BOSTON (Reuters) - For the rare comeback story among money managers, look to MFS Investment Management, one of the oldest names in the mutual fund business but also one of the most battered after the Internet bubble popped in 2000. Getting caught up in the industry's trading scandals just as stocks recovered only made matters worse.
Reuters
Asian shares up, but euro pressured on EU summit cynicism
TOKYO (Reuters) - Asian shares rose on Wednesday but the euro was capped as investors concluded a European summit this week will fail to take concrete action to resolve the euro zone debt crisis, with Germany staunchly opposed to sharing the region's debt burden.
U.S. charges 24 people in massive hacking sting
NEW YORK (Reuters) - U.S. law enforcement officials on Tuesday said 24 suspected hackers had been arrested in a sting operation spanning four continents that targeted online financial fraud of stolen credit card and bank information.
Analysis: Maybe the biggest risk is it's all ok
LONDON (Reuters) - Perhaps the biggest investor shock of the second half of 2012 would be if everything turns out OK and the world doesn't fall apart at the seams.
Boeing taps salesman Conner to run commercial planes
SEATTLE (Reuters) - Boeing Co appointed a new head of its commercial plane unit on Tuesday, turning to a veteran engineer-turned-salesman to help gain the upper hand in its battle with Airbus for the $100 billion-a-year aircraft market.
Big banks craft "living wills" in case they fail
NEW YORK/WASHINGTON (Reuters) - Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.
Citi fills global retail role with Larsen in Hong Kong
HONG KONG (Reuters) - Citigroup Inc has named Jonathan Larsen as global head of its retail bank, filling the position for the first time with an Asia-based banker.
Sony CEO tells shareholders revival plan will work
TOKYO (Reuters) - Sony Corp's new CEO, Kazuo Hirai, on Wednesday defended retaining his predecessor, Howard Stringer, as chairman of the board and promised his turnaround strategy will save Japan's troubled consumer electronics giant.
Analysis: Morgan Stanley faces Facebook fallout, limits damage
NEW YORK (Reuters) - Morgan Stanley was quick to dismiss suggestions its status as the king of initial public offerings for Silicon Valley was under threat because of the botched Facebook Inc IPO last month. And that confidence may be warranted.
Glencore expected to sweeten terms to win Xstrata
LONDON (Reuters) - Commodities trader Glencore , scrambling to save its $30 billion offer for miner Xstrata , is expected to sweeten its bid in order to seal the deal, after key shareholder Qatar said it could oppose the takeover on current terms.
