American Express Company has reported first-quarter net income of $1.4 billion, up from $1.3 billion a year ago. “We are off to a good start to 2014, thanks to disciplined expense control, credit metrics near their historic low, higher revenues and a strong balance sheet that allows us to return a substantial amount of capital
Universal Studios and American Express have announced an expanded multi-year agreement that brings Universal’s theme parks and filmed entertainment together with American Express to create exclusive consumer benefits and experiences. The agreement also enables American Express, for the first time, to acquire new Card Members directly through Universal theme parks and websites. While American Express
American Express Company has announced that it has signed an agreement to create a joint venture for its Global Business Travel division (“GBT”). Under the agreement, American Express will share ownership of the joint venture with an investor group led by Certares. In the proposed transaction, American Express will separate its GBT operations into a
American Express, has announced several new technology initiatives to promote financial inclusion in the U.S. These include a new program from American Express Ventures to fund startups working toward financial inclusion, the establishment of a Financial Innovation Lab, and sponsorship of a documentary. The documentary will spotlight how technology and new thinking can begin to
American Express has introduced the Amex EveryDay Credit Card, a new no annual fee credit card that puts a twist on the traditional rewards program. The Card will be available by April 2, 2014. This new kind of credit card from American Express rewards Card Members for how often they use the Card, and not
American Express Company has announced two key appointments in its global Technology organization: Brian Saluzzo, as Senior Vice President, Global Infrastructure; and Nik Sathe, as Senior Vice President and Chief Technology Officer (CTO), both reporting to Marc D. Gordon, Executive Vice President and Chief Information Officer. The appointments were effective in late 2013. “I am
American Express OPEN has announced the launch of the Enhanced SimplyCash Business Credit Card, a small business card that gives entrepreneurs the flexibility to choose 3% cash back in one of seven business-related expense categories. In addition, the Card will continue to give small business owners: 5% cash back at U.S. office supply stores and on wireless
American Express Company has reported fourth-quarter net income of $1.3 billion, up from $637 million a year ago. Diluted earnings per share rose to $1.21, from $0.56 a year ago. Excluding expenses associated with the merchant litigation settlement agreement announced in late December, fourth-quarter adjusted net income was $1.3 billion, or $1.25 per share. The
American Express Company has announced that certain of its subsidiaries have reached settlements with several regulatory agencies to resolve previously disclosed regulatory reviews of marketing and billing practices related to several products that have been discontinued. The settlements involve American Express Travel Related Services Company, Inc., American Express Centurion Bank and American Express Bank, FSB.
American Express has said that it has agreed to settle two putative antitrust class actions filed by U.S. merchants that challenged the company’s Card acceptance agreements. The settlement agreement will address certain merchant concerns, while helping to ensure that American Express Card Members are treated fairly at the point of sale. It will also limit
