Discount broker Charles Schwab Corp. said on Tuesday that its second-quarter earnings rose 16 percent in part due to a gain from a confidential settlement with a vendor.

The bank, which provides services to pension funds, said it has made a $550 million deal for Goldman Sachs Group Inc.'s hedge fund administrative services business.

Forest Laboratories Inc. said Tuesday its net income dropped 79 percent in the fiscal first quarter after its antidepressant Lexapro lost patent protection, allowing other companies to sell low-cost versions of the drug.

U.S. industrial production rose in June as factories made more cars, machines and business equipment, the Federal Reserve said Tuesday.

The city faces a $45 million budget shortfall, based on pension obligations and costs of services. It will vote Wednesday on declaring a fiscal emergency.

The NFL and the players' union have agreed on funding of benefits to widows and other survivors of players from before 1993, an extended package worth $15.2 million.

Senate Democrats are readying a one-year, $272 billion bill extending income tax cuts for all but the highest earning Americans that would also boost their capital gains and dividends taxes next year to 23.8 percent.

San Bernadino joins Stockton as another large city forced to bankruptcy because of troubles covering payroll and pension costs for employees.