Tuesday, Jul 22, 2008
Past-due loans spike at the financial services giant as even more affluent U.S. consumers start to show signs of economic distress.
CNN: American Express feels consumers' pain
American Express (AXP, Fortune 500) delivered some ugly news after the market closed Monday, posting a smaller-than-expected second-quarter profit and withdrawing its 2008 earnings guidance, saying the economic environment "has weakened significantly" since it offered up its financial projections back in January.
Posted by mark @ 10:10 AM (200 views) Add Comment
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