American Express reported record first-quarter net income...

American Express reported record first-quarter net income of $321 million, up from $151.6 million in the same period of 1985. The New York firm noted that profits were up by 15.1% at its travel related services unit, by 195.2% at the Shearson Lehman Bros. investment unit, by 12.8% at American Express Bank, by 30.5% at IDS Financial Services and by 157% at it insurance services unit. Aiding the record profit picture was a $140-million after-tax gain on the sale of the company’s interest in Warner Amex Cable Communications, which was completed in February, and a $34-million gain from the restructuring of its pension plans.