CNN Money: Top business headlines for Dec. 24

    10:19 AM, Dec 24, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Stacey Delikat has your top business and financial news on this Tuesday, December 24.

    Dillard's shatters all-time record
    Dillard's Inc. of Little Rock broke its own all-time record on Friday when its share price closed at $95.58, up 3 percent from its Thursday close. Also on Friday, 882,700 shares (NYSE: DDS) were traded, up from 131.4 percent from Dec. 19. The retailer's share price was trading at $96.19 just after 9 a.m. Monday. Dillard's broke its high in May, when its stock price closed at $93.69 on May 21.

    Hyundai, Kia paying up to $395 million to settle suit
    Hyundai Motor Co. (005380) and Kia Motors Corp. (000270), affiliated South Korean automakers, agreed to spend as much as $395 million to settle lawsuits brought by customers claiming the companies overstated fuel-economy ratings. Hyundai's U.S. unit said in a statement yesterday that it will make payments totaling as much as $210 million to people who bought 2011 to 2013 model-year vehicles affected by the ratings. Customers have the choice of a lump-sum payment from Seoul-based Hyundai or to remain in a fuel-reimbursement program for as long as they own their vehicle. Kia Motors said in a separate statement that its payments to owners of about 300,000 vehicles will total as much as $185 million.

    Jack Dorsey joins Walt Disney board
    Jack Dorsey's schedule just got even busier. Effective immediately, the Square CEO and Twitter (TWTR) co-founder is joining The Walt Disney Company's (DIS) board of directors. "Jack Dorsey is a talented entrepreneur who has helped create groundbreaking new businesses in the social media and commerce spaces," said Robert A. Iger, Disney's chairman and chief executive officer, in a statement today. Iger explained that Dorsey's forward-thinking perspective will prove "extremely valuable" given the company's priorities, which include utilizing the latest technologies and platforms to expand the company's reach. Dorsey, for his part, called Disney a "timeless company" he was honored to join.

    Lamborghini hatches next supercar, Huracan
    It's been a wonderful run for the Lamborghini Gallardo, but now the brand thinks it has come up with a worthy successor: the Huracan. The official rollout of the Huracan won't come until the Geneva Motor Show next year, with first deliveries in the spring, but as 2013 rolls to a close, Lambo officials apparently wanted the world to see what the future holds. Huracan will be powered by a new 5.2-liter V-10 engine that delivers 610 horsepower. It has a rare combination of both direct and indirect gas injection aimed at optimal performance and better fuel economy compared to the Gallardo engine. The engine is combined with a seven-speed dual-clutch transmission.

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