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Three American citizens imprisoned for years by China have been released and are returning to the United States, the White House said Wednesday, announcing a diplomatic agreement with Beijing in the final months of the Biden administration. The three are Mark Swidan, Kai Li and John Leung, all of whom had been designated by the U.S. government as wrongfully detained by China. Swidan had been facing a death sentence on drug charges while Li and Leung were imprisoned on espionage charges. “Soon they will return and be reunited with their families for the first time in many years,” the White House said in a statement. The release comes just two months after China freed David Lin, a Christian pastor from California who had spent nearly 20 years behind bars after being convicted of contract fraud. U.S.-China relations have been roiled for years over major disagreements between the world’s two largest economies on trade, human rights, the production of fentanyl precursors, security issues that include espionage and hacking, China’s aggressiveness toward Taiwan and its smaller neighbors in the South China Sea, and Beijing’s support for Russia’s military-industrial sector. The release of Americans deemed wrongfully detained in China has been a top agenda item in each conversation between the U.S. and China, and Wednesday’s development suggests a willingness by Beijing to engage with the outgoing Democratic administration before Republican President-elect Donald Trump’s return to the White House in January. Trump took significant actions against China on trade and diplomacy during his first term. He has pledged to continue those policies in his second term, leading to unease among many who fear that an all-out trade war will greatly affect the international economy and could spur potential Chinese military action against Taiwan. Still, the two countries have maintained a dialogue that has included a partial restoration of military-to-military contacts. President Joe Biden and Chinese leader Xi Jinping met this month to discuss potential improvements. In a separate but related move, the State Department on Wednesday lowered its travel warning to China to “level two,” advising U.S. citizens to “exercise increased caution” from the norm when traveling to the mainland. The alert had previously been at “level three,” telling Americans they should “reconsider travel” to China in part because of the “risk of wrongful detention” of Americans. The new alert removes that wording but retains a warning that the Chinese government “arbitrarily enforces local laws, including exit bans on U.S. citizens and citizens of other countries, without fair and transparent process under the law.” The Biden administration had raised the cases of the detained Americans with China in multiple meetings over the past several years, including this month when Biden spoke to Xi on during the Asia-Pacific Economic Cooperation summit in Peru. Politico was first to report the men’s release, which it said was part of a prisoner swap with the U.S. The White House did not immediately confirm that any Chinese citizens had been returned home. Li, a Chinese immigrant who started an export business in the U.S., was detained in September 2016 after flying into Shanghai. He was placed under surveillance, interrogated without a lawyer and accused of providing state secrets to the FBI. A U.N. working group called his 10-year prison sentence arbitrary and his family said the charges were politically motivated. Leung was sentenced last year to life in prison on spying charges. He was detained in 2021, by the local bureau of China’s counterintelligence agency in the southeastern city of Suzhou after China had closed its borders and imposed tight domestic travel restrictions and social controls to fight the spread of COVID-19. After Leung's sentencing, the U.S. recommended — though without citing specific cases — that Americans reconsider traveling to China because of arbitrary law enforcement and exit bans and the risk of wrongful detentions. Swidan had been jailed for 12 years on a drug charge and, along with Li and Leung, had considered by the State Department to be wrongfully detained.

George Strait gets star-studded salute at 2024 CMA Awards by Miranda Lambert, Chris Stapleton, morePolice rescues two, arrests 4 suspected kidnappers in Anambra

Liverpool's Zara store sells more of one item than any other cityCHIPOTLE fans could be in for a shock as the chain's new finance chief considers price increases on three popular menu items. The Mexican grill restaurant with around 3,500 locations could soon be hiking prices on its burritos and rice bowls as the company battles rising costs. There have already been six price increases between 2021 and 2024 which has seen some customers already launch boycotts claiming that the chain is no longer affordable. The latest discussion about raising prices comes as raw ingredients like avocados, queso and sour cream become more expensive for Chipotle to buy. This increase could be offset by changes to prices on menus, meaning it will directly impact customers. But, to keep fans loyal, the chain is reportedly hoping to give them different offers and discounts. read more on chipotle Regardless of any increased costs, Chief Financial Officer Adam Rymer told The Wall Street Journal that customers still get better overall value compared to rival chains. Rymer, who took over as CFO in October said that any price increase that takes place will be "modest" as he hopes to keep menu items affordable for customers. It is not known when this supposed price hike would take place. Rymer has been with the Mexican restaurant chain for 15 years, previously taking on roles including vice president of finance and compensation analyst. Most read in Money His predecessor ex-CFO Brian Niccol left the chain in August to become the new CEO of Starbucks which saw Rymer's start date move from January to October. As other fast-food chains have been hit hard by inflation , losing custom and staff, Chiptole has managed to push on through the pressures facing the industry. In the company's latest quarterly results, its same-store sales increased by 6 per cent compared to the same time last year. Also, revenue grew by 13 per cent to $2.8 billion year over year. Despite this success, following the latest news of possible increases, outraged customers took to Facebook to share their thoughts. Many highlighted that previous rises in costs pushed them away from the chain. "Is already pricey enough. Haven't eaten Chipotle in months," one wrote. "Stopped eating there several months ago - skimpy servings for the high price we were paying - and we never added meat = vegetarian!" another added. "Good. I need to start eating healthier and more at home," a third noted. Others warned customers to "get ready to pay more for EVERYTHING" and that Chipotle should prepare "to lose customers." One even accused the chain of "greed." But, a senior analyst at Baird claims that the chain's price hikes have not had a huge effect on its customer base yet and that another one would "likely be digestible," per the WSJ. David Tarantino said that one reason for this is that Chiptole customers are typically more well-off than those of other fast-food chains and that its products offer better value overall. He said: "[Chipotle's] price increases are lagging what we're seeing elsewhere, and that leads to a much stronger value proposition." Read More on The US Sun It comes just months after the chain's CEO was forced to issue a change after diners threatened to boycott. The U.S. Sun has reached out to Chipotle for comment regarding the menu price increase.None

Trump selects special envoy for Ukraine and Russia

Ashley Swearengin looks on as Gov. Gavin Newsom answers questions from reporters Thursday. Photo by Frank Lopez Gov. Gavin Newsom made a stop in Fresno on Thursday, lauding the region’s economic impact to the state and country, addressing Californian’s environmental and energy concerns and highlighting plans to strengthen the San Joaquin Valley’s economy. Newsom’s held a news conference at the Fresno City College West Fresno Center’s Automotive Technology Center, praising the work of Central Valley organizations and leaders to boost the local economy and create jobs. Local and state leaders joined the Newsom at the event, including Central Valley Community Foundation CEO Ashley Swearengin, Assemblymember Joaquin Arambula and Sen. Anna Caballero. The Sierra San Joaquin Jobs Initiative is a 20-year, $58 billion investment plan for the Central San Joaquin Valley aiming to create 138,000 new jobs in sectors including construction, health care, education, manufacturing, clean energy and food systems. Since 2022, the state has invested $287 million, including $5 million per each of California’s 13 regions; $39 million for pilot projects across the state; and $14 million per region to develop projects that advance their strategic centers. Newsom said he recognizes there is an air of anxiety due to the current political and economic situation, but the initiative is a cause for optimism. “In January, we will be releasing the most comprehensive, nuanced, sectorial strategy and workforce strategy in the state’s history,” Newsom said. Newsom said $120 million in competitive grants will go out for early, ready-to-go projects. Newsom said the state is currently seeing positive trends with the economy, inflation and employment, but people don’t feel that, instead feeling that “the economy is not supportive or nourishing.” Newsom said it’s a point of pride that other states and nations model their own plans after California’s Low Carbon Fuel standards. Newsom said Californians have been “fleeced” by oil companies for decades. He pointed out that two years ago, residents were paying $2.61 cents more per gallon than the national average at a time when the state did not increase taxes, fees or impose any new regulations. He said oil companies took advantage of market conditions. “If you think big oil has your back, you’ve got another thing coming,” Newsom said. He noted concerns employers in the manufacturing sector have about rising energy costs, and said he wants to work with the legislature to move more aggressively to manage costs. In October, Newsom issued an executive order that asks the California Public Utility Commission to evaluate electric ratepayer programs and costs of regulations and make recommendations on additional ways to save consumers money. In early November, the California Air Resources Board passed new special blend mandates for the state’s Low Carbon Fuel Standard, which require that refiners produce — and retail gas stations sell — a new California special blend in 2025. Newsom said that no other Democrat worked more closely with the Trump administration than him, but did call out Trump’s actions against California. “At the same time, he took $1 billion of your high-speed rail money. He tried to take your crime grants. He tried to vandalize most of the progress of the last half century. We know exactly what he intends to do — he’s been very honest about that,” Newsom said. Arambula said that for decades, communities in Southwest Fresno have been neglected when it comes to investment. He said the West Fresno campus will give opportunities to the next generation workforce including professional training and well-paying jobs. “I’m grateful that State Center Community College District has spent the time and energy to develop this campus and give students those opportunities for tomorrow,” Arambula said. Swearengin said that a thriving Sierra San Joaquin region is essential to California’s future. She highlighted that the region produces 25% of the nation’s food supply. Even though the region is situated in 15% of the state’s land mass, it is expected to produce 25% of California’s future renewable energy needs, Swearengin said. She said when the $58 billion plan is implemented over 20 years, the region could expect to see nearly $100 billion in economic impact and support more than 2,000 manufacturers, 6,000 small businesses and childcare for more than 40,000 families. “Gov. Newsom’s commitment to this scale and quality of work I’ve not seen before, and it is welcome in our region. Words on page do not transform, but they do mobilize,” Swearengin said. Gov. Gavin Newsom made a stop in Fresno on Thursday, Fresno City Councilmember Tyler Maxwell and other local leaders announced Seniors Helping Seniors, a Pennsylvania-based company founded in 1998 that California's poultry and dairy industries are being slammed by rampantGeorge Strait gets star-studded salute at 2024 CMA Awards by Miranda Lambert, Chris Stapleton, more

New Delhi: Switzerland has decided to withdraw the Most Favoured Nation (MFN) status granted to India, leading to higher taxes for Indian businesses operating in the country. Starting January 1, 2025, Indian companies will face a 10 per cent withholding tax on dividends, marking a significant change in the tax landscape between the two nations. This decision follows a ruling by the Indian Supreme Court in October 2023 regarding a tax dispute involving Nestlé, the Swiss food giant. Why Switzerland Withdrew The MFN Status?The MFN clause in the tax treaty between India and Switzerland previously allowed Indian businesses to enjoy reduced tax rates based on Switzerland’s treaties with other countries. However, the Supreme Court ruled that such benefits could not be automatically extended to India without explicit notification under Indian tax laws. Following this ruling, Switzerland’s Federal Department of Finance (DFF) announced the suspension of the MFN clause in its Double Taxation Avoidance Agreement (DTAA) with India. As a result, Indian entities will no longer benefit from the lower tax rates previously applied under the MFN provision. Implications For Indian BusinessesThe withdrawal of the MFN clause means Indian companies operating in Switzerland will face higher taxes on income earned in the European nation. For instance, the withholding tax on dividends will rise to 10 per cent, significantly impacting Indian firms in sectors such as finance, manufacturing, and technology. Previously, the MFN provision allowed Indian businesses to benefit from tax rates as low as 5 per cent due to Switzerland’s agreements with countries like Colombia and Lithuania. With this provision removed, Indian businesses may need to adjust their tax planning strategies to offset the increased liabilities. The Legal BackdropThe issue stems from a tax dispute involving Nestlé, where the Delhi High Court initially ruled in favor of India benefiting from Switzerland’s treaties with other nations. However, the Supreme Court overturned this decision, clarifying that changes in tax rates under international agreements cannot be applied retroactively unless officially notified under Section 90 of India’s Income Tax Act. This interpretation has led Switzerland to revoke its unilateral application of the MFN clause, thus ending the preferential tax treatment for Indian companies. Also Read: Vishal Mega Mart, Mobikwik, And Sai Life Sciences IPO: How Investors Responded To The 3 Offerings? Check Economic And Trade RelationsThe tax changes come at a time when India and Switzerland are strengthening trade ties. In 2023, India signed a Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA), which includes Switzerland. The agreement focuses on boosting trade and investment in goods, services, and intellectual property. While the withdrawal of the MFN status poses challenges, the broader opportunities under TEPA and India’s ongoing negotiations for a free trade agreement with the European Union may help Indian businesses navigate these changes. What’s Next For Indian Companies?With the new tax structure taking effect in 2025, Indian businesses are likely to reassess their strategies. Companies may explore alternative investment routes or renegotiate agreements with Swiss counterparts to reduce the tax burden. Although the loss of MFN status adds short-term hurdles, experts believe that India’s broader trade engagements with Europe could pave the way for long-term economic growth and expanded opportunities for Indian businesses. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Economy, Business Economy and around the world.