Conrad Black, the brash former newspaper magnate who lived extravagantly before his 2007 federal conviction for defrauding shareholders, may soon be released from a Florida prison after a federal appeals court granted him bail Monday.

The ruling from the 7th Circuit U.S. Court of Appeals came weeks after the U.S. Supreme Court kicked Black's fraud conviction back to a lower court.

Black, who renounced his Canadian citizenship to become a member of the British House of Lords, was convicted along with three other former executives from the media empire Hollinger International of swindling the company's shareholders out of $6.1 million. He was acquitted of nine other charges.

It was not immediately clear when Black, 65, would be released from the low-security prison in Coleman, Fla., where he has served more than two years of a 6 1/2-year sentence. The conditions of his release will be determined by U.S. District Court judge in Chicago, according to an order from the three-judge panel.

Last month, the Supreme Court weakened the "honest services" law that was central to Black's fraud conviction. The justices left it up to a lower court to decide whether the conviction should be overturned. That decision has not yet been made.

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.

Cohen & Grigsby, a business law firm with headquarters in Pittsburgh, PA and an office in Bonita Springs, FL, is pleased to announce that the following highly experienced attorneys have joined Cohen & Grigsby's Pittsburgh offices:

•Clifford B. Levine joins Cohen & Grigsby with extensive experience in complex commercial and governmental litigation, as well as land use development, environmental, energy and construction litigation and counseling.  Levine has a statewide practice involving all phases of land use and governmental law.  He has been a featured speaker and active practitioner with current issues such as Marcellus Shale, eminent domain and takings, regulatory preemption and constitutional limitations to land use controls.  He also has experience with the development of energy projects and environmentally sensitive industries.  He has been serving as lead counsel for the Commonwealth of Pennsylvania in litigation involving fiscally distressed cities and has had considerable involvement with the laws governing municipalities and public authorities, including his past service as the vice chair of both the City of Pittsburgh Planning Commission and its Zoning Board of Adjustment.  Levine has considerable political experience, having recently served as chair of President Barack Obama's Western Pennsylvania Steering Committee, and is currently a member of the President's National Advisory Board.  Levine served as statewide election law counsel to the Bob Casey for Senate campaign in 2006 and currently is acting in that capacity for the Dan Onorato for Governor campaign.  Levine, a member of the Allegheny County Academy of Trial Lawyers, has been recognized in Best Lawyers in America and as a Pennsylvania Super Lawyer, which identifies the top five percent of lawyers in the state.  He recently was named one of the 100 most politically influential individuals in Pennsylvania.  Levine received his J.D. from Duke University and his B.A. in economics from the State University of New York at Albany.

•Alice B. Mitinger joins Cohen & Grigsby with significant experience in land use litigation and development and with appellate, regulatory, administrative and election law issues.  Mitinger has appeared before governing bodies and zoning hearing boards throughout western Pennsylvania and recently served a three-year term on the Zoning Board of Adjustment for the City of Pittsburgh.  Mitinger has represented a wide variety of clients, including wireless telecommunications providers, landfill companies, independent power producers, real estate developers and the Commonwealth's Department of Community and Economic Development.  Highly active in the community, Mitinger currently serves as the president of the Board of Trustees of Pittsburgh Arts & Lectures, member of the Board of Trustees of the Carnegie Library of Pittsburgh and co-director of the Alumni Schools Committee of the Yale Club of Pittsburgh, among other roles.  Mitinger received her J.D. from the University of Pittsburgh School of Law and her B.A. in history from Yale University.

"Cliff Levine and Alice Mitinger bring considerable experience in the areas of land use, energy and governmental law," said Jack Elliott, president and CEO of Cohen & Grigsby, PC.  "With the extensive number of legal issues concerning Marcellus Shale and other energy industries, Cliff and Alice greatly complement our practice in this area."

Levine indicated that he and Mitinger are very enthusiastic about joining Cohen & Grigsby.

"We are attracted to the breadth of experience and overall number of highly skilled lawyers, which will greatly enhance our practice and provide a great depth of service for our clients," said Levine. "We are looking forward to a long and productive association with such a fine firm."

Prior to joining the firm, both Levine and Mitinger were attorneys in the Pittsburgh office of Thorp Reed & Armstrong, LLP.