Challenges Could Make A Fiercer American Express

It's a tricky time for the world's largest corporate card provider. American Express' recent financial performance is "disappointing," said chairman and CEO Kenneth Chenault. An antitrust suit with potentially wide and expensive implications still is pending. Amex recently lost a couple big consumer co-branding partnerships. Average fees charged to merchants are dropping, and will keep doing so as the company pushes for wider acceptance. Competition, it says, is "increasingly intense."

Something has to give.

Amex last week laid out plans for cutting $1 billion in annual expenses by the end of next year. It's not clear . . .

The full content is available to subscribers

Author: David Jonas

David Jonas in 2006 co-founded business media firm ProMedia.travel after ten years as a journalist with Business Travel News. David rejoined BTN in 2010 as executive editor when its parent company acquired ProMedia, and in 2014 co-created The Company Dime. David has a bachelor's degree in communications from Cornell University.