Deals
AmEx’s U.S. Card Partnership With Costco to End Next Year
Why Amex Is Losing Its Grip on the Wealthy
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American Express Co., the biggest U.S. credit-card issuer by customer purchases, said its co-brand and merchant agreements with Costco Wholesale Corp. in U.S. stores will end next year.
The stock dropped 6.6 percent to $80.33 at 9:46 a.m. in New York, the largest drop since August 2011 and the biggest decliner in the 30-company Dow Jones Industrial Average.