TechCrunch editor Matt Thompson has a good point.Samsung is a brand worth reading and buying, as is Apple, and the two companies have long been close.In his recent article for The Verge, Thompson argues that Samsung is the most valuable company in the market.Samsung has been the leader of the mobile device industry for almost a decade, and that makes Samsung a perfect candidate for Thompson to exa...
Promax has agreed to take over the troubled business of American Express bank as part of an agreement to restructure the business.
The agreement was announced by the banks chief executive officer, Mike Jeffries, in a conference call with investors on Tuesday.
Promax is a unit of Promax Capital Management, which was founded by Jeffries in 2003 and is based in Washington, DC.
It was founded as a bank by Jefferies and two other top executives in New York.
Jefferies was the founder of Chase Manhattan Bank before being promoted to lead the bank in the US in 2005.
The two new executives, Brian Omidyar and Jonathan Gubler, will take over from Andrew G. McCallum, who was named chief executive of Promacx, which operates the American Express business.
Promacx’s shares rose 2.6 per cent on the New York Stock Exchange.