News Highlights: Top Financial Services News of the Day

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Barclays Pushed to Loss by Africa Write-Down

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Barclays swung to a second-quarter net loss as it took a hit on the disposal of its Africa operations and higher provisions for conduct costs.

UBS, Credit Suisse Boost Earnings After Strategic Shift

UBS and Credit Suisse posted better-than-expected quarterly profit, suggesting their bets on managing money for well-heeled clients have paid off.

Wells Fargo to Refund $80 Million to Auto-Loan Customers

Wells Fargo said it plans to refund certain auto-loan customers who may have been improperly charged for some auto insurance.

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J.P. Morgan Taps Renewable-Energy Markets

J.P. Morgan Chase is following rivals such as Citigroup, Morgan Stanley and Goldman Sachs in seeking to tap renewable-energy markets by striking deals that offset its own power needs.

Meet Randal Quarles, Trump's Pick to Shake Up the Fed

Randal Quarles became skeptical of government intervention during decades of work in the financial world. Now he is set to take the lead in shaping oversight at one of the greatest interveners of all: the Federal Reserve.

Trump Administration to Wind Down myRA Program

The Trump administration is ending a federal retirement-savings program created by the Obama administration aimed at workers who don't have access to traditional retirement accounts.

U.S. Targets Bitcoin Exchange, Alleging It Facilitated Crime

U.S. law-enforcement authorities took aim at one of the world's largest digital-currency exchanges this week in an anti-money-laundering operation that spanned two continents.

Santander Upbeat on Banco Popular Buy as Profit Rises

Santander reported a rise in second-quarter profit and said its recent acquisition of Banco Popular Español would boost returns as Spain's economic recovery accelerates.

Sapphire Reserve Cards Not So Rewarding for J.P. Morgan

J.P. Morgan Chase & Co.'s Sapphire Reserve premium credit card, launched one year ago, is raising concerns within the bank that it won't make money because of high demand and generous rewards.

Japan Needs to Boost Infrastructure Spending to Spur Inflation, Abe's Adviser Says

Japan should spend $900 billion on infrastructure projects over the coming years to boost inflation as part of a bold policy mix of fiscal and monetary instruments under a new Bank of Japan governor, a close adviser to Prime Minister Shinzo Abe said in an exclusive interview.

(END) Dow Jones Newswires

July 28, 2017 11:15 ET (15:15 GMT)