Barclays Reports ‘Pretty Good Progress,’ and a $1.8 Billion Loss<br />Despite the loss, James E. Staley, the Barclays chief executive, said on a conference<br />call with journalists that the bank was “showing pretty good progress.”<br />Barclays, which has large operations in New York and in London, reported its results on Friday alongside a number of Europe’s largest lenders.<br />During the quarter, the bank took a loss of £1.4 billion on reducing its stake in Barclays Africa Group<br />and an impairment of £1.1 billion related to the business.<br />The bank has moved aggressively to get rid of businesses<br />that it does not consider to be core future operations and to resolve misconduct issues that have dragged on its results, and costs from these efforts pushed it into a loss in the second quarter.<br />By CHAD BRAYJULY 28, 2017<br />LONDON — Barclays said on Friday that it fell to a large loss in the second quarter, but said<br />that it had reached a major milestone in its turnaround, finally completing a wide-ranging restructuring.<br />Barclays said on Friday that it had taken charges associated with selling much of its African business<br />and with a controversial insurance product that has weighed on the results of British banks.<br />Lloyds Banking Group, one of the biggest providers of the loan insurance in Britain, took<br />a similar charge of £700 million as part of its second quarter results on Thursday
