American Express Q4 profit tumbles; tops estimates (Reuters)

Chairman and CEO of American Express Kenneth Chenault speaks to the Brookings Institution in Washington, September 16, 2008. (Larry Downing/Reuters)Reuters – American Express Co said on Monday its fourth-quarter earnings tumbled 72 percent due to higher loan losses, lower customer spending and a strengthening U.S. dollar, but results beat expectations as it slashed costs.

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