BUSINESS DIGEST ||

Internet access

COLUMBUS

On Wednesday, state Sens. Joe Schiavoni of Boardman, D-33rd, and Cliff Hite of Findlay, R-1st, announced bipartisan legislation to enable more Ohioans in rural areas to gain access to broadband internet service.

The bill would create a $50-million per year grant program using funding from Ohio Third Frontier bond revenue. Ohio Third Frontier is a state-administered economic development initiative.

It’s estimated the grant program would expand broadband coverage to about 14,000 Ohio households per year without raising taxes or using money from the state’s General Revenue Fund.

The Development Services Agency would award grants of up to $5 million to businesses, nonprofits, co-ops or political subdivisions to build broadband infrastructure in unserved and underserved areas. The grants could not cover more than half of a project’s cost.

The legislation calls for the DSA director to award grants based on applicants that best address community needs.

Facebook: Accounts from Russia bought ads during campaign

WASHINGTON

Facebook says it has identified nearly 500 fake accounts, probably run from Russia, that it says spent about $100,000 on thousands of ads that amplified politically divisive issues during the 2016 US presidential campaign. Facebook Chief Security Officer Alex Stamos said in a statement Wednesday the company discovered the accounts during a review of ad buys. He says the 3,000 ads promoted political messages on a range of issues from gun rights to race issues.

Woes may demand jump in stamp price to 60 cents

WASHINGTON

The U.S. Postal Service would need to boost prices for mailing letters and packages by nearly 20 percent if it hopes to have enough cash on hand to avoid bankruptcy. That means the price of a first-class stamp could jump from 49 cents to nearly 60 cents, the biggest one-time increase in its history. The post office is seeking to raise stamp rates beyond the rate of inflation. Bulk-mail rates also could be affected, straining budgets for many states that distribute election ballots by mail.

US trade deficit widened in July as exports slipped

WASHINGTON

The U.S. trade deficit increased slightly in July as exports slipped a bit more than imports.

The Commerce Department said Wednesday that the trade gap reached $43.7 billion in July, up from $43.5 billion in June. Exports declined $600 million to $194.4 billion, while imports slid $400 million to $238.1 billion.

The trade deficit had narrowed in the spring as exports of U.S. computer products and farm goods rose. U.S. exporters benefited from a decline in the value of the dollar, which makes American products cheaper overseas.

Staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .1244.410.00

Aqua America, .71 33.620.11

Avalon Holdings,1.88-0.01

Chemical Bank, .2744.910.63Community Health Sys. 7.30 -0.38

Cortland Bancorp, .2817.750.00

Farmers Nat., .1613.300.15

First Energy, 1.44 32.28-0.24

Fifth/Third, .5225.77-0.02

FirstMerit Corp.,--

First Niles Financial, .1210.50-0.02

FNB Corp., .4812.410.02

General Motors, 1.5237.670.44

General Electric, .9224.920.16

Huntington Bank, .28 12.510.13

iHeartMedia Inc.,1.350.00

JP Morgan Chase, 1.9290.130.62

Key Corp, .3416.900.11

LaFarge, .34--

Macy’s, 1.51 22.181.17

Parker Hannifin, 2.52 160.050.29

PNC, 2.20123.58-0.21

Simon Prop. Grp., 6.60158.621.74

Stoneridge 16.500.16

United Comm. Fin., .12 8.95-0.10

Selected prices from Wednesday’s 4 p.m. close.