American Express

American Express Cuts 3,500 Jobs Despite Profit Jump

by
Modern glass corporate office tower in New York at dusk with business people leaving the entrance

The American Express job cuts announced on Friday will eliminate about 3,500 positions, or roughly 5% of the company’s global workforce, even as the card giant reported sharply higher profits and raised its full-year earnings forecast. Chief Executive Stephen Squeri disclosed the plan on the company’s third-quarter earnings call, saying the restructuring is designed to … Read more

Stock Futures Slip as SpaceX Report Hits Telecom Stocks

by
Digital stock market ticker board showing declining futures and telecom share prices on Wall Street

Stock futures SpaceX telecom news drove Friday’s premarket action, as Wall Street futures ticked lower after a sharp selloff in AI-linked stocks — and telecom shares slid on fears of new competition from SpaceX. AT&T, Verizon, and T-Mobile were down more than 4% in premarket trading after a report said SpaceX was in talks with … Read more