American Express Co. announced Thursday that it was cutting 5,400 jobs, primarily in its travel business, and take a $287 million restructuring charge associated with those layoffs.
The charge is likely to lower the company's adjusted fourth quarter net income by 46 percent from a year earlier. Excluding the charge, however, the company said its fourth quarter adjusted net income was $1.2 billion, or $1.09 per share.
Maybe you were hoping you'd never hear the phrase "fiscal cliff" again after Congress passed legislation Jan. 1 to address that tax-break-expiration deadline.
Three more cliff-type deadlines are fast approaching. They involve: 1) raising the federal debt ceiling 2) modifying automatic, across-the-board spending cuts and 3) funding the government to avert a shutdown.
The deadlines all hit between Valentine's Day and Easter, which means new rounds of chaotic congressional negotiations may start up just after the Jan. 21 presidential inauguration parade ends.
Originally published on Thu January 10, 2013 12:53 pm
The Mississippi River has provided George Foster with a living all his life. Now, with the river dropping to historically low levels, it's threatening to take his business down with it.
Foster's office sits atop an empty barge on the river, just south of St. Louis. His building tilts at a 30-degree angle because the water is so low. Visitors may want to stick out their fingertips for balance walking down his narrow hallway.
You practically can't visit a news site these days without seeing a story about why President Obama should or should not order the Treasury Department to strike a platinum coin "worth" $1 trillion and deposit it with the Federal Reserve.
Good morning, I'm Renee Montagne. A travel group in Britain is advertising a six-month job with an intriguing set of qualifications: comfortable in swimwear, happy to get wet at work. And this is key: mad about water parks. The job is water slide tester at the company's Splash World Resorts in places like Majorca and Turkey. It pays just okay, but the gig does promise plenty of thrills before the water slide tester retires that swimwear. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.
And there's more trouble for Foxconn, the electronics giant which makes Apple products in China. The company is acknowledging that Chinese police are looking into allegations that Foxconn employees took bribes from parts suppliers.
And today's last word in business goes out by special request to people listening in their cars. A new study finds that the music you listen to can affect how safely you drive.
STEVE INSKEEP, HOST:
Researchers at London Metropolitan University studied how drivers reacted to different playlists over 500 miles. Some of the safest music, we're told, included tunes by Norah Jones and Elton John. They're soft and slow-paced.
Television makers are trying to find the next big thing that will get you to throw out your current TV and buy a new one. They thought it might be 3D TV. That didn't work out. So now they've come up with something new. They're showing it off this week at the Consumer Electronics Show in Las Vegas, which is where we found Rich Jaroslovsky. He writes about technology for Bloomberg News, and he told us about the newest new viewing experience.