Diageo sees U.S. uptick, eyes Fortune spirits unit

U.K.-based Diageo PLC, the world’s largest spirits company by volume, said Tuesday it is seeing signs of a recovery in demand in the U.S., though the consumer environment in the country remains unsettled.

“The fiscal 2011 situation remains unsettled, but we see signs of recovery. There is still high unemployment and low consumer confidence, but there are emerging, positive signs of life in fall retail sales. We are encouraged (by that),” Ivan Menezes, Diageo’s president of North America and chairman of the Asia-Pacific region, said on a call with investors. Get the full story »

Best Buy shares tank 15% on weaker sales

Top consumer electronics chain Best Buy Co. Inc. reported lower-than-expected quarterly profit on a surprise drop in sales at established stores and a decline in its U.S. market share.

The lackluster report from the retailer seen as a bellwether in consumer electronics pushed its shares down 14.5 percent in morning trading and cast a shadow on the strength of the recovery in the consumer-driven U.S. economy.

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WikiLeaks’ Assange granted bail in Britain

A British judge granted bail to WikiLeaks founder Julian Assange Tuesday, saying he must abide by strict conditions as he fights extradition to Sweden in a sex-crimes investigation.

The 39-year-old Australian has been in a London prison for a week after surrendering to Scotland Yard due to a Swedish arrest warrant. Get the full story »

Nissan, Mitsubishi strengthen ties in Japan

Nissan Motor Co.  and Mitsubishi Motors Corp.  said Tuesday that they will supply more models to each other and explore  jointly developing vehicles as they look to spark sales in the sagging Japanese market and to meet increasing demand in emerging markets.

The two Japanese carmakers said that Nissan will provide a light van and upper-end sedans to Mitsubishi Motors to broaden its lineup in the domestic market, while Mitsubishi will provide a sport-utility vehicle model to Nissan to enhance its growing SUV segment in the Middle East. Get the full story »

Ikram to move fashion boutique to Huron St.

Crain’s Chicago Business | Chicago fashion designer Ikram Goldman, known for her ties to First Lady Michelle Obama, is moving her boutique from Rush Street to larger quarters on Huron.

CEOs expect more hiring as sales grow

Top corporate executives expect to hire more workers and spend more on their companies over the next six months.

A survey from Business Roundtable, an association of CEOs of big U.S. companies, shows 45 percent of executives say they expect their companies to add more workers. That’s the highest percentage who have said they planned to add jobs since the survey began in late 2002. Get the full story »

U.S. retail sales up more than expected in November

Sales at U.S. retailers rose more than expected in November as consumers splurged on clothing and other items at the start of the holiday season and receipts at gasoline stations surged, more evidence the economic recovery gathered steam in the fourth quarter. Get the full story »

Oprah Winfrey prepares for launch of OWN network

American talk show host Oprah Winfrey, third from right, is joined by Australian stars, from left, Nicole Kidman, Keith Urban, Hugh Jackman, Olivia Newton John and Russell Crowe in Sydney Tuesday. (AP/ Jeremy Piper)

The long-awaited OWN: Oprah Winfrey Network is gearing up for its premiere on New Year’s Day. And the bold ambition of this venture would spark doubts if there were anybody else’s name attached. Consider: a cable network repurposed from Discovery Health and all-dependent on just one person’s identity, vision and marquee power.

But that person is Winfrey, a cultural force. Now, as she moves through the final months of her daytime syndicated talk show, which will end next September after 25 years, OWN is poised to become Winfrey’s new TV home base.

Instead of a daily hour boasting Winfrey’s on-air presence as host, OWN will be a round-the-clock environment in which — her network vows — she will often be seen but, what is more important, always be felt. She will be the network’s spiritual curator, maintaining a constant presence, even from off-camera, as she offers a slate of programs all guaranteed to meet her “Live Your Best Life” mandate. Get the full story »

McDonald’s CEO attacks children’s food police

From the Financial Times | The chief executive of McDonald’s has described critics of the company who have tried to curtail the sale of Happy Meals aimed at children as “food police” and accused them of undermining parents in making decisions for their families, in an interview with the Financial Times

“We’ll continue to sell Happy Meals,” said Skinner adding that the new rule “really takes personal choice away from families who are more than capable of making their own decisions”. Get the full story>>

Blackhawk Hjalmarsson buys $1.32M River West home

ELITE STREET | By Bob Goldsborough | Chicago Blackhawks defenseman Niklas Hjalmarsson has paid $1.32 million for a four-bedroom, 4,000-square-foot town house fronting the Chicago River in a gated development in River West. Get the full story »

Ebert’s new ‘At the Movies’ debuts Jan. 21

“Roger Ebert Presents At the Movies,” the new Chicago-based public-television movie-review show being shepherded by the Chicago Sun-Times’ esteemed film critic, is set to make its debut Jan. 21 in 192 U.S. markets, Ebert announced Monday night via Twitter.

The program also will be available to U.S. servicemen and women around the world through the Armed Forces Network, Ebert said.

Illinois Lincoln tourism drops post-bicentennial

A post-bicentennial drop in tourism numbers reduced attendance by more than a third at some Lincoln sites in Illinois this year.Hotel stays also fell.

But tourism and historic-site managers say the fall-off from the 200th anniversary celebration of Abraham Lincoln’s birth in 2009 was anticipated. They remain encouraged that numbers in most cases were ahead of 2008 Get the full story »

World’s 5 largest airlines from Asia, Latin America

The world’s five biggest airlines now hail from Asia and Latin America, highlighting the industry’s shift away from the U.S. and Europe to higher-growth countries, the International Air Transport Association said Tuesday.

Air China is twice the size of either Delta in the U.S. or Germany’s Lufthansa. But despite emerging markets’ strength and a broad earnings rebound this year, weak economic conditions in Europe and low margins are acting as a drag on profits, the group warned. Get the full story »

The day ahead in business

Reports: Weekly jobless claims, 7:30 a.m.; Wholesale trade inventories for October, 9 a.m.; Freddie Mac releases weekly mortgage rates.

Major earnings: Borders Group Inc., Smithfield Foods Inc.

CME takes out $1B credit line to cover defaults

Bloomberg News | CME Group Inc. has gotten a $1 billion revolving credit line arranged by JPMorgan Chase & Co., Bank of Montreal and Bank of America Corp. to use in the event of clearinghouse defaults or problems with money transfers.