European Midday Briefing : Positive Mood Ahead of -2-

The EU decision, which looks likely to be agreed on Wednesday, would see member states follow the decision of U.S. authorities in tightening controls on arrivals from China ahead of the lifting of travel controls by Beijing in the coming days. Several EU member states including France, Spain and Italy have announced independent controls on arrivals from China.

Russia's Basic Errors Jeopardize Its Ukraine Forces, Military Analysts Say

Russian forces are repeating basic errors that are compromising the security and safety of their own soldiers in occupied Ukraine, according to military analysts, including failing to shut down cellphone use in areas where troops are concentrated within range of Ukrainian artillery.

In the latest example that suggests poor Russian operational security, Ukrainian forces destroyed a facility used as a base for mobilized troops in the city of Makiivka, in the Donbas area of eastern Ukraine.

U.K. Faces New Wave of Strikes as Workers Fight for Higher Pay

LONDON-British rail workers Tuesday began a five-day strike over pay, as the U.K. government faces the biggest wave of industrial action to hit the country in decades.

The National Union of Rail, Maritime and Transport Workers said 40,000 members are expected to walk out for four days this week starting Tuesday, shutting down most rail services across the country. Meanwhile, train drivers from a separate union are striking at 15 rail companies on Thursday, adding to the disruption.

GLOBAL NEWS

Job-Openings Report to Give Snapshot of Labor Demand

The Labor Department's November report on job openings and turnover is expected to show how demand for workers fared toward the end of 2022.

The U.S. labor market remains historically strong, with employers adding an average of 392,000 jobs a month in 2022 through November, according to the Labor Department. The pace of job growth was more than double that of 2019, the year before Covid-19 hit the U.S. economy.

Natural-Gas Prices Plunge as Unseasonably Warm Weather Is Forecast

A sharp rise in temperatures has erased the effects of last month's winter storm. Now forecasts for more unusually warm weather are melting down natural-gas prices.

Natural-gas futures for February delivery dropped 11% on Tuesday to end at $3.988 per million British thermal units. That is down more than 50% from summer highs and is about what gas cost a year ago, when temperatures were also warmer than normal and before Russia's invasion of Ukraine jolted energy markets.

Hong Kong Stock Exchange Woos Global Companies After Expanding China Link

Hong Kong is making a pitch to multinational companies to list on its stock market, despite heightened tensions between China and the West.

The city's stock exchange hopes a new initiative that allows mainland Chinese investors to trade shares of international companies will present a compelling case for some of the world's largest businesses to raise funds in the Asian financial hub.

Auto Industry Expected to Post Worst U.S. Sales Year in More Than Decade

The U.S. auto industry is expected to report a decline in overall sales for 2022, a year that was challenging for car companies and buyers alike as supply-chain snarls left dealerships with little inventory to sell.

On Wednesday, General Motors Co., Toyota Motor Corp. and other auto makers are scheduled to release their year-end sales results, in the midst of growing concern over an economic slowdown that could further damp demand for cars and trucks and put pressure on profits this year. Ford Motor Co. plans to report its 2022 sales on Thursday.

Construction spending rises by 0.2% in November

Outlays for construction projects rose 0.2% in November to $1.81 trillion, the Commerce Department reported Tuesday.

Wall Street was expecting a drop of 0.4%.

A Third Major Storm to Bring Rain and Flooding to Northern California

The latest in a series of storms is expected to bring heavy rain, strong winds and mountain snow to the West Coast, especially Northern California, just days after another major system produced record-setting rain and flooding.

It will be the third storm system to drench the region since Dec. 26, according to the National Weather Service.The latest forecast predicts up to 3 to 6 inches of rainfall over the coastal hills of central and northern California, and up to 8 inches in isolated regions through Thursday.

Rick Singer, Mastermind of College-Admissions Cheating Scandal, Faces Sentencing

BOSTON-William "Rick" Singer, the mastermind behind a nationwide college-admissions cheating scheme that ensnared top universities, business executives and Hollywood celebrities, is scheduled to be sentenced in federal court here Wednesday.

Mr. Singer pleaded guilty in March 2019 to four felonies, admitting to running a complex operation that arranged for parents to fraudulently boost their teens' ACT and SAT scores and to bribe college coaches to flag the clients as recruited athletes, all but guaranteeing their admission to schools including Georgetown University and the University of Southern California. Payments were often funneled through Mr. Singer's sham charity, allowing parents to take tax write-offs for the bribes.

Bryan Kohberger Agrees to Extradition to Face Murder Charges in Idaho

Bryan Kohberger, the man accused of killing four University of Idaho students, has agreed to be extradited from Pennsylvania to Idaho, where he faces murder charges.

He signed a waiver in a Monroe County, Pa., court on Tuesday agreeing to the extradition, according to court records.

Biden Administration Proposes Higher Fees for Employment Visas

WASHINGTON-The Biden administration is proposing to raise the fees companies must pay for employment-based visas to fund the agency that oversees legal immigration, the Department of Homeland Security said Tuesday.

Under the proposal, the primary fee for an H-1B visa would jump to $1,595 from $470. The visa, which allows immigrants with college degrees to live and work in the U.S. for as long as six years before becoming permanent residents, is a favorite among technology and financial companies along with universities and other nonprofit research centers.

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This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

01-04-23 0626ET