Financial news on January 20, 2007

Business and Financial news
Flames Flare Over Naked Shorts

A vicious dispute on certain stock message boards actually involves the chief executive of a publicly traded corporation and a longtime business journalist. Read more..

By DAN MITCHELL - The New York Times

I Want My Howard Stern and Oprah

When it comes to new and emerging technologies like satellite radio, what exactly constitutes competition? Read more..

By JOE NOCERA - The New York Times

Patent Trial Near, Bristol-Myers Counts on Resilience

The trial over the patent for the drug Plavix will be critical for Bristol-Myers, which derives nearly a third of its revenue from it. Read more..

By STEPHANIE SAUL - The New York Times

Richard A. Musgrave, 96, Theoretician of Public Finance, Dies

Richard A. Musgrave was an economist who has been called the father of modern public finance. Read more..

By MARY WILLIAMS WALSH - The New York Times

State Farm Settles One Hurricane Katrina Suit

The insurer agreed to pay an estimated $1 million to settle a lawsuit by a Mississippi Gulf Coast resident whose house was destroyed. Read more..

By JOSEPH B. TREASTER - The New York Times

States Study Marketing of Lilly Pill

State prosecutors have demanded Eli Lilly turn over information about the way it promoted the drug Zyprexa. Read more..

By ALEX BERENSON - The New York Times

Trade Deficit Stubbornly Defies the Dollar’s Slide

Although the dollar has lost a lot of ground, the nation’s trade imbalance with the world has continued to rise. Read more..

By EDUARDO PORTER and MARK LANDLER - The New York Times

Two Are Sentenced for Fraud Involving Trading of Stocks

Two former N.Y.S.E. traders were each sentenced to six months in prison and fined $250,000. Read more..

By BLOOMBERG NEWS - The New York Times

Up Quarter Ends Rough Year for Citigroup

Citigroup’s operating profit rose 3.2 percent, led by a solid trading performance, improvement in its consumer business and big gains from its alternative investment unit. Read more..

By ERIC DASH - The New York Times

Western Companies Caught Up in Chinese Bribery Inquiry

Chinese police have detained 22 people from several large companies, including ABB, McDonald’s, McKinsey & Company and Whirlpool. Read more..

By DAVID BARBOZA - The New York Times

See what else happened on January 20, 2007