This morning, Citigroup lowered its price target on shares of American Express to $58 as a weakened macroeconomic environment in Europe could slow growth.
"The alternative — raising ticket prices in a weakening environment for air travel — is probably a losing proposition".
In the manufacturing sector, the rate of business activity in the Midwest rose in July, as somewhat stronger new orders offset a weakening environment for labor.
We saw clear signs earlier this year of a weakening environment and the recent volatility in the financial markets has reinforced our view that consumer and business sentiment is likely to deteriorate further, translating into weaker economies around the globe well into 2009, Chenault added.
Evolved resistance to endemic microparasites may reduce susceptibilities, but as barriers to microparasite distributions are weakened, and environments become more stressful, unexposed populations may be impacted and pathogenicity enhanced.
The beauty products maker Estée Lauder Companies lowered sales and earnings forecasts for its fiscal year 2002 yesterday, saying the recent terrorist attacks added to a weakening retail environment.
"The tragic and senseless events of Sept. 11 exacerbated an already weakening advertising environment, not only in the U.S., but in the U.K. and Australia as well," Rupert Murdoch, the chairman of the News Corporation, said in a statement.
"As we head into a weakening consumer environment, we believe that the group is well positioned both operationally and financially, and has a clear strategy to deliver long-term growth.
Mr Simons added that it would be "disingenuous" to blame the closures and loss of 3,200 jobs on a weakening retail environment, despite a series of downbeat trading statements from Austin Reed, Laura Ashley and GUS over the past week.
