Amex hit by credit card defaults

Profits plunge at Credit Agricole
Credit Agricole reports a 94% fall in second-quarter profits after the bank is hit by a loss at its investment banking division.

Credit Suisse returns to profit
Credit Suisse's second-quarter profits beat expectations, helped by a good performance from its private banking arm.

Philips sees 54% fall in profits
Philips Electronics says second quarter profits fell by more than half despite strong sales in emerging markets.

Profits at Morgan Stanley tumble
Morgan Stanley posts a sharp drop in second-quarter profits to $1.01bn as the credit crunch bites.

Barclays in £1bn credit writedown
Barclays takes a £1bn hit on its credit assets, confirming its first-quarter profits will be lower than last year.