American Express Profit Rises As Corporate Spending Picks Up

government shutdown. “They largely cater to a consumer base who would likely be less sensitive to the fallout from what’s going on in Washington DC,” said Sameer Gokhale, an analyst at Janney Capital Markets. For the third quarter ended September 30, American Express said spending on its cards rose 9 percent after adjusting for foreign currency translations — the biggest jump in five quarters. The company, which lends directly to consumers and competes with Visa Inc and MasterCard Inc to process credit card transactions, said its U.S.-billed business rose 8 percent to $158.2 billion.

U.S. Corporate Profit Growth Slows as Shutdown Risks Rise

I will go and cooperate with them regarding the investigation.” CBI hasn’t formally taken over the Saradha probe. This inspite the fact that the Tripura and Assam governments formally asking it to do so. However, other central agencies – Enforcement Directorate, SFIO and SEBI – are probing the matter.

Corporate affairs ministry to probe Kunal

While consumer appetite for the latest iPhones hasnt waned — a record 9 million were sold in the September weekend debut of two models — Apples sales growth has slowed as Samsung Electronics Co. and other rivals gained market shares. Apples earnings per share may have declined about 9 percent last quarter, based on the average of 45 estimates, after falling 20 percent and 18 percent in the two previous quarters.

Corporate cash piles are growing — blame Washington.

The Congressional Budget Office says that the 2009 $800 billion stimulus package created up to 3.6 million new jobs. Similar to public-sector spending, overall corporate spending can have a multiplier effect. Every $1 added to the economy is recycled several times to create something much more than one-plus-one. If you believe the private sector is more efficient than the government, the number of jobs created might be a higher number still.


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