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American Express has lost another partner. A report from Bloomberg on Friday afternoon said American Express and JetBlue are parting ways on a co-branded credit card. This report follows an announcement from AmEx on Thursday that said the company would end and is the latest in a series of blows to the New York-based firm after partnerships with Costco Wholesale Corp. and JetBlue Airways Corp. ended. Shares fell as much as 2.5% in New York trading. American Express failed to show that its so-called non The New York company said in January it would lay off 4,000 employees this year, and this month American Express said its partnerships with Costco and JetBlue would be coming to an end. American Express shares closed down $1.38 to $78.40 following the ruling. American Express has failed to renew key partnerships with Costco and JetBlue and may be facing a court case, but the company hopes a renewed focus on wealthy clients will help turn things around, the New York Times reports. The federal ruling was another setback for the American Express in this month. Last week, American express announced that its partnership with JetBlue and retailer Costco will very soon be ending. Amex had been the only card that Costco had accepted beyond His ruling caps a bad month for the company, which learned last week that Costco and Jetblue are ending their Amex partnerships. This ruling could empower retailers to negotiate better deals with American Express, says antitrust lawyer Jeffrey I. .
The New York company said in January it would lay off 4,000 employees this year, and this month American Express said its partnerships with Costco and JetBlue would be coming to an end. American Express shares closed down $1.38 to $78.40 following the ruling. It said its arrangement with JetBlue was ending as well. To add to the bad news, a judge ruled last week that American Express violated U.S. antitrust law by barring merchants from asking customers to use one credit card over another. Earlier this week And in late January, the company disclosed that it was ending its exclusivity agreement with Costco Wholesale Corp., which had been one of American Express' biggest merchants. JetBlue Airways Corp. is also ending its arrangement with AmEx. The majority of In some circles, American Express is considered the king of travel-rewards cards as will its 11-year relationship with JetBlue as the issuer of its TrueBlue credit cards. The Costco tie-up alone accounts for around 10 percent of Amex's cards, and .
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