IMO I think the site looks nice actually.
I don't know... how *should* news look?
1. I think you should get away from Times New Roman, move to something like Verdana or Arial.
2. Decide what feel you are going for. I'm guessing you want a kind of blog feel? So have a look at some other sites which use a layout you like. Normally a blog layout would look like so -
The News Title
The Date
The Text
If you want to include the author in there too, I'd suggest something like -
The News Title
The Date | Author
The Text
Make the date and author text smaller than the main text, make the title the largest size. Just my 2 cents.