Mutual fund provider Fidelity Investments is considering dropping American Express Co (AXP.N) and Bank of America Corp (BAC.N) to find new partners and better terms, Bloomberg reported, citing people familiar with the matter.
Visa Inc (V.N) and MasterCard Inc (MA.N) are in talks with Fidelity to replace AmEx, Bloomberg cited the sources as saying.
Warehouse club retailer Costco Wholesale Corp (COST.O) said on Feb. 12 that it would end a 16-year-old agreement of accepting AmEx credit cards at U.S. stores from next year, which threatened a near 8 percent of worldwide annual spending on AmEx cards.
A day after which, Bloomberg reported citing a published report that AmEx was also ending its co-branded card deal with JetBlue Airways Corp (JBLU.O).
The discussions, which may replace BofA with another issuer as well, are fluid and may fall apart, Bloomberg wrote.
BofA and Visa declined to comment, while Fidelity Investments and AmEx were not available for comments outside regular business hours.
Up to Wednesday's close of $16.06, BofA shares had fallen 10 percent this year.
AmEx shares have fallen nearly 19 percent to $75.63 this year, through its Wednesday close on the New York Stock Exchange.
UH-60 Black Hawk helicopters operated by Helicopter Alliance played a vital role in combating wildfires across Central and Southern Europe during the aerial firefighting season that has now concluded....
Azerbaijan Airlines (AZAL), part of AZCON Holding, has taken delivery of another Airbus A321neo, increasing its fleet to 31 aircraft as the carrier continues its long-term modernisation strategy. The...
Dutch flag carrier KLM, part of the Air France-KLM Group, has welcomed its first Airbus A350-900, marking a significant step in the airline’s long-haul fleet modernization strategy. The arrival...
TRU Simulation + Training Inc. will showcase its Veris Virtual Reality Flight Training Device (FTD) for the Cessna Skyhawk at NBAA-BACE 2026, marking the simulator's first appearance at the indust...
