WASHINGTON -- The U.S. and Japan failed to reach agreement on free-trade talks as President Obama left Japan on Friday without the breakthrough needed to advance a key element of his broader agenda of strengthening America's hand in Asia.
Despite a last-minute push through the night, the two sides could not bridge their differences on tariffs and market access, clouding the prospects for the proposed free-trade pact among a dozen nations that includes the U.S., Japan, Canada and Mexico.
Obama had hoped to come away from his two-day summit with Japanese Prime Minister Shinzo Abe with a bilateral deal that would propel the stalled Trans-Pacific Partnership negotiations to a conclusion.
Instead, as Obama headed for South Korea, the second stop of his four-nation Asia tour, the U.S. and Japan issued a statement that made clear they had fallen short of their goal. Although it said that they "have identified a path forward on important bilateral TPP issues," the statement gave no specifics...
It's a Small World, the 50-year-old Disneyland attraction with the singing automatonic children, is reportedly being turned into a movie.
Deadline.com reported that Jon Turteltaub has been hired by Walt Disney Studios to direct the movie based on the attraction, with writer Jared Stern on board to write the script.
Turteltaub has worked with Disney before, directing the two "National Treasure" films staring Nicolas Cage, and "The Kid" starring Bruce Willis. Most recently, he directed "Last Vegas" with Robert De Niro, Michael Douglas and Morgan Freeman.
Stern has also worked for Disney on "Wreck-it Ralph," "Bolt" and "The Princess and the Frog."
Disney officials could not be reached to comment, but Disneyland has arranged a series of events to celebrate the 50th anniversary of the boat ride with one of the catchiest soundtracks in the world.
The ride opened in 1964 for the New York World's Fair in honor of the United Nations Children's Fund. The attraction was so popular that at the end...
Simon Malls unveiled the $100-million expansion of its Desert Hills Premium Outlets in Cabazon on Thursday, allowing crowds of tourists and shoppers to stream into new off-price stores from Alexander McQueen, Valentino, Fendi and more.
Fifty new outlet stores make up the 146,000-square-foot build-out. The McQueen store, along with the Helmut Lang and Belstaff shops, marks a first foray into the outlet world in the U.S.
Simon also added a 1,100-space parking garage, new landscaping, lighting and wider walkways. The entire center, which hosts 180 stores such as Armani and Prada, got a facelift.
Participants in the ribbon-cutting ceremony were herded into a large white tent in a courtyard flanked by La Perla on one side and Wetzel's Pretzels on the other. Under chandeliers, guests sipped champagne and watched stilt walkers stroll by the Helmut Lang store.
Simon, which has 325 properties total, said Desert Hills is the most productive outlet center in California and one of the top five of...
A former partner with accounting giant KPMG was sentenced to 14 months in federal prison for giving confidential information about his firm’s clients to a golfing buddy, who used it to make more than $1 million in profits trading stocks.
Scott London, 51, pleaded guilty to insider trading last year, admitting that he gave confidential information about KPMG clients, including Herbalife Ltd. and Skechers USA Inc., to his stock-trading friend several times from October 2010 to May 2012.
U.S. District Judge George Wu issued the sentence Thursday in Los Angeles. He also ordered London to pay a $100,000 fine.
Defense attorney Harland Braun had argued for a sentence of 6 to 12 months, noting that his client had already paid dearly for his crime: losing his $900,000-a-year job, his reputation and a host of KPMG friends who are not permitted to talk to him.
The prosecutor in the case, Assistant U.S. Atty. James A. Bowman, said three years was appropriate because of the significant...
A bill that would allow airlines to advertise fares without including taxes and fees would "deceive" travelers about the true cost of flying, according to a trade group for the nation's travel agents.
The proposed federal legislation, which is supported by the nation's airline, allows carriers to advertise base fares with extra fees and taxes shown separately.
The bill would negate a U.S. Department of Transportation rule that took effect in 2012 and requires that all advertised fares show the full cost of a flight, including taxes and fees.
Airlines oppose the rule, saying they want travelers to see how much of the total cost of flying comes from fees and taxes imposed by government.
Some passenger fees are imposed by the airlines themselves, such as fuel surcharges.
“We cannot stand by while anti-consumer legislation is allowed to sail through Congress and unravel protections put in place by the DOT with no input from the traveling public,” said Zane Kerby, president and...
It's not just 20-somethings who are moving in with their parents.
At a time when the sluggish economy has sent scores of young adults back home, older people are quietly moving in with their parents at twice the rate of their younger counterparts.
The surge reflects the grim economic reality that has taken hold in the aftermath of the Great Recession, as middle-age people struggle with issues such as extended unemployment.
Live chat: Join us here at 11 a.m.
Join us for a live video chat at 11 a.m. PDT to discuss this dynamic. Business reporter Walter Hamilton, who wrote about this trend, will be joined by Debbie Rohr, a woman who has been forced by economic necessity to move back in with her mother.
For seven years through 2012, the number of Californians age 50 to 64 who live in their parents' homes swelled 67.6% to about 194,000, according to the UCLA Center for Health Policy Research and the Insight Center for Community Economic Development.
This week Swiss multinational company Novartis AG, maker of Excedrin, announced a restructuring of its businesses with GlaxoSmithKline that included the sale of GSK's oncology products to Novartis for $14.5 billion. Activist investor Bill Ackman and Canadian firm Valeant Pharmaceuticals International Inc. on Tuesday unveiled details of their $45-billion bid for Irvine pharmaceutical company Allergan Inc., which makes the popular Botox wrinkle treatment.
The acquisition of Biomet is expected to close in the first quarter of 2015. The two companies reported revenues that combined totaled $7.8 billion in 2013. The consolidated company is projected to...
Members of the American Postal Workers Union are launching protests Thursday in 27 states to decry a partnership between the U.S. Postal Service and office supply company Staples Inc. to run postal counters at its retail stores.
The agreement between the Postal Service and Staples, announced in November, created a pilot program to operate 82 postal counters at Staples locations across the country. The quick-service counters will be staffed by Staples employees.
Organizers plan to demonstrate at a Staples location in downtown Los Angeles on Thursday, one of four protests planned in California. Of the 82, locations, 32 are in California; none are in Los Angeles.
The postal workers union leadership have criticized the program, saying it will pave the way for privatization of post office jobs, a charge Postal Service officials deny.
It is "taking away good, stable jobs and replacing them with low-wage, high-turnover jobs," Mike Evans, the union's California president, said in a...
In another sign that the hot Southland housing market is throttling down, homes here are staying on the market longer lately.
The share of houses that have been listed for sale for at least two months climbed in the Los Angeles, Orange County, Inland Empire and Ventura regions of Southern California compared with a year ago, according to an analysis by real estate website Trulia.
Thanks to perennially tight supply, Southern California housing markets are still pretty “fast” by historic standards, notes Trulia chief economist Jed Kolko. More than half of all homes in Los Angeles and Orange Counties sold in less than two months -- among the 10 highest rates in the country.
But compared with last year, when prices were significantly lower and the supply of homes for sale was even tighter, the market has slowed a bit. The share of homes on the market for two months in Los Angeles climbed to 44% from 40 a year ago, to 45% from 38% in Orange County and to 53% from 49% in...
Half of those who took the poll said the security screening procedures by the Transportation Security Administration make air travel safer. That rate rises to 57% among those who have taken more than five trips in the last year, according to the poll.