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.
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%.
April 27, 1999 |
American Express Co. Chairman and Chief Executive Harvey Golub said Monday that he'll retire in two years, speeding Ken Chenault's ascension to the top of the world's biggest charge card issuer and travel agency. Chenault, 47, currently president and chief operating officer, will take over in April 2001, three years earlier than expected, putting an African American CEO at the helm of a Dow Jones industrial average member company.