Wednesday's live video events
May 11th, 2011
07:37 AM ET

Wednesday's live video events

Watch CNN.com Live for continuing coverage on the flooding along the Mississippi River.

Today's programming highlights...

8:00 am ET - Race to 2012: Gingrich speaks in Washington - He's expected to announce today that he's running for president, but former House Speaker Newt Gingrich isn't sitting on his laurels.  He'll address a Hispanic prayer breakfast in Washington this morning.

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U.S. Post Office losing billions
The U.S. Postal Service is continuing to lose billions of dollars.
May 11th, 2011
06:47 AM ET

U.S. Post Office losing billions

Has sending something through the good, old-fashioned Post Office become this quaint?

This week the U.S. Postal Service reported that it lost $2.2 billion in its most recent quarter which puts it on track to lose about $7 billion by September, CNN Money reports. Massive money loss is a trend the institution has been grappling with for years as more people turn to electronic means of correspondence. In the fiscal year 2010, the Postal Service reported a net loss of $8.5 billion.

The news comes less than a month after the Postal Service announced that some mailing costs will increase. A stamp for a first-class letter that weighs less than an ounce will remain 44 cents while the price to send parcels and magazines will be affected. Sending letters and packages to various countries will cost more. Dive deeper in your couch for that extra penny if you want to mail a postcard because doing so will soon cost 29 cents.

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Filed under: U.S. Postal Service
May 11th, 2011
05:21 AM ET

Trial for U.S. hikers held in Iran postponed

An official at the Swiss Embassy in Tehran says the trial of American citizens Josh Fattal and Shane Bauer has again been delayed.

"I have been able to verify that the session has actually been postponed due to the absence of the two prisoners. They were not brought in from prison," said a Swiss diplomat, who according to protocol, asked not to be identified.

"There were no reasons given why they were not brought in."

The Swiss Embassy represents U.S. interests in Iran. Fattal and Bauer were scheduled to appear on espionage charges at the Revolutionary Court in Tehran on Wednesday morning.

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Filed under: Courts • Iran
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