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BY HARUMENDHAH HELMY

ANCHOR LAUREN GORES

This is Newsy Now and here are your latest headlines.
 

In U.S. news, GOP presidential contender Mitt Romney released his tax records late Monday. The Wall Street Journal says he paid a 14 percent effective tax rate in 2010, on an income of about 21 million dollars. The average effective rate for an American taxpayer is 11 percent. CNN says the revelation won’t stop all the tax talk.
 

CNN: “I feel like in a way, this just brings another round of conversation... we haven’t even gotten the full release yet.”
David Frum, contributor: “It opens two conversations: the first conversation is one about Mitt Romney, the second is about the way the tax system works.”
 

Still in the U.S., President Barack Obama is set to deliver the annual State of the Union address at 9 p.m. Eastern Time tonight. CBS explains what’s at stake for the man developing a re-election strategy.
 

“There will probably be no other speech this year, where the president has the attention of tens of millions of Americans, where he can make his case for his vision in this election year.”
 

In world news, a group of armed pro-Muammar Gaddafi residents have captured a city near the Libyan capital of Tripoli. Reuters calls it the gravest challenge yet to the country’s new government. Fox News has more.
 

“Pro-Gaddafi forces recapturing now. The city of Bani Walid near Tripoli. Libya’s new leaders have struggled to unify the country, three months after Gaddafi was captured and killed.”
 

In entertainment news, nominations for the 84th Oscars have been announced. The ceremony will be held February 26. Nine films have been nominated for Best Picture -- NBC’s Today Show has some of the surprises.
 

“Pleasant surprise for Steven Spielberg, whose War Horse hasn’t had as much awards action as you would think it would have had. Tree of Life, which, you know, a small independent movie that did very well, but a lot of people thought it was incredibly confusing, a little bizarre, Academy loved it.”
 

List of nominations, courtesy of the AP. 

Stay with Newsy for more news analysis throughout the day.