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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: American Express

American Express stories: 42 news summaries

21 - 40 of 42 Stories | << Prev 1 2 3 Next >>

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 Smarting, Credit Card 
 Companies Cut Rewards 

That airline ticket won't be so easily obtained in recession

Jan 13, 09 4:00 PM CST
(Newser) - Smarting from the sour economy, many credit-card companies are cutting back on rewards programs born out of 1980s excesses, USA Today reports. The cutbacks are akin to moves made by the airline industry last year as fuel prices skyrocketed. “You’re going to see more and more of the... More »

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recession • bank • American Express • credit card • Discover • JPMorgan Chase • financial crisis • rewards • rewards programs

 Struggling AmEx Asks 
 Feds for $3.5B Infusion 

Credit card company is reeling as consumers cut back spending

Nov 12, 08 7:10 AM CST
(Newser) - Falling consumer spending and rising defaults have prompted American Express—which has seen its stock plunge 57% this year—to ask for $3.5 billion from the government’s $700 billion bailout fund, reports the Wall Street Journal. The company Monday received Federal Reserve approval to become a bank... More »

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American Express • consumer spending • Capital One • financial crisis • Wall Street bailout

AmEx Cleared to Become Commercial Bank

Credit card company can now accept deposits, access emergency Fed funds

Nov 11, 08 2:09 AM CST
(Newser) - The Fed has given credit card giant American Express the all-clear to become a bank holding company in a bid to keep the financial crisis wolves from the door, Marketwatch reports. AmEx can now accept deposits and access the Fed's emergency lending facilities. The central bank waived the normal 30-day... More »

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Federal Reserve • bank • American Express • banking • commercial banks • banking industry

 AmEx Will Lay Off 7K 

Pay increases, hiring halted to prop up credit-card giant's savings

Oct 30, 08 12:26 PM CDT
(Newser) - Noting that even wealthy Americans are struggling financially, American Express announced today it will cut 10% of its workforce, halt executive pay increases, and freeze new hires. The creditor to the elite will charge $440 million against fourth-quarter results to cover restructuring after 7,000 jobs are cut across all... More »

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layoffs • American Express • credit card • credit card loans • financial crisis

Lenders Yank Credit Cards
as Economy Sours

Plastic crisis comes hot on the heels of mortgage crisis

Oct 29, 08 4:33 AM CDT
(Newser) - The flattening economy is putting the squeeze on credit card lending just when consumers can least afford it, the New York Times reports. Lenders are putting the brakes on new credit card offers and reining in lines of spending for existing holders, even those with good credit records. The flood... More »

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American Express • credit card • Visa • MasterCard • lending practices • consumer credit • financial crisis

 Airfares May Sag in '09: Report 

Declining demand, dropping oil prices likely to bring prices down

Oct 22, 08 4:47 PM CDT
(Newser) - The slumping economy may bring some good to the travel industry: Domestic airfare and hotel rates could fall next year as strapped individuals and companies think twice about globetrotting. A slash in oil prices, down to half of summer’s record high, has also brought airlines relief, Reuters reports. In... More »

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recession • American Express • airfare • oil prices • hotels • travel expenses • financial crisis

MARKETS

 Earnings Push Stocks Lower 

China's GDP slowdown spooks investors as well

Oct 21, 08 3:35 PM CDT
(Newser) - Stocks fell today as a wave of poor earnings soured investor confidence across the board, though the continued drop in interbank lending rates kept losses in check, the Wall Street Journal reports. The Dow closed down 231.77 at 9,033.66. The Nasdaq fell 73.35 to 1,696.... More »

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China • Chevron • Citigroup • Dow Jones • American Express • Nasdaq • S&P 500 • Exxon Mobil • financial crisis

 AmEx Sees Red as 
 Cardholders Struggle 

Credit card company is seeing more cards fall delinquent as economy worsens

Oct 20, 08 7:58 AM CDT
(Newser) - American Express—expected today to report earnings skidded more than 30% from the third quarter a year ago—isn't quite the industry gem it once was, reports the Wall Street Journal. The company, long a top performer who catered to affluent customers, has seen a surge in delinquencies as the... More »

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American Express • credit card • credit market • financial crisis • Kenneth Chenault

MARKETS

 Bailout, Oil Send Dow Down 372 

Traders nervous about long-term effects

Sep 22, 08 3:26 PM CDT
(Newser) - Stocks plummeted today as uncertainty over the cost and long-term impact of the Wall Street bailout plan spread and oil surged, MarketWatch reports. Treasuries and the dollar fell as traders worried the bailout’s cost could affect the government’s status as a borrower. The Dow closed down 372.75,... More »

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Microsoft • Exxon • Chevron • Dow Jones • American Express • Nasdaq • S&P 500 • bailout • JPMorgan Chase • oil prices

MARKETS

 Stocks Reverse; Dow Down 280 

Lehman Bros., housing weigh on investor sentiment

Sep 9, 08 3:16 PM CDT
(Newser) - After a strong rally yesterday following news of the Fannie/Freddie bailout, stocks gave most of the gain back today as the failure of talks between Lehman Brothers and Korea’s state bank sent shares in the investment giant down 44.1%, MarketWatch reports. The Dow fell 280.01 to close... More »

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Dow Jones • home sales • American Express • Lehman Brothers • Nasdaq • AIG • financial institutions • S&P 500 • oil prices • Korea Development Bank • Hurricane Ike

MARKETS

 Stocks Rise as Oil Drops 

Price of barrel drops to $126, a 7-week low

Jul 22, 08 3:22 PM CDT
(Newser) - Stocks climbed to robust gains by the end of today’s session as a drop in oil helped offset a spread of mixed earning reports, MarketWatch reports. The Dow gained 135.16 points to close at 11,602.50, the Nasdaq rose 24.43 to 2,303.9, and the... More »

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oil • Dow Jones • Wachovia • earnings reports • American Express • Nasdaq • Caterpillar • DuPont • S&P 500

 MasterCard to 
 Pay Amex $1.8B  

Antitrust settlement will help Amex defray losses as economy continues to drag

Jun 25, 08 8:51 AM CDT
(Newser) - MasterCard will pay American Express $1.8 billion in 12 quarterly installments, settling a lawsuit that claimed it had blocked banks from offering American Express cards to customers, the Wall Street Journal reports. American Express said the antitrust settlement would "help to lessen the impact of this weakening economic... More »

MORE ABOUT:
American Express • settlement • Visa • MasterCard • antitrust suit

MARKETS

 Stocks Fall as Oil Prices Surge  

American Express and UPS decline

Apr 9, 08 3:45 PM CDT
(Newser) - Stocks fell today on bad news on earnings and record prices for crude oil. American Express, General Motors, and UPS all took hits. "The negative UPS news could shake confidence in the broader transport stocks," an analyst tells the Wall Street Journal. The Dow ended down 49.18... More »

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stock market • General Motors • American Express • crude oil

Discover Gobbles Up Diners Club

Firm moves into international credit card market with $165M deal

Apr 8, 08 3:10 AM CDT
(Newser) - Discover Financial Services is moving into the global credit card market with its acquisition of Diners Club International from Citigroup, Bloomberg reports. The $165 million deal gives Discover a foothold in the 185 countries outside North America where Diners has a presence, which will add revenue at a time when... More »

MORE ABOUT:
Citigroup • mergers and acquisitions • American Express • credit card • Discover • Diners Club

MARKETS

 Bear Bailout Invites the Bears 

Financial sell-off follows Fed's move, sends markets plummeting

Mar 14, 08 3:40 PM CDT
(Newser) - News of the Bear Stearns bailout triggered a sell-off today as investors were reminded that the true depth and breadth of current credit problems remains uncertain, the Wall Street Journal reports. Bear Stearns stock closed at 30, down a breathtaking 47.4% on the day. The Dow fell 194.65... More »

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Citigroup • Bank of America • Federal Reserve • Dow Jones • Bear Stearns • American Express • Nasdaq • AIG • Countrywide Financial • S&P 500 • Federal Reserve Bank of New York • financial crisis

MARKETS

Stocks Up on Rate-Cut Hopes

Investors look for grim housing numbers to lead to a cut

Jan 28, 08 3:48 PM CST
(Newser) - Stocks finished in positive territory today, riding hopes that grim new housing numbers will lead the Fed to cut interest rates this week. "The main event for the week will be the Fed-rate decision on Wednesday," a strategist tells MarketWatch. The Dow was up 176.72 to 12,... More »

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stock market • McDonald's • Citigroup • Federal Reserve • American Express • interest rate cut

MARKETS

Dow Tanks on Consumer Woes

Index nosedives after more bad news about spending

Jan 11, 08 3:25 PM CST
(Newser) - The Dow plunged 246.79 points to 12,606.30 today as investors, worried about consumer spending, fled retailers and credit-card issuers. Analysts are concerned the mortgage crisis has finally hit pocketbooks, hurting credit, jobs, and public confidence, the Wall Street Journal reports.The Nasdaq slid 48.58 to close... More »

MORE ABOUT:
McDonald's • consumer • Dow Jones • American Express • Nasdaq • Capital One • Tiffany • MasterCard • Discover • S&P 500

American Express Feels Credit Crunch

With defaults on rise, company taking hefty fourth-quarter charge

Jan 10, 08 7:33 PM CST
(Newser) - With consumer spending slowing and credit defaults on the rise, American Express said today it will take a fourth-quarter charge of $275 million to build up its charge-card reserves, the Wall Street Journal reports. The company, which cited housing turmoil as a contributing factor, also predicted earnings to come in... More »

MORE ABOUT:
housing market • American Express • consumer spending • credit card • credit card loans

Visa Settles $2.25B AmEx Suit

Antitrust settlement could be largest ever

Nov 8, 07 8:28 AM CST
(Newser) - In what could be the largest settlement ever to resolve an antitrust lawsuit, Visa has agreed to pay American Express up to $2.25 billion for blocking member banks from offering rival credit cards, the AP reports. The deal helps clear the way for Visa’s IPO, expected early in... More »

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lawsuit • American Express • civil lawsuits • Visa • MasterCard

Black Fortune 500 CEOs in Short Supply

Departure of Merrill, Time Warner chiefs knocks total to four

Nov 6, 07 9:03 AM CST
(Newser) - The departure of Dick Parsons from Time Warner and Stan O'Neal from Merrill Lynch has reduced the already sparse population of African-American CEOs running Fortune 500 companies to an extremely paltry four, reports AP. CEOs of any color have a short shelf life, and the small numbers of black chiefs... More »

MORE ABOUT:
Time Warner • African Americans • CEO • Merrill Lynch • Fortune 500 • American Express • Sears Holding • Aetna

21 - 40 of 42 Stories | << Prev 1 2 3 Next >>


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