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BUSINESS
November 8, 2000 | Bloomberg News
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.
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BUSINESS
October 31, 2000 | Associated Press
In a sweeping tax-evasion probe, the IRS was granted access to thousands of MasterCard and American Express credit card accounts held by U.S. taxpayers in three offshore banking havens. U.S. District Judge Adalberto Jordan agreed with the IRS that cardholders may have violated U.S. tax laws and that their identities are not readily available from other sources.
BUSINESS
August 23, 2000 | Reuters
Shares of Ameritrade Holding Corp. (AMTD) rallied Tuesday amid talk of a possible sale of the No. 5 U.S. Internet brokerage. "We hear that there's a rumor of a potential acquisition by American Express [AXP]," said Robertson Stephens analyst Scott Appleby. Officials from Ameritrade were not immediately available for comment, and a spokeswoman for American Express Co., which already has an online brokerage operation, said the company does not comment on market speculation or rumors.
BUSINESS
June 28, 2000 | Reuters
American Express Co. reorganized into four main business units, in advance of President Kenneth Chenault taking over as chief executive early next year. The new units are global financial services, U.S. consumer and small-business services group, global corporate services, and global establishment services and travelers check group.
BUSINESS
June 10, 2000 | Associated Press
American Express Co., the international banking company best known for its credit card and travel businesses, has obtained permission to operate a federally insured savings bank specializing in trust services. The Office of Thrift Supervision, part of the Treasury Department, announced its approval for American Express to open the bank, to be named American Express Personal Trust Services, or AMEX Bank.
BUSINESS
May 25, 2000 | Associated Press
Priceline.com Inc. is expanding its "name-your-price" sales pitch to long-distance phone calls. The company also said it has entered a joint marketing alliance with American Express for a new Web portal it's developing to sell long-distance and other business services to small companies. American Express will market the Priceline portal to its more than 2 million small-business customers, offering them a 5% discount on purchases.
BUSINESS
November 26, 1999 | From Bloomberg News
U.S. businesses are spending air-travel dollars more effectively, paying just 2% more for flights in the third quarter than a year earlier even though business fares rose an average 6%, according to an American Express Co. survey. The gap between the lowest unrestricted business fares bought at the last minute and those booked earlier using available discounts grew to its widest in three years during the quarter, the American Express Business Airfare Index also showed.
BUSINESS
October 8, 1999 | From Bloomberg News
American Express Co.'s new Blue credit card, aimed at busy Internet users, is taking as many as 40 days to get to applicants because the company failed to anticipate the response. The company began sending the first cards to customers on Wednesday, four weeks after introducing it, and some early applicants won't get their cards for another two weeks. The average wait for a new card is about 14 days, according to industry consultants.
BUSINESS
October 6, 1999 | Bloomberg News, Reuters
Online brokerages are fighting for customers in a crowded marketplace, and now one unlikely contender is raising the stakes by promoting the ultimate teaser--free stock trading. Financial services powerhouse American Express Co., which stumbled with its first foray into online trading in 1996, started a fresh price war Tuesday, announcing a plan to offer free Web trading starting later this fall to investors with more than $100,000 in their accounts.
BUSINESS
September 10, 1999 | Reuters
American Express Co. is launching a credit card, called Blue, with features designed to make shopping over the Internet more secure. The Blue card has a traditional magnetic stripe for shopping in stores, and it also has a so-called smart chip that will hold personal information, such as shipping addresses and account data, that a cardholder can give online merchants in a secure manner.
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