Word: amex
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...sought-after transponders are the 24 aboard RCA's Satcom III-R, launched into orbit last November. They can carry two dozen different channels of cable TV programming. The satellite's customers include the pay TV channels Showtime and Home Box Office as well as Warner Amex and Turner Broadcasting System...
While the 132-year-old Amex is mainly known for its credit cards, travelers checks and a worldwide network of travel agencies, those businesses now account for only about 35% of the company's profits, which totaled $518 million last year. The largest slice of earnings, nearly 40%, came from Fireman's Fund Insurance Companies, the world's largest insurer of movie productions and the eighth biggest American property and liability underwriter. The brokerage business from its subsidiary Shearson contributed another 20% to earnings. Additional parts of the diversified corporate empire include Mitchell Beazley Ltd., the British...
Originally a carrier of mail and general goods between the East and the Midwest, Amex introduced the first travelers check in 1891. The business has been a bonanza for the firm, which charges a 1% fee for issuing the checks and then puts the cash it receives in high-yielding investments. Competition in the field is now fierce, but Amex still has about half of the estimated $40 billion annual business...
...ahead after introducing its green card in 1958. The firm now has some 14 million pieces of plastic in use, against about 2 million for Diners' Club. Visa and MasterCard, which issue their cards through banks, are far bigger. Each has about 70 million cards in circulation. But Amex insists that its members are more affluent and use their cards more often...
...Amex paid nearly $1 billion in stock for Shearson last year and became a giant in the new financial services field. Shearson/American Express has already introduced a new account that combines a charge card, brokerage services, checking and money-market funds into a single package...