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News Wrap: Gingrich Campaign Cuts Third of Staff

March 28, 2012 at 12:00 AM EDT

HARI SREENIVASAN: Republican presidential candidate Newt Gingrich confirmed today he is running low on money and drastically scaling back his campaign. Gingrich laid off one-third of his campaign staff last night, and asked his campaign manager to resign.

He spoke today with WTOP Radio in Washington and said he will use social media to get his message out.

NEWT GINGRICH (R): Well, we’re staying in. That’s exactly why we’re downsizing and doing what we need to, to be able to stay in. I think you have to respond to reality. And we had cash flow shorter than we would like it to be. So, we’re doing the appropriate things to be able to campaign.

HARI SREENIVASAN: Meanwhile, officials with Mitt Romney’s campaign said today they expect an endorsement from former President George Herbert Walker Bush. The two men will meet in Houston tomorrow.

Rising supplies of crude oil in the U.S. pushed prices down, for a change, today and depressed energy stocks. That, in turn, sent Wall Street into a broader retreat. The Dow Jones industrial average lost 71 points to close at 13,126. The Nasdaq fell 15 points to close below 3,105.

A JetBlue airways captain has now been charged with interfering with a flight crew. It happened Tuesday on a flight from New York to Las Vegas. Court documents say Clayton Osbon ran through the plane, yelling about terrorists, before passengers wrestled him down. He was taken away in restraints after the plane made an emergency landing in Amarillo, Texas. Osbon remained in a local hospital today, under medical evaluation.

In Syria, government forces captured the northern town of Saraqeb overnight, after four days of fighting there killed more than 40 people. It was the latest in a series of rebel strongholds to fall. Opposition groups also reported clashes today in several other cities in the central and eastern parts of the country. The new fighting came a day after President Bashar al-Assad said he accepted a U.N. plan to resolve the yearlong conflict.

Those are some of the day’s major stories.