AmEx to cut spending by $3 billion to survive virus-hit economy

April 24, 2020 admin Business News Comments Off on AmEx to cut spending by $3 billion to survive virus-hit economy

Credit card issuer American Express Co said on Friday it would cut spending by nearly $3 billion in 2020 after its quarterly profit sank 76% as it set aside more money to brace itself against a wave of potential delinquencies.

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Source:: Reuters – Business News