Nov 19, 2019

American Express pays businesses to catch up to Visa and Mastercard

Photo: Andrew Matthews/PA Images/Getty Images

American Express is paying as much as $450,000 to businesses to entice them to take its cards, the Wall Street Journal reports.

Between the lines: "Amex has long lagged behind Visa and Mastercard in the race for American businesses," as it opted for well-heeled customers rather than mass-market appeal, the story notes.

  • That strategy is changing as Amex looks to make good on a promise to investors to catch up to its competitors — which have pulled in big spenders with generous rewards cards — by the end of this year.
  • As of 2018, "Visa and Mastercard were accepted in some 1.3 million more U.S. locations than Amex, which had 10.3 million locations," according to the research from the Nilson Report cited by WSJ.

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  1. Global: Total confirmed cases as of 5:45 p.m. ET: 5,763,122 — Total deaths: 358,235 — Total recoveries — 2,389,735Map.
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Minnesota activates National Guard amid fallout from George Floyd death

A portrait of George Floyd hangs on a street light pole in Minneapolis. Photo: Stephen Maturen/Getty Images

George Floyd, 46, moved to Minnesota to improve his life and become his "best self," but instead, he is dead because of Minneapolis police.

The latest: Minnesota Gov. Tim Walz declared a state of emergency and activated the state's National Guard in response to violent clashes over the past two days between police and protesters in the Twin Cities.

Trump signs executive order targeting protections for social media platforms

President Trump signed an executive order on Thursday designed to limit the legal protections that shield social media companies from liability for the content users post on their platforms.

What they're saying: "Currently, social media giants like Twitter receive an unprecedented liability shield based on the theory that they are a neutral platform, which they are not," Trump said in the Oval Office. "We are fed up with it. It is unfair, and it's been very unfair."