Daily news report from Instablogs

1. Obama to cap US executive pays
Barack Obama, the US president, has said his government will
impose a salary cap of $500,000 for senior executives at companies
receiving federal economic bailout funds.

2. Medics flee Sri Lanka Fighting
The last operational hospital in northern Sri Lanka's war zone
has been shut down, leaving thousands of trapped civilians
without access to medical care. Both the sides have already
resisted international calls for ceasefire.

3. Netanyahu vows to topple Hamas
Benyamin Netanyahu, widely tipped to become Israel's prime
minister after elections next week, has vowed to topple the Hamas
movement in Gaza, calling the Palestinian group an quot;Iranian proxyquot;.

4. Time Warner announces $16b loss, to layoff 1,250 workers
Time Warner Cable, the second largest US operator behind Comcast
has reported a $16bn (£11.1bn) operating loss for 2008, blaming it
mainly on a $24.2bn write down of the value of assets.

5. Gerrard to undergo scan on injury
Liverpool ace Steven Gerrard is set to undergo a scan to
discover the extent of the injury he picked up against Everton.
The Reds skipper left the field during the 1-0 FA Cup defeat by
Everton which was won by substitute Dan Gosling.

6. Pink Panther 2 premieres in New York
Aishwarya Rai Bachchan looking elegant at the premiere of her latest
American film. Other cast members include Steve Martin, Andy Garcia
and Emily Mortimer

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