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.

Citi is beefing up leadership in its consumer card lending operations by recruiting Chase exec Pam Habner — credited with engineering the success of Chase’s Sapphire Reserve card — and former Citi exec Chris Fred, who will return after several months of working at Goldman Sachs on Apple Card products.

In the battle for premium cardholders, American Express Co.’s latest weapon is the scent of leather and ear reflexology.

The Supreme Court will hear arguments on the agency’s structure; the company, desperate after losing Costco’s business, allegedly pressured and misled applicants.

With health organizations warning of a global outbreak, banks are starting to assess the risks to their bottom lines.

With the world gripped in panic over the rapid spread of the coronavirus — and the stock market falling in response — payments companies have been left to speculate on what it all means to their operations in an increasingly global economy.

The card networks' single "click to pay" button — an implementation of Secure Remote Commerce — is drawing some negative attention from merchant groups and independent networks that see it as a way to steal volume from alternative payment providers.

The New York-based credit card issuer is expanding its board to 13 members with the addition of Karen Parkhill.

American Express has focused the past few years on overcoming a couple of its stigmas — that not all U.S. merchants accept Amex cards, and that younger cardholders were not intrigued by the status of holding an Amex card.

The city would join San Francisco and Philadelphia among cities that prohibit stores and restaurants from only accepting electronic payments.

Ally and other direct banks continue to report strong deposit growth even as they slash the rates they pay to depositors. The trend suggests that the online-only approach has more staying power than its detractors believed.