News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Banks' Quarterly Earnings Up 10.7%

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U.S. banks' earnings rose 10.7% to $48.3 billion in the second quarter from a year earlier, indicating the sector is continuing its postcrisis recovery, a bank regulator said Tuesday.

Think Interest Rates Are Going Up? Banks Don't

After years of waiting for interest rates to rise, some banks have started to lend as if they never will, loading up on a record amount of loans and securities that carry low rates for years.

Blackstone Considers Initial Public Offering of Gates Corp.

Blackstone Group is considering an initial public offering of Gates Corp. that could value the auto-parts maker at as much as $9 billion.

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Neuberger Berman Arm Backs Energy Capital in New Power Play

Dyal Capital Partners bought the equivalent of less than 20% of Energy Capital Partners in a deal that is below $500 million, said people familiar with the matter.

Captrust to Acquire Smaller Investment Advisory Rival

One of the country's largest investment advisory firms is acquiring a namesake firm from which it split two decades ago, a move that comes as the industry consolidates to combat an aging workforce and rising compliance costs.

H&R Block Names Former Uber Exec Jones CEO

H&R Block has tapped former Uber and Target executive Jeffrey Jones to revamp the 62-year-old tax preparer.

Wal-Mart Nears a Pilot Deal to Offer Customers Installment Loans

Affirm is in talks to offer installment loans to Wal-Mart customers, the latest sign of intensifying competition facing credit-card providers such as Synchrony.

Startup Insurer Seizes on Growing Market for Private Medicare Coverage

In the latest sign of the health-care industry's focus on the growing business of private Medicare coverage, several high-profile executives are planning to launch Devoted Health, a new startup insurer focused on such plans.

Longevity Fund Raises $22 Million to Support Anti-Aging Therapies

The fund seeks startups developing drugs and novel therapies for diseases such as heart disease and Alzheimer's.

Free Money From a Smart Insurer

Talk of a breakup of U.K. insurer Prudential returns as regularly as summer holidays. A nuanced view of the company's plans promises value to investors.

(END) Dow Jones Newswires

August 22, 2017 16:15 ET (20:15 GMT)