Europe is winning its energy war with Russia. The region's economy and politics are proving more stable than its leaders feared earlier in their confrontation with Moscow. Now the question facing them is whether they want Ukraine to win the shooting war.
The rift between Germany and many of its North Atlantic Treaty Organization allies, including the U.S., over whether to supply Kyiv with German-made Leopard 2 tanks reflects continuing differences among Western leaders over the stakes and risks of Russia's war on Ukraine.
Juventus Hit by Soccer League Points Penalty; Shares Slide
Shares in Juventus Football Club SpA fell sharply Monday after the club was docked 15 points in the Italian soccer league for accounting infringements.
In a statement late Friday, the Turin-based club said an Italian court had overruled a previous decision in Juventus's favor, resulting in a 15-point penalty in the Serie A league. Sporting Director Federico Cherubini will meanwhile be banned from working in Italian soccer for 16 months and possibly for longer on the international stage.
Israel's Netanyahu Fires Key Ally in Challenge for New Government
TEL AVIV-Israeli Prime Minister Benjamin Netanyahu fired a crucial ally from his cabinet after the country's supreme court annulled the appointment, leaving the stability of the newly sworn-in coalition in question.
Israel's Supreme Court ruled last week that the ministerial appointment of Shas party leader Aryeh Deri was "extremely unreasonable" in light of his conviction last year for tax evasion. The court also noted his subsequent promise to quit political life as part of a plea deal and his conviction two decades ago on bribery, fraud and breach-of-trust charges while in office, for which he served nearly two years in prison.
Pressure Builds on Germany to Approve Tanks for Ukraine
Pressure mounted on Germany to approve the transfer of its Leopard 2 battle tanks to Ukraine, a day after Western allies meeting at the U.S. Ramstein Air Base in Germany failed to reach an agreement about sending armored vehicles.
Edgars Rink?vi?s, Latvia's foreign minister, said on Twitter Saturday morning that he and his counterparts from Lithuania and Estonia "call on Germany to provide Leopard tanks to Ukraine now. This is needed to stop Russian aggression, help Ukraine and restore peace in Europe quickly. Germany as the leading European power has special responsibility in this regard."
Eritrean Troops Endanger Ethiopian Peace Deal
A peace accord meant to end Ethiopia's civil war is hitting a stumbling block, as troops from neighboring Eritrea who had been fighting on the side of the federal government have failed to withdraw, local and international officials say.
Two-and-a-half months after rebel leaders from Ethiopia's northern Tigray region and the federal government signed a cessation-of-hostilities agreement on Nov. 2, Eritrean soldiers still control more than a dozen towns across Tigray, where they have continued to kill and abduct civilians and block aid for millions of people, local and international officials say.
GLOBAL NEWS
Market Recovery Hinges on Quick Inflation Drop
Behind this year's improved start for markets lies a broad wager that inflation will soon post a once-in-a-generation decline.
Market-based gauges of inflation expectations project the annual pace of rising prices will tumble in the months ahead roughly as fast as during the recession that followed the 2008 financial crisis-or when Fed Chairman Paul Volcker used double-digit interest rates to crush the soaring inflation of the late 1970s.
Fed Sets Course for Milder Interest-Rate Rise in February
Federal Reserve officials are preparing to slow interest-rate increases for the second straight meeting and debate how much higher to raise them after gaining more confidence inflation will ease further this year.
They could begin deliberating at the Jan. 31-Feb. 1 gathering how much more softening in labor demand, spending and inflation they would need to see before pausing rate rises this spring.
Debt Ceiling Looms Over Capitol as Congress Returns to Work
WASHINGTON-A deeply divided Congress will return to work this week, pushing ahead with partisan priorities in the Senate and House while also gearing up for a fight over how lawmakers will address raising the debt ceiling before a potential default later this year.
The Senate, narrowly controlled by Democrats as it opens its new session, is expected to focus primarily on confirming President Biden's executive and judicial nominees in the coming weeks. Immigration is emerging as one area of possible compromise after a group led by Sen. Kyrsten Sinema (I., Ariz.) and Sen. John Cornyn (R., Texas) co-hosted a bipartisan delegation of senators to the Texas and Arizona borders during the January recess.
String of Classified Document Discoveries Seen Tarnishing White House
WASHINGTON-Democrats expressed concern Sunday that multiple discoveries of classified documents at President Biden's private home and a former office will overshadow his agenda and open the door to more Republican-led investigations in the House as lawmakers return to Washington.
The Justice Department searched Mr. Biden's home in Wilmington, Del., for more than 12 hours Friday, an examination that caused authorities to take possession of additional items with classified markings and some related materials, according to a statement released late Saturday by Mr. Biden's personal attorney Bob Bauer.
Jeff Zients to Be Named White House Chief of Staff
WASHINGTON-President Biden is planning to name Jeff Zients, an investor and former Obama administration official who led the White House's Covid-19 response, to be his next chief of staff, according to people familiar with the decision.
Ron Klain, Mr. Biden's current chief of staff, is expected to step down in the coming weeks after more than two years on the job. The Washington Post earlier reported that Mr. Zients was expected to replace him. Mr. Zients didn't respond to requests for comment, and the White House declined to comment.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
01-23-23 0626ET
