GAMBLING NEWS
American Express has had a rough year
Jul 24, 2009
The global credit card company American express has released their results for the second quarter of 2009. The report that has been published by American Express is no pleasant reading for anyone in charge of the world wide credit card organization and is showing a loss on all segments in the Amex financial Network. One of the reasons for the downfall when comparing the results form the same quarter last year is the financial crisis that started in august last year and even if the stock markets has regained some composer there is lot more trouble up ahead.
The American Express report for the second quarter of 2009 that was presented a few days ago shows that the overall decline in income has gone down with 48% when comparing the second quarter 2009 and the same quarter during last year 2008 to 342 million dollar. The billing business of American Express went down 16%. Not only that has declined the average worldwide spending of any American Express card holder has declined with 15% resulting in the one of the worst results ever for American Express. The American Express stock that is located on the New York Stock Exchange had a bad day and dropped several points after the release of the quarterly results report.
American express offers their credit card services throughout the world in more than 170 countries and territories. Customers can apply for credit card in any local bank offices that are connected to the Amex Financial Network. Amex serves as an excellent way of buying merchandise and services all over the world as well as online.
