Dec 21 (Reuters) - The New York Times reported the following stories on its business pages on Friday. Reuters has not verified these stories and does not vouch for their accuracy.
* Despite a year that is among the worst in their firms' long histories, the chiefs of both Bear Stearns Cos Inc (BSC.N: Quote, Profile, Research) and Morgan Stanley (MS.N: Quote, Profile, Research) are holding tight to their perches of power.
* New evidence shows that drug makers Merck & Co (MRK.N: Quote, Profile, Research) and Schering-Plough Corp (SGP.N: Quote, Profile, Research) have conducted several studies of their popular cholesterol medicine Zetia that raise questions about its risks to the liver, but the companies have never published those results.
* SLM Corp (SLM.N: Quote, Profile, Research), which for years profited from placing large bets on its own stock going up, now faces a possible loss of more than $1 billion.
* New calculations by the World Bank suggest China may not be so rich after all, and could deflate arguments for a need to revalue the yuan.
* Campbell Soup Co (CPB.N: Quote, Profile, Research) agreed on Thursday to sell its Godiva Chocolatier unit to Yildiz Holding of Turkey for $850 million.
* Apple Inc (AAPL.O: Quote, Profile, Research) on Thursday put to rest the last of a series of lawsuits it brought in a losing and costly effort to put a stop to Web leaks about its product plans.
* Carmakers expect 2008 to be challenging, but hundreds of automotive parts suppliers are anticipating the year ahead to be one of the ugliest ever.
* The Internal Revenue Service has criticized proposed legislation that would scale back audits of wealthy taxpayers in the United States Virgin Islands, saying that the bill would "significantly affect" the agency's efforts to combat offshore tax fraud.
* On Thursday, shares of the nation's biggest insurer of financial risk, MBIA Inc (MBI.N: Quote, Profile, Research), fell 26 percent after it disclosed that it was guaranteeing billions of dollars of the kind of complex debt that unnerved the credit market this summer.
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source: reuters.com
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