Earnings

American Express Co.’s quest to be accepted everywhere from the corner bodega to the nail salon down the street is paying off.

Earnings were bolstered by lower taxes and higher asset-servicing fees, but revenue was flat and analysts raised concerns about a shrinking deposit base.

The North Carolina company reported slightly lower costs and a stable net interest margin in the third quarter.

Commercial and industrial lending rose 8% in the third quarter at the Cleveland bank, but other factors drove its double-digit gain in profits as overall loan growth was modest.

Banks ask Congress for help with a rule that forces them to estimate loan losses; The network will allow banks to "exchange and verify trade information."