Wal-Mart and Amex news alert

Wal-Mart Stores and American Express will hold a conference call today to make a financial services announcement, the two companies said in a statement yesterday. Details of the announcement, which will take place at 8.30 am (1.30pm GMT), were not disclosed. Walmart has long tried to serve low-income shoppers with little access to credit. It has previously said about 85 per cent of transactions at its US stores are paid for with cash.