DETROIT�Volkswagen AG on Thursday replaced the head of its U.S. operation after several months of slumping sales for the auto maker's mass market VW brand.
Dec 12 (Reuters) - Shares of Hilton Worldwide Holdings Inc , the world's largest hotel operator, rose 7 percent in their New York Stock Exchange debut on Thursday.
JPMorgan Chase is close to a $2 billion settlement with federal authorities to avoid prosecution for its failure to properly alert regulators of its suspicions about Ponzi scheme mastermind Bernard Madoff, according to reports.
Merrill Lynch agreed to pay $13.8 million in penalties Thursday on charges brought by federal regulators that the bank misled investors in asset-backed securities prior to the financial crisis in 2008.
... Print. * European shares slip, led by banks. * Stronger-than-expected U.S. retail sales data adds pressure. * Cut in Fed stimulus could come as early as next week.