Welcome to our dedicated page for American Express Company news (Ticker: AXP), a resource for investors and traders seeking the latest updates and insights on American Express Company stock.
American Express Company (AXP) is a prominent multinational financial services corporation headquartered in New York City. Known for its specialization in payment cards, American Express is one of the most valuable companies globally and a key component of the Dow Jones Industrial Average.
Operating in around 130 countries, American Express provides a variety of charge and credit card payment products to both consumers and businesses. Its business is divided into three main segments: Global Consumer Services, Global Commercial Services, and Global Merchant and Network Services. Beyond its payment cards, the company offers expense management tools, consulting services, and business loans. The merchant payment network operated by American Express is highly profitable, facilitating transactions worldwide.
In recent news, American Express has agreed to sell its subsidiary Accertify to Accel-KKR, a private equity firm. Accertify is known for its advanced fraud prevention, chargeback management, and payment gateway solutions. This strategic move is expected to enable Accertify to accelerate its growth and product innovation in the fraud prevention market as an independent entity.
American Express continues to innovate and expand its services, adapting to the growing digital economy. The company remains committed to providing customers with access to products, insights, and experiences that enrich lives and build business success.
American Express (NYSE: AXP) has initiated an Exchange Offer for its 3.300% Senior Notes due May 3, 2027. The offer involves exchanging the existing Credco Notes with new AXP Notes. The total consideration for the exchange is detailed in the offering memorandum, with an aggregate principal amount outstanding of
American Express Company (NYSE: AXP) announced its participation in two upcoming investor conferences. On November 10, 2021, CFO Jeffrey C. Campbell will engage in a virtual chat at the Bank of America Banking and Financials Conference at 9:40 a.m. (ET). On December 7, 2021, CEO Stephen J. Squeri will speak in-person at the Goldman Sachs US Financial Services Conference starting at 9:20 a.m. (ET). Live webcasts of both events will be available on the American Express Investor Relations website, with replays accessible post-event.
American Express (AXP) launched a new fully digital Business Checking account for small and mid-sized enterprises, offering a competitive APY of 1.1% on balances up to $500,000. Customers can earn a $300 welcome bonus and enjoy no monthly fees or minimum balance requirements. The account integrates with existing American Express Cards and includes features like 24/7 customer support and access to a vast ATM network. Starting in early 2022, users will also earn Membership Rewards points, enhancing the value for business owners.
The Amex Trendex report indicates changing holiday spending habits among US consumers. Nearly 48% have begun holiday shopping early due to anticipated supply chain issues. 61% of employed consumers appreciate the flexibility of remote work for avoiding crowded travel days. Most consumers plan to celebrate with family, with 71% expecting more in-person gatherings. Additionally, 38% intend to spend more this season, reflecting a shift towards supporting small or local businesses (81%) and sustainability (64%).
American Express Company (NYSE: AXP) reported strong Q3 results with net income of $1.8 billion, or $2.27 per share, up from $1.1 billion, or $1.30 per share, year-over-year. Total revenues rose 25% to $10.9 billion, driven by record Card Member spending, notably in travel and entertainment. Provisions for credit losses showed a benefit of $191 million, in contrast to a $665 million expense last year. Despite a 29% increase in operating expenses to $8.7 billion, the company remains confident in sustaining growth and reaching high-end EPS expectations for the year.
American Express (NYSE: AXP) and Goldman Sachs Transaction Banking are collaborating to launch a cloud-based payment solution aimed at simplifying B2B payments for large corporations. This integrated platform will support multiple payment options and feature data analytics for enhanced efficiency. The solution addresses the complexities faced by corporate clients in managing payment transactions, aiming to modernize outdated processes. It includes features like virtual cards, an Intelligent Payments Engine, and real-time payment tracking, with general availability expected in early 2022.
American Express (AXP) launched the "Backing International Small Restaurants" grant program with a commitment of $500,000 to support independent eateries owned by underrepresented groups in London, Mexico City, Sydney, Tokyo, and Toronto. Each selected restaurant can receive up to $15,000 for pandemic recovery and improvements. This initiative follows the previous $1 million program aimed at historic restaurants in the U.S. American Express partners with the IDA Foundation for implementation.
American Express Company (NYSE: AXP) has announced dividends on its Series B and D Preferred Shares. The quarterly dividend for Series B, which has a 5.200% Fixed Rate, is set at
American Express (NYSE: AXP) has launched a new American Express Business Platinum Card® in the U.S., offering over
American Express has launched its first Centurion Lounge in Europe at London Heathrow Airport, Terminal 3, enhancing its airport lounge portfolio. This lounge features over 7,000 square feet of bespoke design and amenities from award-winning local partners, including a menu by Michelin-Star Chef Assaf Granit and exclusive products from Soapsmith. The lounge promotes local culture through its offerings and includes environmentally friendly features like solar panels. This expansion supports American Express's commitment to providing premium travel experiences for its Card Members.
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