CNN 2009-01-06

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Good morning to you from the CNN center in Atlanta, I am Reggie Aqui. Here is what's happening NOW IN THE NEWS.

Fighting rages in Gaza and Israel faces more Hamas rocket attacks. As the crisis deepens and diplomats¹ hope  a ceasefire is close, Israeli tanks are pushing deeper into Gaza and Hamas says it won't stop the fight. Israel is under pressure from the EU to agree to a temporary truce² to allow humanitarian³ aid into Gaza. Palestinian medical sources say 530 Palestinians have been killed in the military operation.

We could find out some time later today what likely caused the death of  actor John Travolta's 16-year-old son. An autopsy⁴ is being done in the Bahamas.  Jett Travolta died on Friday after he apparently⁵ suffered a seizure⁶ and fell in the bathtub at the family's vacation home in the Bahamas. The family also said, I should say, the family says he also had Kawasaki disease which is a heart condition that researchers believe can lead to convulsions and seizures⁷.

President-elect Barack Obama gets down  to work in Washington today. He plans to meet with Congressional leaders to hammer out an economic recovery plan. A plan that said to include among other things-300 billion dollars in tax cuts. Meantime, a senior Democratic official confirms that Obama plans a major speech on the economy this Thursday.

A big showdown may be looming⁸ as Roland Burris, the man embattled Illinois governor Rod Blagojevich picked for senator, is expected to show up for work tomorrow, but Senate Democrats⁹ are still furious at the governor over accusations¹⁰ of corruption¹¹ may pull that Senate seat from underneath  Burris's optimistic. Senators will agree to see him tomorrow.

Credit card companies are bracing¹² for record losses. Experts predict the industry stands to lose 70 billion dollars this year. According to the Federal Reserve, less than 3 months ago, taxpayers¹³ were more than 1 trillion dollars in the hole. Banks and Credit card companies are trying to help consumers if they've fallen behind.

Please stick with CNN.com and CNN.comlive as we're bringing the news from around the world. We’re gonna continue to update you right here throughout the day.