June 28, 2000 |
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.
June 10, 2000 |
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.
November 26, 1999 |
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.
October 8, 1999 |
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.
October 6, 1999 |
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.
September 10, 1999 |
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.
August 12, 1999 |
Costco Cos. and American Express have teamed up to issue co-branded credit cards that offer cash rebates at Costco's warehouse discount stores. Starting in November, consumers with qualifying credit histories can buy American Express cards that double as Costco membership cards, the companies said. Businesses with Costco accounts will be able to obtain corporate cards.
July 27, 1999 |
EBay Inc. reported a better-than-expected profit for the second quarter as revenue more than doubled, despite repeated troubles with the online auctioneer's computer server that stymied would-be bidders. EBay said its profit before merger- and compensation-related expenses was $5.1 million, or 4 cents a share, down slightly from $5.2 million, or 5 cents, a year earlier. Revenue soared to $49.5 million from $19.5 million.
June 18, 1999 |
Small business owners have long relied on credit cards to help finance their fledgling ventures, only to drown under the weight of humongous interest payments. A little relief is on the way. The American Express Co. has introduced an Optima Card for small businesses with a 9.99% interest rate, down from 15.9%.