News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Treasury, IRS Delay Part of Rule on Corporate Tax Avoidance

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The Treasury Department and Internal Revenue Service delayed part of an Obama-era rule intended to combat corporate tax avoidance, giving companies an additional 12 months to comply with regulations requiring them to document internal loans.

Barclays Pushed to Loss by Africa Write-Down

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.

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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.

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.

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.

Trump Eyes Columbia Professor for SEC Seat

The White House is preparing to nominate Columbia University law professor Robert Jackson to a Democratic slot on the Securities and Exchange Commission, according to people familiar with the matter.

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.

(END) Dow Jones Newswires

July 28, 2017 16:15 ET (20:15 GMT)