Goldman Sachs Group Inc. said Tuesday its second-quarter net income dropped 83 percent to $453 million as its trading revenue fell and it booked a charge for its settlement of civil fraud charges with the Securities and Exchange Commission.

The company's revenue fell short of expectations and helped send the stock market falling. Goldman followed IBM Corp. and Texas Instruments Inc., which late Monday reported revenue that disappointed investors.

Goldman's stock dropped $1.89 to $143.79 in morning trading.

Goldman took a $550 million charge to cover the cost of the settlement with the SEC that was announced last week. Earnings were also reduced by a one-time, $600 million charge tied to a new tax on bonuses in Britain.

Excluding the one-time costs, net income after payment of dividends on preferred stock came to $2.75 per share, easily topping the $2.08 analysts forecast. Analysts typically exclude one-time charges from their estimates.

Revenue fell 36 percent to $8.84 billion, short of the $8.94 billion predicted by analysts.

The drop in revenue that a number of companies have reported is unnerving investors, who see it as a sign that the economic recovery is stalling. Banks, however, have their own revenue issues. Goldman's trading revenue fell along with that of competitors including JPMorgan Chase & Co. and Bank of America Corp. that were hit hard by the spring plunge in the stock market. The drop in their revenue is adding to investors' concerns about how new federal regulations will affect banks' ability to profit from trading operations.

Another person accused of viewing President Barack Obama's student loan records at a U.S. Department of Education contractor in Iowa has pleaded guilty.

Patrick Roan pleaded guilty last week to a misdemeanor. The Iowa City man is scheduled to be sentenced Oct. 12.

He was one of nine people indicted on charges of accessing Obama's student loan records while they were employed at Vangent Inc. in Coralville.

A telephone message left for Roan's attorney wasn't immediately returned. Court records did not indicate what sentence Roan could receive. A telephone message left for a U.S. attorney spokesman wasn't immediately returned.

Two others pleaded guilty last month.

Trial for one woman is set for Aug. 24. Trial for the remaining five defendants is set for Sept. 7.

The Wisconsin Supreme Court has upheld a sexual abuse conviction of a former Jesuit priest who claimed he was falsely accused.

In a 7-0 ruling on Tuesday, justices ruled that Donald McGuire's prosecution 36 years after he allegedly abused two teenage boys in the 1960s was fair.

McGuire, a former spiritual adviser to Mother Teresa and her religious order of nuns, argued the delay hurt his ability to defend himself. Justices disagreed.

The men came forward in 2003 to report they were abused by McGuire during trips to a cottage in Fontana, Wis. in 1967 and 1968. At the time, McGuire taught the boys at the Loyola Academy in Wilmette, Ill.

McGuire was convicted on five counts of indecent behavior with a child. He is serving a 25-year prison term on separate, federal charges.

Angry creditors have thrown plans for an Aug. 4 auction of the Texas Rangers into jeopardy, saying they don't like the bidding procedures and arguing that the lease for the team's ballpark should be severed from the sale.

U.S. Bankruptcy Judge D. Michael Lynn on Monday granted a motion to seal the creditors' request to reconsider the bidding procedures that are heavily controlled by Major League Baseball. Lynn approved the procedures last week after making some changes, including delaying the auction for two weeks to give potential buyers more time to secure financing.

Attorneys for Major League Baseball said the creditors' motion filed last week was rehashing arguments already rejected by the judge, including claims that the bidding process would prevent a fair and competitive sale.

Lynn set a Tuesday hearing to consider the objections and possibly rule on a separate lawsuit, filed by creditor JP Morgan Chase Bank, seeking to remove the Rangers Ballpark lease from the sale.

JP Morgan contends the team's parent company, Hicks Sports Group, transferred the lease to the team just before the bankruptcy filing without the bank's approval, as required in its loan agreement. The bank contends that the ballpark lease is not the team's property.