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The FINANCIAL - Back to Blue Skies Report from American Express and American Express Global Business Travel released
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The recovery in spending on American Express corporate cards continued during the first three months of 2021, with Q1-billed business for the card giant s Global Commercial Services division down 10 per cent year over year an improvement from Q4 2020, during which volume dropped 18 per cent year over year.
Amex on Friday reported total GCS billed business of US$104 billion for the first quarter of 2021, down slightly from US$109.1 billion in the previous quarter and 10 per cent lower than Q1 2020 s US$116.1 billion.
But Amex corporate card spending showed continued resurgence from the low point reached in Q2 2020, in which GCS reported just US$82.8 billion in billed business as the onset of the Covid-19 pandemic wreaked havoc on the global economy a 36 per cent plummet over the previous year. In each quarter since, GCS year-over-year spending declines have slowed steadily, coming in at 23 per cent in the third quarter of 2020, 18 per cent in the fourth q
American Express Reports First-Quarter Revenue of $9 1 Billion and Earnings Per Share of $2 74
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News Elsa Vivero Promoted to General Manager / Executive Vice President, Global Commercial Services at WEA
Highly regarded music exec Elsa Vivero has been promoted to the newly created position of General Manager / Executive Vice President, Global Commercial Services at WEA, the Label and Artist Services division of Warner Music Group (WMG). Vivero will continue to be based in New York and report directly to Maria Weaver, President, WEA.
In her expanded role, Vivero will oversee all core functions of commercial marketing and distribution that are vital to getting music to fans around the world, however they listen. She will continue to work closely with digital partners to enhance WMG’s labels’ and artists’ presence worldwide – including via playlisting, collaborative campaigns, editorial opportunities, and strategic planning. She will add physical to her remit, overseeing the physical account management and marketing services that ensure retailers small and lar
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According to a recent Amex survey, 60% of Canadian Small and Medium Enterprises (SMEs) believe that with their current cash flow, they can t maintain business for more than six months
TORONTO, Feb. 11, 2021 /CNW/ - In a first for American Express outside of the United States, the company is announcing the international expansion of its existing business financing product suite with the launch of Business Loans in Canada and Australia. American Express Business Loans, in partnership with ODX, will offer unsecured business loans of between $5,000 and $250,000 CAD to a select group of its small and medium enterprise customers in Canada. This move further showcases American Express continued commitment to backing Canadian businesses by providing them with the access to the capital they need to grow and recover from the unprecedented challenges of the COVID-19 pandemic.
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