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NEWS ABOUT: American Express

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Obama's Job-Creation Team Full of Job Cutters

Advisers from Xerox, Kodak have laid off thousands

(Newser) - Tomorrow, President Obama will meet with his council of advisers on job creation; trouble is, many of its members seem to know more about cutting jobs than adding them. The head of American Express, for example, was appointed to the council days after AmEx cut 550 jobs—despite the firm... More »

Facebook Game Pays Out Real Gold

But sorry, Americans, it's only open to UK residents

(Newser) - Finally, a way to profit from all that time you waste on Facebook—so long as you're British. Facebook users who live in the UK can play American Express's fantasy gold trading game, in which players buy and sell gold with an eye on how news events alter... More »

Feds Slap AmEx With Antitrust Suit

Just as Justice settles case against MasterCard, Visa

(Newser) - The Justice Department has hit American Express with antitrust charges today, just as it settles similar charges with Visa and MasterCard, reports the Wall Street Journal. The complaint centers around the uneven fees and rules AmEx imposes to "impede merchants from promoting or encouraging the use of a competing... More »

Dow Off 217; Tech, Banks Fall

Google, AmEx drop despite positive earnings reports

(Newser) - Strong earnings just weren't enough to buoy the markets today, as Google and American Express saw big declines despite strong quarterly reports. Goldman Sachs and other financials also posted losses due to fear over President Obama's new restrictions on banks, the Wall Street Journal reports.
  • The Dow lost 216.90
... More »

Salvation Army Takes Plastic

Charity tests 'cashless kettle' program

(Newser) - The Salvation Army's red kettles that collect holiday donations—a symbol for over 100 years—are getting an update. Numerous sites across the country will take credit cards this year as part of a pilot program dubbed "cashless kettles." Earlier tests suggest that the program has promise: in... More »

Dow Climbs 96 to New 2009 High

Expectations for Caterpillar, AmEx earnings boost Dow

(Newser) - Stocks rallied today on expectations for this week’s earnings reports, with the Dow rising 96.28 points to hit a new 2009 high of 10,092.19. Caterpillar, which reports tomorrow, gained 6.5% after saying it would raise prices. American Express, which reports Thursday, gained 2.6%. Traders... More »

Dow Off 42, Wrapping Up Down Week for Stocks

Disappointing data drives indices lower; RIM falls 17.1%

(Newser) - Stocks fell today after reports of a smaller-than-expected rise in new home sales and a drop in orders for durable goods over the last month. Blue chips Alcoa, Amex, and Wal-Mart all fell at least 2%, and RIM dropped 17.1% after issuing a disappointing earnings forecast. The Dow dropped... More »

Dow Down 41; Tech Rises, Banks Fall

September rally sees slight pullback

(Newser) - Stock indices finished mixed today after the markets reached what most traders saw as a slight pause in a very strong September, the Wall Street Journal reports. Financials led declines: AmEx fell 2.9%, while Bank of America lost 1.8%. Google rose 1.1% after Citigroup analysts boosted their... More »

Dow Up 108 to 2009 High

GE, financials gain; Fed shows industrial activity up for August

(Newser) - Stocks rallied today, with all three major indices hitting their highest levels of the year, the Wall Street Journal reports. GE surged 5.69%, AmEx 3.06%, and BofA 2.80% on good data: Industrial production gained 0.8% in August, and the Labor Department’s consumer-price index rose 0.... More »

Buffett: 'We Are Not Out of Problems Yet'

Investor looks to clean up on crisis, but is moving out of stocks

(Newser) - Even Warren Buffett had a bad financial crisis: The Omaha sage personally lost $25 billion in 2008, enough to put him behind Bill Gates on the worldwide rich list. But while many investors hunkered down as markets tanked, Buffett recalibrated, pouring billions into companies—Goldman Sachs, GE, BofA, Amex—that... More »

US Reaps Profit as Banks Pay Back TARP Funds

Fed pulls in $14B from loan programs

(Newser) - When the government spent some $240 billion last year to help avert financial disaster, the idea of making a profit from the TARP funds invested in teetering banks looked like a long shot. Now, however, profits from eight banks who’ve paid back the cash have totaled some $4 billion,... More »

Era of Celeb Endorsers Is Dying Along With Celebs

Iconic ads are history as audience splinters

(Newser) - There was a time viewers couldn't turn on the TV without seeing the King of Pop opening a Pepsi or hearing Karl Malden warning everyone not to leave home without an American Express card. But the recent death of mega sellers like Jackson, Malden, Farrah Fawcett, and Ed McMahon signals... More »

Karl Malden, Oscar-Winner and AmEx Face, Dead at 97

'Don't leave home without it,' he reminded

(Newser) - Karl Malden—the Oscar-winner who later famously reminded travelers not to leave home without their American Express traveler’s checks—died today at 97 of natural causes, the Los Angeles Times reports. The former steel worker played supporting roles in 50 films during the 1950s and ‘60s, winning an... More »

Banks, Energy Fall; Dow Off 201

Dow, S&P 500 now negative for 2009

(Newser) - A global rout in materials and energy stocks combined with a sell-off in financials to wreak havoc on US markets today, the Wall Street Journal reports. The Dow closed down 200.72 at 8,339.01. The Nasdaq lost 61.28, closing at 1,766.19, and the S&P... More »

Stocks Mixed; Dow Off 16

Weak gains for Nasdaq, S&P cap week of losses

(Newser) - Stocks ended mixed for the day and lower for the week, as gains in financials made up for losses in energy spurred by falling oil prices, MarketWatch reports. Bank of American and American Express each rose about 2%, which analysts saw as investors covering short positions. The Dow fell 15.... More »

Treasury to Let 10 Banks Repay $68B in TARP Loans

(Newser) - The Treasury Department has given 10 banks—including Goldman Sachs, JP Morgan, American Express, and Capital One—permission to repay their TARP loans, the Wall Street Journal reports. The government will recoup $68 billion faster than anticipated, but the money won’t go back into the public coffers; Tim Geithner... More »

AmEx to Ax 4K Jobs in $800M Chop

Cuts are in addition to 7K workers laid off last fall

(Newser) - American Express said today it plans to slash 4,000 jobs as part of an $800 million cost-cutting plan, CNNMoney reports. The cuts are in addition to 7,000 workers slated last fall to be laid off. Amex also plans to reduce operating costs and investment spending. The company "... More »

Dow Jumps 164 in Jobs Rally

Investors find hope in stress tests and unemployment results

(Newser) - Stocks rallied today on the unemployment report and stress-test results, the Wall Street Journal reports. Though unemployment continues to grow, the slowing pace of joblessness fueled a cautious optimism. American Express and JP Morgan Chase, who “passed” the government’s test, both gained 9%. The Dow closed up 164.... More »

Madoff's $100K AmEx Bills Point to Rampant Abuse

Investors' money kept family living luxe

(Newser) - Ponzi-schemer Bernard Madoff used investors’ money as a “personal piggy bank” to support family, as well as some staff, extravagances, ABC reports. Documents filed in New York bankruptcy court show that Ruth Madoff used the company card to purchase nearly $5,000 of clothing at Paris boutiques last January,... More »

AmEx to Clients: Here's $300, Now Get Lost

Credit card firm looks to limit exposure

(Newser) - American Express is offering some of its customers $300 to pay their balance and close their accounts, Reuters reports. The firm has been hit with staggering losses, exacerbated by their expansion in recent years to less well-heeled customers. American Express declined to say how many customers had received the buyout... More »

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