Ukraine Funding, Spotify Wrapped, & a Drunk Raccoon

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Adam Rogers
December 04, 2025

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The EU proposed using €90 billion backed by frozen Russian assets to cover two-thirds of Ukraine's needs through 2027. The 'reparations loan' would be repaid once Russia pays war damages. Commission President Ursula von der Leyen said the plan strengthens Ukraine's hand in peace talks and signals to Russia that prolonging the war will be costly.
Belgium, which holds most of the frozen assets, rejected the scheme as too risky, warning it could expose Brussels-based Euroclear to lawsuits and damage its reputation. Foreign Minister Maxime Prévot urged borrowing on international markets instead, calling that method 'robust.
Other EU members offered financial guarantees to address Belgium's concerns, noting Ukraine's economy won't survive 2026 without major support. However, the European Central Bank separately warned that the plan risks undermining confidence in the euro. Leaders meet Dec. 18.

Costco is suing for tariff refunds as cases reach the Supreme Court, joining companies like Revlon and Bumble Bee Foods. Lower courts have twice ruled the tariffs illegal, saying Trump exceeded his authority under a 1977 emergency powers law, a power the Constitution assigns to Congress.
Importers are racing to file claims before Customs finalizes their tariff bills on Dec. 15. After that, companies have just 180 days to protest. Costco says it filed now to avoid losing its place in line if the Supreme Court eventually strikes down the tariffs and allows refunds.
About $90 billion in tariffs are at stake, and experts say the government has never faced refund requests on this scale. Customs routinely issues smaller reimbursements, but a mass unwinding would be unprecedented. Trump has warned that losing the tariffs would trigger an economic collapse, calling it "1929 all over again.”

Bad Bunny dethroned Taylor Swift as Spotify's most-streamed artist globally in 2025, earning over 19.8 billion streams. The Puerto Rican superstar reclaimed the top spot he held from 2020-2022 before Swift's two-year dominance. Swift, The Weeknd, Drake, and Billie Eilish rounded out the top five.
In the US, Swift led, followed by Drake, Morgan Wallen, and Kendrick Lamar. Bruno Mars and Lady Gaga's 'Die with a Smile' was the most-streamed song globally with 1.7 billion streams, while Lamar and SZA's 'Luther' topped US charts.
Spotify Wrapped, released Wednesday, includes new features like fan leaderboards showing where users rank among an artist's streams and tools to compare stats with other listeners. Spotify now has 713 million users globally, up from 626 million last year.

A Pentagon watchdog found Defense Secretary Pete Hegseth risked troops' safety by sharing Yemen strike plans on the Signal messaging app with family. (More)

Federal agents launched immigration raids in New Orleans and Minneapolis on Wednesday, targeting people with past arrests. (More)

The US paused processing green cards and citizenship applications from 19 countries, including Afghanistan and Somalia, citing last week's deadly shooting of a National Guard member by an Afghan suspect. (More)

The US deployed its first one-way attack drone squadron to the Middle East using $35,000 copies of Iran's Shahed drones that Russia and Iran use against Ukraine and Israel. (More)

India reversed an order requiring Apple, Samsung, and other phone makers to preinstall a government security app after two days of criticism that it was a "snooping app" violating citizens' privacy rights. (More)

Israel will let Palestinians leave Gaza through Egypt's Rafah crossing for medical care, but won't allow returns until the last two hostages' remains are recovered. (More)

US stock markets closed higher on Wednesday (S&P +0.30%, Nasdaq +0.17%, Dow +0.86%). Stocks rose after weak jobs data from ADP strengthened investors' belief that the Fed will cut interest rates next week. (More)

Private companies cut 32,000 jobs in November, far worse than expected, as small businesses shed 120,000 workers while larger firms added 90,000, ADP reported. (More)

Delta Air Lines said last month's government shutdown cost it $200 million in lost profit as bookings dropped during the longest shutdown in US history, though travel demand remains strong heading into 2026. (More)

College football's signing period opened Wednesday, with Virginia Tech's new coach bringing in 11 Penn State commits, while the top recruit delayed signing amid LSU coaching uncertainty. (More)

A Los Angeles doctor who sold ketamine to Matthew Perry before his fatal overdose was sentenced to two and a half years in prison after pleading guilty to exploiting the Friends star's addiction for profit. (More)

The Clippers abruptly cut Chris Paul after losing 14 of 16 games, with the 40-year-old Hall of Famer learning he was being sent home via a 3 a.m. text during a road trip. (More)

The International Space Station filled all eight docking ports for the first time, forcing controllers to move a cargo ship aside to make room for three arriving astronauts. (More)

Sick young ants release a chemical smell that tells worker ants to kill them to protect the colony from disease, but queen ants don't sacrifice themselves because they have stronger immune systems. (More)

A Texas firm will resume searching for missing Malaysia Airlines Flight 370 in the Indian Ocean later this month, getting paid $70 million only if it finds the plane that vanished in 2014. (More)

Drunk raccoon found passed out in Virginia liquor store.

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