its-regulatory

AmEx to cut $1 billion in costs by end of 2017

(Reuters) – Credit card issuer American Express Co said it would cut $1 billion in costs by the end of 2017 as it responds to intensifying competition in the payments industry. AmEx's shares fell 4.1 percent to $60.05 in extended trading on Thursday, after the company reported its fourth straight decline in

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AmEx to cut $1 billion in costs by end of 2017

its-regulatory

Boeing to cut 747-8 production in half as demand slows

Boeing Co said on Thursday it will cut production of its 747-8 jumbo jet in half and take a $569 million charge in the fourth quarter as it faces dwindling sales. “The air cargo market recovery that began in late 2013 has stalled in recent months and slowed demand for the 747-8 freighter,” Ray Conner, chief executive of Boeing Commercial Airplanes, said in a statement. Boeing has disclosed in its regulatory filings for months that the costs of making the…

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Boeing to cut 747-8 production in half as demand slows