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IPFS News Link • Economy - Economics USA

American Express Profit Falls on Higher Defaults

7-21-2008 • Bloomberg

American Express Co., the biggest U.S. credit-card company by purchases, withdrew its 2008 earnings forecast after second-quarter profit fell 37% on worse-than-expected consumer defaults. The shares slumped 11% in extended trading.

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Reported By Powell Gammill

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American Express Profit Falls on Higher Defaults

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