Global
American Express Company reported 37 percent lower global commercial travel sales of $3.4 billion and 23 percent lower commercial card billings of $25.1 billion during the first quarter
, as compared with the same period last year. Overall company revenues fell 7 percent adjusted for currency changes, and Amex reported 56 percent lower net income of $437 million. Officials said they expected to make additional job cuts during the June quarter.