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Verizon Wireless to install AmEx payment app on phones
New York City -- A Monday report by the Associated Press said that Verizon Wireless will install apps for American Express Co.'s new online payment service, Serve, on its phones and tablets.
Terms of the agreement between Verizon Wireless and American Express have not been revealed. Verizon’s Serve online payment service is based on pre-funded accounts, and it enables online transactions without entering a credit card number.
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OfficeMax swings to loss in Q2, more closures planned
Naperville, Ill. -- OfficeMax reported Tuesday that it swung to a loss of $3.02 million in the quarter ended June 25, compared with net income of $11.8 million in the year-ago period.
Total sales dipped 0.3% to $1.648 billion from $1.653 billion, but beat Wall Street expectations of $1.63 billion. In the retail segment, sales decreased 0.7% to $767.3 million from $772.7 million. Same-store sales dipped 0.5%, but results were helped somewhat by stronger same-store sales in Mexico.