REUTERS/Peter NichollsPeople look out towards the cargo ship Hoegh Osaka as it lies on its side after running aground on Saturday evening in the Solent estuary, near Southampton in southern England, January 4, 2015. Good morning! Here's what you need to know for Monday.
1. German deputy chancellor Sigmar Gabriel warned on Monday that imposing additional sanctions on Russia might plunge the country into further chaos.
2. Oil prices hit new 5-and-a-half-year lows on Monday amid a supply glut and weak demand.
3. Pope Francis named 20 new cardinals on Sunday.
4. ESPN anchor Stuart Scott died on Sunday at age 49 after fighting cancer since 2007.
5. The euro hit a 9-year low against the dollar on Monday, sinking below $1.20 for the first time since June 2010.
6. Indonesian recovery teams have expanded their search in the Java Sea for bodies from the AirAsia Flight 8501 crash.
7. Salvage teams are working to upright a cargo ship, Hoegh Osaka, that ran aground 50 minutes after it left Southampton.
8. Southern Australia is battling the worst bushfire conditions in three decades.
9. The annual Consumer Electronics Show (CES) in Las Vegas is in full swing this week.
10. Save the Children has started its investigation into how a British nurse contracted the Ebola virus while working at a treatment center in Sierra Leone.
And finally...