Fox Business - The Power to Prosper
Search Site

Kenneth Chenault

Leash on expenses helps AmEx counter muted user spending

American Express Co's quarterly profit beat analysts' average estimate as a tighter control on expenses helped make up for slower growth in consumer spending in its key U.S. market.The world's biggest credit card issuer said an unusually severe winter caused billed business in the United States to rise 6 percent in the first quarter, lower than the 9 percent growth in the preceding quarter.However, Chief Financial Officer Jeff Campbell said on a post-earnings conference call that the business had grown through the second half of the quarter as the weather improved.U.S. retail sales increased 1.1 percent in March ÛÛÛ the biggest gain since September 2012 ÛÛÛ in a sign that the economy is bouncing back after the severe winter."While consumers remain cautious about taking on additional debt, we continued to see a modest increase in card member loan balances" CEO Kenneth Chenault said in a statement.For a graphic on the company's U.S. billed business growth over the past four years, click ...

Read More

  1. Buffett Managers Score Big Payday

    Warren Buffett told investors in March he "hit the jackpot" hiring two former hedge-fund managers to help run Berkshire Hathaway Inc.'s investing business.Todd Combs...

  2. American Express Shareholders Reject Proposal to Split Chairman, CEO Roles

    American Express Co. (AXP) shareholders on Monday rejected a proposal to separate the roles of chairman and chief executive held by Kenneth Chenault.Investors voted ...

  3. American Express Shareholder Proposal Fails

    American Express Co. (AXP) shareholders voted against a proposal calling for the company's chairman to be an independent director at the credit-card company's annual...

  4. American Express Logs Mixed 1Q Results

    American Express (NYSE:AXP) unveiled a stronger-than-expected 2% rise in first-quarter profits on Wednesday despite a "slow growth economy," but the card giant's rev...

  5. American Express Adds Checks, FDIC Insurance to Bluebird Product

    American Express Co. (AXP) is adding paper checks and deposit insurance to the Bluebird prepaid card it debuted last year with Wal-Mart Stores Inc. (WMT) as it faces...

  6. American Express CEO made $28.5 million in 2012

    Credit card company American Express Co chief executive Kenneth Chenault received a total payout of about $28.5 million in 2012, according to a filing, an increase o...

  7. Investors Question Price of Plastic as Card Issuers Face Strain

    Credit-card lenders are losing their luster with investors amid the slow economic recovery, intense competition for borrowers and weakened performance from some play...

  8. AmEx Earnings Down 47% On Charges

    American Express (NYSE:AXP) said Thursday its quarterly earnings fell 47% from a year ago on a handful on one-time charges.For the fourth quarter ended Dec. 31, 2012...

  9. AmEx to Cut 5,400 Jobs in Restructuring

    American Express (NYSE:AXP) announced plans late Thursday to cut 4% to 6% of its workforce in 2013, or about 5,400 jobs, as part of a larger overhaul.The company rec...

  10. AmEx CEO Chenault Eyed as Geithner Successor

    In a move that could help improve the White House's rocky relationship with the business world, President Obama is exploring hiring long-time American Express (NYSE:...

  11. White House lists two dozen leaders to meet with Obama on deficit

    Two dozen business, labor and civic leaders, including the chief executives of major U.S. corporations such as Ford, IBM and Wal-Mart, will meet President Barack Oba...

  12. American Express Profit Up 1.2%

    American Express Co.'s (AXP) third-quarter earnings rose 1.2% as revenue improved due to an increase in customer card spending and higher net interest income.America...

  1. AmEx Posts Mixed 1Q Results

    American Express (NYSE:AXP) reported a 12% increase in its first-quarter earnings, as the credit card giant benefited from increased spending by its members.The comp...

  2. AmEx Doubles 4Q Profit, EPS Misses

    American Express (NYSE:AXP) said Thursday its fourth-quarter profit doubled amid continued strength in credit-card spending.The company's profit checked in at $1.31 ...

  3. Credit-Card Spending Boosts American Express to 3Q Beat

    American Express (NYSE:AXP) reported on Wednesday a 9.3% increase in its third-quarter profit, driven by an increase in credit-card spending.The company's profit was...

  4. Analysis: P&G all-star board's oversight questioned as CEO departs

    The sudden exit of Procter & Gamble Co's Bob McDonald as chief executive and the return of former CEO A.G. Lafley in his place has raised questions about the vigilan...

  5. American Express Chief Financial Officer to Step Down

    American Express Co. (AXP) Chief Financial Officer Daniel Henry plans to step down later this year, marking the latest management change for the credit-card company....

  6. American Express CFO Daniel Henry to Retire

    American Express Co (NYSE:AXP) said Chief Financial Officer Daniel Henry will retire as soon as a replacement is found, a process that could take "a couple of months...

  7. American Express CFO Daniel Henry to retire

    American Express Co said Chief Financial Officer Daniel Henry will retire as soon as a replacement is found, a process that could take "a couple of months.""With our...

‹ Prev123Next ›
Freebase CC-BY
Source: Kenneth Chenault on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL