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The refugee crisis is costing Germany a lot of money. Germany’s federal states are planning to spend around 17 billion euros ($18.7 billion) on dealing with the refugee crisis in 2016, the newspaper Die Welt said, citing a survey it conducted among their finance ministries.
DuPont is preparing job cuts. DuPont will cut 1,700 jobs in its home state of Delaware and thousands more globally as it prepares for its merger with Dow Chemical.
Brazil’s budget deficit is growing. The South American giant posted a primary budget deficit of 19.6 billion reais ($5.1 billion) in November, up sharply from $3 billion in October, the central bank said.
Shorting Ferrari stock is getting expensive. Nearly all of the Ferrari shares available for borrowing by short sellers have been lent out, pushing the cost of borrowing the few remains shares sharply higher, according to a Reuters report.
Barclays has to pay another fine. Barclays will pay more than $13.75 million to settle US regulatory charges that it let retail brokerage customers make unsuitable mutual fund transactions, including more than 6,100 fund switches, over a five-year period.
Russia is making cuts to its space program. A newspaper published a report that billions of dollars of cuts may be afoot including to ambitious Moon exploration plans.
Several Russian government ministries were engaged in revising the space program up to 2025, Roscosmos told Reuters.
Sao Paulo is looking to tax Uber users. Sao Paulo’s city hall issued a proposal to levy fees on the ride-hailing service Uber, the second attempt by Brazil’s largest city to regulate the fast-growing service that has sparked anger among taxi drivers.
House prices are rising in America. The Standard & Poor’s/Case-Shiller 20-city home price index rose 5.5% in the 12 months ending in October, up from a 5.4% pace in September.
Norway is tightening its asylum rules. Norway’s center-right government proposed tightening the country’s asylum rules to avoid what the immigration minister described as “violent consequences” for the country’s welfare system.
A musician is suing Spotify for $150 million for copyright theft. David Lowery, best known for leading alternative rock bands Cracker and Camper Van Beethoven, asked a US judge to allow a class action suit on behalf of “hundreds of thousands” of potential plaintiffs he believes were affected.
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