CNN 2009-03-27

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From the CNN Center in Atlanta, I am Naamua Delaney. Thanks for checking in with us and here is a look at what's happening NOW IN THE NEWS.

Today President Obama hosts an online town hall meeting to answer questions from the public about his 3.6-trillion-dollar budget, the economy and what's been done to fix it. The event is expected to begin at 11:30 AM Eastern.

Treasury¹ Secretary Timothy Geithner is back on Capitol Hill today. Geithner is expected to unveil plans to expand the power of government watchdogs, among the expected proposals setting a limit on risk-taking at companies considered vital to the nation's economy. Large firms would have to have more cash reserves on hand and the government will be given the power to take over non-banking financial institutions.

No much time to lose in Fargo, North Dakota. As residents and volunteers scramble² to fill sandbags and build dikes. The Red River could crest³ at a record of 41 feet sometime Saturday. Evacuation plans are ready just in case. North Dakota isn't the only state bracing⁴ for dangerous weather, southern states are on watch for extreme thunderstorms.

Secretary of State Hillary Clinton continues her trip to Mexico to talk trade and the growing drug violence on both sides of the border. Drug cartels are blamed for more than 6200 killings⁵ in Mexico last year. Clinton says the Unite State shares the blame for Mexico's drug wars and pledge to boost cooperation to improve security in both countries.

Ahead of next week's G-20 summit, British Prime Minister Gordon Brown is in Brazil where he is to meet with the country's president. His visit comes on the heels of his stop in New York and at the UN where he denounced corporate⁶ greed and protectionism. He also called for a coordinated⁷ response to reshape the world economic order and its regulatory structure.

IBM is expected to announce that it plans to lay off about 5,000 employees; these cuts make up four percent of IBM's workforce⁸ in the United States. This comes after January layoffs⁹ when IBM cut thousands of workers.

All right, be sure to stick with CNN.com 24/7 for news from around world and of course we will have updates right here throughout the day.