CNN 2008-07-18

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Good afternoon from the CNN Center in Atlanta, I'm Reggie Aqui. Here's a look at what's happening NOW IN THE NEWS.

Democratic Senator Barack Obama has 52 million reasons to love the month of June. His campaign officials say that's how much he raised just last month with his average donation only 68 bucks¹. It's more than double the amount Obama raised in May. Republican Senator John McCain's campaign raised about 22 million in June, the best fundraising month yet for them. McCain will receive 85 million dollars in public financing in September for use through Election Day. Obama's campaign reversed course last month, saying it would not accept public financing and raise and spend its own money instead.

In Washington today, former Vice² President Al Gore³ says America must do something serious about rising energy prices and the threat of global warming. The Nobel Peace Prize winner wants the country to get all its electricity from renewable and non-polluting sources within 10 years. Gore says a new political environment presents an opportunity for bold steps. His Alliance for Climate Protection estimates it will cost up to 3 trillion dollars to convert the US to environmentally friendly electricity.

No changes at the gas pump. AAA is reporting the national average price for a gallon of regular unleaded is holding at $4. 11, which is the previous day's record price. Alaska has the most expensive gas; they are averaging about ($)4. 62 a gallon. If you look for the cheapest gas, you have to go to the Show-Me State, Missouri, ($)3. 94 a gallon there.

The FBI is reportedly investigating IndyMac Bancorp for possible mortgage fraud. A CNN source says agents are looking at whether IndyMac provided false information to give loans to risky⁴ borrowers. The FBI is not confirming it's looking at IndyMac, but it did say it's investigating 21 lending companies. IndyMac is the California bank taken over by the federal government last week.

Harvard researchers suggest some cigarette makers⁵ are trying to hook young smokers⁶ with milder menthol cigarettes. According to the scientists, higher menthol levels popular with older smokers are too strong for new smokers. A spokesman for Philip Morris USA denies the allegations. Ten years ago, tobacco companies and state governments made an agreement that prohibits companies from targeting the young.

Those are the headlines making news this hour. Please stick with CNN for more on these stories and the other news of the day.