May 5, 1999 |
American Express Co. has teamed up with Fidelity Investments on a new charge card that will be tied to customers' brokerage accounts. The new American Express Fidelity Gold Card, which will be available in June, will directly debit purchases and cash withdrawals from customers' brokerage accounts and provide one consolidated statement. The card's $75 annual fee will be waived for those with a minimum of $30,000 in their Fidelity cash-management accounts.
October 28, 1997 |
American Express Co. said its third-quarter profit reached a record $524 million, driven by higher charge card revenues and an increase in managed assets. The New York-based financial services and travel company said net income for the three months ended Sept. 30 rose 14% to $524 million, or $1.10 a share, from $458 million, or 95 cents, a year ago. The earnings narrowly beat the expectations of a group of polled analysts, who had put American Express' earnings at $1.09 a share. Revenue rose 9.
November 8, 2000 |
Visa International Corp. sued American Express Co., claiming the credit card rival is deceptively promoting itself as a sponsor of the upcoming holiday movie "How the Grinch Stole Christmas." Visa said American Express launched an "unjustified and deceptive 'ambush' marketing campaign" aimed at misleading consumers. The campaign includes direct mailings to American Express cardholders that prominently feature the Grinch character, Visa said.
July 23, 2002 |
American Express Co. said second-quarter profit more than tripled from the same period a year ago, when the travel and credit card giant's earnings were reduced by write-offs. Shares of American Express fell $2.68 to $28.97 on the New York Stock Exchange. The 8.5% drop was the biggest decline since Sept. 18, after Chief Executive Ken Chenault said American Express probably wouldn't beat analysts' profit forecasts for 2002. The largest U.S. travel agency and fourth-largest U.S.
February 6, 1992 |
Organizers of the Winter Olympics said Wednesday that they are suing American Express Co. for an "ambush" advertising campaign involving the company's charge card. New York-based American Express has run ads that suggest that it is an Olympic sponsor, said Dick Pound, chairman of the International Olympic Committee's marketing commission. However, it is rival Visa International that paid $20 million to be the official credit card of the Albertville games, which begin Saturday.
March 6, 1993 |
American Express Co. said Friday that it will sell the bulk of its stake in its information services unit in a public offering for more than $1 billion. American Express said it will sell 32 million common shares of First Data Corp. at $35.125 each, which was Thursday's closing price on the New York Stock Exchange. "American Express intends to use the sale proceeds for general corporate purposes," the travel and financial services company said in a statement.