business - "credit"

American Express Co , a credit card issuer and processing network, reported a steeper-than-expected 38 percent drop in quarterly profit as it set aside more money to cover credit losses and its shares fell sharply after hours.

American Express sees quarterly profits fall after credit losses increase more than forecast.

US credit card issuer sees shares fall after posting 37% dent in second-quarter earnings

Shares of American Express tumbled in after-hours trading on Monday after it posted a 37 per cent decline in second-quarter earnings and set aside more money to cover credit losses.

American Express, the credit card company, issued a thumping profits warning last night, sending its shares diving and potentially foreshadowing a new leg of the credit crisis. The company, whos...

SAN FRANCISCO (MarketWatch) -- Moody's Investors Service said late Monday that it may downgrade the Aaa rating of Assured Guaranty . The agency put the rating on review for a possible downgrade partly because of the credit risks that have been taken on by the bond insurer and a drop in demand for the guarantees sold by the bond insurance industry. 'Assured's credit profile may no longer be consistent with its current ratings given uncertainty about the firm's portfolio risk profile, material shifts in the demand function for financial guarantees, and as observed recently among Assured's competitors -- potential sensitivity of its franchise and financial flexibility if losses continue to rise,' the agency said in a statement. Moody's also put the Aaa ratings of rival Financial Security Assurance on review for a possible downgrade. market pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

AP - Factories laying off workers, stocks tumbling and shoppers ditching their credit cards forced the economy to contract in June, a trend likely to continue in the second half of 2008, a private business group said Monday.

NEW YORK (Reuters) - American Express Co , a credit card issuer and processing network, reported a steeper-than-expected 38 percent drop in quarterly profit as it set aside more money to cover credit losses and its shares fell sharply after hours.

KOLKATA: Tobacco-to-hotels major ITC is consolidating its investment operations under one roof, with Russell credit Ltd likely to become the sole investment arm of the cash rich company. "In ord...

There's no way to prevent identity theft. Or is there? Bo Holland, CEO of Debix, tells MarketWatch's Andrea Coombes that lenders should check in with consumers before extending credit. His company's product aims to automate that process.