Amex sees $120M charge; axes 2,000
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American Express said Friday it expects to record a fourth-quarter pre-tax restructuring charge of up to $120 million and cut 2,000 jobs.
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SAN FRANCISCO (CBS.MW) -- American Airlines parent AMR (AMR) estimates its third-quarter fuel costs will be $300 million higher than the year-ago period, pushing its full-year expenses to $1 billion.
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Investors and consumers were warned the bad news would come, and it came as predicted. AMD took a stunning charge of $1.6 billion in one quarter, to account for value from the ATI merger it now realizes may not materialize.
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Citigroup Inc. , the world's biggest financial-services company, will pay $15.2 million to settle claims its brokers coaxed BellSouth Corp. workers into early retirement by exaggerating projections for investment returns, said NASD, the main US brokerage regulator.
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American Express said yesterday that record spending had fueled a 12 percent jump in profit.
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American Express Co. AXP.N said on  Monday quarterly earnings rose 14 percent, matching analysts'  expectations, on record cardholder spending, increased card  borrowing and lower loan losses.
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Your credit card companies want to charge you more.
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American Express Co , a credit card issuer and network, posted weaker-than-expected second quarter results on Monday, as its funding costs rose and it set aside more money for credit losses.
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Bank of New York Co. Inc. is talking to US prosecutors about paying a $24 million penalty in order to avoid a criminal indictment on charges of failing to report suspicious activity at
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The restatement is one of the biggest for an American company, although it falls short of the $11 billion charge taken by WorldCom in 2002.
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Asia-focused bank Standard Chartered Plc  said on Tuesday it is buying American Express Bank (AEB) for about $860 million to help "turbo charge" the growth of its recently launched private banking business.
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American Express will receive a payment of about $2.1bn from Visa after it sued the credit card giant.
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Bank of Montreal  said on Wednesday it will cut about 1,000 jobs and take a C$135 million ($115 million) charge in the first quarter as it tries to rein in costs to help meet its 2007 financial targets, a move that took analysts by surprise.
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American Express yesterday said it was seeking &quot;billions of dollars&quot; in damages from Visa and MasterCard over alleged &quot;illegal and anticompetitive practices&quot;.
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American Express Co (NYSE: AXP) said this morning that it has filed a law suit in the US District Court in Manhattan against Visa, Mastercard and eight major
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Time Warner Inc. plans to take a  pretax charge of about $60 million in the current fourth  quarter for severance costs stemming from job cuts at its  America Online unit, the company said in a securities filing on  Friday.
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American Express Co said it will cut 2,000 jobs, or 2.5 per cent of its work force, in a restructuring designed to save more than USD 75 million a year before taxes.