American Express has filed a civil complaint in Los Angeles County Superior Court alleging that rapper and influencer Bhad Bhabie, born Danielle Bregoli, failed to repay balances on a company credit card. The suit, lodged on 2 July, seeks $674,452.40 in damages for breach of contract, interest and fees.

According to the filing, American Express extended credit to Bregoli in April 2021 but claims payments stopped around 19 December 2024. The card issuer says the account agreement required the balance to be paid in full or through monthly installments, neither of which occurred, leading to the outstanding sum.

Bregoli has publicly rejected the allegations, saying the debt claim is "not true." No court date has been set, and representatives for American Express and the artist have not commented further on the dispute.

JPMorgan Chase has announced a substantial update to its premium Sapphire Reserve credit card, increasing the annual fee from $550 to $795, effective June 23, 2025. This 45% fee hike marks a continued rise since the card's launch in 2016, when the fee was $450. The overhaul introduces new perks, including a $500 annual hotel credit and a revamped points program, alongside the existing $300 travel credit, effectively reducing the net cost for cardholders. JPMorgan also unveiled a similarly priced version of the Sapphire Reserve tailored for business users.

This move intensifies the competition in the premium credit card market, particularly against American Express, which is expected to respond with fee adjustments to its Platinum card. Industry analysts note that the premium credit card sector has seen annual fees increase significantly over the past decade, with total fees rising from $3 billion to approximately $7 billion per year. The update reflects JPMorgan's strategy to enhance rewards and maintain its competitive edge amid a growing rewards arms race among issuers.

Beijing's urban rail transit system has become the world's first subway network to support contactless fare payments using five major card schemes: UnionPay, Mastercard, Visa, JCB, and American Express. This service, available since June 15, 2025, covers all 29 subway lines in Beijing, including two airport lines, allowing both domestic and international cardholders to tap and ride seamlessly. Following Beijing's lead, Shanghai's Maglev train began accepting international bank cards for tap-and-ride travel on June 14, 2025. Subsequently, Shanghai Metro announced a pilot program to extend contactless bank card payments across its entire metro network, including support for e-Yuan payments. On July 2, 2025, Shanghai launched "Easy Go," an integrated digital platform designed to streamline services for international visitors by combining visa facilitation, instant tax refunds, and consumption services into a single app, simplifying travel and spending for overseas users.

Beijing’s urban rail network has become the first in the world to let riders tap any of the five major card schemes—UnionPay, Mastercard, Visa, JCB and American Express—across its entire system, according to the city’s transport commission and central-bank officials.

The contactless service, launched on 15 June, covers all 29 metro lines, including two airport routes, allowing overseas-issued JCB cards as well as both domestic and international American Express cards to be used directly at ticket gates. Fares are calculated at prevailing local rates, eliminating the need for paper tickets or dedicated transit smartcards.

The move is part of a broader effort to streamline payments for international visitors; Shanghai’s Maglev line has also begun accepting foreign bank cards. Beijing authorities said the expansion aligns with national goals to improve urban transit efficiency and support inbound tourism.

A collection of iconic movie props from classic films is set to be auctioned this summer at Sotheby's in Dallas. Notable items include the Rosebud sled from "Citizen Kane," Macaulay Culkin's knit snow cap from "Home Alone," and Harrison Ford's whip used during the Holy Grail trials in "Indiana Jones and the Last Crusade." Additionally, Ferris Bueller's screen-worn vest from the 1986 film "Ferris Bueller's Day Off" will be part of the auction. The sale also features other memorabilia such as Tiger Woods' American Express card from a 2005 advertisement and a check signed by Michael Jordan used to pay his phone bill. The auction highlights a range of sought-after entertainment artifacts, attracting collectors and fans of Hollywood history.

American Express's strategic focus on attracting Generation Z customers is yielding positive results, with this demographic now accounting for approximately 5% of all spending on its cards and products in the US, according to CFO Christophe Le Caillec. The company’s success is attributed to capturing more affluent younger consumers who exhibit faster spending growth and maintain lower delinquency rates. Millennial delinquencies on American Express cards are reported to be half the industry average and remain 60 basis points below 2019 levels, outperforming older generations. Additionally, despite an increase in millennial customers, the number of clients with student loans has remained relatively stable, and those with high student loan debt and lower incomes represent only a minimal portion of the customer base. American Express cardholders in this segment are willing to pay premium fees, such as the $695 annual card fee, reflecting their higher income levels compared to other providers.

Iman Pahlavi, the granddaughter of Iran's last Shah and daughter of Crown Prince Reza Pahlavi, married Bradley Sherman, a Jewish American entrepreneur, in a ceremony held in Paris. The event was attended by her father, the exiled Crown Prince, and was described as a lavish wedding incorporating Jewish matrimonial traditions. This marriage has drawn attention from Israeli media and Jewish communities, marking the first known instance of a Jewish individual marrying into the former Iranian royal family. Observers note that the Pahlavi family appears to have moved away from traditional royal aspirations, with the crown prince reportedly raising his children as ordinary Iranian-Americans rather than grooming them for royal succession or responsibilities.

The U.S. travel industry is facing challenges amid growing recession concerns and changing consumer behavior. Passenger traffic through TSA checkpoints has declined year-over-year, signaling potential economic downturn effects. Wealthier travelers are reducing airfare spending, impacting the luxury travel sector which has relied heavily on high-spending vacationers.

American Express Chief Financial Officer Christophe Le Caillec reported that overall spending remains consistent with the first quarter, with moderate airline expenditures and strong credit levels. However, travel from Canadians and Europeans to the United States has decreased significantly, contributing to a downturn in American tourism. New York City, a key destination, is feeling the impact as foreign arrivals decline. Additionally, domestic consumers are cutting back on travel, and the U.S. travel industry is further affected by reduced foreign visitors, partly attributed to political rhetoric surrounding former President Donald Trump.

The World Series of Poker (WSOP) has confirmed that players can register for the 2025 tournament events using American Express, MasterCard, Discover, and USA credit cards through the WSOP+ app without incurring any transaction fees at present. Since 2018, the WSOP has accepted credit card payments for events with buy-ins up to $10,000. Notably, the previously announced 3% fee for credit card payments has been waived for the upcoming 2025 events. Purchases made via credit cards are coded as regular purchases, potentially allowing players to earn cash back or airline miles.

When a player registers with a debit or credit card and is verified, their seat assignment is accessible through the WSOP+ app, with no physical ticket issued. Questions remain about debit card fees and options for loading large sums onto WSOP+ accounts. Additionally, the use of credit cards is seen as advantageous due to the ability to pay later without fees or penalties, and its integration into the purchase process.

American Express Co. reported first-quarter earnings that surpassed Wall Street expectations, with earnings per share reaching $3.64, a 9% increase year-over-year, against an estimated $3.48. Revenue for the quarter was $16.97 billion, slightly above the anticipated $16.96 billion. The company maintained its full-year guidance, projecting revenue growth of 8% to 10% and earnings per share between $15 and $15.50, subject to the macroeconomic environment.

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American Express has filed a civil complaint in Los Angeles County Superior Court alleging that rapper and influencer Bhad Bhabie, born Danielle Bregoli, failed to repay balances on a company credit card. The suit, lodged on 2 July, seeks $674,452.40 in damages for breach of contract, interest and fees.

According to the filing, American Express extended credit to Bregoli in April 2021 but claims payments stopped around 19 December 2024. The card issuer says the account agreement required the balance to be paid in full or through monthly installments, neither of which occurred, leading to the outstanding sum.

Bregoli has publicly rejected the allegations, saying the debt claim is "not true." No court date has been set, and representatives for American Express and the artist have not commented further on the dispute.

JPMorgan Chase has announced a substantial update to its premium Sapphire Reserve credit card, increasing the annual fee from $550 to $795, effective June 23, 2025. This 45% fee hike marks a continued rise since the card's launch in 2016, when the fee was $450. The overhaul introduces new perks, including a $500 annual hotel credit and a revamped points program, alongside the existing $300 travel credit, effectively reducing the net cost for cardholders. JPMorgan also unveiled a similarly priced version of the Sapphire Reserve tailored for business users.

This move intensifies the competition in the premium credit card market, particularly against American Express, which is expected to respond with fee adjustments to its Platinum card. Industry analysts note that the premium credit card sector has seen annual fees increase significantly over the past decade, with total fees rising from $3 billion to approximately $7 billion per year. The update reflects JPMorgan's strategy to enhance rewards and maintain its competitive edge amid a growing rewards arms race among issuers.

Beijing's urban rail transit system has become the world's first subway network to support contactless fare payments using five major card schemes: UnionPay, Mastercard, Visa, JCB, and American Express. This service, available since June 15, 2025, covers all 29 subway lines in Beijing, including two airport lines, allowing both domestic and international cardholders to tap and ride seamlessly. Following Beijing's lead, Shanghai's Maglev train began accepting international bank cards for tap-and-ride travel on June 14, 2025. Subsequently, Shanghai Metro announced a pilot program to extend contactless bank card payments across its entire metro network, including support for e-Yuan payments. On July 2, 2025, Shanghai launched "Easy Go," an integrated digital platform designed to streamline services for international visitors by combining visa facilitation, instant tax refunds, and consumption services into a single app, simplifying travel and spending for overseas users.

Beijing’s urban rail network has become the first in the world to let riders tap any of the five major card schemes—UnionPay, Mastercard, Visa, JCB and American Express—across its entire system, according to the city’s transport commission and central-bank officials.

The contactless service, launched on 15 June, covers all 29 metro lines, including two airport routes, allowing overseas-issued JCB cards as well as both domestic and international American Express cards to be used directly at ticket gates. Fares are calculated at prevailing local rates, eliminating the need for paper tickets or dedicated transit smartcards.

The move is part of a broader effort to streamline payments for international visitors; Shanghai’s Maglev line has also begun accepting foreign bank cards. Beijing authorities said the expansion aligns with national goals to improve urban transit efficiency and support inbound tourism.

A collection of iconic movie props from classic films is set to be auctioned this summer at Sotheby's in Dallas. Notable items include the Rosebud sled from "Citizen Kane," Macaulay Culkin's knit snow cap from "Home Alone," and Harrison Ford's whip used during the Holy Grail trials in "Indiana Jones and the Last Crusade." Additionally, Ferris Bueller's screen-worn vest from the 1986 film "Ferris Bueller's Day Off" will be part of the auction. The sale also features other memorabilia such as Tiger Woods' American Express card from a 2005 advertisement and a check signed by Michael Jordan used to pay his phone bill. The auction highlights a range of sought-after entertainment artifacts, attracting collectors and fans of Hollywood history.

American Express's strategic focus on attracting Generation Z customers is yielding positive results, with this demographic now accounting for approximately 5% of all spending on its cards and products in the US, according to CFO Christophe Le Caillec. The company’s success is attributed to capturing more affluent younger consumers who exhibit faster spending growth and maintain lower delinquency rates. Millennial delinquencies on American Express cards are reported to be half the industry average and remain 60 basis points below 2019 levels, outperforming older generations. Additionally, despite an increase in millennial customers, the number of clients with student loans has remained relatively stable, and those with high student loan debt and lower incomes represent only a minimal portion of the customer base. American Express cardholders in this segment are willing to pay premium fees, such as the $695 annual card fee, reflecting their higher income levels compared to other providers.

Iman Pahlavi, the granddaughter of Iran's last Shah and daughter of Crown Prince Reza Pahlavi, married Bradley Sherman, a Jewish American entrepreneur, in a ceremony held in Paris. The event was attended by her father, the exiled Crown Prince, and was described as a lavish wedding incorporating Jewish matrimonial traditions. This marriage has drawn attention from Israeli media and Jewish communities, marking the first known instance of a Jewish individual marrying into the former Iranian royal family. Observers note that the Pahlavi family appears to have moved away from traditional royal aspirations, with the crown prince reportedly raising his children as ordinary Iranian-Americans rather than grooming them for royal succession or responsibilities.

The U.S. travel industry is facing challenges amid growing recession concerns and changing consumer behavior. Passenger traffic through TSA checkpoints has declined year-over-year, signaling potential economic downturn effects. Wealthier travelers are reducing airfare spending, impacting the luxury travel sector which has relied heavily on high-spending vacationers.

American Express Chief Financial Officer Christophe Le Caillec reported that overall spending remains consistent with the first quarter, with moderate airline expenditures and strong credit levels. However, travel from Canadians and Europeans to the United States has decreased significantly, contributing to a downturn in American tourism. New York City, a key destination, is feeling the impact as foreign arrivals decline. Additionally, domestic consumers are cutting back on travel, and the U.S. travel industry is further affected by reduced foreign visitors, partly attributed to political rhetoric surrounding former President Donald Trump.

The World Series of Poker (WSOP) has confirmed that players can register for the 2025 tournament events using American Express, MasterCard, Discover, and USA credit cards through the WSOP+ app without incurring any transaction fees at present. Since 2018, the WSOP has accepted credit card payments for events with buy-ins up to $10,000. Notably, the previously announced 3% fee for credit card payments has been waived for the upcoming 2025 events. Purchases made via credit cards are coded as regular purchases, potentially allowing players to earn cash back or airline miles.

When a player registers with a debit or credit card and is verified, their seat assignment is accessible through the WSOP+ app, with no physical ticket issued. Questions remain about debit card fees and options for loading large sums onto WSOP+ accounts. Additionally, the use of credit cards is seen as advantageous due to the ability to pay later without fees or penalties, and its integration into the purchase process.

American Express Co. reported first-quarter earnings that surpassed Wall Street expectations, with earnings per share reaching $3.64, a 9% increase year-over-year, against an estimated $3.48. Revenue for the quarter was $16.97 billion, slightly above the anticipated $16.96 billion. The company maintained its full-year guidance, projecting revenue growth of 8% to 10% and earnings per share between $15 and $15.50, subject to the macroeconomic environment.

Read more