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Among the earnings stories for Thursday, Oct. 22, from AP Financial News:
American Express Co. reported its eighth straight quarter of falling profits on Thursday as consumers spent and borrowed less.
American Express Co. said Monday its president, Alfred F. Kelly Jr., will step down early next year.
Some American Express card members' accounts may have been compromised by an employee's recent theft of data, the company said Thursday.
American Express and Discover customers will soon be free of fees for charging over their credit limits.
American Express said Wednesday its rate of losses from credit card loans is slowing.
American Express Co. said Wednesday it repurchased outstanding warrants issued to the government as part of the Troubled Asset Relief Program for $340 million.
When Carla DeLuca canceled her room at the W Hotel Union Square in New York a week before her arrival, the hotel decided to ding her for a night’s stay anyway.
American Express Co. said Thursday its earnings fell 48 percent in the second quarter, but the credit card lender says there are glimmers that recent trends of lower card use and slow repayment may be improving.
American Express Co. said Wednesday it repaid the $3.39 billion it received last fall as part of the government's $700 billion bank investment program.
American Express says it has repaid the $3.39 billion it received last fall as part of the government's $700 billion bank bailout program.
American Express says it will sell $500 million worth of its common stock in a public offering, and use the proceeds in part to pay back government bailout funds.
American Express said Monday it is eliminating about 4,000 jobs as part of a plan to slash another $800 million in costs for the remainder of the year.
American Express says its earnings fell 63 percent in the first three months of the year, marking a sixth-straight quarter of profit declines at the credit card lender.
American Express Co. disclosed data on Wednesday that suggested credit card defaults may be stabilizing. The news sent investors clamoring for financial stocks in late day trading and helped lift the broader market.
The chief executive of American Express Co. received a pay package worth nearly $43 million in 2008, although much of that consists of stock and option awards currently of little value given the sharp decline in the credit card company's stock price.
American Express Co. said Monday that its profit tumbled 79 percent in the fourth quarter as cardmembers cut back their spending amid the harsh economy and the company took a big severance-related charge.
American Express Co. said Tuesday it received preliminary approval to obtain $3.39 billion in capital as part of the government's $700 billion bank investment program.
American Express has received a request from the U.S. Department of Justice for information regarding the credit card company's policies related to merchant surcharging, according to a regulatory filing Friday.
In a stark acknowledgment of the tough times ahead in the credit card industry, American Express Co. said Thursday that it plans to cut 7,000 jobs, or about 10 percent of its worldwide work force, in an effort to slash costs by $1.8 billion in 2009.
American Express Co. said Monday its profit fell 24 percent in the third quarter as cardholders restrained their spending and had more trouble paying off debt.
As the global credit crunch reaches from Wall Street to Main Street, guilt by association has become a tool for evaluating the creditworthiness of American Express customers.
In a sign that even wealthier consumers are feeling the pinch of the credit crisis, American Express Co. said its second-quarter profit tumbled as it set aside more money to cover souring loans across all its portfolios.
So how old is John McCain? Six-packs, automatic transmissions and the American Express card were all introduced after he was born — not to mention computers, which McCain admits he doesn't use.
Fed Proposes Tougher Credit Card RulesCredit, I predict, will be a thing of the past. Credit is a want, not a need. It should be temporary and not forever.
Why our country (USA) is in trouble!A Washington, DC airport ticket agent offers some examples of why our country is in trouble!
Regaining Trust: Big Companies Hire Marketing FirmsAmerican Express will have the most difficult time regaining consumer trust. This company has repeatedly buried their nose in the sand and turned a deaf ear to the complaints.
Florida Republican Party to cut up American Express cardsPiece of advice: Don't say "American Express" around Republican Party of Florida Chairman Jim Greer
American Express Credit Card Theft Cases Taken to Grand JuryInvestigators said one of the suspects got the numbers while working for American Express. This is the second case in less than 90 days where American Express employees have stolen data from the company. It appears they have very lax security internally.
Cocaine Traces Found in Up to 90% of US Paper MoneySomehow I did not overly react to this news. I found myself biting my lower lip and chuckling, "well a lot of money does change hands on both Wall Street and in Washington."
Berkowitz Dumps American Express - Holdings Reduced 73% The newest Oracle dumps a large percentage of AXP. What's that say?
American Express Allows Derogatory Jab on OpenForum WebsiteKing of the uber politically-correct, American Express allows a common derogatory term for the mentally ill to be posted in a blog title on their branded website.
Amex cardholders' data stolen by employee months ago - just now notifying cardmembersA lonely entry sits in a security database about the employee data theft at American Express in Phoenix. Phoenix houses most of the technology workers, contractors and is home to the primary data center.
Berkshire Underestimated the Risks of Falling StocksEven the Oracle and his picks are suffering the effects of the recession.
Perfect Timing American Express: Penalty VanishingYesterday, quite a few US credit card product holders of American Express received the "we're raising everything on your account" letters. That was August 10th.
American Express 2Q Net Down 48%; US Card Ops In Red Another near-record loss for this plastic provider. Although monumental losses were reported, the stock is holding steady and speculatively attributed to the primary shareholder: Buffett.
American Express Axes Employee Pension Payments Next 18 MonthsAmerican Express has just announced the suspension of pension contributions for all its UK employees for the following 18 months.The reason that the company gave for suspending payments was a very simple one: they had become unaffordable.
California Sues Over Credit Ratings of SecuritiesMoody's Investors Service, Standard & Poor's and Fitch — "made negligent misrepresentation" to the pension fund, which provides retirement benefits to 1.6 million public employees in California.
Ameriprise Pays $17.3M To Settle SEC Charges Isn't that nice when the former parent company owner leaves you in a lurch and you get stuck with the bad karma? That's exactly what has happened to Ameriprise.
Lawsuit against Former Subsidiary of American Express Bank International for Negligent Participation in Wake of Madoff ScandalThere were inklings and hints of Madoff connections to American Express, whether it be former or present. The iceberg is melting, folks.
Quite Colorful - American Express Black Card HolderHe claims the title "Baron" and obviously flaunts his extravagance, however Richard von Houtman has quite a colorful background as the article outlines Is this a trend concerning the personality type of an individual who holds a Black Card? Bernie Madoff had one, too.
American Express worker's £67,000 spending spree to get revenge on firm 'for ruining his life'This seems to be an unfortunate trend for American Express this week making headlines with disgruntled workers for the plastics giant.
Former American Express Database Administrator Nabbed in Phoenix - Credit Card StingWhat do you get when you allow a database administrator full access to cardmember data? You guessed it. Theft. Former American Express employee, Timothy Curley, was arrested in Phoenix at Sky Harbor Airport.
Credit Card Default Rate Hits Record HighThis should have an impact on the credit card stocks this week.
Courtney Love Battles With American ExpressI think Courtney is going to give American Express hell.
What Small Business Can Do When Lines of Credit Are TrimmedLast November he received a letter from American Express stating the business' $90,000 line of credit had been cancelled because the entire program had been shut down. Other financial institutions followed suit and essentially hurt the credit worthiness of his business.
Credit Card Reform: Not Good For All"The thing that bothers me," he added, "is that someone with good credit who hasn't missed a payment, is carrying a balance but has been paying it religiously – traditionally that customer was the bread and butter of the industry.
Are You Responsible With Your Creditcard? Never Carry A Balance? If So, Your Plastic Is About To Get ExpensiveCredit cards have long been a very good deal for people who pay their bills on time and in full.
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