Corp. said Wednesday it will stop selling traditional local and long-distance residential service in Ohio and six other states, attributing its move to a court decision that it says will result in higher prices for its use of regional networks.
Existing customers will be able to keep their service, and the announcement does not affect business or government customers.
Associated Press