Briefly

TD Waterhouse Group Inc., the No. 2 U.S. discount brokerage after Charles Schwab, Wednesday posted a quarterly loss after charges for layoffs and branch closings, as customers cut back on trading stocks in the slumping market. The New York company reported a net loss of $21.8 million, or 6 cents a share, for the three months ended July 31, compared with a year-earlier profit of $34.5 million, or 9 cents a share. Revenue fell 26% to $257 million. The company’s shares (ticker symbol: TWE) rose 16 cents to $7.99 on the New York Stock Exchange.