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AmEx issues dismal outlook on business travel spending as profit slumps
© Cyprus Mail | AmEx issues dismal outlook on business travel spending as profit slumps

American Express Co on Friday warned that business travel spending would not pick up before early 2022 after reporting underwhelming third-quarter profit due to weak spending on travel and entertainment by its card users.
In what appears to be a shift in strategy, the New York-based credit card issuer also walked back on its cost-cutting target of nearly $1 billion in 2020 and instead decided to spend heavily to add new card customers.
“We have begun to selectively spend in areas cri….. Read More On: Cyprus Mail

Article Source: Cyprus Mail
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