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Pallavi Dewan

AmEx profit tops estimates as record splurge on rewards woos customers

Apr 18 2018

Credit card issuer American Express Co easily topped Wall Street targets for quarterly profit as record investments in card rewards and a strengthening U.S. economy contributed to higher customer spending.

S&P cuts Wells Fargo's credit ratings on regulatory risks

Feb 07 2018

Credit-rating agency Standard & Poor's on Wednesday cut Wells Fargo & Co's credit ratings, days after the U.S. Federal Reserve imposed regulatory restrictions on the bank.

Cost control helps CME Group profit beat estimates

Feb 01 2018

CME Group Inc on Thursday reported better-than-expected quarterly profit as a tight leash on costs helped the world's largest futures exchange counter a dip in clearing and transaction fees as fewer people traded during the quarter.

Tax overhaul leads AmEx to first loss in 26 years, buyback suspension

Jan 18 2018

Credit card issuer American Express Co posted its first quarterly loss in 26 years and said it would not buy back shares for the next six months, both due to the impact of the recently enacted U.S. tax reform.

PNC Financial fourth quarter profit more than doubles

Jan 12 2018

PNC Financial Services Group Inc reported a better-than-expected quarterly profit on Friday, helped by higher interest income and consumer loan growth and the U.S. regional lender also forecast mid-single digit loan and revenue growth for 2018.

Kenneth Chenault to step down as AmEx CEO after nearly 17 years

Oct 18 2017

American Express Co said its chairman and chief executive Kenneth Chenault would step down early next year, ending a nearly 17-year tenure at the helm of the No. 1 U.S. card issuer by spending.

Mastercard beats profit estimates on higher consumer spending

Jul 27 2017

Mastercard Inc , the world's second-biggest payments processor, joined bigger rival Visa Inc on Thursday in reporting a better-than-expected quarterly profit as people spent more using credit and debit cards.

AmEx profit dips as it splurges on customer rewards

Jul 19 2017

American Express Co's profit declined 33 percent in the second quarter, hurt partly by higher expenses, as the card company spent heavily on rewards to woo customers amid intense competition from big U.S. banks.

Spotify, valued at $13 billion, to launch direct listing on NYSE: sources

May 12 2017

Music streaming service Spotify, most recently valued at $13 billion, will be the first major company to carry out a direct listing on the New York Stock Exchange when it goes public later this year or early next year, two sources familiar with the situation said on Friday.

AmEx profit beats as higher spending blunts partnership losses

Apr 19 2017

American Express Co's first-quarter profit fell less than expected as its card members spent more and the company expressed more confidence over its full-year results, amid fierce competition in the industry.

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