American Express Co., the biggest credit-card issuer by purchases, dropped after second-quarter revenue missed some estimates and a European Union plan to cap fees sparked concern the lender would face price competition.
Groupon Inc. said Daniel Henry, the finance chief of American Express Co., and Robert Bass, a vice chairman of Deloitte LLP, will become directors, underscoring efforts to shore up investors’ confidence in its accounting.
The heir of a prominent Jewish art dealer who fled Adolf Hitler’s Germany urged the state of North Rhine-Westphalia to relinquish paintings by Paul Klee and Juan Gris that he says were lost due to Nazi persecution.
American Express Co., the lender that plans to cut 5,400 jobs this year, said profit at its U.S. card business declined 42 percent in the fourth quarter as the firm set aside more money to cover soured loans.
Andrew Mason’s role as chief executive officer of Groupon Inc. is on the line as board members meeting today in Chicago discuss whether to seek new leadership at the top of the troubled provider of daily coupons.
American Express Co. , the biggest credit-card issuer by customer spending, said first-quarter profit increased 33 percent as consumer purchases surged and the firm slashed the funds set aside to cover bad loans.