American Express Company

American Express Co posted a better-than-expected quarterly profit on Tuesday as higher online spending cushioned a slump in demand for travel and entertainment during the COVID-19 pandemic.

Federal investigators are probing business-card sales practices at American Express Co, the Wall Street Journal reported on Thursday, citing people familiar with the matter. (https://on.wsj.com/3oqlUMK)

American Express Co <AXP.N> said on Thursday it was investing $1 billion to advance racial and gender equality, the latest in a line of U.S. companies pledging to promote social justice after a series of race-related protests earlier in the year.

American Express Co on Friday warned that business travel spending would not pick up before early 2022 after reporting underwhelming third-quarter profit due to weak spending on travel and entertainment by its card users.

Credit card issuer American Express Co reported a nearly 40% slump in quarterly profit on Friday, hurt by lower spending by its users, while it also set aside $665 million for potential defaults.

American Express <AXP.N> said on Monday it would buy fintech lender and platform Kabbage in a move aimed at bolstering its cash management offering to small businesses.

American Express Co <AXP.N> is in advanced discussions to buy online small-business lender Kabbage Inc in an all-cash deal, Bloomberg News reported https://www.bloomberg.com/news/articles/2020-08-10/amex-said-to-be-in-advanced-talks-to-buy-softbank-backed-kabbage?sref=vEQJzSks...

British Airways-owner International Airlines Group <ICAG.L> said American Express would pay it 750 million pounds ($955 million) to renew their partnership, providing a welcome boost to the airline's finances at a time when it is burning through cash.

China's central bank has given the final nod to a network clearing license for an American Express <AXP.N> joint venture, allowing it to be the first foreign credit card company to launch onshore operations in China.

* SOROS FUND MANAGEMENT DISSOLVES SHARE STAKE IN AFLAC INC - SEC FILING

* AMERICAN EXPRESS CO SAYS CEO STEPHEN SQUERI'S FY 2019 TOTAL COMPENSATION WAS $23.8 MILLION VERSUS $17.3 MILLION IN FY 2018 - SEC FILING

American Express <AXP.N> said http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20200317:nBwbFGJpRa on Tuesday spending volumes fell at the end of February and well into March as the coronavirus pandemic wreaks havoc on consumer spending...

China's central bank said Wednesday that it had accepted an application from a unit of American Express Co <AXP.N> (AmEx) regarding starting operations in China.

Credit card issuer American Express Co <AXP.N> reported a higher-than-expected quarterly profit that highlighted the health of the U.S. consumer even as fears mount that a manufacturing-led weakness could spread to the broader economy.

Credit card issuer American Express Co said on Thursday its quarterly profit fell 5 percent, as it spent more on its rewards program.

American Express Co <AXP.N> missed Wall Street's fourth-quarter profit estimates on Thursday, as the rate of customer spending slowed despite a strong U.S. holiday sales season.

American Express Co reported a fourth-quarter profit compared to a loss in the same quarter a year ago, when the company took a charge of $2.6 billion due to a change in U.S. tax laws.

Activist investor Daniel Loeb's Third Point LLC on Friday disclosed a new position in American Express Co <AXP.N>, saying the market under-appreciates the strategic pivot of the company.

American Express Co has received subpoenas from the U.S. Department of Justice and inquiries from other federal agencies related to its foreign exchange international payments business, the credit card issuer said on Tuesday.