Money Minute: Vytorin, Banks, Bernanke

BusinessMoney Minute: Vytorin, Banks, BernankeMoney Minute: Vytorin, Banks, BernankeThe Associated PressA new study shows that the cholesterol drug Vytorin doesn't lower the risk of major heart valve problems and need for related surgical procedures. The AP's Mark Hamrick reports on that and Monday's other toheadlines. (July 21)The cholesterol drug Vytorin doesn't lower the risk of major heart valve problems and need for related surgical procedures. According to a large-scale study, Schering-Plough and Merck's drug was no better than placebo at lowering a the risk of major cardiovascular events. Vytorin also failed to meet one of its two secondary goals, which both involved reducing certain types of heart problems.--------------------------Bank of America said its second-quarter profit fell 41 percent. But the nation's second-largest bank still beat Wall Street expectations. Bank of America reported income of $3.41 billion, or 72 cents per share, on $20.32 billion in revenue. That compared with net income of $5.76 billion, or $1.28 per share, on $19.63 billion in revenue a year earlier.--------------------------Federa l Reserve Chairman Ben Bernanke has taken extraordinary steps to ease the nation's economic problems. His own finances are a bit more straightforward. The chairman's financial disclosure form shows his holdings last year were in no-frills investments, including U.S. Treasury securities, Canadian Treasury bonds, mutual funds and annuities. Bernanke's salary last year was $186,600. This year it rises to $191,300. ___ ___, The Associated Press.(****END****)