Obama announced a $500,000 salary cap for senior executives at companies receiving federal bailout funds. The last operational hospital in northern Sri Lanka's war zone has shut down, leaving thousands of civilians without medical care as both sides have resisted calls for a ceasefire. Benjamin Netanyahu, tipped to become Israel's next prime minister, has vowed to topple Hamas in Gaza, calling the Palestinian group an "Iranian proxy".

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 "Iranian proxy".

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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