Category: American Express

American Express Sees ‘Mixed Signals’ in Economy but Consumer Spending Still Strong

October 22, 2022
American ExpressBusiness & MarketsCompaniesconsumer spendingeconomyinflationMarketspersonal financerecessionUS
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The CFO of American Express said that consumer spending trends remain strong, despite acknowledging “mixed signals” in the economy. AmEx reported a 21 percent rise in cardmember spending in the previous quarter, as the goods and services and the travel and entertainment categories witnessed growth. The financial services company posted on Oct. 21 better-than-expected earnings…

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Gun Control Group Wants Credit Card Companies to Flag Firearm Purchases

August 30, 2022
American ExpressammunitionBusiness & MarketsCompaniescredit card companiesfirearm purchasesGabby GiffordsGun ControlMarketsMasterCardshooting incidentsSocial Issuessporting goodsUSUS News
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A gun control advocacy group is seeking to make credit card companies flag “suspicious purchases” of firearms, suggesting that restricting such activities might end up saving lives. “The shooters in at least five mass shootings have stockpiled guns and ammo using credit cards and killed 145 people. @Visa, @Mastercard, @americanexpress have the power to flag…

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American Express 2Q Profits Fall 14 Percent Despite Higher Cardmember Spending

July 23, 2022
American ExpressBusiness & MarketsCompanies
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NEW YORK—American Express’ profits fell 14 percent in the second quarter, the company said Friday, as higher expenses more than offset record spending on its network by its cardmembers. AmEx had profit of $1.96 billion, or $2.57 a share, down from $2.28 billion, or $2.80 a share, in the same period a year earlier. That…

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AMEX Joins Major Card Companies in Freezing Russian Market

March 6, 2022
American ExpressBusiness & EconomyCompaniesEuropeMarketsRussiaRussia-Ukraine WarWorld
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American Express announced on Sunday it is suspending its services in Russia. In a memo, company chairman and CEO Stephen J. Squeri said, “In light of Russia’s ongoing, unjustified attack on the people of Ukraine, American Express is suspending all operations in Russia.” The suspension extends to neighboring Belarus. “Globally issued American Express cards will no…

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American Express Q4 Profits Jump 20 Percent on Card Spending

January 27, 2022
American ExpressBusiness & EconomyCompaniesJumpprofitsQ4
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Credit card company American Express said Tuesday that its fourth-quarter profits rose 20 percent from a year earlier, as eager consumers spent record levels of money during the holiday season on the company’s namesake cards. AmEx posted a profit of $1.72 billion, or $2.18 a share, up from $1.44 billion, or $1.76 a share, a…

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Swafford Eagles16th, Wins AmEx for Second Time in 5 Years

January 25, 2022
American ExpressGolfPGASports
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LA QUINTA, Calif.—Hudson Swafford thought about his late father Sunday at PGA West in his second victory in The American Express in five years. “I had a couple of moments where I looked up and knew that he was following and knew that he was there,” Swafford said. “I could just hear his voice saying,…

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NTD Business Full Broadcast (April 23)

April 23, 2021
American ExpressArchivedbitcoinLive VideosNewsNews VideosNTD BusinessTurkeyVideo
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American Express reports latest earning results, revenue fell last quarter but its net income rose, what helped? Crypto chaos ensues. Bitcoin drops to its lowest level since last month. And it’s not alone. The CEO of an exchange in Turkey flees the country and might have taken billions of dollars with him.