Quick Overview

• China should steadily increase its holdings of gold, silver and other precious metals, People's Bank of China adviser Xia Bin was quoted as saying.

• Japan's industrial output rose a stronger-than-expected 3.1% in December

• (Bloomberg) -- The U.S. cattle herd shrank to the smallest size in 53 years as of Jan. 1, as feed costs climbed and beef producers slaughtered more animals to take advantage of higher prices.

• South Kore will cull 2.9 million animals to deal with the country’s worst outbreak of foot-and-mouth disease.

• Merkel says Germany will never abandon euro.