(Image source: CBS News, US Dept. of Energy, Brand X Pictures, CNBC)

BY: JONATHAN KETZ

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This is Newsy Now, and here are your latest headlines. 

There’s a new Republican running for president --- and she’s now considered a frontrunner in the Iowa Caucasses.  Tea Party congresswoman Michele Bachmann announced her candidacy in her hometown of Waterloo, Iowa. Here’s what she had to say at her announcement party.

“We cannot afford four more years of Barack Obama. (FLASH) I believe in the founding fathers' vision of a limited government, that trusts in and believes in the potential of you, the American people.”

In New Mexico---wildfires are threatning the world’s most advanced computer lab. A fire has moved to within a mile of the Los Alamos National Laboratory. That’s forced officials to close the lab. Between 50 and 100 homes have been forced to evacuate the area. Here’s CNN.

“Officials say all nuclear and hazardous materials are safe. Most of the lab’s 11,000 workers were told to stay home."

America the tightwad.  In yet another sign of the bad economy, May consumer spending stagnates. After experts factored in inflation, consumer spending dropped by .1 percent. With higher gas prices, inflation is running at nearly four percent. Brian Sozzi says food prices are to blame for low spending too.

“Not just oill, too. Oil has come down, gas prices have receded a touch. That’s helping the consumer. We have to remember what else remains, specifically in the grocery asisle, seeing lagging impacts of grocery price increases from the likes of General Mills.”

Bad news for tech users--- LulzSec is not done after all. The hacking company released a letter detailing primary data from companies like AOL, Sony, and even the CIA. All after LulzSec supposedly called it quits. London’s Channel 4 worries this might be just be the beginning.

Asha: “As more sensitive and personal information becomes availble on the net, experts say unless organizations tighter their security, we can expect more cyber attacks.”

Speaking of companies who’ve lost money---the LA Dodgers---are trying not to lose any more. The team---has filed for bankruptcy. If the court approves interim financing---owner Frank McCourt could still control the team. McCourt says he’s obtained $150 million to help keep the team afloat. Fox News breaks down the story.

“The Dodgers owner Frank McCourt has a difficulty. He is looking at Thursday, and that’s the next payday for the Dodgers’ organization, and what we believe he is saying to himself if I can’t make that payday, so I’m going to have to file for Chapter 11 bankruptcy. I have $150 million in what’s called debtor finan, people that are willing to loan the $150 million to get them through bankruptcy.”

The Dodgers number one creditor by the way --- is player Manny Ramirez. Stay with Newsy for all your news throughout the day. For Newsy Now---I’m Jonathan Ketz- highlighting the top headlines---making you smarter---faster. 

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Transcript by Newsy.