American Express

The Covid-19 pandemic has decimated the world’s travel industry and fatally crippled a deal calling for the Carlyle Group Inc. and Singapore sovereign-wealth fund GIC Pte to buy 20% of American Express Global Business Travel, according to unsealed lawsuits.

Carlyle Group Inc. and Singapore sovereign-wealth fund GIC Pte. Ltd. are backing out of a deal to buy a stake in American Express Global Business Travel, which has suffered losses from the Covid-19 pandemic.

American Express will delay the EMV fraud liability shift due to complications from the coronavirus, following reports that Visa has made a similar concession.

Many banks are slashing their spending. Others are changing their messaging strategies. And those banks that partner with pro sports teams are stuck in limbo, since it remains unclear when games will resume.

More companies will be eligible to apply for the four-year loans, including those with high debt loads; four-year loans will be offered to European banks with rates as low as minus 1% as the eurozone economy tanks.

The ratings firm also took negative action with respect to Ally, Synchrony, Discover, Sallie Mae and Navient, citing the impact that the coronavirus crisis is having on their revenues and profits.

"We're now in a different world," Stephen Squeri, chairman and CEO of Amex, said during the card brand's first-quarter earnings call.

Hilton Worldwide Holdings Inc. is raising cash by selling loyalty points and offering bonds as the company rides out the coronavirus crisis.

As retailers search for ways to reduce shoppers’ exposure to coronavirus, smaller merchants are reaping some unexpected improvements in checkout speed and convenience.

It was less than three months ago, though it seems like a lifetime. Mastercard CEO Ajay Banga welcomed progress in the trade dispute between the U.S. and China, but with a caveat. The good news wouldn't last if the coronavirus became a pandemic.