Good afternoon from the CNN Center in Atlanta. I’m Naamua Delaney, thanks for checking in with us. Here’s a look at what’s happening NOW IN THE NEWS.



The White House is proposing big changes to have the government overseen your money. Treasury Secretary Henry Paulson has outlined a new plan that would extend the Federal Reserve’s power. It would include three new regulators, one for the mortgage industry, one for insurance and one for consumer protection. Paulson said the plan is long-term and should be implemented in a thoughtful and measured way.



And this scene from the Associated Press, a jury in the Bahamas has determined the son of model Anna Nicole Smith died from an accidental drug overdose and is not recommending criminal charges. An inquest into Daniel Smith’s death began in November. The 20-year-old died in September 2006 in the Bahamas. Police say there is no evidence of a homicide. An autopsy revealed he likely died from a combination of drugs, including methadone and antidepressants. His mother, Anna Nicole Smith, died in a Florida hotel room in February last year.



The Pentagon has filed war crimes charges against an Al-Qaeda suspect linked to the 1998 US embassy bombings in Africa. Some charges against Ahmed Khalfan Ghailani carried the death penalty. He was captured by Pakistan in 2004 and is at Guantanamo Bay, Cuba. At least 200 people died in the 1998 attack and about 5000 people were injured.



The coroner leading the inquest into Princess Diana’s death has found no evidence she and her boyfriend Dodi Fayed were the victims of a murder plot. He says nothing suggests any British government agency was involved. Juries now have the option to rule the Diana died in the 1997 crash because of negligence by the paparazzi or that their driver was at fault.



President Bush will now have to find someone to replace Alphonso Jackson of the Department of Housing and Urban Development. Jackson announced his resignation this morning. He’s been criticized by lawmakers who say he didn’t respond adequately to allegations of impropriety. The FBI is looking into whether he followed government contracts to a golfing buddy.



The Olympic torch is on its way around the world. It arrived in Beijing this morning. Then it was sent off from an elaborate ceremony in Tiananmen Square. From Beijing, the torch will be carried 85,000 miles through 20 countries. The games open August 8th.

Well, that is a quick look at what’s making news this hour. Stay with CNN for more on these stories and the other news of the day.